Macron Stadium

Next Game

Bolton v Derby

Saturday, 08 August 2015, 15:00

Sky Bet Ch'ship

Gartside downplays Bolton debt

Bolton's level of debt is not a cause for concern as they prepare to start their third season since being relegated from the Premier League, according to club chairman Phil Gartside.

Last Updated: 02/08/14 at 15:49 Post Comment

Bolton Wanderers have been out of the top flight since the end of the 2011/12 se

Bolton Wanderers have been out of the top flight since the end of the 2011/12 se

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Financial results released at the end of 2013 revealed Wanderers, who were relegated by a single point at the end of the 2011/12 season after 11 consecutive seasons in the top flight, were £163.8m in debt.

But Gartside said the vast majority of the debt is to the club's owner Eddie Davies (and his company Moonshift Investments) and should be considered as equity in the company.

"Every time we're mentioned in the press it's alongside the fact that we've got a lot of debt," Gartside told Sky Sports News

"I keep repeating again and again that the debt is to the owner and is really equity - it's no different to what people have done at Chelsea and other places.

"Eddie's been a great benefactor to Bolton Wanderers over a period of 15 or 16 years and we are fortunate in that we own every asset and we have very little bank debt."

Gartside said the financial disparity between the Premier League and the Championship was getting greater with every passing season.

"There's so much difference between what you get as a Premier League club and as a Championship club," he said.

"I've said for many years that the gap's too big now and we need to look at different ways of financing or structuring the league.

"The bottom Premier League club will receive £63m and you're looking at £5m in the Championship - it's not bridgeable even with parachute payments. People say parachute payments are an unfair system but at the end of the day they are used to pay down the contracts you've committed to in the Premier League."

Gartside praised Trotters boss Dougie Freedman for taking a pragmatic approach during his time at the club.

"I like the way he's worked in the last couple of years and we have a good relationship," said Gartside.

"He knows the situation and he's good at handling finances - he's a businessman as well as a football manager and we're privileged to have that. I'm looking forward to working with him for quite some time."

More of the games that matter

Upgrade in minutes or watch with a NOW TV Day Pass.

Related News

Most Commented

Readers' Comments

D

on't go to England at your age, you'll either be mugged or not appreciated. Or made to lump the ball long to a bloke who looks like a mascot.

megabrow (cufc)
Beckenbauer warns Schweinsteiger

F

rom the headline I presumed he meant boots, pants, jim-jams, toothbrush and paste, passport, tickets, premier inn long-term package, Scouse-English-Portuguese-German dictionary, 'How to be a 9 and 3/4' by B. Rodgers, few dozen tins of food and Evian because you can never be sure about the local food/water...

KevinBoatang
Firmino has 'everything' for PL - Willian

H

e looked like he was playing with a plastic pound shop ball in the wind against Juve, his passing was so bad.

paddy7s
Sergio Ramos: Exactly What United Need

Footer 365

Dani Osvaldo leaves Southampton two years early

Southampton have terminated the contract of record signing Dani Osvaldo.

Slaven Bilic missing from West Ham bench for Europa League opener

Academy manager Terry Westley will be in charge when West Ham make their Europa League debut against Andorran side FC Lusitans.

Matej Vydra joins Watford on five-year deal after two loan spells

Striker Matej Vydra is back with Watford, this time on a permanent basis after signing a five-year deal to join the club from Udinese.

Mail Box

Are United Aiming Too High On Transfers?

One mailer wonders whether United are aiming a little high on their transfer ambitions. Plus, BAHs, West Ham in Europe, petty annoyances and Michu to United...

Liverpool Are Attractive To Strikers

You've got little competition and bags of service from midfield, so surely strikers would love to join Liverpool? Plus England's future, Callum Wilson handshakes and...

© 2015 Sky Ltd. All Rights Reserved A Sky Sports Digital Media company