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The scale of Wanderers’ downsizing operation was put into focus again yesterday as the Premier League released parachute payment figures for the 2014/15 season.
The club pocketed £10,131,541, made up of a £5,492,198 solidarity payment and £4,639,343 from overseas television broadcasting rights, although as The Bolton News reported last July, the cash had already been hived off to re-pay an outstanding overdraft at Barclays Bank.
The Whites will benefit from a slightly larger figure next season, although that will represent the last remaining parachute payment hanging over from their 11-year stay in the top flight.
The sum confirmed on Tuesday morning is also less than a quarter of the £42,863,816 Wanderers earned four years earlier in the Premier League, putting into focus the size of the restructuring job which has been necessary as the club failed to make a quick return to the top flight.
Promotion remains the ultimate aim next term, although the odds are now stacked against Bolton – still second favourites for relegation with some bookmakers.
Championship rivals Reading, Fulham and Cardiff City are all benefitting from bigger payouts from the Premier League because they were relegated after the latest broadcasting deal.
Wolves and Blackburn are operating on the same payouts as Bolton, while Birmingham City received their last parachute payment this time around.
The biggest disparity, however, comes from the clubs who have been relegated from the top flight this season.
Although they still face potential sanctions from Financial Fair Play, QPR have seen their coffers boosted significantly, netting a massive £64,886,028 for finishing bottom of the pile last season.
Hull and Burnley will also receive £64m split over four years – £24m in the first year, then £19.3m, then £9.6m for each of the next two years.
While a controversial measure among the Football League fraternity, parachute payments have been essential for Wanderers as they readjusted operations on and off the pitch in the last few years.
It is well-documented that the timing of their relegation was lousy, to say the least. Had they lost their top flight status 12 months later they would have benefitted from significantly larger payouts – Wigan Athletic, for example, netting £20,076,774 this season even though they toppled into League One.
Significant measures have been undertaken to trim costs, with the club getting some big earners off the books this summer such as Matt Mills, Keith Andrews and Jermaine Beckford.
It should mean the Bolton’s wage bill has been more than halved since falling into the second tier, and with one eye on the impact of a final parachute payment, it is safe to assume further cuts will be needed unless promotion is gained next season.
Rumours of outside investment continue to provide a glimmer of hope that the most austere times have passed but, realistically, they continue to be played down from sources within the club.
While scaling down costs has undoubtedly taken its toll, who knows what difficulties Wanderers may have faced without the aid given to them by parachute payments?
The club earned more than £40m as they dropped out of the Premier League in 2012 with a costly squad and, perhaps more pertinently, an infrastructure geared up to top flight football. They have since earned two pay-outs, one of around £15.5m and another slightly larger sum 12 months ago.
Changes announced this week will mean clubs relegated into the Championship in the future will receive pay-outs over a shorter period of time.
Clubs relegated after a single season in the Premier League will be paid over just two years, while others will see payments made over three seasons.
That means if the clubs promoted from the Championship this season – Bournemouth, Watford and Norwich – do not avoid the drop next season, they will only get two payments.
All Championship clubs currently earn £2.3m a season through solidarity payments, although that total will also be boosted next season, in line with an increase in broadcast revenue.
The payment will be linked with a third-year parachute payment, with clubs getting 30 per cent of the payout.
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The club pocketed £10,131,541, made up of a £5,492,198 solidarity payment and £4,639,343 from overseas television broadcasting rights, although as The Bolton News reported last July, the cash had already been hived off to re-pay an outstanding overdraft at Barclays Bank.
The Whites will benefit from a slightly larger figure next season, although that will represent the last remaining parachute payment hanging over from their 11-year stay in the top flight.
The sum confirmed on Tuesday morning is also less than a quarter of the £42,863,816 Wanderers earned four years earlier in the Premier League, putting into focus the size of the restructuring job which has been necessary as the club failed to make a quick return to the top flight.
Promotion remains the ultimate aim next term, although the odds are now stacked against Bolton – still second favourites for relegation with some bookmakers.
Championship rivals Reading, Fulham and Cardiff City are all benefitting from bigger payouts from the Premier League because they were relegated after the latest broadcasting deal.
Wolves and Blackburn are operating on the same payouts as Bolton, while Birmingham City received their last parachute payment this time around.
The biggest disparity, however, comes from the clubs who have been relegated from the top flight this season.
Although they still face potential sanctions from Financial Fair Play, QPR have seen their coffers boosted significantly, netting a massive £64,886,028 for finishing bottom of the pile last season.
Hull and Burnley will also receive £64m split over four years – £24m in the first year, then £19.3m, then £9.6m for each of the next two years.
While a controversial measure among the Football League fraternity, parachute payments have been essential for Wanderers as they readjusted operations on and off the pitch in the last few years.
It is well-documented that the timing of their relegation was lousy, to say the least. Had they lost their top flight status 12 months later they would have benefitted from significantly larger payouts – Wigan Athletic, for example, netting £20,076,774 this season even though they toppled into League One.
Significant measures have been undertaken to trim costs, with the club getting some big earners off the books this summer such as Matt Mills, Keith Andrews and Jermaine Beckford.
It should mean the Bolton’s wage bill has been more than halved since falling into the second tier, and with one eye on the impact of a final parachute payment, it is safe to assume further cuts will be needed unless promotion is gained next season.
Rumours of outside investment continue to provide a glimmer of hope that the most austere times have passed but, realistically, they continue to be played down from sources within the club.
While scaling down costs has undoubtedly taken its toll, who knows what difficulties Wanderers may have faced without the aid given to them by parachute payments?
The club earned more than £40m as they dropped out of the Premier League in 2012 with a costly squad and, perhaps more pertinently, an infrastructure geared up to top flight football. They have since earned two pay-outs, one of around £15.5m and another slightly larger sum 12 months ago.
Changes announced this week will mean clubs relegated into the Championship in the future will receive pay-outs over a shorter period of time.
Clubs relegated after a single season in the Premier League will be paid over just two years, while others will see payments made over three seasons.
That means if the clubs promoted from the Championship this season – Bournemouth, Watford and Norwich – do not avoid the drop next season, they will only get two payments.
All Championship clubs currently earn £2.3m a season through solidarity payments, although that total will also be boosted next season, in line with an increase in broadcast revenue.
The payment will be linked with a third-year parachute payment, with clubs getting 30 per cent of the payout.
[You must be registered and logged in to see this link.]