Macron Stadium

Next Game

Bolton v Derby

Saturday, 08 August 2015, 15:00

Sky Bet Ch'ship

Bolton's debts on the rise

Bolton have announced a financial loss of £50.7million for the year ending June 2013 with net debts rising to £163.8million.

Last Updated: 31/12/13 at 12:23 Post Comment

Reebok Stadium: Big debts at Bolton

Reebok Stadium: Big debts at Bolton

The club were relegated in May 2012 having spent the previous 11 years in the Premier League and annual turnover has fallen from £58.5million to £28.5million.

Chairman Phil Gartside blamed the huge losses on relegation and although the club saved £17.9million on wages, said additional revenue streams would have to be found.

Gartside said in a club statement: "This year's results show the difficulties faced in the football business when a club has enjoyed a sustained and successful period in the Premier League, in our case 11 years, then suffers relegation back to the Football League Championship.

"The ever widening gap between the two leagues makes the transition extremely difficult, even with the benefits of parachute payments from the Premier League."

Reebok Stadium attendances are down by 24 per cent, while sponsorship and advertising revenue had fallen from £4.3million to £1.4million.

Gartside thanked the club's owner Eddie Davies for keeping them in business but said they would now be forced to look for other investors because of English football's new Financial Fair Play rules.

Gartside added: "It should go without saying that Eddie Davies continues to provide a humbling level of support to the club.

"However, the financial support given by owners is no longer possible in this league without severe penalty.

"We are responding to a changing environment by improvement and development of the wider Burnden Leisure business interests.

"This year we secured sole ownership of the hotel, expanded our education business and applied for planning permission to increase our non-football operations to improve revenues over the medium to long term.

"We will continue to invest, both in the long and short term, where the returns can be justified.

"However, Financial Fair Play rules require an alternative funding structure and Bolton Wanderers is very much moving towards a self-sustainable future.

"Looking forward we have to recognise we are no longer a Premier League club in the Championship, but a Championship club with ambitions to play in the Premier League - a stark reality of the financial rules now imposed."

Related News

Most Commented

Readers' Comments

I

think that puts all doubts over Benteke's quality to bed. Can he do it after receiving the ball to feet, in the box, totally unmarked, on a warm, sunny afternoon in Swindon? Oh yes he can! This year is definitely Liverpool's year. YNWA.

rationalmanc
WATCH: Benteke's debut screamer

A

ll very well selling all midfield and strikers but unless we bring anyone in that is better than what we had then it will be a terrible transfer window in my view. Sorted out the defense but our midfield and striker options look very light.

bigo
Spurs Halfway To The Perfect Summer

L

ove it when Jose accuses others of being defensive, cynical and playing to win. If I was Wenger, I'd get that quote laminated and framed - surely the biggest compliment he's ever received from Mourinho. You've got him riled Arsene - you're relevant again!

suarez_blind
Jose rues pitch and weather after defeat

Footer 365

Arsenal manager Arsene Wenger has 'difficult questions'

Arsenal centre-half Per Mertesacker says manager Arsene Wenger has a lot of "difficult questions" to answer.

West Ham forward Enner Valencia ruled out for up to 12 weeks

West Ham forward Enner Valencia has been ruled out for up to 12 weeks with a leg injury.

Jordy Clasie says he'd have rejected move to Man United in order to join Southampton

Jordy Clasie claims he'd have rejected Man United to sign for Southampton - saying it's "better to start lower and finish higher".

Mail Box

There's A Lot Of Anger About TV...

...and how much you have to pay - largely for games you don't actually want to watch. Many of you are forced to go illegal. We also have mails on Chelsea, Angel di Maria and...

Not Just A Friendly. This Had Meaning...

Arsenal fans are very excited about beating Chelsea (don't remind them about last year), while there is criticism for BT and a football fan tired of being screwed by TV...

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