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Home: All Other Football Interests: Premier League & Football League:
Bolton Wanderers "hours from administration"

 



paulh66
Qatar World Cup bid member!


Sep 10, 2018, 10:10 PM

Posts: 17867
Location: Surrey
Team(s): Tranmere Rovers, South Liverpool (the South will rise again), Cammell Laird

Post #1 of 8 (18431 views)
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Bolton Wanderers "hours from administration" Can't Post or Reply Privately

....having recently come out of transfer embargo and signed a player for £1m. Crazy
Details at: https://www.theboltonnews.co.uk/...ration-within-hours/, but even if they do stave off admin and the 12 point penalty there are surely questions to be asked about the EFL's oversight of the situation.


paulh66
Qatar World Cup bid member!


Sep 11, 2018, 11:15 AM

Posts: 17867
Location: Surrey
Team(s): Tranmere Rovers, South Liverpool (the South will rise again), Cammell Laird

Post #2 of 8 (18289 views)
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Re: [paulh66] Bolton Wanderers "hours from administration" [In reply to] Can't Post or Reply Privately

Looks like good news at the last minute, a local journalist reporting that an offer to BluMarble has been accepted in principle but needs to go through by midday today to stave off administration.

Possibly a case of rearranging the deckchairs on the Titanic rather than longer term financial security, though...


Leyther_Matt
First Team Star

Sep 11, 2018, 4:06 PM

Posts: 1840
Location: Leigh, Lancashire
Team(s): Hibernian, Bolton Wanderers, Atherton Collieries & Leigh Centurions RL

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Re: [paulh66] Bolton Wanderers "hours from administration" [In reply to] Can't Post or Reply Privately

The financial equivalent of Aaron Wilbraham securing safety in injury time last season. Not the first time we've been in such a situation. If I was putting it kindly then I'd say the owners have nerves of steel to be able to take such things to the last minute, but if you keep playing with fire and all that...


leohoenig
Administrator

Jan 9, 2019, 6:01 PM

Posts: 12748
Location: Outer Cheltenhamshire
Team(s): Cheltenham Town

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Re: [Leyther_Matt] Bolton Wanderers "hours from administration" [In reply to] Can't Post or Reply Privately

The row between the Bolton chairman and FGR's Dale Vince goes on
https://www.theguardian.com/...P=Share_iOSApp_Other



Fat AND Pompous.
The proof that you can have too much of a good thing
Now blogging at http://www.leohoenig.com


Ronsdog
First Team Star


Jan 11, 2019, 7:22 PM

Posts: 2404
Location: Sarf London
Team(s): Lowestoft Town, Crystal Palace

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Re: [paulh66] Bolton Wanderers "hours from administration" [In reply to] Can't Post or Reply Privately

 
The FSF is reporting the situation as follows.....

Bolton Wanderers supporters are uniting in protest against owner Ken Anderson’s running of the football club, as its financial rollercoaster ride took another nosedive this week.

The latest fallout sees Bolton, an FA founding member in 1888, yet again owing significant debts that also affect at least two other English clubs. Norwich City have claimed they are owed a “six-figure fee” over unpaid payments for the loan of Yanic Wildschut and a loan-to-buy deal for Remi Matthews, who has now left the club after Bolton failed to pay an agreed transfer fee in January.

The same goes for League Two side Forest Green Rovers, whose chairman Dale Vince launched a scathing attack on Anderson earlier this week over the agreed loan-to-buy deal for Christian Doidge, who has also returned to his former club.

This follows years of financial uncertainty at Bolton, ever since the club was relegated from the Premier League in 2012. A failure to regain top-flight status saw the club’s frivolous spending land it in £172.9 million-worth of debt, which former owner Eddie Davies wrote off when Ken Anderson, a man banned from being a company director for eight years in 2005, took control of the club.

Since then, several winding-up petitions from HMRC have come and gone, as well as a two-year-long transfer embargo, during which we got relegated to League One and somehow managed to immediately get promoted.

