Gartside

[Casino]

http://swissramble.blogspot.co.uk/2010/11/why-bolton-have-so-much-debt.html

 

that takes us to 2010

 

and the wage bill continued to grow

[Guest pansyroadwhite]

i have also not heard it

 

but there seem to be quite a few wanting a change of owner cos eddie wont spend anything

 

and its a very small leap from garty out to eddie out

 

we've even got loons on here critical of eddie davies for the debt we're in, so aye, i reckon theres quite a few eddie outers

 

and dont forget the criticism by sharehilders of him 'stealing our club' and then taking it private, ie 'whats he up to'

 

 

nobody actually has the balls to say eddie out on here, but theres a few hiding their dirty little secret

I hope you are wrong because if you arent we have some pretty daft folkout there.

[davidjack]

That's my point, Casino. We had those assets between 1997 and 2006 when the debt barely moved...and we'd suffered relegation for 3 years early in that time...and started paying big bucks to Okocha and Youri and co from 2002-06...and still it didn't move. Then, whoosh, a hundred and thirty million...?!

[Casino]

 

When Gartside recently raised the possibility of a wages cap in the Premier League, he exclaimed, “We keep upping the income and we keep losing money. It’s ridiculous.” Well, he’s half right, if you examine how Bolton moved from a £4 million profit in 2005 to a £35 million loss in 2010. Yes, there has been some revenue growth, but not much – and almost all of it has come from television. Gate receipts have actually fallen in that period. On the other hand, you can see why Gartside is concerned about wages, as these have grown by £21 million, which is almost double the gain from TV. On top of that, player amortisation has risen £14 million and other costs £10 million.

[Gonk]

You're wasting your time Cas, If he hasn't got it by now it ain't gonna happen

[Casino]

"If we didn’t have a football team, we’d be quite a successful business." Phil Gartside, Chairman of Bolton Wanderers FOOTBALL CLUB.

Fucking priceless.

 

not everybody has to be humourless

Edited October 8, 2014 by Casino

[Casino]

You're wasting your time Cas, If he hasn't got it by now it ain't gonna happen

 

 

i actually think hes got it

 

he just doesn't think we should have ke[pt chucking money at the problem

 

ie increasing the wage bill

 

hes probably reet

 

i wish we'd had his foresight

 

i bet eddie does

 

and garty

 

i'm sure as fcuk not looking to hang them for chasing the dream

[davidjack]

Those wages, as I keep saying, were still below income tho (even tho for a period the rate at which they grew may have been sharper than the rate at which TV income grew). So we weren't making losses as a result of our wage bill. Gate receipts are neither here nor there, if we filled the ground every single game they're a drop in the ocean of TV money. Or they were during those years when we had all that TV money and yet the debt was rising. Which is why I've always argued we need to keep ticket prices as low as possible.

[Casino]

Those wages, as I keep saying, were still below income tho (even tho for a period the rate at which they grew may have been sharper than the rate at which TV income grew). So we weren't making losses as a result of our wage bill. Gate receipts are neither here nor there, if we filled the ground every single game they're a drop in the ocean of TV money. Or they were during those years when we had all that TV money and yet the debt was rising. Which is why I've always argued we need to keep ticket prices as low as possible.

 

 

conversely, you'll now be arguing we need to get them as high as possible, of course

[davidjack]

I love a laugh, I just don't find our predicament, or Gartside's joke of an explanation, very funny.

[davidjack]

Quite the reverse, I'd have them as cheap as possible. Season tickets and kids tickets are all good value, but on the day prices are ridiculous - how many floating fans are gonna pay 30 quid to watch what we're serving up? Crowds of 13k are your answer.

[Carlos]

There would be crowds of 13K if we gave them away, with the "boycotts".

[Guest]

Those wages, as I keep saying, were still below income tho (even tho for a period the rate at which they grew may have been sharper than the rate at which TV income grew). So we weren't making losses as a result of our wage bill. Gate receipts are neither here nor there, if we filled the ground every single game they're a drop in the ocean of TV money. Or they were during those years when we had all that TV money and yet the debt was rising. Which is why I've always argued we need to keep ticket prices as low as possible.

 

 

This is my interpretation of your general theme;

 

You have undertaken significant diligence into the position. As much as possible as an outsider.

 

You cannot see that the numbers add up and, reasonably, ask where the money has gone/how come we are in £163m of debt.

 

Because of that, you feel that there is something wrong.

 

 

I follow your logic.

