Amex Stadium

Next Game

Brighton v Bolton

Saturday, 23 August 2014, 15:00

Sky Bet Ch'ship

Macron Stadium

Last Game

Bolton 1 - 2 M'boro

Tuesday, 19 August 2014, 20:00

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

H

ow are people still backing Arsenal for the title? It's like you're predicting the tide not to come in; Arsenal will finish third or fourth and make the quarter final of the Champions League. It was ever thus.

thefuldutch
F365's Season Predictions

N

othing screams 'Panic!!' when your new manager brings Fellaini on as a sub for your star signing of the summer and within 5 minutes you concede the winner. I know it is only the first game in but I would seriously be sh1**ng myself I was a Man Utd supporter. This has the potential of being very nasty indeed.

stevemelbourne
Now Are You Nervous, Louis?

I

n the words of Pete Townsend, meet the new boss, the same as the old boss. Though I would comment that it's 3 more points than we picked up in the same fixture last year, so that's a 100% improvement.

uncle monty
No Sign That Liverpool Will Lessen Attacking Intent

Footer 365

Transfer News: Valeri Bojinov reportedly due to talk to West Ham about Premier League return

Former Manchester City striker Valeri Bojinov has travelled to England amid reports he will hold talks with West Ham.

Chelsea goalkeeper Thibaut Courtois wants rival Petr Cech to stay

Thibaut Courtois wants Petr Cech, his rival for the Chelsea goalkeeper's jersey, to stay at the club.

Champions League: Arsenal boss Arsene Wenger slams decision to send off Aaron Ramsey

Arsene Wenger described Aaron Ramsey's dismissal as "unacceptable" after Arsenal picked up a 0-0 draw at Besiktas.

Mail Box

Dear Brendan, Please Sign Di Maria

That's the request to Brendan Rodgers in the mailbox, and not just because it would annoy Man United fans. Plus, more thoughts on why Arsenal didn't want Cescy back...

Man United Fans Still Pining For Mourinho

The morning mailbox ponders where United might be now had the club appointed Jose Mourinho last season, while Chelsea fans are getting very excited...

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