GlossopLatic Posted November 18, 2015 Share Posted November 18, 2015 The £172m debt has been built up for years and years They plunged into debt with the creation of the new stadium while they were in the Premier league they didn't necessarily pay much in transfer fees but bought in the likes of Djorkaeff, Okocha , Campo, Hierro who had no resale value and were paid high wages so while they had success on the pitch they were racking up the running losses and debt off it. Owing the debt to someone like Eddie Davies is only the equivalent of Abramovich being owed £3/4 of a billion by Chelsea its an insurance policy in case the club becomes profitable they can call it in Bolton don't remotely like getting promoted so hence why Davies is cutting his losses and will have to make a monumental write off in the process. They will have a few rough years which will see them come into league 1 probably next season and stay here for a couple of years but once they get new owners they will work their way back up they are probably safer than they look on the face of it, if they owed £172m to a bank then they would be now being liquidated. Davies might not want to write the whole debt off and hold some back in case they get back to the Premier league, but the less he is prepared to write off the harder it will be to sell the club. Quote Link to comment Share on other sites More sharing options...
oafcmetty Posted November 18, 2015 Share Posted November 18, 2015 Look at how Portsmouth with their massive fan base have bounced back .....err £20 to playershare if they're not back in L1 after this season or next. Few more years and they'll be in the Championship. Quote Link to comment Share on other sites More sharing options...
HarryBosch 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 "The Balanced Books Years" - something to tell the grandkids about..... Quote Link to comment Share on other sites More sharing options...
HarryBosch 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 They'll be fine. Just like everyone else who's had a right go at it and failed. Quote Link to comment Share on other sites More sharing options...
HarryBosch 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. They won't have been able to enjoy a minute of it for all the worrying about how much money their owners were spending - that's for sure.... Quote Link to comment Share on other sites More sharing options...
HarryBosch Posted November 18, 2015 Share Posted November 18, 2015 (edited) Look at how Portsmouth with their massive fan base have bounced back .....err If I was offered the 10 years or so they had with the tradeoff being relegation back down through the leagues afterwards I'd accept it in a heartbeat. Edited November 18, 2015 by HarryBosch Quote Link to comment Share on other sites More sharing options...
HarryBosch Posted November 18, 2015 Share Posted November 18, 2015 Owing the debt to someone like Eddie Davies is only the equivalent of Abramovich being owed £3/4 of a billion by Chelsea its an insurance policy in case the club becomes profitable they can call it in Bolton don't remotely like getting promoted so hence why Davies is cutting his losses and will have to make a monumental write off in the process. Or Oldham owing £6m to Simon Blitz....? In fact, could you argue that £6m puts us in more peril than Bolton's £172m? Quote Link to comment Share on other sites More sharing options...
Dave_Og Posted November 18, 2015 Share Posted November 18, 2015 Really intrigued as to how they can owe that much to largely one person. Davies is obviously a successful chap but his cv indicates a successful career with large companies which isn't usually the route to extreme wealth Quote Link to comment Share on other sites More sharing options...
MAC0AFC Posted November 18, 2015 Share Posted November 18, 2015 (edited) They won't have been able to enjoy a minute of it for all the worrying about how much money their owners were spending - that's for sure.... Haha totally agree, United fans for years used that as a stick to poke City fans with "he's not worth that much" "can't believe you're paying him £200'000 a week in wages" "you're buying the league" Why did they think City fans would be sat at home worrying how much their owners are spending on a player... aslong as they're having a brilliant time winning titles I wouldn't have give a toss. Edited November 18, 2015 by MAC0AFC Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted November 18, 2015 Share Posted November 18, 2015 This thread demonstates how brainwashed the majority of our fans have become to accepting plodding along in the bottom third of League 1 as some sort of achievement. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 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. I'm not desperately trying to make out we've got it better than Bolton, I just believe we have. How is the £175m any more secure than our £6m? I am taking into account our glory years as well as the last decade and projecting forward. Our glory time v theirs, and same current debt. I'd have ours, becasue that £175m is such an anchor. THeir glory years become farther and farther back too. I envisage Bolton a lot longer in the wilderness than you. Hence why I think we are better off. They haven't been taken over yet, and several previous deals have fallen through. £6m is nothing to overcome in comparision to £175m even with comparative fanbases. Of course, it does depend on what happens to the debt, but I cannot see the whole £175m written off just like that. