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Why would it be bigger? TV revenue is the same for all the teams. Thats the difference between the Premier league and leagues like Spains where the TV revenue isnt split equally and Real and Barca get 5 x the income of many.in the league.
This makes interesting reading: http://www.the-wanderer.co.uk/boards/viewtopic.php?f=4&t=25217&start=20
What an amazing job Dave Whelan has done for our club. With practically no debt he has taken us from a club ranked 90th in the.country with crowds of 1200 to a club just finishing 8 years in the top league, an FA cup win, a European adventure with an average of 15,000 now in the Championship. It may not be this year but am convinced he will get us back up in the next two seasons.
I hope people stop slagging whelan off & calling him tightarse & the like. We should be grateful for having an owner who is careful with money & ensures we dont end up in debt. Its been reported that we have made a profit, albeit 800k, but nonetheless a profit.
Not a yank, Eddie Davies, but Bolton diehard, living today in Isle of Man.
His company is owed 151M, Bowton 164M in debt overall.
Gartside the idiot who has presided over the whole mess.
At least 30k weekly man D Ngogg managed to bag an equaliser today (small comfort).
Tough times ….
The reality of it is that the debt to the owner is worthless. DW was in the same position (to a lesser extent) and converted his loans into equity – which was effectively saying “it’s worthless anyway.” In accounting terms there are some advantages to having it is a shareholder loan rather then equuity so that is probably why – when fair play comes in then he will probably convert it into equity. The biggest advantage is that as a “loan note” holder he will have preferential rights and will be the largest debtor. So if for some reason it went into liqudation he would get the vast majority of the proceeds of the sale of any assets – whereas an equity owner would only get anything that was left after all other debtors have been paid.
a company is only worth as much as someone is willing to pay for it – and that will only be assessed on future profitability and cash flow – not historic. So any debts in way of loan notes will be not valude in a sale.
there would be absolutely no advantage in calling in the debt as it would be shooting yourself in the foot.
The debt that Bolton have to their owner is a cash amount. No matter what happens to the club he is still owed £151 mill. I am not so convinced however that he would be so high up the priority list if the business went into liquidation – HMRC have absolute top priority claims.
DW has shown faith in Latics though by converting his debt to equity. The value of that of course fluctuates with the fortunes of the club. If the fortunes of the club recede, then so does the value of the equity, and accordingly the amount he is owed. If he has say a million shares, and the value drops to 0.5p each, then he would only be owed £5,000. Hardly bleeding the club dry, is he?
The debt that Bolton have to their owner is a cash amount. No matter what happens to the club he is still owed £151 mill. I am not so convinced however that he would be so high up the priority list if the business went into liquidation – HMRC have absolute top priority claims.DW has shown faith in Latics though by converting his debt to equity. The value of that of course fluctuates with the fortunes of the club. If the fortunes of the club recede, then so does the value of the equity, and accordingly the amount he is owed. If he has say a million shares, and the value drops to 0.5p each, then he would only be owed £5,000. Hardly bleeding the club dry, is he?
NOT AT ALL, and in overseeing the debt / equity swap, he’s reduced the overall indebtedness of the club (servicing of debt …. interest-free ?), the gearing ratio (debt / equity ratio) has improved accordingly. Basically, put the club on a much more stable financial footing (no doubt, appeased the banks re. corporate overdraft facilities obtained); one less likely to fall foul of Mr. Blatter’s fair play regulations (!!!!!)
yes, HMRC and staff would take priority in that order but other creditors would fall below the loan note holders priority.
i haven’t looked at the accounts but would expect the asset value of the ground (if it is actually owned by BWAFC) should realise sufficient to pay off thos libiabilties and then the rest would go to the loan note holder. Once that debt is satisfied (not likley) the rest of the estate would be paid out to the remaining creditors in proportion to their debt.What would be the value of an unused football stadium in Horwich?
It will be interesting to see what happens to the Ricoh Arena in Coventry. Coventry City plan to build a new stadium just outside the city. Meanwhile, they are playing their home games at Northampton.
I wonder if they have considered a move to Horwich? The way things are going, it may not be long before they don’t need a home ground at all. A great shame for a little club that once beat a giant in the Cup Final.
What would be the value of an unused football stadium in Horwich?It will be interesting to see what happens to the Ricoh Arena in Coventry. Coventry City plan to build a new stadium just outside the city. Meanwhile, they are playing their home games at Northampton.
I wonder if they have considered a move to Horwich? The way things are going, it may not be long before they don’t need a home ground at all. A great shame for a little club that once beat a giant in the Cup Final.
What struck the other day reading the article on BWFC were the comments made by Gartside re. inability goinmg forward to rely on owner E Davies to the same extent, given the new fair play regulations (correspondingly, the need to generate other revenue streams to ‘grow the top line’.
Now we can all be wise after the event, but why idea of sponsorship and god knows all other initiatives geared to revenue generation were not implemented long before is beyond me. Are these guys not businessmen (e.g. Gartside – ‘football men they are often not considered to be .. e.g. Tan / Cardiff). Did BWFC think Mr Davies ‘treasure chest’ was without limits ???!! Thank God, Whelan had a little more business acumen (common sense !).
One may say BWFC senior officials have been negligent in performance of their responsibilities (so much for ‘fiduciary duty’) … and so its the supporters who ultimately suffer
Leeds have been trying to get back to the ‘good old days’ of Ridsdale / O Leary for some years now …(how they have paid!)
I know a season ticket holder at Bolton, he told me in the summer they are stuck with players Owen Coyle signed on big wages. They have had offers for the players but they won’t leave as they are on such good money and it is crippling them.
I knew Whelan would let Coyle go before christmas as he wasn’t going to let him waist any more money.
He was good at table tennis though, pity he didn’t train the players more instead of the table tennis tournaments.
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