BWFC Guest Post: Cha-Ching!
I thought I'd honour Mike's passion and concern for the financial situation of Bolton Wanderers by posting his comment on the subject.
If you want to continue talking 'money', I'll make this article 'sticky' so you can carry on the conversation...
I won`t harp on about the debt for fear of upsetting my co writers, but I note that 2 blokes who could not be trusted to manage the family shopping bill, or organise a knees up in the brewery- enter our chairman and owner- are very well looked after.
I previously claimed Mr Gartside took £500,000 a year from the club - well I was wrong. In 2010, Gartside paid himself £740,000 and our owner`s takeaway was only the cost of a round of drinks behind him - they even had the brass nerve to pay each other a £170,000 bonus! For what?
It seems an easy task to place figures on the official accounts, I am personally more interested in knowing what a forensic audit of the accounts would show- as the figures themselves always look dodgy. Eddie Davies does not emerge smelling of roses. He takes £5 million a year in interest alone, while the debt owed to him magically increases at an alarming rate each year with little if any explanation given.
If I did not know better, which I don't, I fear the duo are screwing this club while patronising supporters in the meantime.
Eddie and Phil seem to be lining their pockets while displaying reckless financial management year on year. Prudence and astute football mindedness does not appear on their radar - give them £60 million a year and they spend £80 million; even my granny knows to put a little away for a rainy day. Well the rain clouds have truly gathered and we await the storm. But what the heck - we cannot change anything, the new season beckons, lets forget our financial troubles, there are much easier things to talk about - then again, I am not a paid up member of the Bolton Wanderers` gravy train, nor do I wish to be.