PaulC Posted December 31, 2013 Share Posted December 31, 2013 Bolton have announced they are £163.8m in debt after parent company Burnden Leisure PLC released its figures for the year ending June 2013 - the club's first season in the Championship. Thats scary for a club of their size. Link to comment Share on other sites More sharing options...
BOF Posted December 31, 2013 Moderator Share Posted December 31, 2013 I was going to post this earlier in the relegation thread for those who think any good can come from relegation. For every Newcastle who re-group and bounce back stronger, there are ten Boltons who flounder and struggle. Link to comment Share on other sites More sharing options...
Rovers13 Posted December 31, 2013 Share Posted December 31, 2013 Building up debt while in the prem should never, ever happen like Bolton did. It's similar to countries that build up debt while they have a good economy. When things go bad, you're screwed. 2 Link to comment Share on other sites More sharing options...
PaulC Posted December 31, 2013 Author Share Posted December 31, 2013 The problem is not just relegation though is it. If they had of managed their wage bill better like we are doing then they would be able survive being relegated. All clubs should manage within their means. Link to comment Share on other sites More sharing options...
PaulC Posted December 31, 2013 Author Share Posted December 31, 2013 Building up debt while in the prem should never, ever happen like Bolton did. It's similar to countries that build up debt while they have a good economy. When things go bad, you're screwed. Which makes me think that what Lerner is doing is right. Link to comment Share on other sites More sharing options...
Dodgyknees Posted December 31, 2013 Share Posted December 31, 2013 (edited) Building up debt while in the prem should never, ever happen like Bolton did. It's similar to countries that build up debt while they have a good economy. When things go bad, you're screwed. Which makes me think that what Lerner is doing is right. Hard and fast is not always the best solution, he is trying to it back at a rate which is also very harmful. One extreme to another. Edited December 31, 2013 by dodgyknees Link to comment Share on other sites More sharing options...
PaulC Posted December 31, 2013 Author Share Posted December 31, 2013 Building up debt while in the prem should never, ever happen like Bolton did. It's similar to countries that build up debt while they have a good economy. When things go bad, you're screwed. Which makes me think that what Lerner is doing is right. Hard and fast is not always the best solution, he is trying to it back at a rate which is also very harmful. One extreme to another. Yes good point Link to comment Share on other sites More sharing options...
Mantis Posted December 31, 2013 Share Posted December 31, 2013 This doesn't come as a surprise to me. I seem to remember hearing that they had massive debt when they were relegated 2 and a half years ago. Link to comment Share on other sites More sharing options...
CarewsEyebrowDesigner Posted December 31, 2013 Share Posted December 31, 2013 Hard and fast is not always the best solution, 3 Link to comment Share on other sites More sharing options...
Dodgyknees Posted December 31, 2013 Share Posted December 31, 2013 This doesn't come as a surprise to me. I seem to remember hearing that they had massive debt when they were relegated 2 and a half years ago. Aye, I think they always had a lot of debt. Link to comment Share on other sites More sharing options...
Jimzk5 Posted December 31, 2013 Share Posted December 31, 2013 Its nor really debt though, its owed to the bloke that owns the club who is happy to fund the losses Link to comment Share on other sites More sharing options...
Avfc96 Posted December 31, 2013 Share Posted December 31, 2013 A club that overspent, had a massive unsustainable wage structure, didn't really achieve anything, owed a huge amount of money to its owner and is now struggling. Where have I seen that before . Link to comment Share on other sites More sharing options...
The Fun Factory Posted December 31, 2013 Share Posted December 31, 2013 That is a chronic debt built on years of spending above their needs. It is mental how much broadcasting revenue drops when you get relegated- from 42 million to 19 millon, of which 16 million is the parachute payment. They are still spending over 37 million on wages which is crazy. Over 150 million is owned to the owner so I guess they are safe from administration. They were punching above their weight to spend over 10 years in the premier league when you consider they have 2 of the richest clubs in the world on their virtual doorstep. On another issue I have read that Chelsea lost 49 million this year- and still make the ffp rules. Go figure. Link to comment Share on other sites More sharing options...
Jimzk5 Posted December 31, 2013 Share Posted December 31, 2013 It is also a crazy amount of debt considering for years under san allardyce they only signed free transfer players Link to comment Share on other sites More sharing options...
Avfc96 Posted December 31, 2013 Share Posted December 31, 2013 It is also a crazy amount of debt considering for years under san allardyce they only signed free transfer players I think that their debt was only around £20 million before the start of the 07/08 season. It was the signings after that have financially crippled them, like Johan Elmandher. Link to comment Share on other sites More sharing options...
Genie Posted December 31, 2013 Share Posted December 31, 2013 Is that £163m lost in the last 12 months or total? Chelsea have lost best part of £50m this year, I expect their total is many times more than this. Link to comment Share on other sites More sharing options...
PaulC Posted December 31, 2013 Author Share Posted December 31, 2013 Is that £163m lost in the last 12 months or total? Chelsea have lost best part of £50m this year, I expect their total is many times more than this. Its their total net debt gone up from about 130 mil the year before Link to comment Share on other sites More sharing options...
dont_do_it_doug. Posted January 2, 2014 Share Posted January 2, 2014 How do you lose £30m in the championship and NOT get promoted? Mental. Link to comment Share on other sites More sharing options...
maqroll Posted January 2, 2014 Share Posted January 2, 2014 Bolton are so boring on so many levels I can hardly be bothered to read the whole story on this. Link to comment Share on other sites More sharing options...
Rovers13 Posted January 4, 2014 Share Posted January 4, 2014 How do you lose £30m in the championship and NOT get promoted? Mental. Leicester did it last year too. Link to comment Share on other sites More sharing options...
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