Bolton Wanderers Debt In Focus.

Ownership

Owned by the Isle of Man businessman Edwin Davies via Fildraw private trust company, registered in Bermuda.

Turnover £35m

Highest in the league

Wage bill £37.4m

Highest in the league

Wage as a proportion of turnover 107%

Directors’ pay

£792,000 paid to 6 directors; £408,000 the highest

Loss before tax £50.6m

Net debt £163.8m

Interest payable £7.5m


Accounts for the year to 31 May 2013

State they’re in

Spectacular £50.6m loss in the first season after relegation, despite parachute payments. Bolton’s 1997 move to the Reebok stadium was accompanied by building a hotel and plans for diverse earnings which would subsidise the club to compete above its natural level. Premier League wages then soared, though, and Bolton have made massive losses. They are supported by Edwin Davies, the kettle element manufacturer whose loans were up to a staggering £151m. Davies charged £7m interest and other fees in 2012-13, but now charges no interest

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We're in deep water, don't read if you have a bad heart.

we have a higher wage bill that QPR?

Not sure I believe that, wow if true.

Is that Gartside on £408,000?

£408,000 PA, for totally fucking the club up!!!!!! PRICELESS!!!!!

No offence meant Scott but sites like the Lion of Vienna - whose link you orginally put up often rip off original articles from elsewhere - simply to get people to visit their sites - in order for them to earn money via advertisements they carry on their own site.

It's not difficult to find the original article - indeed they did link to it (but not that obviously) - so I've removed their link and put the original one up instead in your opening paragraph.

The Guardian article gives full details on ALL the 24 clubs in the Championship - is well worth a read - and any money made from advertisements go to the right place rather than to some parasite forum owner - who is getting rich off the back of someonelse's hard work.

I think that is fair and proper - I hope you do too.

Bolton Nuts - adverts free - we don't rip fellow Wanderers fans off like - Lion of Vienna, JA606, Burnden Aces, Bolton Mad, etc, etc.

No Offence Taken, I cant for the life of me believe that Gartside is getting paid that and the club is close to administration.

If true.

This is a club that keep offering Holden a contract and offered Sean Davis a new deal when he hadn't even played a full 90mins for us when he was here - anythng is possible.

Hipster_Nebula wrote:we have a higher wage bill that QPR?

Not sure I believe that, wow if true.

I've since linked to the original article, that when you read it you will see is about listing and comparing details of Championship clubs least full set of accounts - ie for 2012/13 season (when QPR was still in the Premier) and not 2013/14.

These sorts of misinformation happen when people rip off other peoples work and only use the bits they want - for their own reasons (to make money for themselves!) - rather than link to the source material.

So Hippy your gut feeling about QPR was bang on - they had a wage bill of £68 million.

Well spotted.

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How is it ever going to get better though?

Or will it just get out of control, or will Gartside lead us to the promise land.

Increase turnover, reduce wage bill.  We are doing one if them

The Middlebrook master plan may help turnover too

scottjames30 wrote:How is it ever going to get better though?

Or will it just get out of control, or will Gartside lead us to the promise land.

The simple answer is get promoted -

The division’s severe difficulties are caused principally by the financial chasm between the Championship and the Premier League, which means promotion, which will be claimed by either Derby County or Queens Park Rangers in Saturday’sWembley play-off final, is worth at least £120m.

Shaun Harvey, the Football League’s chief executive, pointed out this means that the winner will receive the same from one season in the Premier League as “from playing in the Championship for the next 30 years”.

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Sluffy wrote:

scottjames30 wrote:How is it ever going to get better though?

Or will it just get out of control, or will Gartside lead us to the promise land.

The simple answer is get promoted -

The division’s severe difficulties are caused principally by the financial chasm between the Championship and the Premier League, which means promotion, which will be claimed by either Derby County or Queens Park Rangers in Saturday’sWembley play-off final, is worth at least £120m.

Shaun Harvey, the Football League’s chief executive, pointed out this means that the winner will receive the same from one season in the Premier League as “from playing in the Championship for the next 30 years”.

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That's a long shot, and probably won't happen anytime soon, how long do you give us in the Championship until we go under? or into administration?

