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Ken Anderson insists a plan is in place to safeguard Wanderers’ financial future should the club suffer relegation on Sunday.
Speaking to shareholders at yesterday’s AGM, the Bolton chairman said he was still hopeful a victory for Phil Parkinson’s side against Nottingham Forest would be enough to preserve the club’s position in the Championship.
But as concerned supporters asked for clarification on what would happen in the worst case scenario, Anderson said his experience of budgeting for League One would be a distinct advantage.
“What we’d do here is what I did when I came in,” he said. “We’d have to be financially prudent. A lot of those decisions are not ones I like to take, or enjoy taking, but we would have to take the same view.
“When we went down last time we still had a great deal of very high salaries to play. If we did this time, we’d have one player on a high salary, that’s the difference. Putting that in a financial sense, it was circa £4million in salaries last time but this time it’s just over £1.5m. It’s still more than I’d like, but not as bad.”
Anderson confirmed Wanderers would be due another payment from Cardiff City in the event they secured promotion to the Premier League this weekend.
The chairman declined to take questions on the footballing front, including the position of manager Phil Parkinson, but promised he would address matters at a separate Q&A session planned in the coming weeks.
He confirmed the stadium’s naming rights deal with Macron expires this summer, although the Italian sportswear firm are tied in for another four years in regards to kit manufacture.
Anderson, who said he had recently invested a “significant amount” of his own money into the club, played down suggestion administration would be considered in the summer. But he conceded there would be a financial challenge with a drop of around £7m expected in sponsorship and TV revenue if Wanderers fail in their bid to stay up.
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Speaking to shareholders at yesterday’s AGM, the Bolton chairman said he was still hopeful a victory for Phil Parkinson’s side against Nottingham Forest would be enough to preserve the club’s position in the Championship.
But as concerned supporters asked for clarification on what would happen in the worst case scenario, Anderson said his experience of budgeting for League One would be a distinct advantage.
“What we’d do here is what I did when I came in,” he said. “We’d have to be financially prudent. A lot of those decisions are not ones I like to take, or enjoy taking, but we would have to take the same view.
“When we went down last time we still had a great deal of very high salaries to play. If we did this time, we’d have one player on a high salary, that’s the difference. Putting that in a financial sense, it was circa £4million in salaries last time but this time it’s just over £1.5m. It’s still more than I’d like, but not as bad.”
Anderson confirmed Wanderers would be due another payment from Cardiff City in the event they secured promotion to the Premier League this weekend.
The chairman declined to take questions on the footballing front, including the position of manager Phil Parkinson, but promised he would address matters at a separate Q&A session planned in the coming weeks.
He confirmed the stadium’s naming rights deal with Macron expires this summer, although the Italian sportswear firm are tied in for another four years in regards to kit manufacture.
Anderson, who said he had recently invested a “significant amount” of his own money into the club, played down suggestion administration would be considered in the summer. But he conceded there would be a financial challenge with a drop of around £7m expected in sponsorship and TV revenue if Wanderers fail in their bid to stay up.
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