An estimated debt of £30m at Bolton Wanderers could halve if a £15m loan to former owner Eddie Davies does not have to be paid back. £171m of Davies’ original loan of £186m has already been written off. When Davies was the club benefactor he was putting in £15m-£18m a year.
When such largesse from a benefactor is no longer available, a club faces cold turkey. Bolton’s big challenge now is to reduce a big wage bill resulting from high cost players.
An estimated debt of £30m at Bolton Wanderers could halve if a £15m loan to former owner Eddie Davies does not have to be paid back. £171m of Davies’ original loan of £186m has already been written off. When Davies was the club benefactor he was putting in £15m-£18m a year.
When such largesse from a benefactor is no longer available, a club faces cold turkey. Bolton’s big challenge now is to reduce a big wage bill resulting from high cost players.