I wish people would see through PG's self-serving bullshit about Saint Eddie. He's taken millions out in interest payments. If he's been such a great bank-roller of BWFC how are we 160 million in debt?! No other comparable club has debts anything like ours. We've just had 11 consecutive years in the Prem with ever rising TV funds, finished top 8 in 4 consecutive seasons and actually spent fuck all compared with virtually every other club when you think of the money we've made - on Anelka, Nolan, Cahill, Al Habsi to name just a few in the last 5 years or so. Ok, we haven't got a pot to piss in now as parachute and TV money dries up, but this debt had been run up by 2012 - having been consistently around 35 million until the early 2000s. So where's it gone?

Did every away that season.

 

Grim.

how old was you then? 10

I wish people would see through PG's self-serving bullshit about Saint Eddie. He's taken millions out in interest payments. If he's been such a great bank-roller of BWFC how are we 160 million in debt?! No other comparable club has debts anything like ours. We've just had 11 consecutive years in the Prem with ever rising TV funds, finished top 8 in 4 consecutive seasons and actually spent fuck all compared with virtually every other club when you think of the money we've made - on Anelka, Nolan, Cahill, Al Habsi to name just a few in the last 5 years or so. Ok, we haven't got a pot to piss in now as parachute and TV money dries up, but this debt had been run up by 2012 - having been consistently around 35 million until the early 2000s. So where's it gone?

Do I really need to answer that question. Again? It's been discussed on here ad infinitum. Like I said, buy the club and do as you see fit.

I wish people would see through PG's self-serving bullshit about Saint Eddie. He's taken millions out in interest payments. If he's been such a great bank-roller of BWFC how are we 160 million in debt?! No other comparable club has debts anything like ours. We've just had 11 consecutive years in the Prem with ever rising TV funds, finished top 8 in 4 consecutive seasons and actually spent fuck all compared with virtually every other club when you think of the money we've made - on Anelka, Nolan, Cahill, Al Habsi to name just a few in the last 5 years or so. Ok, we haven't got a pot to piss in now as parachute and TV money dries up, but this debt had been run up by 2012 - having been consistently around 35 million until the early 2000s. So where's it gone?

 

There's one thing having a go at the manager cause he's shit, the players because they're under-performing, the chairman because he's picked the managers but trying to justify having a go at Eddie Davies is about as wrong as you can possibly go IMO.

I'd love to hear your answer. I've never heard one yet that makes any sense. That conjures up another £130 million of debt in the middle of our most successful period since the 1950s...debt the like of which, I repeat, no other club seems to have racked up (unless deliberately, like City or Chelsea, with their dodgy billions to spend). Please, do tell.

I might be in a minority, but I refuse to believe that we really have debts of £160m.

 

On paper, yes, but in reality, no.

Why is it wrong Eddie? Just because that fine upstanding character PG keeps on telling us he's a living generous saint? The facts simply don't back it up.

davidjack, its been done to death this. Its gone on wages for mediocre players, its gone because we never sell anyone for the going rate (your namesake excepted but that was a while ago), its gone because we make feck all revenue other than tv money, its not gone  because ED has paid himself a fortune in interest, the books show that he owes himself the money - but he's no prospect of getting either his initial investment or the interest he is 'owed' back, its not real, its  just numbers in a spreadsheet.

Edited September 21, 201411 yr by RoadRunnerFan

I might be in a minority, but I refuse to believe that we really have debts of £160m.

 

On paper, yes, but in reality, no.

I think you'd have to be a fucking idiot to believe we owe ED anywhere near £160m in reality.

It's all smoke and mirrors. 

Why is it wrong Eddie? Just because that fine upstanding character PG keeps on telling us he's a living generous saint? The facts simply don't back it up.

 

 

why dont you do a piece on it?

 

it aint going on here as we can't afford the legals to defend libellous rants but i'll happily link to it

I'd love to hear your answer. I've never heard one yet that makes any sense. That conjures up another £130 million of debt in the middle of our most successful period since the 1950s...debt the like of which, I repeat, no other club seems to have racked up (unless deliberately, like City or Chelsea, with their dodgy billions to spend). Please, do tell.

