Middlesbrough Chairman has his say on Bury and Bolton’s financial situations
Middlesbrough Chairman Steve Gibson is highly respected in the football world, having saved the club from liquidation by forming a consortium in 1986.
Since taking over as Chairman of the club in the 1994, Gibson has seen Middlesbrough win the Second Division title, suffer three relegations from the Premier League and lift their first trophy in the club’s history, winning the League Cup in 2004.
Irrespective of the relegations, Gibson’s time in charge of Middlesbrough has been relatively successful, and he certainly knows how to run a football club.
Now, in an interview with The Northern Echo, the 61-year old has had his say on the matters of those clubs less fortunate, with Bury and Bolton in recent financial trouble.
“Ultimately, what happened at Bury and Bolton was a result of bad owners making a series of really bad decisions” he said.
“You can have all the rules you want, but if owners try to spend money that isn’t there, it’s only going to end one way. It’s the same in any other form of business, if your outgoings exceed your incomings, you’re going to be in trouble if you can’t plug the gap.
“Unfortunately, those clubs had owners that couldn’t count – the EFL can’t legislate for that. But what they can do is enforce FFP properly and make sure they’re as tight as possible when it comes to who is running their clubs.
“So, the EFL have to enforce their rules and owners have to act responsibly. That’s the only way to prevent more things like we saw last week.”