David Conn of the Guardian has tonight written about the state of Championship club finances, including of course that of the mighty Bolton Wanderers:
Owned by the Isle of Man businessman Edwin Davies via Fildraw private trust company, registered in Bermuda.
£35m - Highest in the league
£37.4m - Highest in the league
Wage as a proportion of turnover
£792,000 paid to 6 directors; £408,000 the highest
Loss before tax
State they're in
Spectacular £50.6m loss in the first season after relegation, despite parachute payments.
Bolton's 1997 move to the Reebok stadium was accompanied by building a hotel and plans for diverse earnings which would subsidise the club to compete above its natural level.
Premier League wages then soared, though, and Bolton have made massive losses. They are supported by Edwin Davies, the kettle element manufacturer whose loans were up to a staggering £151m.
Davies charged £7m interest and other fees in 2012-13, but now charges no interest.
So as we knew, things are stark at the club.
The newspaper's analysis of the most recent accounts of clubs in the division shows that they combined owe a massive £1billion.
The division's severe difficulties are of course caused by the immense financial difference between the Championship and the wadded Premier League, which means promotion, which leads to the division Play Off bein termed as the 'richest game in football' worth at least £120m to the victor.
In a quote from the paper, Shaun Harvey, the Football League's chief executive, pointed out this means that the winner will receive the same from one season in the Premier League as "from playing in the Championship for the next 30 years".