Bolton LOST £35 Million Pounds (Losses Tripled)

Let's hope that squad doesn't get any 'stronger' then - I doubt that the Club could sustain the majesty of performances that would actually lose MORE than £35 million in a single season?

Have the people who produce this rubbish no sense of the absurd at all? Or are they so inured to it by football doubletalk all day long that they'll repeat anything, however stupid, as long as it's in the tens of millions.

When are our club figures going to be released ,will it be November ?

Bolton Debts of 93 million pounds (A club by club of what club debts are - really are - would be interesting. And very sobering)

MAIL

Gary Cahill is yours for £15m! Bolton put Manchester United, Arsenal, Liverpool and Tottenham on alert as debts near £100m
By Sportsmail Reporter
Last updated at 4:01 PM on 11th November 2010

Bolton Wanderers are ready to cash in on star defender Gary Cahill after revealing their debts had risen to £93million.

The in-demand England defender has been tracked by Manchester United, Arsenal, Liverpool and Tottenham over the last 12 months and Bolton chairman Phil Gartside admits he can no longer resist an offer.

After announcing annual losses of £35.4m - more than double the figure of 12 months ago - Gartside admited he may also have to sell in-form Johan Elmander when the transfer window reopens in January.

The Sweden striker, who was signed for £8.2m from Toulouse in 2008, is out of contract in the summer and at risk of walking out for nothing. Both Spartak Moscow and Fenerbahce are interested in the 29-year-old.

But Bolton fans will be most concerned about losing 24-year-old Cahill, who has once again impressed at the back during the club's impressive rise to sixth in the table this season.

'If a Champions League team knocks on our door in January that’s the best time to sell an asset because Champions League teams will pay the money,' Garside, who is looking for about £15m, told Bloomberg.

The Reebok Stadium chief, who is also a long-serving FA board member, has called for limits on Premier League players’ wages.
Swede surrender: Elmander (left) looks set to leave Bolton either in January or at the end of the season

Concern: Bolton chief Gartside

'Owners should be allowed to invest in equity,' he said. 'So if you, as an owner, want to buy a striker for £10million that shouldn’t be a problem.

'But what you then can’t do is pay him extortionate wages that take you out of the break-even situation.
'We are carrying too many on the wage bill. To be fair, nine players are out of contract in the summer, within them heavy earners, and we’ll decide if we want to offer them new contracts.

'I think (Premier League chief executive Richard Scudamore) is concerned as much as anybody about the financial state. We keep upping the income and we keep losing more money. It’s ridiculous.'

Bolton’s financial position is not as precarious as was Portsmouth’s when they went into administration owing more that £120m because the Wanderers’ owner Eddie Davies is owed the bulk of the debt.

But on Elmander, Gartside admitted: 'He’s out of contract at the end of this season and again if someone knocks on the door in January then that’s obviously a consideration we have to make.'

: www.dailymail.co.uk/sport/football/article-1328699/Gary-Cahill-sale-Bolton-alert-Manchester-United-Arsenal-Liverpool-Tottenham.html#ixzz151IH2VUd

They talk about a high wage bill as if it isn't anything to do with them. Just as they talk about debt in one breath, and then laugh it off because the money is owed to a moneylender who is in a position to manipulate the Club from the inside.

Unlike a bank, which can't make a Club borrow more than it wants to borrow, should borrow, or needs to borrow. And which can't squeeze more money out of the deal than the Club agrees to.

Owners should be allowed to 'invest in equity'? What this means is that the Owner buys HIMSELF shares, but the cost of doing so isn't borne by the owner at all. It is passed on to the next owner who drops it straight back into the Club's lap as debt.

The easy way of spending the owner's money is for the owner to give the money to the Club, or write off any losses at the end of each year.

Then the clowns are losing their own money, and squandering their own resources on their own inept signings and spendthrift economics.