Bolton players not paid in November

[PatHead]

BBC reporting players were not paid last month.

Not looking good for them is it?

Wonder what other clubs are in a similar position?

[easty]

Maybe their pay is performance related? Although if so, they shouldnt have been paid all season.

[Cool_Hand_Luke]

BBC reporting players were not paid last month.

Not looking good for them is it?

Wonder what other clubs are in a similar position?

£173m in debt :shocked:

[HTD1875]

Armageddon

[Billy Whizz]

£173m in debt :shocked:

Overspent for years. Seemingly the hold up when Gary Cahill went to Chelsea, was he had to take a pay decrease to sign for them

[Michael]

Seems ridiculous that an English club that played in the top division for many years can be in this position (this will be partly why they were there for so long...but still). I just don't understand how financial incompetence of this magnitude is possible.

[Sergey]

£173m in debt :shocked:

If you personally owe the bank £1000 then that's your problem. If you owe the bank £1,000,000 then that becomes the banks problem.

There becomes a point when the bank are in too deep and have to play along...

...but £173m is sheer madness.

[monktonharp]

BBC reporting players were not paid last month.

Not looking good for them is it?

Wonder what other clubs are in a similar position?they'll get out of it, others do. their ground is probably only worth 1.75 m. their MP,Local Lord, and a local business man/woman will come up trumps (no pun) and sort it with hmrc.

[gringojoe]

Should have stolen the poppy money and charity money would get them a bit breathing space.

[NORTHERNHIBBY]

New ground for Neil Lennon as well as this time the club is to blame.

[iwasthere1972]

£173m in debt :shocked:

At least the cheats from Gorgie won something. That's a shocking amount to be in debt. Seems to be the norm nowadays. Clubs need to take some responsibilty.

[blackpoolhibs]

It will be interesting to see what a proper football association does if this carries on and players are not payed again?

[southern hibby]

If you personally owe the bank £1000 then that's your problem. If you owe the bank £1,000,000 then that becomes the banks problem.

There becomes a point when the bank are in too deep and have to play along...

...but £173m is sheer madness.

Wonder if this will go down as the Guinness book of records Cake Bake, if they get their debt paid of ........

Thought about it and it will stay with the manly mob OBVIOUSLY

GGTTH

[Tyler Durden]

If you personally owe the bank £1000 then that's your problem. If you owe the bank £1,000,000 then that becomes the banks problem.

There becomes a point when the bank are in too deep and have to play along...

...but £173m is sheer madness.

Vast majority is owed to their owner so the banks aren't actually guilty for this particular madness!

[Scorrie]

Vast majority is owed to their owner so the banks aren't actually guilty for this particular madness!

Ah so they in fact owe the money to themselves so that's ok (yamonomics...)

[blackpoolhibs]

Vast majority is owed to their owner so the banks aren't actually guilty for this particular madness!

:agree: Cant remember the guys name but i think that's true. In fact there was something on the local news only a week or so ago, saying he was willing to write the whole debt off if he could find a decent buyer?

[GreenLake]

:agree: Cant remember the guys name but i think that's true. In fact there was something on the local news only a week or so ago, saying he was willing to write the whole debt off if he could find a decent buyer?

Charles Green and Craig Whyte?

[iwasthere1972]

1-0 down to Brentford after 10 minutes.

[PatHead]

:agree: Cant remember the guys name but i think that's true. In fact there was something on the local news only a week or so ago, saying he was willing to write the whole debt off if he could find a decent buyer?

Eddie Davies according to Beeb

http://www.bbc.co.uk/sport/0/football/34966436

[bingo70]

I was worried Stubbs would be a stick on for the Bolton job if Lennon got fired, which I presumed was inevitable given their league form.

This story is a bit of a relief on that front although it's never nice to hear about people not getting paid, especially the non playing staff at this time of year.

[Stax]

1-0 down to Brentford after 10 minutes.
Should be down to 10 men as well, horrendous foul. They're honking.

[blackpoolhibs]

Eddie Davies according to Beeb

http://www.bbc.co.uk/sport/0/football/34966436

That's the man. :agree:

[HH81]

Not going to afford the wages on that crowd?

[monktonharp]

If they have to have a fire sale, to raise some dosh, would like our club to buy their state of the art emergency generators which are driven by 6 cylinder top class Perkins engines:cb Saw that info, in the Perkins magazine years ago:greengrin

[the pie eater]

:agree: Cant remember the guys name but i think that's true. In fact there was something on the local news only a week or so ago, saying he was willing to write the whole debt off if he could find a decent buyer?

In paper this morning that he will write off £185 million in loans when takeover is completed.his lawyers have met several interested parties in the last few days and expect to have a preferred bidder soon. A hell of a lot cash to write off if true. The guy must be totally loaded. Maybe bolton hibs can shed some light on this.

[jgl07]

I was worried Stubbs would be a stick on for the Bolton job if Lennon got fired, which I presumed was inevitable given their league form.

Why do people assume that Stubbs will be a shoe-in for a job in the English Championship after a season and a bit with Hibs? A team in trouble like Bolton will want someone experienced operating in that Division not a comparative rookie.

