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Bolton Wanderers going into administration

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May 12, 2008
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A finace company owed £4m by the club have rejected their offer to pay it and have appointed administrators who could put the club into administration at 1030 in the morning. Tought times ahead for them.

Bolton Wanderers FC
 

Liam Vercoe

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Nov 27, 2010
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And the football league think a points deduction and transfer embargo will help them out. Absolute joke.
 
May 4, 2012
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Liam Vercoe":ujzxhzss said:
And the football league think a points deduction and transfer embargo will help them out. Absolute joke.
It's not about helping them, it's not their job to help them. It's to punish them for financial mismanagement and set a warning to other teams.
 

Lundan Cabbie

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Argy1e":1u6o46i0 said:
Liam Vercoe":1u6o46i0 said:
And the football league think a points deduction and transfer embargo will help them out. Absolute joke.
It's not about helping them, it's not their job to help them. It's to punish them for financial mismanagement and set a warning to other teams.

Harsh but very true
 
Apr 4, 2010
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Lundan Cabbie":2ns1r1v8 said:
Argy1e":2ns1r1v8 said:
Liam Vercoe":2ns1r1v8 said:
And the football league think a points deduction and transfer embargo will help them out. Absolute joke.
It's not about helping them, it's not their job to help them. It's to punish them for financial mismanagement and set a warning to other teams.

Harsh but very true

Some would say harsh others would argue that financial mismanagement and years of spending beyond their means has put them at an unfair advantage over those who have spent what they could afford. A 12 point deduction is nothing compared to year upon year of financial advantages they gained on other people's money.

At times like this though it's the fans I feel for. The people like us not too long ago who had little say in the financial dealings of the club yet are the only ones left to pick up the pieces when the owners inevitably do a runner.

12 points is too little too late as far as I'm concerned. The authorities should be stepping in long before administrators get called in. Stop encouraging financial risk taking by dishing out parachute payments, close the gap between the FL and PL to prevent clubs throwing every penny they can convince people into giving them to achieve the big pay day, challenge owners on their accounts and threaten to take the club off them when they refuse to change.

The FL are doing a disservice to football fans by their continued chasing of PL riches and foreign markets. Their primary role is to manage and protect the game and the clubs that play it. Enhance the game by targeting foreign markets if needs be but that cannot be done at the expense of their bread and butter role as regulator for the 72 teams in their divisions.
 
Jan 17, 2017
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Keepitgreen":94rc6nyr said:
A finace company owed £4m by the club have rejected their offer to pay it and have appointed administrators who could put the club into administration at 1030 in the morning. Tought times ahead for them.

Bolton Wanderers FC

News we thought was coming, however they probably could have found a better picture of the chairman than one of him lounging in a chair looking all smiley!

I hope for the sake of their fans they can get through this and rebuild. But it does ask the question, how many more clubs need to go this route before the EFL or FA start cracking down on the mismanagement before the clubs get into trouble?

This is the exact reason I'm happy the "living within your means" method is adopted at Argyle.
 
Jan 4, 2005
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Of recent time Bolton have not covered themselves with financial management glory but I am afraid that the death of the majority shareholder Garside was the catalyst for their financial decline. His successor was not as wealthy, this is allied to the fact Bolton as a town is just a tad bigger in population than Plymouth at circa 280K. At the same time within an hour there are numerous other clubs one can attend to name Man Utd, Man City and Burnley as starters. Bolton'S fall mirrors the fall at nearby Blackburn[ population only 160k] on the death of their major benefactor Walker of Walker Steel
I d not like to see an old club like Bolton go to the wall but given all the £Ms that have passed through their hands in recent past seasons, I do think that Garside's successors need to look at themselves. I know Argyle survived dangerously but they did not have £Ms of Premiership monies flooding through their bank account like Bolton. I am sure their supporters are livid
 

Lundan Cabbie

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Be careful who you borrow from. Bolton haven’t spent ridiculously and had to call in administrators to sort out the mess, they borrowed a relatively small amount (smaller than the loan Argyle have taken from the Halletts) from a company and have got into difficulties paying that back. This company could have accepted the clubs proposed new payment plan but opted to call in administrators instead. So like I said, be careful who you borrow from because the “A” word in football means a loss of points whether it is due to mismanagement or poor financial options.
 

Liam Vercoe

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Nov 27, 2010
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Argy1e":1h447gz2 said:
Liam Vercoe":1h447gz2 said:
And the football league think a points deduction and transfer embargo will help them out. Absolute joke.
It's not about helping them, it's not their job to help them. It's to punish them for financial mismanagement and set a warning to other teams.

Okay, granted they shouldn't help them out, but it's ridiculous that they punish the people who had nothing to do with putting them in that position, i.e. players, staff and fans, and yet the owners just sell up and move on, leaving the club in a worse situation anyway because they can't sign players and could possibly be relegated due to having a points deduction.
 

IJN

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Wait until the football vultures come a knocking. The promising youngsters, then the young first teamers. Remember those times? Mason., Noone, Stephens, Bolasie ...................
 
Jan 20, 2004
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I don't feel sorry for the fans, at least not all of them,. It is in most cases the fans that put pressure on the board to spend beyond the clubs means.
When the club is successful they turn out in their thousands and reap the benefits of the glory days. When the team starts under performing they fall away generally leaving a wages deficit.
Yes the few fans that are left to hold the club together deserve our praise and there are all sorts of chairman and boardroom egos that gamble with the finances, but in general it is in response to fan pressure and the fear of falling gate receipts.
 

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I remember a few years ago their former chairman Gartside tried to float the idea that relegation from the Premier League should be abolished. By an extraordinary coincidence, Bolton were a Premier League side at the time.
 
Mike E":1dy37x2s said:
I don't feel sorry for the fans, at least not all of them,. It is in most cases the fans that put pressure on the board to spend beyond the clubs means.
When the club is successful they turn out in their thousands and reap the benefits of the glory days. When the team starts under performing they fall away generally leaving a wages deficit.
Yes the few fans that are left to hold the club together deserve our praise and there are all sorts of chairman and boardroom egos that gamble with the finances, but in general it is in response to fan pressure and the fear of falling gate receipts.

Spot on. The other problem Bolton have is HMRC’s openly declared intention of forcing a league club to go bust to discourage others from going into administration and evading tax liabilities.
 

pafcprogs

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Apr 3, 2008
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On Ians point, doesn't the new window embargo mean they are also now denied the chance to raise any funds by cashing in on players....imagine where we would be now if that had been in place when Risdale paid HMRC by flogging Bradley WP....

I saw something recently about Birmingham having similar problems I thought....