Accounts???

[white84]

According to a statement I seen on another Bolton site when BSA left we were less than £5 million in debt.
I have no idea how the 6 seasons since SAMs departure it has gone to £ 163 million debt to the owner.
I read in another post that this club is run by crooks ,scam artists and is like the British Government in it for what they can get for themselves.
Surely at some point an accountant would of said hold on a minute??.Wasnt it £93 million the other year but they purchased the hotel.
A bit of honesty and Clarity would suffice.Yet offshore accounts,in Bermuda etc.Wouldnt be surprised if we were luandering money for the Cali Cartel.
What annoys me is we were in a position where we could of qualified for the Champions Leauge.BSA asked for £20 million as we were 3 rd in the premier and had a great start to the season.According to zbSA he said to ****side give me £20 million and I'll guarantee you top 4 finish I need to buy 3-4 players to freshen up the squad as we had a few 30 plus play

[white84]

Never posted the rest I wrote which was basically if anyone knew year by year how this money was built up debt wise I'd love to know.

[Whatsmore]

interesting post tony but I just see it from reading the accounts online.and according to what ive seen the debt rocketed due to players wages.the other points you've raised about big sam I totally agree with,we should have backed the guy and see were it took us,surely it couldn't have ended up worse than it is now.

[garyp1803]

This is an interesting read. The article is a few years old now, but at that time our debt was over 90 million back then. - view external link

[JimmyJazz64]

We paid stupid amounts of money in transfers and wages to sh1tehouse players who didn't care less about the club. I remember seeing J Lloyd Samuel's supercar outside the ground on a matchday and thought that pretty much summed up the state of the club

[JimmyJazz64]

Oh yeah, and although I'll forgive Dioufy for the effort that he put into BWFC, there was summat wrong when he was being paid enough to drive around in this...and this was just ONE of his cars

[eric1953]

Thanks for putting that attachment on Gary.

Reading through it , it soon becomes apparent that running/competing at a sustainable level in the Premier League for a long period is almost impossible , for a club the size of ours.

But call me cynical, there is enough in that piece to suggest that there has been some jiggery-pokery going on at the Reebok over the years.

And I just have a feeling that sometime in the next couple of years it is all going to come crashing down on a certain someone at the head table at the Reebok.

[white84]

Agree Eric something is not right.If Swansea ground max 20-000 n Stoke similair to Reebok/macron?wherever don't have huge debts why us as under Sam when he left we were virtually in no debt to ED.
Remember a tweet to SKD about Nicky Hunt saying "do you think it's right Nicky Hunt is a millionaire.His response I don't know!Sort of sums it up really.

[danm1992]

We paid stupid amounts of money in transfers and wages to sh1tehouse players who didn't care less about the club.

I agree Jimmy but the anomaly is that other clubs of a similar size have overspent on duds and not found themselves 160m in the red.

My interpretation of what's going on is Eddie Davies isn't putting money into the club as such. He's financing the club's expenses as you'd expect of a 90something% shareholder, only he expects to take it back out of the club at a future date, not to mention the money he's made in interest over the years. I guess there's also tax advantages to his other businesses of the losses we continually make.

[lord_hooray]

It could be argued that we have actually spent less than clubs like Stoke WBA and Blackburn etc
Megson was always moaning about his lack if finance. How we lost 63 million in one season before we went down is bamboozling. We never even made any massive signings than season, Ngog cost 4 million. Say we had 20 players making an average of 20000 a year, that is 20 million pounds a year on wages, which is a lot as most of them weren't worth 20 pence a week but still not even near the sky money we got. Our turnver was well over 70 million. Obvoiously there are other running costs but to lose over 60 million, there is something seriosly suspect, we never spent over 130 million surely?