Finances at Bolton

[big fat yorkshire pudding]

Thought this article summed up the way football is moving at the moment - staggering amounts and pretty dangerous I'd say.

http://www.manchestereveningnews.co.uk/sport/football/football-news/bolton-wanderers-debt-up-1638-6456166

[mrfrostsdad]

Now that IS a scary amount of money!
Of course, if they went into administration they would probably have to pay something like 10p in the pound (similar to Leeds I think when they went tits up) so the debt would actually be reduced to £16m

It would be very interesting to know our total losses/gains season on season since the year we got relegated to the Conference

[big fat yorkshire pudding]

If you read the Bolton ones in detail they're quite scary in some ways.  Basically one man's company owns all the debt (based in Bermuda) to a tune of over 150m.  They try and bluff their way out of saying they made accounting adjustments.  That's just them trading the fact they spent way more on buying players than they got back, nothing more, nothing less - many won't understand the terminology used so it tends to work.

Of course they could get away with a CVA if anything went wrong, but only if the creditors agreed, given it's all the parent company near enough they'll be stuck under that.

However, the main thing is they have to get to a position under FFP that they can trade with only minimal losses.  At the moment they're still a very long way away from managing that.  Remember for example a club like us couldn't spend 10M on player transfers in a window under FFP, we'd make too big a loss and be under an embargo, hence we can't really ever have a huge spending spree funded by loans etc from an owner, not to that extent anyway.

[mrfrostsdad]

Agreed.
But there are loopholes. We could do a Cardiff City and have an owner (anyone) sponsor us to change our name to F###face United, change to playing in blue, change the name of the stadium to the F###face stadium! and give us £100m to do it!!

Now there's a plan!!

[PDX_Rover]

At least Bolton seem to realise that they are a championship club now and don't have a divine right to be in the prem.

[Dare to dream!]

Chelsea have announced losses of 50m!

[LincolnDonny]

Agreed.
But there are loopholes. We could do a Cardiff City and have an owner (anyone) sponsor us to change our name to F###face United, change to playing in blue, change the name of the stadium to the F###face stadium! and give us £100m to do it!!

Now there's a plan!!

This is NOT possible there is already a team in Sheffield with THAT name!