[LancashireHibby]

In paper this morning that he will write off £185 million in loans when takeover is completed.his lawyers have met several interested parties in the last few days and expect to have a preferred bidder soon. A hell of a lot cash to write off if true. The guy must be totally loaded. Maybe bolton hibs can shed some light on this.

He's not so loaded now.

Will be ages before any takeover happens, all the talk last week was merely to attract more attention I reckon. Not a chance Dean Holdsworth's mystical investment company will have anywhere near the sort of money to run a club at this level - you need to be able to write off £10m-£15m per year to have any hope of staying competitive. The rewards for reaching the Premier League are so vast that it's worth taking the risk when realistically all you need to do is stick around mid table most of the season and then hit form in time for the play offs.

It was always going to catch up with us after years of letting the likes of Freedman and especially Coyle hand out huge, lengthy contracts to some, at best, very average players. Even now, Medo Kamara is turning out for the U21's on an annual salary of something in the region of £1.5m having not played a first team game for us since September 2014.

[LancashireHibby]

Btw probably worth mentioning that my Bolton season ticket will be unused on Saturday as I'll be at Greenock!

[NORTHERNHIBBY]

If Lennon gets punted, the next manager in would most likely be an experienced organiser, play 4-4-2 and face the same way.

[Hamish]

I see Oldham players didn't get paid today either.

[NAE NOOKIE]

I see Oldham players didn't get paid today either.

And Northampton were on a shoogly peg until the other day as well.

The debt in the English bottom 3 divisions is huge ... I saw somewhere that the average championship club loses about 9 million quid a year. Mind you, that's peanuts to the EPL debt which is seismic. Tick, tock ?

[overdrive]

Eddie Davies according to Beeb

http://www.bbc.co.uk/sport/0/football/34966436

I see Trevor Birch of Hearts administration fame is involved at the Club.

[Bad Martini]

The yams and huns business model seems to be catching on daan saath then...:cb

[ancient hibee]

Why do people assume that Stubbs will be a shoe-in for a job in the English Championship after a season and a bit with Hibs? A team in trouble like Bolton will want someone experienced operating in that Division not a comparative rookie.


Exactly.Their present manager got his last club to the last 16 of the Champions League after all.

[LancashireHibby]

Must admit that I'm feeling a tad guilty at the moment that I'll be at Greenock on Saturday rather than the Macron!

[nellio]

My club Cardiff have huge debt (£170 mill approx?). Almost all of it owed to Vincent Tan though.

Incredible that Cardiff recieved a record amount of prize money for finising bottom of the Prem a few years aso but still managed to lost approx 10 million that season.

Here's an article about it

http://www.theguardian.com/football/2015/feb/26/cardiff-city-annual-losses-12m-174m-debt-vincent-tan

[Jim44]

My club Cardiff have huge debt (£170 mill approx?). Almost all of it owed to Vincent Tan though.

Incredible that Cardiff recieved a record amount of prize money for finising bottom of the Prem a few years aso but still managed to lost approx 10 million that season.

Here's an article about it

http://www.theguardian.com/football/2015/feb/26/cardiff-city-annual-losses-12m-174m-debt-vincent-tan

Figures of several million pounds mean absolutely nothing to these wealthy folk. I was recently reading an article about the ten richest women in the world and was staggered to learn that the richest woman was worth about $60 BILLION.

[nellio]

I would agree with that. Tan isnt the slightest bit worried about the debt and has said previously that he is willing to convert all the denbt to equity (shares) at some point. Cardiff fans still waiting for that.

[PatHead]

Not looking good based on the latest BBC article.

Bolton Wanderers: Championship strugglers set for winding-up orderBy Simon StoneBBC Sport
Financially troubled Bolton expect to receive further bad news in the next few days in the form of a winding-up petition from Revenue & Customs.
Bolton owe about £600,000 in unpaid taxes and have £172.9m of debt. (http://www.bbc.co.uk/sport/0/football/34908977)
The Championship's bottom club did not pay senior players in November and need £15m to get to the end of the season.
Takeover talks have been held with four parties (http://www.bbc.co.uk/sport/0/football/35015039) but unless a deal is done, they face the threat of administration and a 12-point deduction.
A consortium involving former striker Dean Holdsworth is thought to be the preferred bidder, though the structure of that deal is complex and is thought to involve an element of borrowing.
Should that group not take over, and no alternative buyer is found, Bolton's financial adviser Trevor Birch would have to look at alternative options, which could see the club end up in administration.
Owner Eddie Davies brought in Birch (http://www.bbc.co.uk/sport/0/football/34797932) to lead takeover discussions, with chairman Phil Gartside understood to be gravely ill. Gartside's family have requested privacy.
Davies has agreed to write off the £172.9m he has loaned the club in order to push through a deal but is refusing to put in any further funds.
Administration would leave Bolton, who reached the last 16 of the Uefa Cup in 2008 and were only relegated from the Premier League in 2012, 16 points adrift of safety.
Speaking last week, Birch described Bolton's situation as "increasingly perilous", (http://www.bbc.co.uk/sport/0/football/35015039) adding "new investment is needed quickly".