Bolton and Blackburn could enter Administration

rcoobc · 14th January 2012, 01:10

if they get relegated?

Bolton Wanderers must avoid Premier League relegation to tackle £110m debt
Bolton Wanderers face Manchester United at Old Trafford on Saturday with manager Owen Coyle conceding that Premier League survival is crucial to the club’s attempts to drive down their £110million debt.

Quote:

The fact that the outcome of Bolton’s battle to avoid relegation will resonate in Bermuda and the Isle of Man as much as the Lancastrian town which has supported a Football League team since 1888 emphasises the high stakes at play for a club attempting to avoid servicing such a mountainous debt without access to the riches of the Premier League.
With Bolton controlled by Isle of Man-based owner Eddie Davies through the Fildraw Private Trust, a company registered in Bermuda, Coyle admitted after a meeting with Davies recently that the club’s financial health rests in the hands of the Bolton-born millionaire.
“Eddie isn’t one who seeks the limelight,” Coyle said. “But everyone at this football club is indebted to him. He can see the bigger picture and that football always gives you an opportunity to turn that on its head.
“But in the modern game, and accepting Eddie has poured £100million in to get this club to this level, I understood when I came in that I had to get this club back on an even keel.”
While concerns grow over the ability of Blackburn Rovers, under their Indian owners, Venky’s, to survive the financial body blow of relegation this season, the picture at the Reebok appears equally worrying...

Bolton Wanderers must avoid Premier League relegation to tackle £110m debt - Telegraph

More I didn't quote. With Bolton it seems most of the debts have been taken on by the owner, with Blackburn the picture is unclear.

rcoobc · 14th January 2012, 02:44

What is the parachute payments these days? On wikipedia it says 11 million, but no mention if that is the whole amount or the first year.

I thought it was something like 12 million, 4 million 2 million

cw1984 · 14th January 2012, 02:57

It's frightening how clubs haemorrhage money these days. I wonder what will be left of the game in 20 years...

goldenballs · 14th January 2012, 19:32

And the majority is down to Wage bills..

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14th January 2012, 02:44	#2 (permalink)
rcoobc Not as crap as eferyone thinks Join Date: Jul 2010 Location: Corrupting West Brom Posts: 17,206	What is the parachute payments these days? On wikipedia it says 11 million, but no mention if that is the whole amount or the first year. I thought it was something like 12 million, 4 million 2 million

14th January 2012, 02:57	#3 (permalink)
cw1984 Compulsive wanker Join Date: Mar 2008 Location: Guiding Cardiff to the promised land just so I can wipe that smug fucking grin of Cider's face. Posts: 24,006	It's frightening how clubs haemorrhage money these days. I wonder what will be left of the game in 20 years...

14th January 2012, 19:32	#4 (permalink)
goldenballs Victoria's secret Join Date: Sep 2006 Location: Super North Wales Posts: 11,966	And the majority is down to Wage bills..