singe Posted November 18, 2015 Share Posted November 18, 2015 Called in an insolvency expert after Chairman falls ill. Nearly £175m in debt. Some on here said we should chuck their sort of money about. http://www.telegraph.co.uk/sport/football/teams/bolton-wanderers/12002251/Bolton-call-in-insolvency-expert-to-deal-with-172.9m-debts-after-revealing-chairman-Phil-Gartside-is-seriously-ill.html Quote Link to comment Share on other sites More sharing options...
deyres42 Posted November 18, 2015 Share Posted November 18, 2015 Not worthy of comparsion. Quote Link to comment Share on other sites More sharing options...
BP1960 Posted November 18, 2015 Share Posted November 18, 2015 (edited) Do they own the stadium? Edited November 18, 2015 by BP1960 Quote Link to comment Share on other sites More sharing options...
Aarondo Westy Posted November 18, 2015 Share Posted November 18, 2015 Amir Khan and Dean Holdsworth taking over apparently. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 As far as I can tell, Bolton Arena is owned by Bolton Council, but is run by the not-for-profit community organisation, the Bolton Arena Trust. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 Amir Khan and Dean Holdsworth taking over apparently. Khan is not actually investing, just agreeing to put on a few fights at the stadium as part of a new consortiums' plan. I think it will involve some very hefty write offs. Quote Link to comment Share on other sites More sharing options...
Stevie_J Posted November 18, 2015 Share Posted November 18, 2015 Called in an insolvency expert after Chairman falls ill. Nearly £175m in debt. Some on here said we should chuck their sort of money about. http://www.telegraph.co.uk/sport/football/teams/bolton-wanderers/12002251/Bolton-call-in-insolvency-expert-to-deal-with-172.9m-debts-after-revealing-chairman-Phil-Gartside-is-seriously-ill.html Without knowing too much about their situation, I would assume that the majority of that debt was run up in trying to keep themselves in the top flight and failing, being left with Premier League player contracts after relegation. As said above, we can't really draw too many comparisons. Quote Link to comment Share on other sites More sharing options...
BP1960 Posted November 18, 2015 Share Posted November 18, 2015 As far as I can tell, Bolton Arena is owned by Bolton Council, but is run by the not-for-profit community organisation, the Bolton Arena Trust. Makes sense, I assume the council made a good profit from prime land near Burnden Park. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 Without knowing too much about their situation, I would assume that the majority of that debt was run up in trying to keep themselves in the top flight and failing, being left with Premier League player contracts after relegation. As said above, we can't really draw too many comparisons. Indeed. They lost £15m, incluiding wages on Johan Elmander who was signed for £8.2m, released on a free 3 years later an on £45k per week. But they were in the Prem for 11 years. It was more than one perons saying we should follow the example by Bolton, and some staing the interest repayments don't seem to be doing them any harm-before they fell into freefall. I'm just glad we didn't go down that route. Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted November 18, 2015 Share Posted November 18, 2015 (edited) Connor Wilkinson is paid 8k a week by them, says it all really. There annual playing budget has been cut from £32 million last season to £26 million this season, thats unsustainable, interest of 5% is being paid out annually on the debt. One man seems to be owed most of the debt Eddie Davies a lifelong fan who says he has no immediate plans to call in the debt and has to give 12 months notice to do so. Edited November 18, 2015 by yarddog73 Quote Link to comment Share on other sites More sharing options...
NewBlue Posted November 18, 2015 Share Posted November 18, 2015 I'm just glad we didn't go down that route. Me too. I much prefer playing against Fleetwood and Burton in the league than competitive fixtures against Bayern Munich, Sporting Lisbon and Atletico Madrid anyway... Quote Link to comment Share on other sites More sharing options...
unsworthlatic Posted November 18, 2015 Share Posted November 18, 2015 to be honest that would create great memories however for the sake of a long term future of sustainability I would rather be in our position than theirs Quote Link to comment Share on other sites More sharing options...
deyres42 Posted November 18, 2015 Share Posted November 18, 2015 to be honest that would create great memories however for the sake of a long term future of sustainability I would rather be in our position than theirs It's football, not a wind farm. Quote Link to comment Share on other sites More sharing options...
