Subject to Football League approval, the takeover of Bolton Wanderers by the Sports Shield consortium headed by Dean Holdsworth has been completed. He has yet to make investment promises or identify his backers.
Subject to Football League approval, the takeover of Bolton Wanderers by the Sports Shield consortium headed by Dean Holdsworth has been completed. He has yet to make investment promises or identify his backers.
The Financial Times suggests that Bolton’s ‘story illustrates the increasing difficulty of operating a football business outside the confines of the Premier League.’ The Pink ‘Un argues that ‘Bolton’s story is a familiar one. A once mighty club hits the heights of the Premier League, spends more that it can afford to stay there, and struggles as television revenues slip away faster than it can cut its wage bill.’
Analysis by Deloitte shows that in 2013/14 Premier League clubs generated record operating profits of £634m with 19 of the 20 clubs in the division recording an operating profit. In the Championship only three clubs of 22 made an operating profit that season, and the majority paid more in wages than they received in income. Only five had net assets, rather than liabilities.
Professor Phil Wilson of the University College of Football Business told the Pink ‘Un that many club owners need to manage expectations and preserve the club for future generations. However, that is easier said than done. Fans demand success and soon find scapegoats if it is not achieved.