And please explain to me how Gartside is still getting a huge wage, when he's been in charge of the finance/ debt for the last decade, its totally baffling, obviously he doesn't have the club at heart.

I know I am only a minion fan who pays to watch them , so tell me to mind my own business if you want.

I know my place.

scottjames30 wrote:

Sluffy wrote:

scottjames30 wrote:How is it ever going to get better though?

Or will it just get out of control, or will Gartside lead us to the promise land.

The simple answer is get promoted -

The division’s severe difficulties are caused principally by the financial chasm between the Championship and the Premier League, which means promotion, which will be claimed by either Derby County or Queens Park Rangers in Saturday’sWembley play-off final, is worth at least £120m.

Shaun Harvey, the Football League’s chief executive, pointed out this means that the winner will receive the same from one season in the Premier League as “from playing in the Championship for the next 30 years”.

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That's a long shot, and probably won't happen anytime soon, how long do you give us in the Championship until we go under? or into administration?

And please explain to me how Gartside is still getting a huge wage, when he's been in charge of the finance/ debt for the last decade, its totally baffling, obviously he doesn't have the club at heart.

Eddie Davies owns the club.  He's put his money into it but we can't compete with the big boys in the Premier and what money we get from Sky paid the players wages - so there was no profit in it for him simply marking time in the Premier (although I'm not saying the plan was to get relegated - thank you Owen).

He's seen a way of making money recently though by developing land he owns near the Reebok and town - hence the big Middlebrook redevelopment plan that is in front of Bolton Council for the last few months.

He's obviously thought it was better for him to put money into getting this development up than spending on the club - hence that's why we've finally got rid of some of Coyle's stupid signings on megs wages recently - Ngog, Mears, Eagles, Knight, etc.  Don't forget though thanks to Owen we still have the likes of Pratley, Andrews, Sordell, etc, to pay weekly for a few more years yet (thanks Owen).

Gartside is obviously being paid for his skills in getting the development plan approved - rather than his skills of running the football club.

Burnley - and clubs like Swansea, Norwich and Southampton - have shown recently that you don't need expensive players on high salaries to get out of this league.

The plan I think is to get the development through - hence making a return on his money (a profit!) - whilst at the same time going through a transition at the club to rid ourselves of the high wages and hopefully get promoted with a young team - and if we are lucky stay up for a season or two - maybe sell players for a big profit too.

I think the idea is nore about being financially smarter in the future - even if it means relegation - than financially putting all the eggs into one basket in staying up - even if means paying players more than the club earns.

If we can get it right - we could become a sort of yo-yo team, whereby if we get promoted we get £120 million, which will keep us going even if we get relegated the following year - which with that sort of money should make us one of the favourites to bounce back again the year after, etc, etc.

I guess it is risky banking on promotion but we've tried the 'paying big wages and long contracts' route and that was a financial disaster - not least because of the players Coyle signed (Ngog and Sordell for £7 million, for Christ sake - thank you Owen!).

Can't really think of any other solution to the mess we've got into - can you?

It might work - look at Burnley for example!

As we approach a debt 5 times that of the debt when we fell from the PL. We have a PG managing to convince ED to forget any income from the club while Phil pats himself on the back before resuming the counting of his income.
Who will be the first to cry when he can't pay himself ? He should look behind himself and see if he spots the falling revenue we have today.

A new book of Phil's Famous chairman quotes is being released in time for Christmas be sure to pre order your copy and prevent hunger at the club.

All your favourite quotes are sure to be included
- The fax is in my pocket
- Those that know football
- We are a trading club
- LSL is better than...

Many many more plus the bonus of 20 questions, quizes and comments from manager interviews
- Are you good at spending money
- Very good I like a nice clean CV with nothing on it
- 97, 98, 99 100 Coming ready or not....... Spot Mr Souness in the picture and you are hired
- Go shopping at middlebrook and complete the language test to win a five year contract

All your favourites are included in this super new publication by the BEN in time to make your boxing day sat at home an entertaining one.

Unfortunately the CD to accompany this splendid book has been stopped on health grounds. We were sure the chance to sing along to those famous chants of days gone bye would have been enough to cheer up football fan.
Doctors advised it could have the opposite effect over the festive period especially as DF will as usual still trying to work out the dot to dot team formation diagrams in his foreign managers bible.

