January 23, 201412 yr “We’re not a selling club, we are a trading club.” - Phil Gartside By now, fans of Bolton Wanderers will have had the entirely sobering experience of reading about the club’s annual financial statement. “How did we rack up such a massive debt” is the question usually asked, although it might be slightly longer due to a couple of swear words in there. The latest yearly deficit is a staggering £50.7 million. Sadly, it isn’t a one off. Figures since 2007, when the loss making sequence began are listed below. (£ million) Year Loss Debt 2013 50.7 163.8 2012 22.1 136.5 2011 26.1 110.6 2010 35.4 93.1 2009 13.2 64.0 2008 8.1 53.5 2007 2.1 43.0 A satisfactory explanation as to why such losses have been incurred has never been forthcoming from the Reebok, although a look over the accounts from the past few years does yield interesting information. One obvious factor is wages. Between 2009 and 2010 there was a whopping £14 million increase and one of nearly £9 million between 2007 and 2008. At the time Gary Megson was being credited (mainly by Gary Megson) with reducing expenditure in that respect. The claim that these sums were justified by the increase in TV revenue doesn’t wash either. By 2010 wage payments were outstripping Sky’s contribution by £16.5 million. Another factor is player movements. Bolton may be a trading club, but they’re a bit rubbish at it. Granted, profits have been made on some sales. Kevin Nolan £4 million; Ali Al Habsi £4 million; Danny Ward £1 million (including add ons); Chris Basham £500,000; Gary Cahill £2 million, but given his status and transfer inflation during during a four year stint at the Reebok, that represents a significant failure. He was though, the only player signed by Megson to be sold for a surplus. The most successful sell-on was Nicolas Anelka, who was acquired for £8 million and left for £15 million, with £2.6 million of that returned to club owner Eddie Davies as a ‘player success fee.’ The list of players on who losses were or will be made is longer. Some of the individuals below are still at the club. In that case, a projected leaving value of zero has been assumed. Some might see that as overly pessimistic, but do you think that Chris Eagles or Zat Knight will attract transfer fees when they can be had for free at the end of the season? That’ll be a no, then. £million Player Signed by Cost Sold For Loss Johann Elmander Gary Megson 8.2 0 8.2 Gretar Steinsson Gary Megson 3.5 0 3.5 Danny Shittu Gary Megson 2.2 0 2.2 Matt Taylor Gary Megson 3.5 2.1 1.4 Zat Knight Gary Megson 4.5 0 4.5 Mark Connolly Gary Megson 1 0 1 Sam Ricketts Gary Megson 2.2 0 2.2 Chris Eagles and Tyrone Mears Owen Coyle 3 0 3 Marvin Sordell Owen Coyle 3.5 0 3.5 David N’Gog Owen Coyle 4 0 4 Marcos Alonso Owen Coyle 2.3 0 2.3 El Hadji Diouf Sam Allardyce 4.5 2.2 2.3 Heidar Helguson (£2.2 million with add ins) Sammy Lee 1 0 1 Total Loss 39.1 Then there are the signings (mainly loans) that didn’t incur a transfer fee, but commanded big wages. Jack Wilshere and Daniel Sturridge have been judged as successful. Others can’t be, such as Sébastien Puygrenier, Ebi Smolarek, Ariza Makukula. Vladimír Weiss, Dedryck Boyata, Gaël Kakuta, Christian Wilhelmsson, Ryo Miyaichi, Tuncay Sanli, Benik Afobe and Riga Mustapha. Wilhelmsson was paid £1.75 million for a season in which he barely set foot on the pitch whilst Riga reportedly pocketed £20,000 a week for over a season. It is perhaps the signing of Danny Shittu that best sums up the cack handed, amateur, incompetent way that Bolton Wanderers has been run over the past half dozen years. Scout Les Padfield, worked for Gary Megson when he was manager at West Brom, then in the second tier of English football. Padfield recommended Shittu to the club after seeing him play for Charlton reserves, reasoning that he would be useful at that level. Megson didn’t agree. “I went to see your lad Shittu, last night,” said the Ginger One. “And?” “You must be having a laugh. He had a mare. Looks like a real liability.”* A few years later, Megson signed Shittu – for Premier League Bolton. His first judgement was correct. The big Nigerian played in ten league games before being released from his contract two years later. *Excerpt from Scouting for Moyes by Les Padfield, published by Sportsbooks. Bolton fans really ought to read chapter 43.
