Weststander
Well-known member
This.
Bolton overspent and over borrowed, which was entirely the fault of owners past. This can’t be attributed to the PL.
A shame for the staff and any creditors who’ll only receive x pence in the pound of debt.
Got something to say or just want fewer pesky ads? Join us... 😊
[Football] Bolton Wanderers on the Brink?
- Thread starter Boys 9d
- Start date
This.
Bolton overspent and over borrowed, which was entirely the fault of owners past. This can’t be attributed to the PL.
A shame for the staff and any creditors who’ll only receive x pence in the pound of debt.
Car park, I think.
Bold Seagull
strong and stable with me, or...
There are many others, Maidstone paid £400,000 for a plot of land for a new stadium without getting planning consent first, which they then couldn't get. They actually remain the last Football League Club to go out of business completely in 1992.
In the lead up to the 90s and the formation of the Premier League, the game was littered with clubs on the brink. What happened to us and many others before and since hasn't been down to the Premier League.
schmunk
Why oh why oh why?
Yes Chef
Well-known member
In fairness, the no relegation plan was Phil Gartside/Fat Sam, nothing to do with the current lot
Football Clubs need to be held in check because many of them push the Boundaries of Taxation Avoidance. As seen with Rangers treating Salaries as Loans and then writing them off to avoiding paying tax and NIC
Going back years when HMRC went out to Leeds United and they were putting payments through to players who moved house from one part of Leeds to another they were making payments for moving costs and claiming that they were ''tax free relocation fees''
All this deprives the Treasury much needed funds to pay for schools, hospitals etc - They need to be kept in check and if points deductions help keep them in check then I am all for it
Weststander
Well-known member
Bigger than that, football clubs going into administration deprive HMRC (us) of many £m's in tax and NI on each occasion. The insolvency rules for football clubs are that unpaid taxes are not a preferential creditor, giving the green light for wiping out all tax debt overnight. In other words, tax monies due to the state were instead used for day to day operations up until the date of administration. Disgusting.
Horses Arse
Well-known member
I knew my memory was fading but....... I do now remember Maidstone given how we benefited from that but had completely forgotten about Boro and the rest. Still think the PL impact is hugely negative - can see multiple car crashes appearing as it is just not sustainable unless you are in the bubble of the PL.
Kuipers Supporters Club
Well-known member
Tell that to the fans of who have all had financial trouble and mismanagement:
York City
Torquay United
Aldershot Town
Hereford United - Defunct
Stockport County
Darlington - Defunct
Chester City - Defunct,
Wrexham
Boston United
Rushden & Diamonds - Defunct
Halifax Town - Defunct
HastingsSeagull
Well-known member
Bolton were the biggest supporters of closing the Premier League and having no relegation/promotion but it's not the current lot. They're long gone.
I do wonder if the problems started when they had virtually an entire squad of very old, highly paid 'names' with no re-sale value but huge wage drains on yearly turnover. Once relagated in that situation it must have been hard to fix.
I do wonder if the problems started when they had virtually an entire squad of very old, highly paid 'names' with no re-sale value but huge wage drains on yearly turnover. Once relagated in that situation it must have been hard to fix.
Icy Gull
Back on the rollercoaster
- Jul 5, 2003
- 72,015
How close did we come to joining that list? A Robbie Reinalt goal and a Mark Ormerod save?
Easy 10
Brain dead MUG SHEEP
What has the steady demise of those clubs got to do with the Premier League though ?
Icy Gull
Back on the rollercoaster
- Jul 5, 2003
- 72,015
How close did we come to joining that list? A Robbie Reinelt goal and a Mark Ormerod save?
I can only find the Reinelt goal, what a day in the history of Premier League BHA
https://www.youtube.com/watch?v=Z7SCJM2E61c
Last edited:
Super Steve Earle
Well-known member
Yes, but if you build it they will come...
Bold Seagull
strong and stable with me, or...
Tell them what? That the lower tiers are looking healthy in comparison to past years at the moment, or that the Premier League is not to blame for their financial woes?
There are many of that list who were completely responsible for their own downfall and really have no one else to blame but their own owners. I mean Boston United as an example, you probably wouldn't find a bigger bunch of
running a football club and a manager at the time throughout football!
Easy 10
Brain dead MUG SHEEP
As an aside, its quite amazing that they're going into administration over a loan of less than five million quid - thats buttons in todays terms, or certainly should be for a Championship club of their size. Its not even owed to HMRC this time.
I gather the overall debt is around £13m. Shirley they won't have too much trouble finding a buyer if thats all they're in hock by.
I gather the overall debt is around £13m. Shirley they won't have too much trouble finding a buyer if thats all they're in hock by.
FFP is working in the PL, making it quite difficult for clubs to actually lose money. FFP needs to be a lot stricter outside of the PL to ensure that clubs don't overspend and go to the wall.
As ever, by the time a club gets to this point, the people who are responsible are long gone. I do feel for the employees and fans.
As ever, by the time a club gets to this point, the people who are responsible are long gone. I do feel for the employees and fans.
They managed to find a buyer a couple of years ago when the club was about £150m in debt so this should surely be a doddle
Weststander
Well-known member
That debt was mainly owed to the old owner, who wasn’t repaid and so lost it. He’d subsidised several years football operations.
Pavilionaire
Well-known member
- Jul 7, 2003
- 31,269
Football clubs don't come much more historic or traditional than Bolton Wanderers. This is a sad week for English football. I wish all the Bolton fans well.