tag:blogger.com,1999:blog-487486960623783530.post8848909706428739066..comments2024-02-29T09:58:18.342+01:00Comments on The Swiss Ramble: Why Bolton Wanderers Have So Much DebtThe Swiss Ramblerhttp://www.blogger.com/profile/11423088862174893998noreply@blogger.comBlogger39125tag:blogger.com,1999:blog-487486960623783530.post-62695933637565087872016-10-25T14:26:57.605+02:002016-10-25T14:26:57.605+02:00This is a good article let down by a fairly fundam...This is a good article let down by a fairly fundamental misunderstanding illustrated in the following:<br /><br />'In short, it is, clear that Davies’ funding has been vitally important to the club, but it is equally clear that this is a commercial investment that has provided the owner with a healthy income stream during a difficult economic climate'. <br /><br />Leaving aside that a less attractive 'commercial investment'would be hard to find, how could interest that was never paid, never likely to be paid and never will be paid amount to 'a healthy income stream'?<br /><br />I believe the Swiss Ramble has made the mistake of following (with insufficient caution) similar earlier comments made by David Conn in the Guardian.<br /><br />Conn had also previously reported Brian Scowcroft's unjustified comments that Davies was 'a tax exile' and repeated them himself in the same article. <br /><br />But this is a total misreprentation of Davies and the characteristics of what a tax exile is. Far from taking his wealth offshore to save tax,Davies moved to the Isle of Man as a young man, made his fortune there,then spent it on the overpaid players and managers of BWFC (in whose hands very large chunks of Davies wealth will have been paid in tax.<br /><br />gudnibhttps://www.blogger.com/profile/18206333756703031739noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-75137804826585696402016-03-06T10:33:35.422+01:002016-03-06T10:33:35.422+01:005.25 years on and Davies has finally 'pulled t...5.25 years on and Davies has finally 'pulled the plug'. 11am tomorrow could see the Club enter Administration. Skygodhttps://www.blogger.com/profile/07270496811670237852noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-85491741504959454322014-06-15T20:22:57.700+02:002014-06-15T20:22:57.700+02:00What a silly comment.What a silly comment.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-34698757992875458062014-01-01T19:11:45.108+01:002014-01-01T19:11:45.108+01:00Just came upon this analysis since I am obviously ...Just came upon this analysis since I am obviously concerned about the recent financial news and where it could possibly lead. I think that much of the problem lies in BWFC thinking that they are a bigger club (financially) than they are. In a market driven by how much you have to spend to maintain your position small town clubs have very little chance of staying near the top for long.<br /><br />Buying Elmander (a disaster since he was bought to score goals) and Knight who never gave supporters any confidence regarding doing the simple things efficiently especially not either setting opponents up to score or scoring own goals, was probably the turning point in Bolton's fortunes. <br /><br />After the FA cup semi-final defeat against Stoke it all went downhill from there. A pity but having supported the Wanderers for over 60 years I have seen the ups and downs many times over. Let us hope that we still have a future.Coljonhttps://www.blogger.com/profile/12656520959593816483noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-10026719176332895682013-06-25T11:46:22.230+02:002013-06-25T11:46:22.230+02:00And to think Bolton are now in the championship. L...And to think Bolton are now in the championship. Lets hope they're back in the prem soon. Stafford and Cohttp://staffordandcompany.co.uknoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-46447745134795163732010-12-02T20:28:22.803+01:002010-12-02T20:28:22.803+01:00Great job, love this site.
