ranger_syntax 4,422 Posted January 1, 2014 Share Posted January 1, 2014 http://www.theboltonnews.co.uk/news/10905726.Bolton_Wanderers__debt_reaches_record_levels/ FINANCIAL reality continues to bite at Wanderers after the club revealed they were a record £163.8 million in the red this morning. Parent company Burnden Leisure Plc reported losses of £50.7m, which see debts rise massively from last year’s £136.5m. Turnover was down by £30m from £58.5m to £28.5m, while total staff costs for the year were £37.4m, down from £55.3m. The wage bill, currently standing at £32.7m is at its lowest level since 2007. It's quite a lot of money in comparison to a turnover of £28.5m. The article also mentions that attendance has dropped by 28% although it does not appear to mention what time period this happened in. How does one get out of a situation like that? 0 Quote Link to post Share on other sites More sharing options...
Ser Barristan Selmy 222 Posted January 1, 2014 Share Posted January 1, 2014 Good. They're a horrible wee club that played horrific football and were happy to just sit in mid table with no ambition of achieving anything. Too many poor teams in England have had money they shouldn't get and it's coming back to bite them. They splashed the cash on mediocrity instead of focusing on youth development and scouting like most mid table clubs across Europe do. One thing I like about La Liga is you don't really get mid table clubs that are just happy to finish in 10th place. A club that finishes near the relegation zone one season could be challenging for a European spot the next season. EG Sociedad who nearly won the league one season then nearly got relegated the next. 0 Quote Link to post Share on other sites More sharing options...
Gribz 912 Posted January 3, 2014 Share Posted January 3, 2014 Same as Charlton, had a manager who knew how to just stay in the league and once he went they dropped like a stone. Clubs like Stoke need to realise how lucky they are just to be a Premier league club and not wish for improvements and getting rid of their managers. Pulis cemented them even though they were poor but I see no difference in Stoke this season under Hughes, they are still horrible to watch. Some clubs just have an unattractiveness about them. Sunderland are another. 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.