Why Bolton have so much debt

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Good piece from the ever reliable Swiss Ramble:

http://swissramble.blogspot.com/2010/11 ... -debt.html" onclick="window.open(this.href);return false;

The last time that the club made a profit was back in 2006 when they just about broke even, but since then the losses have been steadily rising: 2007 £2 million, 2008 £8 million, 2009 £13 million and 2010 £35 million. The widening of the loss in the last year, when it very nearly tripled, is most shocking, and cannot simply be ascribed to the £4 million cost of restructuring the management team. The truth is that there are fundamental flaws in Bolton’s operating model. Even the relatively small loss in 2007 was boosted by the once-off £3.5 million sale of naming rights for the training ground.

When Gartside recently raised the possibility of a wages cap in the Premier League, he exclaimed, “We keep upping the income and we keep losing money. It’s ridiculous.” Well, he’s half right, if you examine how Bolton moved from a £4 million profit in 2005 to a £35 million loss in 2010. Yes, there has been some revenue growth, but not much – and almost all of it has come from television. Gate receipts have actually fallen in that period.

[Lofthouse Lower]

Posted elsewhere, chum.

http://www.the-wanderer.co.uk/boards/vi ... 28#p586828" onclick="window.open(this.href);return false;

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Many apologies, missed that one.