Just got hold of the accounts for 2009

 

Loss of ?13.2m compared to loss of ?8.1m for 2008

 

Group Turnover ?59.3m slightly up

 

Football Operations Turnover ?51.3m (up 3%)

 

Gate receipts down ?5.2m

 

Corporate hospitality ?1.8m down 22%

 

Attendances 22,845 (increase of 8%)

 

?49 season ticket for children increase ST kids numbers by 53%

 

Average ticket price ?11.29 (?13.63 last year)

 

Players bought ?5,079,067 players sold ?9,648,730

 

 

Of note, and I'm not an accountant

 

"Going concern

 

In ensuring that the group has sufficient liquid resources to meet its liabilities as they fall due, the directors have reviewed in detail the business's cash flow projections....they show a shortfall in the current level of facilities. However, the directors are currently in discussions with lenders regarding the potential securitisation of future guaranteed broadcast revenues"

 

Duckworth pay ?483,000 (up from ?376,000)

 

More to follow

A lot of words. A pity that most of it unsubstantiated waffle.

 

And you still haven?t explained your previous ludicrous claim that Eddie Davies would be ?wiped out?

 

Moonshift Investments is based in Bermuda (as is Strix) where the standards of disclosure are much lower. You have absolutely no idea what arrangements are in place, or what Davies?s stake in the company is. Why pretend that you have?

 

I?ve also read the accounts, and they don?t come anywhere close to unravelling the finance. Nor would I expect them to. As your little friend on the Bolton News forum( ) admits. It?s guesswork.

 

While Eddie Davies has undoubtedly been good for Bolton, he?s also been cute in the way that he?s siphoned off money from Burnden Leisure. He?s not some benefactor in the mould of Mohammed Al Fayed who has loaned Fulham millions at zero interest.

 

The chances that Davies has exposed himself to level of risk you imagine is slim. That?s why he?s a multi-millionaire and you have a little leaflet distribution business in Slough.

 

Wtf is your problem?

 

If you don't want to believe me then fine.

 

This is what today's Guardian says - perhaps you won't believe them either.

 

"Bolton's ability to operate with thumping losses and meaty borrowings is due to the backing of the club's owner, one of the lowest profile among the roster of rich men who have over recent years folded Premier League football clubs into their portfolios. Edwin Davies, who made his fortune manufacturing thermostatic controls for kettles, lives in the Isle of Man, one of the less sun-kissed of the British protectorate tax havens.

 

Davies is described by Bolton as a "benefactor" and he did put solid money into the club when he bought up his 94.5% stake in 2004. These accounts show that he has made his latest contribution in huge loans which charge a rate of interest handy for him in current economic conditions. Davies's company, Moonshift Investments, loaned Wanderers ?23m last year, at 10% annual interest, so the football club paid Moonshift ?2m "in respect of arrangement and guarantee fees and interest".

 

Gartside, in the accounts, said: "I would like to acknowledge the special contribution of our owner Eddie Davies, for his ongoing support in [overhauling Wanderers' playing squad] and other investments in the club."

 

That tribute is heartfelt, because Gartside knows Bolton would most likely be nowhere near the Premier League, and possibly in serious financial difficulty, without Davies. Yet the owner's support, like membership of the World's Greatest League, comes at a cost for the Trotters".

 

http://www.guardian.co.uk/sport/david-conn...s-premierleague

Anyone know if the dosh for Anelka and Nolan was up front or staggered payments ?

 

Maybe we have some more dosh coming into the coffers

 

I'm led to believe we received both lots up front.

 

1. Because Chelsea could afford to.

2. Because Newcastle might be not able to stick to a repayment plan, should they not come straight back up.

Exactly, so fuck the premier league, and fuck the horse that murdoch rode in on.

 

ADMINISTRATION, might be a big word, but it means fuck all at the end of the day.

aye, but there has to be summat to aim for. If we go tits up and end up back in the equivalent of the owd 4th then fine, maybe we can have a laugh and see some new grounds and build back up again. But it still relies on progress; I'd still go if we were in the lowest tier and in many ways it would be a giggle. BUT if we were actually scared of promotion or progress then fuck that - fans of Bradford, Soton, Charlton and all the others who have plummeted deserve the right to hope for progress. As it stands now we'd be praying Reading's penalty went in and promotion to the PL and financial ruin was avoided. How the hell can that be right?