 

I would request that you are more explicit; get out what you feel has happened, as I think that you have a real suspicion.

Edited October 8, 2014 by boltondiver

[Carlos]

Or alternatively tell it to someone who gives a shit.

[Guest]

I thought it was a reasonable interview. Technically Phil Gartside is Chairman of Burnden Leisure, which owns Bolton Wanderers but also has other interests. I think that is what he meant when he said the football club is the loss making part of the business.

 

One thing though from that interview is it reads like he really has no love for it anymore. Can't blame him at all. It is a very tough job. But I wonder if some fresh ideas and energy are needed now. As much as that won't change the financial position Phil almost seems to be saying he's doing the job for Eddie, but doesn't really want to. Can't be great for any organisation when the man right at the top feels a bit jaded by it all.

 

Not a criticism of Gartside more just an observation. I think a job like that takes its toll after so long.

[Kill Cricket]

A quick question, if anybody knows.

 

Has Gartside taken over as CEO (as well as chairman) after Allan Duckworth left?

 

We don't seem to have a CEO listed on the staff page of the website.

[Sweep]

 - how many floating fans are gonna pay 30 quid to watch what we're serving up? Crowds of 13k are your answer.

 

Even if we made pay on the day prices £1 per person, we still wouldn't break 15K people this season (apart from selected "big" games")  -  there are plenty on here who will testify that they can't give their season tickets away when they cannot make a match.

 

I really don't see that lowering the prices would make for much larger crowds, it would though contribute to a far lower income

[Eddie]

This is my interpretation of your general theme;

 

You have undertaken significant diligence into the position. As much as possible as an outsider.

 

You cannot see that the numbers add up and, reasonably, ask where the money has gone/how come we are in £163m of debt.

 

Because of that, you feel that there is something wrong.

 

 

I follow your logic.

 

I would request that you are more explicit; get out what you feel has happened, as I think that you have a real suspicion.

Don't encourage him, he's clearly not got the slightest clue about finance yet continues to ramble on like he's the chancellor of the exchequer.

 

His latest gems:

 

Wages were below turnover so why weren't we making a profit - Well according to Casinos FACTS wages were 86% of our revenue. Now with the rest of it we've got every other expense to pay, ie. upkeep of the stadium, agent fees, player amortisation that hits the P&L, losses on sales of players, down to the fucking leccy bill. A clubs finances don't just stop after revenue and wages, there's a shitload more to come after that and if 86% has been taken up by wages then it doesn't give us much chance of turning a profit.

 

We should now be reducing what is about to become our main source of revenue as the parachute payments disappear - Our whole expenditure allowed is now based on what money comes in (FFP) and just as we're losing massive chunks due to our relegation you now want to slash ticket prices to further reduce revenue. If you think that taking £15 off a ticket will be balanced out by an increase in ticket sales in our current state then you are way off the mark.

 

If I could be arsed then I'd go back through every set of accounts, add up the losses each year, show you that they were covered by 'loans' from ED and therefore end up in the situation that we're currently in. As I can't be arsed in the slightest and you would probably only dismiss it then I'd strongly suggest that you do this yourself.

[gonzo]

I'm still non the wiser as to who the Gartside out Brigade would rather be in charge and if they want a full overhaul of the boardroom?

[gonzo]

.

Edited October 8, 2014 by gonzo

[gonzo]

Fuck knows what happened there. Haha

Edited October 8, 2014 by gonzo

[davidjack]

Eddie, you're clearly a financial wizard...tell me why no other similar club has debts like ours. Wigan - with a bigger wage to turnover ratio - for example. I don't have the answer - I'm asking the question though. Unlike some on here, I didn't buy a season ticket to support our "non football activities"...and refuse to put my faith in a man who's overseen this mess.

[tyldesley_white]

I'm still non the wiser as to who the Gartside out Brigade would rather be in charge and if they want a full overhaul of the boardroom?

What these clowns dont get is that 'IF' we got rid of Gartside and the board and replaced them, ED would still own the club and therefore stil be in charge and nothing would change

[EyesRight]

Gonzo, do you know who the Gartside out brigade want in? Because I'm none the wiser.

[EyesRight]

Eddie, you're clearly a financial wizard...tell me why no other similar club has debts like ours. Wigan - with a bigger wage to turnover ratio - for example. I don't have the answer - I'm asking the question though. Unlike some on here, I didn't buy a season ticket to support our "non football activities"...and refuse to put my faith in a man who's overseen this mess.

Wigan have made more money and spent less, HTH.