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 Or Oldham owing £6m to Simon Blitz....? In fact, could you argue that £6m puts us in more peril than Bolton's £172m? Or you can argue that it is not. This thread demonstates how brainwashed the majority of our fans have become to accepting plodding along in the bottom third of League 1 as some sort of achievement. I donlt accept it as some sort of acvhievment, I just know what position I would rather be in. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 This thread demonstates how brainwashed the majority of our fans have become to accepting plodding along in the bottom third of League 1 as some sort of achievement. This thread demonstrates peeople have very short memories as to what it felt like when Fitz Hall et al were being sold for tuppence, and how close we were to going under. Pompey fans even closer to going under and more times, and languishing where they have been. It also demonstrates how easy some epople think it is to bounce back up. Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted November 18, 2015 Share Posted November 18, 2015 The carparks around the Macron where purchased by Davies earlier this year and leased back to the club so I'd suggest he may be trying to claw back some of his outlay, sound familiar? Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted November 18, 2015 Share Posted November 18, 2015 This thread demonstrates peeople have very short memories as to what it felt like when Fitz Hall et al were being sold for tuppence, and how close we were to going under. Pompey fans even closer to going under and more times, and languishing where they have been. It also demonstrates how easy some epople think it is to bounce back up. Oh I remember it and all the hollow promises of the new owners but there you go. Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 The carparks around the Macron where purchased by Davies earlier this year and leased back to the club so I'd suggest he may be trying to claw back some of his outlay, sound familiar? Interesting. £6 a car, 2,000 spaces. 25 matches, say, per year. That's nearly 600 years to repay the debt! Quote Link to comment Share on other sites More sharing options...
Dave_Og Posted November 18, 2015 Share Posted November 18, 2015 The carparks around the Macron where purchased by Davies earlier this year and leased back to the club so I'd suggest he may be trying to claw back some of his outlay, sound familiar? Bought from who? I thought Bolton didn't own the ground? Anyway, it will take a lot of car park charges to pay back £170m! Quote Link to comment Share on other sites More sharing options...
singe Posted November 18, 2015 Author Share Posted November 18, 2015 Oh I remember it and all the hollow promises of the new owners but there you go. And so Boltons's new owners (if any materialise) are going to be any less hollow? Quote Link to comment Share on other sites More sharing options...
HarryBosch Posted November 18, 2015 Share Posted November 18, 2015 This thread demonstates how brainwashed the majority of our fans have become to accepting plodding along in the bottom third of League 1 as some sort of achievement. Hundreds of Oldham wives sleep deprived from their husbands tossing & tuning every night muttering about "budgets" and "FFP". Sleepwalking & shaking imaginary buckets. Waking up in cold sweats after dreaming we got promoted & suffered Barry's prophecied financial oblivion.... Quote Link to comment Share on other sites More sharing options...
HarryBosch Posted November 18, 2015 Share Posted November 18, 2015 I envisage Bolton a lot longer in the wilderness than you. Hence why I think we are better off. By "wilderness" do you mean League One where we've already been for 20 years and show no signs of leaving? Quote Link to comment Share on other sites More sharing options...
jsslatic Posted November 18, 2015 Share Posted November 18, 2015 Interesting. £6 a car, 2,000 spaces. 25 matches, say, per year. That's nearly 600 years to repay the debt! I bet many of their fans will be pissed off at having to pay £12 each for car parking every game. Quote Link to comment Share on other sites More sharing options...
mikeroyboy Posted November 18, 2015 Share Posted November 18, 2015 This thread demonstates how brainwashed the majority of our fans have become to accepting plodding along in the bottom third of League 1 as some sort of achievement. What 'exactly' are you doing or proposing to do then - if I may be so Bold? Quote Link to comment Share on other sites More sharing options...
yarddog73 Posted November 18, 2015 Share Posted November 18, 2015 What 'exactly' are you doing or proposing to do then - if I may be so Bold? Following the rest over the cliff. Quote Link to comment Share on other sites More sharing options...
BP1960 Posted November 18, 2015 Share Posted November 18, 2015 (edited) I bet many of their fans will be pissed off at having to pay £12 each for car parking every game. There might be a lot less of them next season. Edited November 18, 2015 by BP1960 Quote Link to comment Share on other sites More sharing options...
mikeroyboy Posted November 18, 2015 Share Posted November 18, 2015 That figures, at the back. Quote Link to comment Share on other sites More sharing options...
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