Two quick questions......Great job, love this site.<br /><br />Two quick questions...<br /><br />1. Why doesn't the EPL have it's own TV channel in the US? Murdoch has tons of media in the US (Fox News, Wall Street Journal, Fox radio, Fox Sports, etc.) and he could easily install a 24/7 EPL network and since it wouldn't be contracted out through ESPN or Fox Soccer Channel (which he owns but also shows UEFA/Europe games, Serie A, La Liga and the Bundesliga) the EPL and Murdoch would make a ton more money. The Yankees did this in NYC sometime in the recent past, where every NYC resident pays like 1 dollar for the channel, but they make tons of money via commercials. I know in the US soccer is outside the top 5 most popular sports (U.S. football, basketball, baseball, hockey and auto racing (yuck)) but there are 300+ million of us.<br /><br />2. If you had let's say $300M to your name which team would you go and buy (if you wanted to buy a team and not a 200 foot yacht)? I would assume it wouldn't be a big 4 since they cost too much and you wouldn't want a team than has 100+ bigger neighbors (like Crystal Palace). I think the teams I'd look at are Portsmouth/Southampton (relatively separate from other teams, loyal base, big enough population), Middlesborough or maybe Birmingham (big city and 5 good years of football could move them past Aston Villa in suport), Obviously, I'm looking at just EPL teams and I'm sure there are better deals elsewhere but for language's sake I'm keeping it in EPL.KBhttps://www.blogger.com/profile/00140063912226053155noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-2118706900896588822010-12-02T10:53:11.382+01:002010-12-02T10:53:11.382+01:00@Leazes Terrace,
I would quite like to write abou...@Leazes Terrace,<br /><br />I would quite like to write about Newcastle - interesting for a number of reasons! However, I would prefer to wait for their 2009/10 accounts to be published, otherwise the review would be a bit outdated.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-46111227813931686622010-12-02T10:50:20.555+01:002010-12-02T10:50:20.555+01:00@Dan,
Thanks. Saw that already - at one stage the...@Dan,<br /><br />Thanks. Saw that already - at one stage the blog was #1 on the list! In any case, I appreciate you bringing it to my attention.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-18555552971944957452010-12-01T23:38:25.231+01:002010-12-01T23:38:25.231+01:00@swiss
I pick up most of your stuff from Twitter ...@swiss<br /><br />I pick up most of your stuff from Twitter but got this one via The Guardian "Our favourite things this week". You were #4 on the list I think.<br /><br />Absolutely stellar stuff as alwaysDannoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-49977844406260863742010-11-30T11:58:31.948+01:002010-11-30T11:58:31.948+01:00Just thought I'd say great article, always a s...Just thought I'd say great article, always a sucker for some good stats and figures.<br /><br />As a Newcastle United fan, it would be interesting to see something on how being relegated affected the club financially (obviously it would be bad), what they did and by how much did they cut expenditure, the type of income they had compared to other Championship teams and even Premiership teams. How being promoted has impacted the finances.<br /><br />Also, I wonder what will happen to Middlesbrough this season if they don't get promoted (which is looking very likely), are they in danger of going under?Leazes Terracehttp://www.leazesterrace.comnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-48858822605723753172010-11-29T18:32:12.716+01:002010-11-29T18:32:12.716+01:00@Mustafa Akkaya,
The Sunday Times Rich List does ...@Mustafa Akkaya,<br /><br />The Sunday Times Rich List does not provide all the details behind Edwin Davies' estimated net worth of £65m, so unfortunately we cannot be certain of how this is calculated, but that does not detract from the key point, which is that it would not be easy for him to increase his loans to Bolton, so the club will have to improve its financials or seek alternative forms of credit.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-38263731083424381912010-11-29T15:34:53.401+01:002010-11-29T15:34:53.401+01:00How can it be possible while the club owner's ...How can it be possible while the club owner's net worth is 65m £, he can lend the club 85m £?Mustafa Akkayahttps://www.blogger.com/profile/06908853309210698994noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-12124877721277569902010-11-29T11:57:17.840+01:002010-11-29T11:57:17.840+01:00@Anonymous (11:37),
In my defence, all of the poi...@Anonymous (11:37),<br /><br />In my defence, all of the points you made in your comment were covered in the post. Not sure what additional insight you have provided?The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-26635893187734695192010-11-29T11:37:10.172+01:002010-11-29T11:37:10.172+01:00Thanks for the post.
