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Bolton Nuts » BWFC » Bolton Wanderers News » Anderson says club heading for "lowest debt in many years"

Anderson says club heading for "lowest debt in many years"

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Sluffy

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KEN Anderson has confirmed Wanderers’ financial accounts will be filed by the end of this month.
Writing in his website column, the Whites chairman says debt levels at the Macron Stadium are now the “lowest for many years”.
A financial statement released by the club in July last year logged the level of net debt at £26.227million, although Anderson argued it did not reflect the true picture as a large percentage was owed to former owner Eddie Davies and vice-chairman Brett Warburton, and linked with future success on the pitch.

It was revealed at the time a total £2.5m is owed to Warburton, £500,000 of which is due this month, and £15.2m to Davies, who had written-off another £5m during 2017.
Michael James, co-owner of Prescot Business Park Ltd, also supplied a loan to the club, secured against the Whites Hotel.
Anderson, who celebrates his second anniversary at Wanderers this week, thanked those offered assistance to the club, financial and otherwise.
“Over these past two years, I’ve been enthralled by the support I have received from all our staff, season ticket holders, box holders, suppliers and sponsors, without whom none of this would have been remotely possible. I therefore offer you all my sincere gratitude,” he said.
“I’d also like to thank Brett Warburton and Michael James for their support and financial assistance throughout my tenure at the club. They have the club’s best interests at heart and I’m very grateful for what they have done for the club.

“It would be remiss of me not to mention Eddie Davies and the huge financial assistance and support he has given the club for many years.
“Over the past two years, this has continued and he has always made himself available whenever I have sought his advice and guidance. I cannot begin to tell you how passionate about the club he is and always will be.
“That the Academy bears his name is indicative of his love for Bolton Wanderers Football Club. He may not have got everything right, but he has tried his best and I hope I can try to emulate as much as he did during my time at the club.”

Anderson also confirmed that a date for the long-awaited AGM will be set in the coming weeks.

http://www.theboltonnews.co.uk/sport/wanderers/16081483.Wanderers_heading_for__lowest_debt_in_many_years___claims_Anderson/

wanderlust

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Nat Lofthouse
Nat Lofthouse
Huge thanks to Eddie Davies. Almost went unnoticed that he has written off another £5 million of debt.
Add the sale of Madine to that and that's an unexpected bonus of £11 million on the balance sheet so no wonder the finances are improving. Unfortunately we can't bank on windfalls like that every year.

Natasha Whittam

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Nat Lofthouse
Nat Lofthouse
If we can get £6m for Madine, we can get £6m for anyone.

Norpig

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Nat Lofthouse
Nat Lofthouse
Good old Uncle Eddie  Rolling Eyes

wanderlust

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Nat Lofthouse
Nat Lofthouse
If anyone owed me £20 million there's no way I'd even contemplate writing of a quarter of it, let alone what ED's done. I bet his family are fuming!

Leeds_Trotter

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Andy Walker
Andy Walker
Come on, I bet he had more than that out of us all that time we spent in the Premier League.

Soul Kitchen

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Ivan Campo
Ivan Campo
@Natasha Whittam wrote:If we can get £6m for Madine, we can get £6m for anyone.

 Very Happy

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