Bolton in trouble?

http://www.bbc.co.uk/sport/football/41095212

Not had a great start either.

 

They always seem to survive somhow. Millions in debt and nobody bats an eyelid

 

They are seriously in the scheisse now. I could see them going under. One or two of these overspending clubs will eventually have the plug pulled.
They only attract crowds of about 3K more than us at this level & their spending is insane. They are a long established club & I'd be sorry for their fans if they went, but you can only keep borrowing so long. Portsmouth managed to survive, but have been down in the fourth tier for years now. I could see these going totally out of business & the same for Coventry City too.

 

Only limited assets to be sold and as the article points out they have already sold many.

 

It's highly likely that interest rates will rise quite a bit in coming years, due to Brexit & cost push inflation, resulting from the drop in our exchange rates. These clubs are struggling to cover HMRC & interest payments now. A 2-3% interest rate rise & they'll be fecked with debts of over 40 million.

 

It's a classic example of a business being reliant on one wealthy owner who is willing to underwrite significant losses season after season. The moment Phil Gartside passed away, those huge losses needed to be capitalised somehow. And they've failed with complex holdings and the issue of club ownership hasn't really been resolved.

They've had various claims against them but just about managed to settle in time. I thought the last ownership change paid off significant debts, but with many of these things, you never tend to know where the money has come from and if its structured well or has huge levels of interest to pay.

There are a few clubs who think they are bombproof but are wracking up huge debts with a personal benefactor underwriting them without paying them off, at some point the writing will be on the wall and it needs some championship clubs to go pop. The madness gets madder year on year.

 

They had £170 million in debt written off. They still owe over £40 million as I understand it, but have sold off many assets. At the moment they can cut their cloth & maybe service the interest, but a rise in interest rates with **** them, Coventry & a few other clubs in a similar state.

 

I suspect they are in deep trouble if various ownership vehicles have been liquidated. We'll see how it pans out but points deductions is pretty likely, whether it can continue without a new owner, time will tell

 

Seems like Birmingham had a similar situation- part owning parent company going to the wall(Holdsworth consortium ownes 30% of Bolton) They were NOT docked any points, I don't see any points being deducted as a result.
To be fair, when he bought he had a backer who backed out at last minute and only way to go through with it was to borrow from this other finance company who now want their money. Holdsworth was holding out on selling his share trying to get the guy who owns the other 70% to pay top dollar. Looks like his bluff was called!

 

They've been in trouble for years and years, but always seem to get away with it somehow. No doubt they'll be docked points this season.

 

i dont want to sound harsh, but ive got no sympathy for them at all. its disgraceful that the efl have allowed bolton to do and get away with this for so long. they must be deducted with at least 10 points.

 

Wouldn't want to see any club go bust but for years Bolton have been the example of how you can be ridiculously in debt and still continue to play in the football league.

 

They doubled Craig Davies' wages when they were carrying debts in excess of £100million.

I would love to see them go under, but let it be next season. We need to eviscerate them twice before they die. Winning at the Macron would give me a whole lot of pleasure.

 

They obviously don't really care for rules....

"BBC Radio Manchester understands that that Bolton Wanderers are finalising a deal for Cardiff midfielder Craig Noone. Unless Bolton can convince the EFL to lift the transfer embargo only free-agents, free transfers and loan signings are possible"

 

Trying to sign Josh Morris too, by the sounds of it.

 

Due to how they've set it all up, they won't get a points deduction

 

If they sign him on loan it'll be within the rules though.

 

How?

 

The rules need changing.

 

They won't now because Ken Anderson has now settled the bill with Blumarble, the finance company who Holdsworth was in hock to, and has effectively bought the rest of Bolton FC - although he's done it by leveraging debt against the club - I think the EFL had told them, sort out the bill with Blumarble or we're going to dock you 14 points. They now await another buying who just needs 30-40 million to wipe the debts and then some more money to pay off Anderson - I can see a situation like Leeds, where the club goes into admin, wipes its debts, then gets bought by some mystery offshore company for £1......