Bolton are £93m in debt.
From the Beeb
Bolton's financial losses nearly tripled last season due largely to the cost of changing manager and strengthening their squad.
According to accounts for the year ending 30 June, Wanderers' losses rose from £13.2m to £35.4m.
This includes £4.2m for sacking Gary Megson and prizing his replacement Owen Coyle away from Burnley in January.
Additions to the squad, such as Chung-Yong Lee and Zat Knight, saw wages increase 14% from £40.9m to £46.4m.
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In the prem and you lose £35.4m so what hope have clubs in the other leagues got?
They are really punching above their weight in terms of their actual size (fanbase etc)
Maybe it's time for a league for the super rich and a league for all the others.........
This follows Bristol City's 11m loss recently reported.
Utter insanity.
How many clubs are currently on the market, and how many are any kind of a sound business proposition ??
Who have they bought that cost decent money? Elmander was a while ago so won't even be in these latest figures.
I doubt you'll find a single Bolton fan that doesn't think that was 4.2m very well spent.
What will happen is that the more the financial instutions fear this is coming the more pressure they will be put under to sell players.
Ultimately they are doomed. They need a Billionaire to save them or it becomes a matter of when? not if?
No wonder their Chairman is calling for a Premier League Two.
In time Bolton will be replaced with a well run club that is currently in the Championship. Bolton will probabkly go into Administration, knock all their debts and/or fall into the Third Division.
Sadly this is the evolutionary cycle that all clubs that try to stay in the Premier League too long will suffer.
If Liverpool and Man Utd can't balance their books what chance to Bolton have?
Yup. I don't understand why what are effectively manager 'transfer fees' are so balked at. What can you buy for 4.2 million? One, maybe two decent premiership players. Compare that to a manager who is arguably more important to the success of the team than any one player.
Always thought they would be in trouble if relegated, especially with the way Phil Gartside has been looking for all sorts of changes to secure their place in the big money.
Agree with KHA, eventually their place will be taken by a current well-run Championship club and Bolton will probably wipe their debts via administration. The thing is, their place as 'indebted small club in the Premier League' will also be taken by someone else, probably one of the current 'well-run clubs' once they begin to establish themselves as a consistent Premier League side. My money's on it being Stoke (despite their current reputation) or Birmingham in three years' time. Yo-yoing between the top two divisions is the most viable way to run a club long-term in the black in English football
ps CityAM are running an article where the first sentance is:
“It is the semi-final that no one saw coming. Two teams with limited financial resources who were supposed to struggle...”
so is it Donny/Charlton or maybe Fleetwood/Tranmere. Nope, Spurs v Ajax ! I know it is relative, but really!
Aren't Burnley currently hailed as operating in a financially sensible fashion?
I don’t get why the clubs outside the Top 6 don’t collectively do more to drive down the costs. Yes some break rank but evidence shows it’s long term foolish.
Only proves to me that actually at nearly all clubs the normal rules that owners apply in their businesses and made their fortunes are just ignored. RD is not alone on applying illogical financial thinking.
Spurs last season earned £144m.