 

Why are you so bothered about this 'debt'?

 

Almost the whole amount is money that is owed to our owner, and therefore is actually equity.

 

It has no bearing whatsoever on how much we can spend now, the whole reason we are making all these cuts is solely to comply with FFP and therefore bring our losses down to just £8m a year, which when you have recently been relegated from the premiership and still have a lot of the expense that goes with being in the premiership is not easy to do.

 

'He's taken millions out in interest payments' - Maybe in the early days but for the last few years he has lent us fortunes, at 0% interest, of which he is unlikely to ever get back.

 

'If he's such a great bankroller why are we £160m in debt' - Because he has been such a good bankroller, we have spent above our means for a number of years which has brought us such success as you mention, Europe and top 8 finishes, we didn't generate the revenue to cover the cost of achieving this, he covered our losses and continuously loaned us the money. It was an unsustainable method and unless we went on to sell players for big profits then we would eventually have to cut our costs, due to getting relegated and FFP this is where we are at now.

 

'Spent fuck all compared to the money we've made' - I don't even know where to start. We made about a £2m profit on Cahill, £7m on Anelka, £4m on Nolan and £2m on Al-habsi so lets say £15m. We spunked £8.5m on Elmander alone and sold him for fuck all, he gave Megson £40m to spend, think about all the great players that we have seen over the period that ED has owned us, do you think they were playing for free?

 

Eddie Davies is nothing short of a saint and is the last person that any grief should be aimed at. You clearly don't understand the finances so just stick to worrying about how shit we are on the pitch

Very well put Eddie!

Eddie, making up figures and repeating lines PG has fed you isn't helping. Where did you pluck £40m from for Megson? Net spend? Elmander was paid for by the Anelka profit, pretty much. Al Habsi we got £4m, not £2.5m for. We paid big money (£4.5m) for Knight and Muamba (£5m - tho presumably we got some insurance compensation given what happened to the poor guy - tho knowing those clowns we probably fucked that clause in the contract up). Matt Taylor we got most of our money back on. We lost £2m or £3m on Steinsson probably. I'm still not seeing £40m tho Eddie.

 

So all that money TV brought in and our elevated league positions, that actually cost us tens of millions did it? Really? Funny that tin pot little old Wigan seem to have survived 8 less successful seasons than us in the richest league in the world without bankrupting themselves. Don't you think?

 

I'm sorry if this offends some people, but the great Emperor Eddie is naked. Either that or he's the shittest benefactor in history.

Edited September 21, 201411 yr by davidjack

Very well put Eddie!

Yes, well done, mr Davies.

Yes, well done, mr Davies.

 

I wish, Mr Freedman would have been out of a job a while ago if that was the case though.

 

DavidJack, if you honestly believe that we have recouped anywhere even close to what we have spent on transfers/wages/agent fees over the last 6,7,8 years then I can't be bothered to carry on the discussion. You've already pointed out that the Anelka profit went on Elmander - That went well. Now we're down to scratching around for profits on Nolan, Al Habsi and Cahill and a bit of money for Taylor, there's probably a couple more but nothing whatsoever of note.

 

Well N'gog and Sordell take up £9m, Spearing makes it £11m, how much did we pay for Wheater, Mills, M. Davies, Lee, Marcos Alonso, Eagles and Mears? Then there's shit that you forget about like paying over £1m for Shittu and plenty of others in the same band. Then you've got all the frees on big wages, Martin Petrov taking home a reported £40k a week. It isn't even close to our poxy few profits that we made.

