Bolton Wanderers receive winding up petition

[severnside gull]

Sore point down at Brighton is administration. We didnt go into administration but the Albion Chairman sold our proper ground the Goldstone for around £6 Million to a company, paid off the few million pound debts, that company then sold the goldstone a year or so later for £30 Million odd plus. We then had to play 140 mile round trip from Brighton whilst losing to say Hartlepool as we finished 2nd from bottom of the the lowest division. Meanwhile Palace and Pompey have been insolvent what twice or three times each, whilst never leaving Selhurst / Fratton and enjoying top flight football and even in Pompey's case winning the cup. All with players that neither club could afford, especially palace as they struggle top get 10,000 paying punters in the Championship (they would have to give away tickets to get 15000 in on an average Saturday in the Championship.

(Factual innacuracies aside) precisely why [MENTION=13728]scousefan[/MENTION] should not be surprised at Albion supporters' response to clubs going in to administration

 

[Working class pride]

(Factual innacuracies aside)

Such as what that is significant?

 

[Hampster Gull]

What does the table look like if they go under now?

 

[severnside gull]

(Factual innacuracies aside)

Such as what that is significant?

I imagined that some of the (many) Palace trolls would pick up on your figures and offer quotes from their Book of Bitter and Twisted Stats

Nothing significant!

 

[Working class pride]

I imagined that some of the (many) Palace trolls would pick up on your figures and offer quotes from their Book of Bitter and Twisted Stats

Its true. Paying punters the last time they were in the Championship was little more than 10,000 for a midweek game and around 12000. Then it was freebies and adults using kids tickets. They then with such a dreadful support go into administration how many times after spending how much on players to get top flight football? Meanwhile we were at Gillingham then Withdean. Pompey did exactly the same and even won the cup. Neither club has played a home game away from Selhurst / Fratton. Ridiculous.

 

[Se20]

Who's to say the Bolton situation couldn't happen at Brighton ?
You are relying on one person to cover the losses, who in turn is hoping to get to the PL to ease the burden on his wallet.
Bloom seems a very switched on guy, a shrewd businessman, who is not use to losing money hand over fist.
Promotion is vital , not just for you, but for ALL debt laden championship clubs.

 

[andy1980]

Who's to say the Bolton situation couldn't happen at Brighton ?
You are relying on one person to cover the losses, who in turn is hoping to get to the PL to ease the burden on his wallet.
Bloom seems a very switched on guy, a shrewd businessman, who is not use to losing money hand over fist.
Promotion is vital , not just for you, but for ALL debt laden championship clubs.

He is not loosing money over fist. El Pres said his source said he is getting richer. You are right though, this could happen to us if Tony pull his funding.

 

[Se20]

He is not loosing money over fist. El Pres said his source said he is getting richer. You are right though, this could happen to us if Tony pull his funding.

He is at Brighton, but obviously not his other ventures.

 

[andy1980]

He is at Brighton, but obviously not his other ventures.

True, and he doesn't want to. It does seem that he has the losses under control at a level he can afford to cover. It sounds like Eddie Davies personal wealth has shrunk and that is why he is stopping his funding.

 

[deletebeepbeepbeep]

Who's to say the Bolton situation couldn't happen at Brighton ?
You are relying on one person to cover the losses, who in turn is hoping to get to the PL to ease the burden on his wallet.
Bloom seems a very switched on guy, a shrewd businessman, who is not use to losing money hand over fist.
Promotion is vital , not just for you, but for ALL debt laden championship clubs.

Oh look it's a Palace fan trying to teach US about the risks of competing in the Championship. Of course those risks can be mitigated if you just go into administration and screw local businesses paying back 1 penny in every pound owed.

 

[Working class pride]

Oh look it's a Palace fan trying to teach US about the risks of competing in the Championship. Of course those risks can be mitigated if you just go into administration and screw local businesses paying back 1 penny in every pound owed.

more than once. Next they will be saying how to support their club. You know this the set of fans who dont dont up unless they are in the top flight, bang drums and have an "ultra's" set of kids led by a Spurs fan.

 

[Danny-Boy]

The most recent set of accounts (June 2014) show the combined cost of the academy, stadium and hotel (all of which are owned by BWAFC Ltd) to have been £54.7M, of which £41.8M remains to be depreciated over the next 30-40 years or so. The net debt of BWAFC Ltd is listed as £182M so, after 13 years in the PL, a couple of years of parachute payments and 76% of the major tangible assets still to be "paid" for you don't think there's been uncontrolled expenditure? Wtf has happened then?
However, it's the misappropriation of collected revenue due to HMRC that means I don't have any sympathy for Bolton's plight . BWAFC has absolutely no right (morally or legally) to do this.
Perhaps Messrs Gartside et al could pop down to the cancer unit at the Christie Hospital and have look at how £600K/pm might be better spent?

Still never worked out why Dougie Freedman left Palace for Bolton in October 2012, though to be fair Bolton then nearly made the play-offs that season. I guess they had enough money then to tempt him to move North.

 

[Hampster Gull]

He is not loosing money over fist. El Pres said his source said he is getting richer. You are right though, this could happen to us if Tony pull his funding.

He's not right, hes making a cheap shot. Tony is astute, if he gets in trouble he has a great package to sell to get some of his money back. All will be fine,

 

[Danny-Boy]

I thought this might come up and, for what it's worth, I view it in exactly the same way as Bolton now.

Big difference is geography. Albion have a massive potential fan-base in Sussex, whilst potential Bolton fans locally are far more these days likely to gravitate to the Manchester or Liverpool clubs. Plus Burnley etc.

 

[sir albion]

Blimey, so they are. Does make you wonder how they're so much in debt

Even so, Allardyce left more than eight years ago, it's hard to lay all the problems at his door

Same old....Players on huge wages and long contracts and after a few years they continued the same way to get back to the prem.
No sympathy from me

 

[andy1980]

He's not right, hes making a cheap shot. Tony is astute, if he gets in trouble he has a great package to sell to get some of his money back. All will be fine,

That great package that he has to sell is costing him £1 million a month. We will have to find a Tony Bloom type person to replace Tony Bloom. I think our finances are under control. I hope the difference between Tony Bloom and Eddie Davies is that Tony will not just pull the funding, he will cover the costs that he has sanctioned until he finds someone to replace him. This is where the cheating starts. No tax payers money should be lost, no players or staff should loose out on their wages no business should loose their money. Before this point there is no difference between Eddie Davies and Tony Bloom.

 

[Hampster Gull]

That great package that he has to sell is costing him £1 million a month. We will have to find a Tony Bloom type person to replace Tony Bloom. I think our finances are under control. I hope the difference between Tony Bloom and Eddie Davies is that Tony will not just pull the funding, he will cover the costs that he has sanctioned until he finds someone to replace him. This is where the cheating starts. No tax payers money should be lost, no players or staff should loose out on their wages no business should loose their money. Before this point there is no difference between Eddie Davies and Tony Bloom.

Lots of ifs buts and maybes

 

[andy1980]

Lots of ifs buts and maybes

Yep. At the moment I don't think there is anything wrong with us, or anything to worry about. But I do think that anyone that thinks the Bolton situation is beyond Brighton is a fool. I also believe that by the end of the season we will be the club with the biggest debt (although all to Tony Bloom).

 

[KZNSeagull]

I read something the other day that said 61 clubs have gone into admin , that must be 62 now!!

Not all of them were in the PL/FL at the time though - quite a few from the conference etc. I think there are 40 odd that are still in the top 92 clubs, 4 of whom are currently doing very nicely in the Premier League, 3 of those went into Admin in the last 7 years.