There is a lot of informatio...Thanks for the post.<br /><br />There is a lot of information there but not enough insight. Its easy to read balance sheets but not so easy to read the future.<br />The main point I would make is that most of the investment has been in bricks and mortar and players, the overall trading losses are manageable. Because of the way amortisation works losses tend to be exaggerated in the early years of players contracts and much of this is reflected in the figures as Megsons expensive signings have dominated the last two seasons accounts. <br />Because of the poor management appointments of Lee and Megson we have had virtually 3 squads of players at the club over the last 3 years, Allardyce's, Lee's, and Megsons. This has cost millions to clear out and this hasn't yet ended. We have 8 players out of contract this summer.<br /><br />I am very optimistic about the clubs future both financially, as the problems of 2007-9 work their way through and Coyle starts to build his own squad. Improvement on the field will lead to an improvement off it.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-81896762668414079712010-11-28T20:58:56.403+01:002010-11-28T20:58:56.403+01:00Hi,
Just discovered your blog. Fascinating reading...Hi,<br />Just discovered your blog. Fascinating reading (for anyone who's not a Boltonian I suppose), thank you for a great piece.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-22228370690201861092010-11-28T16:56:59.281+01:002010-11-28T16:56:59.281+01:00@Anonymous (4:36),
I found details of the 188BET ...@Anonymous (4:36),<br /><br />I found details of the 188BET shirt sponsorship deal in the Financial Times (May 2009). Link is below, though you might have to register to see it:<br /><br />http://www.ft.com/cms/s/0/fc60393c-430a-11de-b793-00144feabdc0.html<br /><br />You're right that the overseas TV deals have been increasing apace, but that does not mean that this will happen in the future. It may well do, but, as a technical analyst mate of mine always says, "the trend is your friend - until the bend at the end."The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-70412590435679603892010-11-28T16:36:00.155+01:002010-11-28T16:36:00.155+01:00Fascinating. Are those 188BET sponsorship deal amo...Fascinating. Are those 188BET sponsorship deal amounts made public? I can't recall seeing them announced by the club(s).<br /><br />And surely total EPL TV deals value will continue going up - the overseas are in steep ascent, so even if the domestic values plateau, the trend is up. The market is far from saturated with only a third or so of games screened live at the mo within UK. The option is always there to increase that.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-87039182035126939962010-11-28T16:35:53.787+01:002010-11-28T16:35:53.787+01:00@Anonymous (1:46),
Yes, I've had a few reques...@Anonymous (1:46),<br /><br />Yes, I've had a few requests to write about Valencia and Villarreal among others. Might do that some time in the future.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-12961512553907557572010-11-28T13:46:41.109+01:002010-11-28T13:46:41.109+01:00@Swiss
Have you ever considered to write about th...@Swiss<br /><br />Have you ever considered to write about the chaos in Spain: Atlético Madrid, Valencia,...? That would be truly awesome.<br /><br />Cheers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-76028912396305940482010-11-27T02:54:10.566+01:002010-11-27T02:54:10.566+01:00Arsenal fans,
Please read this new blog that is q...Arsenal fans, <br />Please read this new blog that is quickly becoming popular: <br />http://arsenesarmy.blogspot.com/ <br /><br />If you like it then please follow me on Twitter: <br />http://twitter.com/ArsenesArmy <br /><br />And on Facebook: <br />http://www.facebook.com/pages/Arsena...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-38072521407566684732010-11-26T12:52:35.586+01:002010-11-26T12:52:35.586+01:00What a thoroughly fascinating, intelligent, well r...What a thoroughly fascinating, intelligent, well researched article. This is an excellent site, well done and keep up the great work!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-41283169594557961762010-11-26T04:49:14.556+01:002010-11-26T04:49:14.556+01:00Fantastic article. As a Bolton fan I am quite imp...Fantastic article. As a Bolton fan I am quite impressed in the improvement in the club's performance on the field, but the financial situation is still a bit scary. Hopefully on the field success will boost attendance, get Bolton games on SKY more frequently and increase shirt sales.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-66845643823795151982010-11-25T14:41:59.524+01:002010-11-25T14:41:59.524+01:00Great read. As Gartside said, the remainder of the...Great read. As Gartside said, the remainder of the deadwood in the squad contributes to £8m of total salaries so I'm looking forward to seeing the back of them.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-70435677797134037082010-11-25T13:45:53.955+01:002010-11-25T13:45:53.955+01:00@pillbo,
Yes, it is certainly possible that the f...@pillbo,<br /><br />Yes, it is certainly possible that the financials could improve (more TV money, lower wages), though it is debatable whether the club can reach break-even in the short term.<br /><br />It will be interesting to see whether success on the pitch and attractive football can bring in the crowds (and more commercial opportunities), as this would help the finances - and reduce the reliance on: (a) TV money; (b) Edwin Davies.The Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.comtag:blogger.com,1999:blog-487486960623783530.post-4579711873225867852010-11-25T13:40:46.665+01:002010-11-25T13:40:46.665+01:00@Anonymous (12:14),
I wrote a piece about Everton...@Anonymous (12:14),<br /><br />I wrote a piece about Everton in April, though this was before I worked out how to import graphs and spreadsheets. You can find it here:<br /><br />http://swissramble.blogspot.com/2010/04/why-has-nobody-bought-everton.htmlThe Swiss Ramblerhttps://www.blogger.com/profile/11423088862174893998noreply@blogger.com