Vale Park

Next Game

Port Vale v Bolton

Wednesday, 30 July 2014, 19:45

Friendly Match

Prenton Park

Last Game

Tranmere 1 - 1 Bolton

Friday, 25 July 2014, 19:30

Friendly Match

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

H

e made his power play to try and get Sheikhy to raise his wages or trade him to PSG. PSG were probably not interested and he is stuck with no cake and no vacation. @Jay_D> Surely you jest about FFP being real, right? All Platini is doing is making billionaries pay measly fines, so he and his cronies can get rich. If a fool can pay 50 mil for David Luiz, he will happily pay some fine to UEFA. FFP has failed as for it to succeed UEFA had to take it...

Synergy
Toure: I am staying with City

G

uess we can expect Toure's explanation of his behaviour around the same time Pete Townshend publishes his book then.

ceeps
Toure: I am staying with City

D

amn you Yaya, don't scare me like that! I only ate the icing. I didn't eat the soft and scrumptious middle - I will buy you another cake!

MCFC87
Toure: I am staying with City

Footer 365

Transfer News: Manchester United may need two more defenders, according to Lee Sharpe

Lee Sharpe says Manchester United may need to add another couple of defenders to their squad ahead of the new season

Transfer News: QPR want Watford striker Troy Deeney to replace Loic Remy

QPR are interested in Watford's Troy Deeney to replace Liverpool-bound striker Loic Remy, Sky sources understand.

Premier League: Manchester City winger Jesus Navas hungry for more trophies

Jesus Navas believes Manchester City have the quality to win the Premier League and Champions League this season.

Mail Box

Are Pre-Season Tours Really A Problem?

Are pre-season tours really a problem? Liverpool went to Australia last summer and it didn't prevent them from having a good season. Plus, thoughts on LvG and keepers...

It Isn't Easy Supporting Spurs, You Know

We have a long mail about the travails of supporting Spurs, plus Friday thoughts on Marko Marin, marketing, victory v beauty, travelling and vanishing sprays...

© 2014 British Sky Broadcasting Ltd. All Rights Reserved A Sky Sports Digital Media property