Bolton Wanderers

 

Accounts for the year to 30 June 2008

 

Ownership 95% owned by Edwin Davies, via Fildraw Private Trust, believed to be in the Isle of Man, a tax haven

 

Turnover ?59.1m (up from ?51m last year: 16% increase)

 

Gate and match-day ?6.8m

 

Hotel ?8.7m

 

TV and broadcasting ?34.2m

 

Corporate hospitality ?2.4m

 

Merchandising ?1.2m

 

Sponsorship and advertising ?3.5m

 

Other football income ?2.3m

 

Wage bill ?39m (up from 30.7m in 2007, a 27% increase)

 

Wages as proportion of turnover 66%

 

Loss before tax ?8.4m

 

Debts ?52m

 

Interest payable ?3m

 

Highest paid director Allan Duckworth: ?376,000

 

State they're in With gates 11.4% down despite season ticket price reductions, losses and debts up, and Bolton one of the clubs more vulnerable to the recession, Wanderers are struggling to keep up. The club's owner, the Isle of Man-based Edwin Davies, loaned a further ?4.5m, apparently at annual interest of 10%, for which the club paid a ?623,000 arrangement fee. Few doubted that the chairman Phil Gartside's idea for a "Premier League Second Division" springs in part from his own fear that Bolton, at some point, are likely to face the financial horror of relegation.

 

http://www.guardian.co.uk/football/2009/ju...ier-league-debt

 

1st thing i noticed, steve gibson does not take a salary from the club.

Edited September 24, 200916 yr by HomerJay

That is a really good article, fascinating reading. There are so many points to pick up on but one thing that alarms me is the % of turnover which is spent on wages along with the continued % increase in wages year on.

 

It is surely only a matter of time before we have the first Premier League club going into administration.

http://www.guardian.co.uk/football/2009/ju...ier-league-debt

 

1st thing i noticed, steve gibson does not take a salary from the club.

 

 

Maybe if he relied on the club for his salary, he'll pay more attention to the shite he employs.

 

 

 

Our figures have been out for nearly a year now, so nothing new in the Guardian article for us apart from reinforcing that without the Premiership income stream we would / will be fcuked.

Edited September 24, 200916 yr by YATESY

I'll stick my next out and say Allan Duckworth doesn't deserve that renumeration. He should be fucking embarrassed to draw over 7k a week from a business that is quite clearly failing.

Despite everything, would anyone WANT to owe Abromovich ?700 million?

 

Not sure I would.

It is surely only a matter of time before we have the first Premier League club going into administration.

 

Will never happen whilst the banks / financial backers can see the continuing income stream from TV revenue with being in The Premiership.

 

 

If Sky went bust or pulled the plug, then many clubs in The Premiership would be asked to visit their bank manager to explain how the loans and overdrafts are to be serviced in the future. For us, it will be a massive test of how deep Eddie's pockets are or more likely - how far his arms are prepared to reach into those pockets.

If/When the top 4/5 clubs decide to clear off th eform a European Super League type thing (as is often mentioned) then Sky wouldn't offer anywhere near what is offered now, and pretty much everybody else that is left behind would be in dire trouble. At present, the bubble is just getting bigger and bigger, it will eventually pop (or as financial folk would say "have a correction")

 

The difference in gate and match day earnings between ourselves and all the top 4 is just incredible. In fact, Man Utd probably turnover as much in two home games as we do in an entire season...............

I'll stick my next out and say Allan Duckworth doesn't deserve that renumeration. He should be fucking embarrassed to draw over 7k a week from a business that is quite clearly failing.

 

its a lot less than other clubs, obviously doesnt make it right though.

So all the talk of the signings/sale of players over the last 2 years reducing the wage bill after SA was bullshit?

The accounts make it clear that Wigan, who expect to continue to make losses, would not be solvent without Whelan's financial backing.

 

It could be worse, we could be in Wigan's position. Roll on the day when Whelan gets bored and moves on!

So all the talk of the signings/sale of players over the last 2 years reducing the wage bill after SA was bullshit?

 

 

I raised this sometime ago.

 

As the squad has got smaller (how many times did we hear the complaint of the smallest squad etc etc ) and the expensive Galacticos from BSA days left the club, our wage bill has some how increased. I fear to know the money that our squad of average Premiership players is on!

I'll stick my next out and say Allan Duckworth doesn't deserve that renumeration. He should be fucking embarrassed to draw over 7k a week from a business that is quite clearly failing.

 

 

Anyone know what this bloke actually does in his day to day job? For ?1k a day I hope it is more than sitting in his office

So all the talk of the signings/sale of players over the last 2 years reducing the wage bill after SA was bullshit?

 

remember these are old figures and would still include some of the the high earners who have since been moved on

He used to run Prestons of Bolton but when they went bang in 2005 he needed a job so........

