Bolton's Debt Continues to Rise

  • November 12, 2012 | By Chris Mann
  • URL Short URL: http://b-ac.es/1c8ea

Burnden Leisure, the parent company of Bolton Wanderers, have reported a financial loss of £22.1million for the year ending June 2012.

Bolton's debt now stands at £136.5million, which the club says £125million is repayable to club owner Eddie Davies.

The loss represents a £4million reduction on the £26.1million loss made between July 2010 and June 2011 and was helped largely by the income from transfer dealings and a 3% increase in average matchday attendances.

Sponsorship and advertising revenue increased 11% from £3.8million to £4.3million, while corporate activity remained the same as last year, at £1.8million.

The rebranding of the club superstore saw a 6% rise in sales to £1.8million, but the club's turnover fell from £67.7million in 2011 to £64.9million, which the club have put down to reduced broadcasting revenue due to them reaching the FA Cup semi-finals in 2011, compared with the quarter-finals in 2012.

Income for football operations stood at £58.5million and, despite the 3% rise in average attendances, gate receipts were down from £6.3million to £5.7million.

Operating costs of the club were £75.6million - a 1% reduction on the previous results - with staff costs totalling £55.3million and general administration costs at £15.7million.

Other player related costs totalled £14.3million, which help see the debt rise from to £136.5million.

Speaking about the increasing debt, Wanderers chairman Phil Gartside believes there are positives for all to see, with the club reducing their losses for the second successive year.

"We continue to face a tough economic climate, but we have continued to invest across the business, and for the second year we have reduced our losses," Gartside said.

"Key to this set of figures is the fact Eddie Davies has converted his investment in our club from short-term to long-term debt.

"It is a huge vote of confidence and underlines the on-going support and commitment he has for our club.

"To lose our place in the Barclays Premier League was hugely disappointing for all of us - fans, staff and players, and our aim is to return at the first opportunity."

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Pos Team Pld Pts
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20 AFC Wimbledon 35 35
21 Tranmere Rovers 34 32
22 Southend United 35 19
23 Bolton Wanderers 34 14
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