Frankly Mr Shankly Posted November 18, 2015 Share Posted November 18, 2015 Never mind all this. Hang in there Phil, lad. Just until the new year. Bodybag Bingo 2016 shoe-in. Quote Link to comment Share on other sites More sharing options...
unsworthlatic Posted November 18, 2015 Share Posted November 18, 2015 It sure is but I want a football match at Oldham Athletic to go to on a Saturday Afternoon for many years to come...Bolton on the other hand may not have that chance so for the sake of a couple of good European away games I'd rather not thanks Quote Link to comment Share on other sites More sharing options...
deyres42 Posted November 18, 2015 Share Posted November 18, 2015 And those 10+ years in the top flight, a cup final, Anelka, Djorkaeff, Jay Jay... Must have been a nightmare for them. Quote Link to comment Share on other sites More sharing options...
Stevie_J Posted November 18, 2015 Share Posted November 18, 2015 Never mind all this. Hang in there Phil, lad. Just until the new year. Bodybag Bingo 2016 shoe-in. He is if he's on your list. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 Me too. I much prefer playing against Fleetwood and Burton in the league than competitive fixtures against Bayern Munich, Sporting Lisbon and Atletico Madrid anyway... Fine whatever flaots your boat, but they wil be just 3 memories if they end up playing Frickley week in week out. Quote Link to comment Share on other sites More sharing options...
oafcmetty Posted November 18, 2015 Share Posted November 18, 2015 Fine whatever flaots your boat, but they wil be just 3 memories if they end up playing Frickley week in week out. Given their fanbase, they wouldn't be at that level for long. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 And those 10+ years in the top flight, a cup final, Anelka, Djorkaeff, Jay Jay... Must have been a nightmare for them. If anyone typifies Boom or Bust it's them. Anelka, come on. Mercenary player. Here today gone tommorow. I'd much rather have a Bunn, Ritchie or a Palmer. Or a Jay-Jay.. I'd even rather do it the Wigan way than the Bolton way. They will implode. Just too much debt. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 (edited) Given their fanbase, they wouldn't be at that level for long. Maybe, but climbing back to the Championship could take quite a long time. I am sure the same was said of Sheff Utd... Of course, it depends what happens to the debt. Plenty of worried Bolton fans I am sure, they have been mis-managed on a Risdale scale. Edited November 18, 2015 by singe Quote Link to comment Share on other sites More sharing options...
deyres42 Posted November 18, 2015 Share Posted November 18, 2015 Gartside taking home about 800k I believe. Things will be bottom out there, might be a few rough years for them in the meantime though. Quote Link to comment Share on other sites More sharing options...
Stevie_J Posted November 18, 2015 Share Posted November 18, 2015 Maybe, but climbing back to the Championship could take quite a long time. I am sure the same was said of Sheff Utd... Of course, it depends what happens to the debt. Plenty of worried Bolton fans I am sure, they have been mis-managed on a Risdale scale. This is a fine example of Corney's This is as good as it gets propaganda. You're desperately trying to make out we've got it better than Bolton and that you'd rather be in our shoes than theirs. Yes, they're in a :censored:load of debt (most of which is owed to a very rich Bolton fan, who you would assume will do what he can not to land them right in the :censored:). Certainly they need to sort out their finances but I believe they will and they might even visit us in League One for a while. But they've enjoyed eleven consecutive seasons in the top flight, were runners up in the League Cup and qualified for Europe twice. Sorry, but I'm really struggling with the 'I'd take twenty years in League One over that' perspective. Quote Link to comment Share on other sites More sharing options...
LaticsPete Posted November 18, 2015 Share Posted November 18, 2015 Look at how Portsmouth with their massive fan base have bounced back .....err Quote Link to comment Share on other sites More sharing options...
deyres42 Posted November 18, 2015 Share Posted November 18, 2015 Look at how Portsmouth with their massive fan base have bounced back .....err They really were built on sand though. Quote Link to comment Share on other sites More sharing options...
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