Interesting that the hotel brings in more than the fans now!

I'm no expert in this at all

 

But a few things jump out

 

The Hotel is a great asset, ?8m a year for a club our size is VERY handy money and certainly would be if we ever went down and somehow shed the debt

 

The loans from Davies are incredible - ?4.5m@10%, he charged ?623k arrangement fee? That's a bit steep to say the least, fucking hell

 

The debt needs managing down - again this season we've spent a good few million, I'd have rather seen ?2m off the debt than Robinson signing, for one

I'm no expert in this at all

 

But a few things jump out

 

The Hotel is a great asset, ?8m a year for a club our size is VERY handy money and certainly would be if we ever went down and somehow shed the debt

 

The loans from Davies are incredible - ?4.5m@10%, he charged ?623k arrangement fee? That's a bit steep to say the least, fucking hell

 

The debt needs managing down - again this season we've spent a good few million, I'd have rather seen ?2m off the debt than Robinson signing, for one

 

why, is it profitable?

I'm no expert in this at all

 

But a few things jump out

 

The Hotel is a great asset, ?8m a year for a club our size is VERY handy money and certainly would be if we ever went down and somehow shed the debt

 

The loans from Davies are incredible - ?4.5m@10%, he charged ?623k arrangement fee? That's a bit steep to say the least, fucking hell

 

The debt needs managing down - again this season we've spent a good few million, I'd have rather seen ?2m off the debt than Robinson signing, for one

Not if it cost 9m to run, though

My cousin is a Citeh ST holder.

 

He says that, whilst it is great seeing the class of players coming into the club now, if the arabs pull the plug it will just leave them with an unmanageble squad/wage bill in relation to revenues.

 

They will literally have to off-load almost all of their squad and start again. There is a genuine belief among a lot of fans that it will be the end of the club as they know it and they'll be lucky to be playing in the lower leagues

My cousin is a Citeh ST holder.

 

He says that, whilst it is great seeing the class of players coming into the club now, if the arabs pull the plug it will just leave them with an unmanageble squad/wage bill in relation to revenues.

 

They will literally have to off-load almost all of their squad and start again. There is a genuine belief among a lot of fans that it will be the end of the club as they know it and they'll be lucky to be playing in the lower leagues

 

So there is some good news then.

Be interesting to see the figures for now rather than from over 12 months ago, I would have expected the wage bill to be down, as well as the cuts on the playing side I would think we have a smaller backroom staff than BSA built up.

 

According to the stats, out attendances were up last season, maybe due to giving larger away allocations, but still the figures were higher. The lack of cup games last season may have had an impact but then how much do we really make from a Cup tie which only attracts 8000 people.

 

A debt of around ?50 million is probably a lot less than most, but there are a few saleable assets on the playing staff, and obviously the hotel has a market value, so our finances aren't as bad as some. But if we did go down, I think it may be a while before we returned. This I guess is why finishing outside the bottom 3 is our aim at the beginning of each season. Playing attractive football comes a distant second. On this basis the positions that Megson has recruited for does make sense. This aim is rapidly becoming the aim for more than half the clubs in the Premier League.

 

We copuld have stuck with Sammy Lee and tried to play more open entertaining football, but we would now be watching an attempt at entertaining football against the likes of Scunthorpe, Doncaster and Blackpool.

My cousin is a Citeh ST holder.

 

He says that, whilst it is great seeing the class of players coming into the club now, if the arabs pull the plug it will just leave them with an unmanageble squad/wage bill in relation to revenues.

 

They will literally have to off-load almost all of their squad and start again. There is a genuine belief among a lot of fans that it will be the end of the club as they know it and they'll be lucky to be playing in the lower leagues

The same goes for Chelsea, Liverpool and Utd

The same goes for Chelsea, Liverpool and Utd

No mate because these clubs could always attract the high rollers.

City got lucky it's the minions that are struggling not just us,but theres always some dodgy bastards out there who wanna spunk their money on a football club.

I for one would'nt want any of them running my football club,Gartside is a businessman he has run the club well in my eyes,ok he made the mistake of employing Megson imo,but he runs a good ship.I would hate us to sell out to a sugar daddy because to me that would be the end of B.W.F.C as we know it.

why, is it profitable?

 

Dunno what you mean

 

I was just thinking if I had serious money and could stick it somewhere at 10% interest plus a 10-15% bonus up front, I'd jump at the chance

 

As would any investors

sorry i fcuked up the post

 

my point was intended to be around the hotel thing

 

its alright knowing the turnover but we don't know if it runs at a loss

 

tis all

as for the davies loan terms

 

i think you'd struggle to get many folk to invest in bwfc

 

lets be honest, its ok him lending it at 10%

 

theres no guarantee he ever gets it back