Look out during 2015 for a planned musical treat. Mrs G's Love Songs  you just know this one will contain her rendition of Red Red Wine. Imagine what other magnificent love songs we have lined up for this one.


If you can't beat them join them. NURSE NURSE I support Bolton Wanderers

Sluffy wrote:

scottjames30 wrote:How is it ever going to get better though?

Or will it just get out of control, or will Gartside lead us to the promise land.

The simple answer is get promoted -

Surely the simple answer is to win the Euromillions Lottery. Twice.
Odds are about the same as getting promoted aren't they?

£1 lottery surcharge to be collected on entry to the ground beginning the season 2014- 2015

carrs wrote:As we approach a debt 5 times that of the debt when we fell from the PL. We have a PG managing to convince ED to forget any income from the club while Phil pats himself on the back before resuming the counting of his income.
Who will be the first to cry when he can't pay himself ? He should look behind himself and see if he spots the falling revenue we have today.

A new book of Phil's Famous chairman quotes is being released in time for Christmas be sure to pre order your copy and prevent hunger at the club.

All your favourite quotes are sure to be included
- The fax is in my pocket
- Those that know football
- We are a trading club
- LSL is better than...

Many many more plus the bonus of 20 questions, quizes and comments from manager interviews
- Are you good at spending money
- Very good I like a nice clean CV with nothing on it
- 97, 98, 99 100 Coming ready or not....... Spot Mr Souness in the picture and you are hired
- Go shopping at middlebrook and complete the language test to win a five year contract

All your favourites are included in this super new publication by the BEN in time to make your boxing day sat at home an entertaining one.

Unfortunately the CD to accompany this splendid book has been stopped on health grounds. We were sure the chance to sing along to those famous chants of days gone bye would have been enough to cheer up football fan.
Doctors advised it could have the opposite effect over the festive period especially as DF will as usual still trying to work out the dot to dot team formation diagrams in his foreign managers bible.

Look out during 2015 for a planned musical treat. Mrs G's Love Songs  you just know this one will contain her rendition of Red Red Wine. Imagine what other magnificent love songs we have lined up for this one.


If you can't beat them join them. NURSE NURSE I support Bolton Wanderers

Post of the year so far!

Burnley got promoted and they were nothing special.

I don't think you have to be that much better than the rest of the teams in this division to get promoted - Burnley were not amongst the favourities to go up at the start of the season, nor Palace last, or Southampton before that.

A reliable defence and forwards that score will be enough simply to get teams into the play offs or better.

I might be in la la land here but I think Freedman is a decent manager and if he can land a forward who can score - Juke possibly - and sort out our full backs - then we have as good as chance as most teams for making the play-offs.

You heard it here first remember!

carrs wrote:As we approach a debt 5 times that of the debt when we fell from the PL. We have a PG managing to convince ED to forget any income from the club while Phil pats himself on the back before resuming the counting of his income.
Who will be the first to cry when he can't pay himself ? He should look behind himself and see if he spots the falling revenue we have today.

A new book of Phil's Famous chairman quotes is being released in time for Christmas be sure to pre order your copy and prevent hunger at the club.

All your favourite quotes are sure to be included
- The fax is in my pocket
- Those that know football
- We are a trading club
- LSL is better than...

Many many more plus the bonus of 20 questions, quizes and comments from manager interviews
- Are you good at spending money
- Very good I like a nice clean CV with nothing on it
- 97, 98, 99 100 Coming ready or not....... Spot Mr Souness in the picture and you are hired
- Go shopping at middlebrook and complete the language test to win a five year contract

All your favourites are included in this super new publication by the BEN in time to make your boxing day sat at home an entertaining one.

Unfortunately the CD to accompany this splendid book has been stopped on health grounds. We were sure the chance to sing along to those famous chants of days gone bye would have been enough to cheer up football fan.
Doctors advised it could have the opposite effect over the festive period especially as DF will as usual still trying to work out the dot to dot team formation diagrams in his foreign managers bible.

Look out during 2015 for a planned musical treat. Mrs G's Love Songs  you just know this one will contain her rendition of Red Red Wine. Imagine what other magnificent love songs we have lined up for this one.


If you can't beat them join them. NURSE NURSE I support Bolton Wanderers