HTG Posted January 18, 2016 Share Posted January 18, 2016 Just listening to 5 Live - never realised they were quite so fucked. How any recent PL team can be £179m in debt is beyond me with the level of cash flung at them. Sounds like they will scrape through this if they pay HMRC their £2m as there are buyers waiting to pick up the scraps for a pittance. Hard to have much sympathy. Link to comment Share on other sites More sharing options...
The Second Andy Goram Posted January 18, 2016 Share Posted January 18, 2016 Link to comment Share on other sites More sharing options...
ICTChris Posted January 18, 2016 Share Posted January 18, 2016 I think they owe the vast majority of it to one guy, who has accepted he won't get anything back. Link to comment Share on other sites More sharing options...
Desp Posted January 20, 2016 Share Posted January 20, 2016 What's the latest with Phil Gartside? He was reported as being gravely ill towards the end of last year, but nothing has been reported since. May, or may not, have Phil Gartside as my Dead Pool captain.... Link to comment Share on other sites More sharing options...
mizfit Posted January 20, 2016 Share Posted January 20, 2016 Can't afford January's wages, transfer embargo and an owner not willing to invest more money.... Sevco of England ahoy. Link to comment Share on other sites More sharing options...
pub car king Posted January 20, 2016 Share Posted January 20, 2016 They spanked all that money for mid table obscurity in the premiership playing some abysmal football. Link to comment Share on other sites More sharing options...
paul-r-cfc Posted January 20, 2016 Share Posted January 20, 2016 Scary that a club like Bolton can have debt of nearly 200m. How did they think that would end..... Link to comment Share on other sites More sharing options...
peasy23 Posted January 20, 2016 Share Posted January 20, 2016 Paid players big wages when in the EPL, without including any clauses to reduce their wages should they go down. They then couldn't move players on quickly enough because they simply weren't good enough and nobody else was willing to take on their high wages. The only saving grace for them is that the owner Eddie Davies is willing to write off the debts if he can get a buyer, but the down side is that if he doesn't put any more money in then they have no funds to continue. They've already had a couple of transfers fall through that they were hoping would bring in millions. Link to comment Share on other sites More sharing options...
mizfit Posted January 20, 2016 Share Posted January 20, 2016 Paid players big wages when in the EPL, without including any clauses to reduce their wages should they go down. They then couldn't move players on quickly enough because they simply weren't good enough and nobody else was willing to take on their high wages. The only saving grace for them is that the owner Eddie Davies is willing to write off the debts if he can get a buyer, but the down side is that if he doesn't put any more money in then they have no funds to continue. They've already had a couple of transfers fall through that they were hoping would bring in millions. It's definitely gonna result in a fall worse than Portsmouth. The first club to have played in the premier League relegated to Non-League? Link to comment Share on other sites More sharing options...
YassinMoutaouakil Posted January 21, 2016 Share Posted January 21, 2016 It's definitely gonna result in a fall worse than Portsmouth. The first club to have played in the premier League relegated to Non-League? Can't think of any others. Not sure if Wimbledon would count. Did Luton play in the Premiership? Link to comment Share on other sites More sharing options...
Jacksgranda Posted January 21, 2016 Share Posted January 21, 2016 Can't think of any others. Not sure if Wimbledon would count. Did Luton play in the Premiership? Don't know, but they were in the top flight. Luton also had quite a spectacular fall from Division One (1959/60) to Division Four (1965/66) Link to comment Share on other sites More sharing options...
Desp Posted January 21, 2016 Share Posted January 21, 2016 Luton have never been in the Premiership. I believe it's only Swindon & Pompey who've played in all 4 tiers since the formation of the EPL. Edit, stick Bradford in as well. They've been in all 4 tiers. Link to comment Share on other sites More sharing options...
Ivo den Bieman Posted January 21, 2016 Share Posted January 21, 2016 Can't think of any others. Not sure if Wimbledon would count. Did Luton play in the Premiership? They were relegated from Division One in the last season of its existence, 1991/92, and have never played in the "Premiership" Link to comment Share on other sites More sharing options...
s_dog Posted January 21, 2016 Share Posted January 21, 2016 Its not just paying players big wages then not being able to continue funding them when they got relegated, even when they were in the Premier League their debt went up every year because they were spending more than they were bringing in. They've been living beyond their means for years. Bolton News journo: "I've been predicting eventual financial meltdown at Wanderers for 15 years. While some were buying the theory that Wanderers' debt was manageable, I didn't. And as the debt rose from £30million to £40m then £60, £90m, £120, £160 and finally to £172m in the most recent accounts my view never changed." They were only relegated three and a half years ago, and the Premier League parachute payment is only just now starting to run out. But their bigbest problem is that Eddie Davies is no longer willing to put any more money into the club. Most of their debt is to him and he'll just write it off once someone else comes in and takes over. In the meantime though, they are pretty fucked. They apparently cut their annual losses from £50m to around £7M by 2014, but they've blamed things like failing to sell players and failure to sell off land at their stadium for why they are struggling to pay staff. Bolton spokesman said "As the Premier League parachute funding disappears we need to find further funding to replace it", so they are clearly still living beyond their means. Link to comment Share on other sites More sharing options...
MEADOWXI Posted January 21, 2016 Share Posted January 21, 2016 Think they can only go the way of Portsmouth, and it looks like a disaster of their own making, £200M in debt is almost beyond belief wonder how many more EPL or Championship teams are a couple of bad seasons or a relegation away from the same issues, and I say that as a Villa fan. Although from now the money for finishing bottom of EPL is £14.5M, and the first parachute payment next seasonis about £32M, massively increased. Hard to believe that Portsmouth are in terms of Hampshire closer to Eastleigh and Havant&Waterlooville in terms of league positions than tradition rivals Southampton. Portsmouth v Eastleigh could be the Hampshire derby next season if Eastleigh are promoted and Portsmouth fail. Bolton looking forward to games versus Southport and Morecambe in foreseeable future. Link to comment Share on other sites More sharing options...
7-2 Posted January 21, 2016 Share Posted January 21, 2016 They've been at it for longer than 15 years. There was a picture of their old Burnden Park on twitter recently which highlighted the prominent supermarket at one end of the ground stating they had to sell part of the ground to pay off some of their debts. A different pic but it shows the in-house shopping experience Wanderers fans had to endure... Horrific. Link to comment Share on other sites More sharing options...
NorthernLights Posted January 21, 2016 Share Posted January 21, 2016 They've been at it for longer than 15 years. There was a picture of their old Burnden Park on twitter recently which highlighted the prominent supermarket at one end of the ground stating they had to sell part of the ground to pay off some of their debts. A different pic but it shows the in-house shopping experience Wanderers fans had to endure... Horrific. Link to comment Share on other sites More sharing options...
7-2 Posted January 21, 2016 Share Posted January 21, 2016 Ooft. I dread to think how little of the right hand side of the pitch you saw if you were in the right hand side of that section, looking at the pitch. That'd be the away end then I take it! Link to comment Share on other sites More sharing options...
The Second Andy Goram Posted January 21, 2016 Share Posted January 21, 2016 Oxford United not go from tier 1 to 5? Link to comment Share on other sites More sharing options...
Jacksgranda Posted January 21, 2016 Share Posted January 21, 2016 Oxford United not go from tier 1 to 5? They're in the same category as Luton, they've played in the top flight but not in the Premiership. Link to comment Share on other sites More sharing options...
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