January 23, 201412 yr I'm sorry, but that really is anything but interesting. And it's too difficult to read in that format as well
January 23, 201412 yr i think its been on here before more ramblings of the postman you missed out the word "inane"
January 23, 201412 yr Good read. Not on vs phone. Basically shows how we lost loads on players that were not utilised.
January 23, 201412 yr See a lot of it is utter bollocks. Not so much fact wise but in the push on profit on sales as a focal point. The club got the grand total of cock all for Okocha, Campo, Djorkaeff and stelios etc but were they good signings. Making profit on player sales is a nice bonus but shouldnt be the focus.
January 23, 201412 yr See a lot of it is utter bollocks. Not so much fact wise but in the push on profit on sales as a focal point. The club got the grand total of cock all for Okocha, Campo, Djorkaeff and stelios etc but were they good signings. Making profit on player sales is a nice bonus but shouldnt be the focus. Aye and in those players cases we paid nowt in the first place (did campo have a transfer fee?) And all were let go at the right time and as players don't play for nowt, even without knowing their wages, I'd say all four were value for money
January 23, 201412 yr See a lot of it is utter bollocks. Not so much fact wise but in the push on profit on sales as a focal point. The club got the grand total of cock all for Okocha, Campo, Djorkaeff and stelios etc but were they good signings. Making profit on player sales is a nice bonus but shouldnt be the focus. You could say the move to buying younger players with possible potential to improve and increase there value has been a disaster and that we should have been purchasing proven quality even if they were early 30s may have kept us in the premier league longer, I certainly enjoyed watching the likes of JJ, stelios,Youri,Campo and Speed a great period in our history.
January 23, 201412 yr allardyce said that partuicular pond was dry He did say that but maybe he was not looking/trying hard enough towards the end. Edited January 23, 201412 yr by Mounts Kipper
January 23, 201412 yr He did say that but maybe he was not looking/trying hard enough towards the end. Once upon a time clubs like Inter had massive player lists even though they only fielded one team. Nowadays there is a defined limit (apart from youth players) who can play Champions League. That was the final death knell for over-sized squads, so BSA's comment on this is correct. And the article starting this thread takes no account of amortization. If a player is bought for £4M on a 4 year contract and sold after 2 years for £3M, he is not sold "for a loss" - Bosman dictates that players values do fall through the term of their contract.
January 23, 201412 yr You could say the move to buying younger players with possible potential to improve and increase there value has been a disaster and that we should have been purchasing proven quality even if they were early 30s may have kept us in the premier league longer, I certainly enjoyed watching the likes of JJ, stelios,Youri,Campo and Speed a great period in our history. Its a fact that so many of our kids were spoiled watching class players that they are so disappointed with what they get to see at the reebok now. For us old gits it was just a bit of a golden era after so many years of mediocre shite...........normal service now resumed
January 23, 201412 yr Once upon a time clubs like Inter had massive player lists even though they only fielded one team. Nowadays there is a defined limit (apart from youth players) who can play Champions League. That was the final death knell for over-sized squads, so BSA's comment on this is correct. And the article starting this thread takes no account of amortization. If a player is bought for £4M on a 4 year contract and sold after 2 years for £3M, he is not sold "for a loss" - Bosman dictates that players values do fall through the term of their contract. So when for example Wheaters contract was up at the end of last season his value was zero on the balance sheet as soon as he signed a new contract did his value go back on the balance sheet as an asset at the 2 million we paid for him? That's how I think it works but does anyone know for sure?
January 23, 201412 yr i dunno, but you'd think he would have a value, but 2 million? you've got to be able to justify your valuations howver didn't somebody say all the players have been written down to zero in this set of accounts i suppose a couple of 7-1 defeats gets the auditors off your back
January 23, 201412 yr i dunno, but you'd think he would have a value, but 2 million? you've got to be able to justify your valuations howver didn't somebody say all the players have been written down to zero in this set of accounts i suppose a couple of 7-1 defeats gets the auditors off your back Not sure about zero, but they were massively reduced.
January 23, 201412 yr Not sure about zero, but they were massively reduced. I think I heard the players were valued at 7 million only heard that second hand though.
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