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Bolton announce rise in debts

Bolton's debt has increased to £136.5million in the last financial year - up from £110.6 million on the previous year the club announced on Monday.

Last Updated: 13/11/12 at 16:19 Post Comment

Phil Gartside: Committed to club's finances

Phil Gartside: Committed to club's finances

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The Whites' parent company, Burnden Leisure, has recouped a considerable amount from the transfers of Gary Cahill, Ali Al Habsi and Matt Taylor but a heavy reduction in television revenue and gate receipts has taken its toll.

Owner Eddie Davies has moved to re-finance monies owed to him by the club into a long-term loan allowing them to repay the figure over a period of between two and 10 years.

Commenting on the figures, chairman Phil Gartside said: "We continue to face a tough economic climate, but we have continued to invest across the business, and for the second year we have reduced our losses.

"Key to this set of figures is the fact Eddie Davies has converted his investment in our club from short-term to long-term debt.

"It is a huge vote of confidence and underlines the on-going support and commitment he has for our club."

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nd yet... Jermain Defoe is still going to pronounce himself gobsmacked when he learns he hasn't made the England squad for the Euro qualifiers.

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e could release Diaby and then re-sign him when nobody else does and he would literally be like a new signing.

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e pay the living wage, living wage, living wage, and that's the way we like it, we like it, we like it!!! Wooo ohhhh ooooohh

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