Someone, the FA for instance is going to have to do something about all this debt clubs are in. 178million is totally irresponsible, unfair, and should not be allowed in any club our own included. Things have got totally out of hand. It really is no way to run a club or a business call it what you like, but the out come is immoral.
We had points deducted (twice) essentially for living beyond our means and getting into money trouble. The rationale is that living beyond your means gives you an unfair competitive advantage. Without wanting to have a pop at Bolton, the truth is that if they avoid sanction for overspending to the tune of £178m (mind boggling amount) and reaching the point at which they can't pay the wages by restructuring and having a big chunk of it written off it will leave a very sour taste. We get points deducted for not filing paperwork on the deadline even though it was a loan extension agreed by both clubs and the player, but they get away with ac***ulating £178m of debt? Really??? And whatever happened to QPR, who have done the same and worse but seem to have got away with it? It is difficult to avoid the feeling that there are rules to suit big clubs but that smaller clubs get hammered.
Bolton debt has not apparently been built in terms of breach of rules. Losing prem status and a couple of years of high wages and lower revenue seem to be what it's about.
Probably every prem club would struggle to balance the books for a few years upon relegation.
I think the writing off by the owner is am attempt to make some cash on the sale of the club. He is not going to get anything if it goes bust but he will if he sells it before. Win win for him and the fans get a better chance of having a steady ship sooner rather than later.
-- Edited by ian on Tuesday 1st of December 2015 07:36:13 PM