There are three key things fucking the whole PL concept up - the players' salaries, the players' salaries and, finally, the players' salaries.

four things. The players salaries has a big bearing on the PL too.

so to sumarise the fact BWFC are in so much debt can be laid squarely at the feet of Jimmy Hill?

so to sumarise the fact BWFC are in so much debt can be laid squarely at the feet of Jimmy Hill?

 

I'd love to blame him for somat or other as I always hated the stupid git with the man in the moon chin!! However it would have happened sooner of later. I dont think there is any way out of it for clubs like Bolton. If the Sky money starts to dry up then the big 4 plus perhaps Citeh, spurs and villa will fuck off to their Euro super league to maintain income, leaving a premier league that will get little media attention and very little money.

 

Sad to say that the 90's and early 2000's were as good its gonna get for bwfc unless by some miracle we get to another cup final by getting kind draws and actually being serious about beating the lesser opposition when we do.

Wtf is your problem?

 

If you don't want to believe me then fine.

 

This is what today's Guardian says - perhaps you won't believe them either.

 

"Bolton's ability to operate with thumping losses and meaty borrowings is due to the backing of the club's owner, one of the lowest profile among the roster of rich men who have over recent years folded Premier League football clubs into their portfolios. Edwin Davies, who made his fortune manufacturing thermostatic controls for kettles, lives in the Isle of Man, one of the less sun-kissed of the British protectorate tax havens.

 

Davies is described by Bolton as a "benefactor" and he did put solid money into the club when he bought up his 94.5% stake in 2004. These accounts show that he has made his latest contribution in huge loans which charge a rate of interest handy for him in current economic conditions. Davies's company, Moonshift Investments, loaned Wanderers ?23m last year, at 10% annual interest, so the football club paid Moonshift ?2m "in respect of arrangement and guarantee fees and interest".

 

Gartside, in the accounts, said: "I would like to acknowledge the special contribution of our owner Eddie Davies, for his ongoing support in [overhauling Wanderers' playing squad] and other investments in the club."

 

That tribute is heartfelt, because Gartside knows Bolton would most likely be nowhere near the Premier League, and possibly in serious financial difficulty, without Davies. Yet the owner's support, like membership of the World's Greatest League, comes at a cost for the Trotters".

 

http://www.guardian.co.uk/sport/david-conn...s-premierleague

 

Rare to find something I agree with in the Guardian!

Wtf is your problem?

 

If you don't want to believe me then fine.

 

This is what today's Guardian says - perhaps you won't believe them either.

 

"Bolton's ability to operate with thumping losses and meaty borrowings is due to the backing of the club's owner, one of the lowest profile among the roster of rich men who have over recent years folded Premier League football clubs into their portfolios. Edwin Davies, who made his fortune manufacturing thermostatic controls for kettles, lives in the Isle of Man, one of the less sun-kissed of the British protectorate tax havens.

 

Davies is described by Bolton as a "benefactor" and he did put solid money into the club when he bought up his 94.5% stake in 2004. These accounts show that he has made his latest contribution in huge loans which charge a rate of interest handy for him in current economic conditions. Davies's company, Moonshift Investments, loaned Wanderers ?23m last year, at 10% annual interest, so the football club paid Moonshift ?2m "in respect of arrangement and guarantee fees and interest".

 

Gartside, in the accounts, said: "I would like to acknowledge the special contribution of our owner Eddie Davies, for his ongoing support in [overhauling Wanderers' playing squad] and other investments in the club."

 

That tribute is heartfelt, because Gartside knows Bolton would most likely be nowhere near the Premier League, and possibly in serious financial difficulty, without Davies. Yet the owner's support, like membership of the World's Greatest League, comes at a cost for the Trotters".

 

http://www.guardian.co.uk/sport/david-conn...s-premierleague

I don't know why you even bothered posting that. There's nothing in there that hasn't already been mentioned. Fuck knows why you think it backs up your assertion that Eddie Davies will be destitute if Burnden Leisure goes to the wall.

 

Bottom line, I'd take Eddie Davies's experience of dealing with multi-million pound finance over yours any day.

I don't know why you even bothered posting that. There's nothing in there that hasn't already been mentioned. Fuck knows why you think it backs up your assertion that Eddie Davies will be destitute if Burnden Leisure goes to the wall.

 

Bottom line, I'd take Eddie Davies's experience of dealing with multi-million pound finance over yours any day.

 

So you're happy with how much he pays PG and AD?

