Relegation is a big loss not only to the fans but to the club as well when speaking financially. The drop alone means a £25 million loss from TV revenue alone. Then you have the loss that comes from reduced gate turnover as we can most definitely expect lower attendance numbers in the Championship. As a result, Bolton will be forced to cut their wage bill down, by a lot.
In the fiscal year of 2011, Bolton's wage bill was an astronomical £56 million. Sure that doesn't compare to the likes of Arsenal, Liverpool, Manchester United, and Manchester City etcetera, but for a club in Bolton's position (who make only about £60 million from football), that's a hell of a lot. Bolton will get rid of players as they already have done in the cases of Mark Connolly and Ivan Klasnic with a number of others set to go.
Bolton have the likes of Sean Davis, Robbie Blake, Ricardo Gardner, Zat Knight, Gretar Steinsson, Paul Robinson and others on their books. Many of these players were brought in under Gary Megson with very high contracts promised to them for very average performances.
Speaking to the BBC, Bolton Wanderers Chairman Phil Gartside said:
"If you look at our wage bill this year compared to what it was last year, allowing for a couple of people to come in, it will be up to 50% of what we paid out last year,
"That flexibility is essential when you are going to lose £25m of revenue. You've got to dust yourself off and get on with life. It's not the end of the world - we've got a plan and we'll implement that plan.
"This was always going to be a year when we restructured the club. Owen put a plan together 18 months ago that he wanted to reduce the age of the squad because he felt there were some older players in the squad that were going to come to the end of what were great careers, and he wanted to put something in place that was sustainable.
"We've had an academy for over 10 years and we never produced a boy from the local area from the age of seven that came through to the first team, and that has changed this year.
"We have got two boys who have made their debuts in Joe Riley and Josh Vela, both exciting players capable of playing first-team football, and we have got five or six other boys in the academy who are just as good, who are on the fringe of breaking in. That is a great achievement."