But the financial situation remains unclear at best. In the summer, Bolton’s players went on strike and refused to play a pre-season friendly against St Mirren over unpaid bonuses. The club then very nearly went into administration in September - only saved from the brink when Davies bailed Anderson out with a £5 million loan four days before his death. The club is due to repay that debt by March, but the prospect of that happening remains questionable given claims earlier this week that the PFA had to step in to fund players’ wages for November and December, on top of the alleged unpaid fees to Norwich and Forest Green.

On top of all of that, last week it emerged that a winding-up petition has been lodged against Bolton Whites Hotel, a subsidiary of the club of which Anderson is the sole director. Then on Wednesday, two further winding-up petitions were issued against the club, one from HMRC and another from football agents firm Stellar Football Ltd.

Despite the wide-ranging media coverage of the situation - which the Chairman consistently dismisses as ‘factually incorrect’ - Anderson has staunchly denied that there’s a problem. His actions only serve to infuriate fans, to whom he even repeatedly attributes blame for not buying tickets to matches. He’s also banned local paper the Bolton News’ club reporter from attending home matches.

To top things off, on Wednesday Anderson issued a club statement ‘firing back’ at Forest Green, - whose chairman has since threatened legal action - only days after stating “l won’t lower myself to respond to his disrespectful and misleading comments.” This backfired catastrophically, only serving to gain support from rival supporters on Twitter and accruing national media coverage of the Chairman’s activity from some of the most respected football journalists in the country.

Time for action

Bolton fans have finally decided that enough is enough, and will protest against how Anderson is running the club at the home league match against West Bromwich Albion - which will be televised live on Sky Sports on Monday 21st January.

In a little under a decade, Bolton Wanderers has deteriorated from a club fielding World Cup winners, former Real Madrid players and one of the world’s most exciting players in Jay-Jay Okocha in Europe to being ravaged by debt and nearly run into the ground by a man clearly unfit to run a football club.

We will do everything we can to preserve our club’s 145-year history. We call on all Bolton Wanderers supporters to unite and welcome the support of football fans in general to ensure this happens.


paulh66
Qatar World Cup bid member!


Jan 11, 2019, 8:11 PM

Posts: 17867
Location: Surrey
Team(s): Tranmere Rovers, South Liverpool (the South will rise again), Cammell Laird

Post #6 of 8 (4154 views)
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Re: [Ronsdog] Bolton Wanderers "hours from administration" [In reply to] Can't Post or Reply Privately

 
In a little under a decade, Bolton Wanderers has deteriorated from a club fielding World Cup winners, former Real Madrid players and one of the world’s most exciting players in Jay-Jay Okocha in Europe to being ravaged by debt....


I can't pretend I've even tried unravelling how the club has got into this mess but I've often wondered if the root of it all lies in the words above. At the time Allardyce seemed to be running it prudently - short term contracts for proven internationals, financed by the PL monies, with the idea being they wouldn't be saddled with a massive payroll if they did get relegated. Were they actually overstretching themselves in the first place, leading to a snowball effect once they did get relegated?


jrev61
Man City Transfer Target!

Jan 12, 2019, 8:54 AM

Posts: 7854
Location: Northampton
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Re: [paulh66] Bolton Wanderers "hours from administration" [In reply to] Can't Post or Reply Privately

Bolton Wanderers were not an' FA founding member ' in 1888, they were founder members of the Football League.



jrev61


kirby knitters
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Jan 12, 2019, 11:41 AM

Posts: 16417
Location: Kirby Muxloe
Team(s): Hinckley United FC.

Post #8 of 8 (3490 views)
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Re: [Leyther_Matt] Bolton Wanderers "hours from administration" [In reply to] Can't Post or Reply Privately


In Reply To
The financial equivalent of Aaron Wilbraham securing safety in injury time last season. Not the first time we've been in such a situation. If I was putting it kindly then I'd say the owners have nerves of steel to be able to take such things to the last minute, but if you keep playing with fire and all that...
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How are the finances at Hibs and Colls because you have a horrible knack of being involved with disasters. The dreadful situation at RMI/Genesis and how all that ended then we have the financial problems encountered by Leigh Centurions RL on top of the mess at Bolton. Can't be many black cats left in your area to run over!!


 
 


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