I don't know why you even bothered posting that. There's nothing in there that hasn't already been mentioned. Fuck knows why you think it backs up your assertion that Eddie Davies will be destitute if Burnden Leisure goes to the wall.

 

Bottom line, I'd take Eddie Davies's experience of dealing with multi-million pound finance over yours any day.

 

If you can manage to put your personal insults of me to one side for a moment and concentrate on the facts you will see that Bolton Wanderers (Burnden Leisure) is a multimillion pound business that needs the financial backing of Eddie Davies to continue trading.

 

Davies own company Moonshift Investments has loaned Bolton ?23 million, and Davies is sole guarantor for the rest of the loans which total to ?64 million.

 

If Bolton went into Administration he would be responsible for repaying this 64 million pounds worth of loans back - a big chunk of which would be to himself via his own company.

 

His personal wealth was estimated by The Times to be ?65 million.

 

For the record Leeds United went into Administration with debts of only ?35 million (Ken Bates who owned the club was/is a millionaire).

 

As for other multimillionaires running football clubs - Mike Ashley has lost an estimated ?250 million (a quarter of a billion pounds!) of his personal wealth at Newcastle, Gaydamak at Portsmouth could no longer afford to pay the wages and Billionaire Gudmundson as gone bankrupt at West Ham!

Edited November 7, 200916 yr by Sluffy

Let's hope we've got Eddie sufficiently insured

 

No doubt, Eddie has his own insurance.

 

For the right money, i am sure there is an insurance company that is prepared to insure Eddie Davies against his losses should the worse case scenario occur over a period of time.

 

On another note, i havent read through all 185 responses so this may have already been covered, but i read something at the start of the week that said we were one of 2 Premier League clubs that had increased gates last season. Well those figures tend to suggest otherwise?

No doubt, Eddie has his own insurance.

 

For the right money, i am sure there is an insurance company that is prepared to insure Eddie Davies against his losses should the worse case scenario occur over a period of time.

 

On another note, i havent read through all 185 responses so this may have already been covered, but i read something at the start of the week that said we were one of 2 Premier League clubs that had increased gates last season. Well those figures tend to suggest otherwise?

How is that?

Linking this thread to a very old one about Gartside's idea of a two league Premiership, I ahve just read an article that explains what Big Phil has been doing of late to justify his increase in pay:

 

Bolton chairman Phil Gartside has been working on the proposals for a two-tier league for more than a year

 

 

Top man ::

aye, but there has to be summat to aim for. If we go tits up and end up back in the equivalent of the owd 4th then fine, maybe we can have a laugh and see some new grounds and build back up again. But it still relies on progress; I'd still go if we were in the lowest tier and in many ways it would be a giggle. BUT if we were actually scared of promotion or progress then fuck that - fans of Bradford, Soton, Charlton and all the others who have plummeted deserve the right to hope for progress. As it stands now we'd be praying Reading's penalty went in and promotion to the PL and financial ruin was avoided. How the hell can that be right?

There are three key things fucking the whole PL concept up - the players' salaries, the players' salaries and, finally, the players' salaries.

 

Couldn't agree more. God knows how much money has been wasted on Russian hookers, chrome supercars and Tony and Guy haircuts. The amount of money that is in football should mean the clubs are able to be run as viable businesses, the area the clubs are in benefit (clubs putting money into infrastucture in the town etc) and there would still be enough to pay the players higher wages than most of us could ever dream of earning. But the fact is those who control things will not change it because they are busy lining their own pockets and when it all falls apart they'll say "how were we supposed to know?" - sounds familiar.

Is this the right place to discuss the planned two-tier Prem thing? Or shall I vent my anger at its absolute stupidity (not least with the Glasgow teams coming in) on a seaprate thread?

Is this the right place to discuss the planned two-tier Prem thing? Or shall I vent my anger at its absolute stupidity (not least with the Glasgow teams coming in) on a seaprate thread?

 

looking past the headlines and the celtic (that with a k sound not an s)teams coming in.

 

It just seems he wants prem TV money split more equally through 38/40 teams rather than the massive gap between the big 4 and the rest getting bigger

 

Relegation and promotion will still happen so no change there.

 

it doesn't look much different (besides branding) to how things are done now

Heard a bit on Radio 5 at lunchtime, talking about franchises and every Premier League club having to meet certain criteria.

 

As one caller said, franchises normally takes account of location compared to others - in which case we will be fcuked.