I know they gave some good loyal fans just like us but I hope they go under. It doesn't feel good for me to say that as I rarely wish Ill on anyone but football needs to change. Sent from my iPad using Barnsley FC BBS Fans Forum
I've just tried doing some reading as to what's happened and it shows everything that is wrong with football and coincidentally it's an issue that has been raised today about our own club. A spokesman for the football club said: “Bolton Wanderers Football Club has been made aware of the proposed action by BluMarble in respect of their arrangements with Sports Shield BWFC. “This matter relates to Sports Shield BWFC and it is therefore inappropriate for either Burnden Leisure Limited, Bolton Wanderers Football Club or Inner Circle Investments to comment and as such will not make any further statement about this issue at this present time.” Blumarble, sports shield, burden leisure, inner circle investments. Oakwell holdings, oakwell community assets ltd, cobco 515 ltd. Third party ownership is illegal with regards to players and it's about time it was made illegal regarding clubs too. All clubs should be owned by individuals whether that is a single individual or a million shareholders made up of PEOPLE they shouldn't be owned by companies. Furthermore there are league requirements that grounds meet this criteria and that criteria, one of those criteria should be that the ground that the club plays on is owned fully by the club that plays on it (or by another club who have a league share if they are grounds haring) Football from too long now has been all about undisclosed fees and hiding behind holding companies to dirty the waters and conceal things and for the good of the game it's about time it stopped
Salutary lesson if one were needed that you can't live beyond your means.! They sold Burnden Park to developers who have built a Retail Park on it so they must have made money there but due to poor business decisions since they are reputedly some £170 million in the red. Thank the good Lord Patrick Cryne will never allow the threat of receivership we experienced in 2002 to blight our future whilst he is in control.!
Can't really do this justice as it seems a right old tangled-web. At least three companies set up as financing and arms-length ownership vehicles supporting Holdsworth and his pal, who then sacked Holdsworth. Holdsworth's backing company Blumarble, amongst other things, has then called in payments on a loan which it says was taken out with a 24% interest rate. The other guy is disputing it and they're due in court 10th July. In the meantime the players haven't been paid £500k, which was their promotion bonus, and players who were out on loan haven't been paid at all. The club are saying that the reason for the former is that the league has withheld the promotion prize money. For once, I agree with the EFL on summat! The club haven't as yet submitted annual accounts. Amidst this they are hoping to have their transfer embargo lifted next week ffs!
Looking at the mess they're in, I'd say any club that can't finish above Bolton even without a 17 point head start next year, is quite likely to be relegated.
Are they still in so much debt (£180 million)? I thought I'd read that the majority of it had been written off.
Their old owner wrote off around £175m of loans owed to him when he sold in 2015 Mario but the short answer to the question of how much debt they are in now is that nobody knows - they still haven't filed accounts for 2015/16. The auditors for their 2014/15 accounts said that they would still lose at least £11m a season going forward, even without the debt burden. They went down with a squad mostly on salaries between £500k and £1m a year (Wheater, Amos, Spearing and Davies all on more than 16k per week for example and they were even paying donkey Gary Madine c. £10k a week plus bonuses) and their contracts had no provision at all for a reduction after relegation!
