Bolton administration – club to announce statement today

A report in the Mail Online,  published yesterday, stated that staff at Championship basement club Bolton Wanderers were in fear of their jobs amid the club’s supposedly worrying financial situation.

Bolton, who were relegated from the Premier League in 2012, find themselves four points adrift at the foot of the Championship table and in a state of financial affairs that has the Mail Online says has staff “actively looking for new posts.” The Mail Online also mention that the threat of the Trotters, “entering administration has been discussed by non-playing staff who now fear the worst.” Administration, should this materialise, carries a Football League sanction that would likely condemn Bolton to relegation to League 1, even at this early stage of the season.

It must be stressed that the club themselves, as per an article in The Bolton News, strenuously assert that administration talks are wide of the mark. Senior sources in the club, according to The Bolton News, say that administration isn’t an issue with the newspaper saying these sources stated, “unequivocally tonight that there are no job cuts currently being sought, nor plans to go into administration.”

Bolton manager Neil Lennon is nonplussed at the severe limitations placed on the club, the Northern Irishman admitting that he is somewhat in the dark over matters. Speaking the The Bolton News, Lennon said, “I’ve never been told why, it’s just a lack of revenue. There’s not a lot I can control.”

Bolton’s financial situation, exacerbated as the former Premier League team missed out on the revenue streams associated with playing in England’s top division, is startling with the club’s level of debt reaching an astronomical figures with The Bolton News saying, “Levels of debt have now risen to more than £180million, with the club confirming earlier this year that a short-term funding deal was agreed with a finance company in lieu of an overdraft facility.” However, despite the seemingly high levels of debt, chairman Phil Gartside said in the Mail Online that the club is continuing to move to a more solid financial level which was, “demonstrated by the club successfully meeting the financial fair play criteria.”

With this article being in the public domain through its publication in the Mail Online, The Bolton News “understands” that the club will be making an official statement regarding the substance and points that the article raises.

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