 

As for Wigan they have bought well and sold incredibly well. They've made huge profits on what must be close to 10 players now over the last 5 or so years, they also haven't paid the wages to have the pleasure of seeing the likes of Youri, Okocha, Campo, Stelios, Anelka, Diouf, Hierro, Speed etc or sustain a place in the top 8 best clubs in the country for 4 years running either, we've had all that courtesy of the "shittest benefactor in history".

the site i linked to the other day (for all its dodgy bits, its the best we have - has us 7 million down on transfers since allardyce left

 

almost exactly the same as wigan

 

 

so, it isnt actually the transfers that have screwed us over

 

its been the wages that the tight bastard has funded

in fact

 

another internet lunatic who loves to knock all things bwfc published this about alonso

 

 

The truth is a little more complex than that, and can be revealed, thanks to a source once close to the player.   Alonso was on take home pay of  £27,000 a week at Bolton, after tax, national insurance and other deductions.  The club were happy to discuss an extension based on those figures.

However, Alonso’s father, who also acts as his agent, received what was thought to be a better offer from Italy, and the decision was made to move there.   Things were not as they first seemed. Thanks to a mistranslation in the negotiations, the contract was worth a good deal less than first thought.

Alonso and his father returned to Bolton in June, hoping to revive the earlier deal.  They were told in no uncertain terms that it was no longer on the table, so the transfer to Fiorentina went ahead.

 

 

now, i suspect this to be bollocks and we were never in a position to offer him 2.5 million a year but id not be shocked if he had been paid it by tight eddie, fcuked up phil and coyle

Them's some wages Casino - £130m of em. I repeat, how is it that no other club outside the top 5 or 6 was as successful as us in that period from 2003-2008 and yet only we managed to rack up debts in triple figure millions? At a time when TV money kept on rising. Money which paid for the stars you quoted, not EG. All of whom, bar Anelka, we didnt pay a fee for thanks to Allardyce's acumen. Were none of these other clubs paying wages then? Or buying players? That must be it. ED and PG must be absolutely pissing their sides at the gullibility of some on here. One from his tax haven. And the other from who knows where...he's certainly not for popping his head above the parapet these days is he?

There's some fee inflation going on there Casino too. Ngog and Sordell were just over £7m the pair (I'm not claiming that was a bargain, but £2m less than you quoted) and Spearing was reportedly £1m...tho given a lot of our 'dealings' are undisclosed it makes it hard for us or hmrc to know. But then if you live in Douglas that's just how you tend to like it. Allegedly.

There's some fee inflation going on there Casino too. Ngog and Sordell were just over £7m the pair (I'm not claiming that was a bargain, but £2m less than you quoted) and Spearing was reportedly £1m...tho given a lot of our 'dealings' are undisclosed it makes it hard for us or hmrc to know. But then if you live in Douglas that's just how you tend to like it. Allegedly.

 

i havent quoted any figures

 

it wasnt me

 

 

i do believe allardyce had the highest net (transfer) spend of any manager in our history, though

 

so next time its suggested he wasnt backed, just remember this, kids

And questioning the received wisdom (especially when that wisdom is out of the mouth of PG) is not 'knocking all things BWFC', it's called using your critical faculties. Try it. You might like it. You might even see beyond the end of your nose for long enough to finally recognise what every other person on the planet has sussed: Dougie Freedman is not the messiah.

Apologies on the figures then. That was for Eddie.

Another thing Eddie, so Wigan didn't undersell their assets and we did. That just happened did it? Or maybe it was the fans' fault? Or maybe, and I'm going out on a limb a bit here, the guys who were taking millions out in interest payments or in salaries and bonuses in PG's case during those years fucked up and didn't do their jobs properly? Like not getting a reported £12m or £13m for Cahill, an England international, when they had the chance? At a time when Lescott had gone for over £20m. I'd call that financial mismanagement on a grand scale. But those interest payments and bonuses kept on rolling in for a good few more years didn't they? And now the party's over. But PG doesn't appear to have cut his own cloth accordingly. Far better to get the fans to make up the shortfall. Another quid on bus fares here, 50p on pints there...the dumb fuckers'll keep on taking it. But will they? For how long?

Very rare I missed a match in them days, absolutely loved it I did, the days out not the football obviously.