clock menu more-arrow no yes

Filed under:

Wanderers Chairman Discusses Club Debt

New, comment

Debt, what debt?

Chris Brunskill

In an interview with Sky Sports, Bolton Wanderers chairman Phil Gartside was challenged on the club's often-discussed debt problems.

He claimed that the club's level of debt is not a cause for concern, despite financial results showing that the club is in debt to the tune of nearly £165m.

The chairman went on to say that the majority of the debt is to the club's owner Eddie Davies (and his company Moonshift Investments) and should be considered as equity in the company.

Gartside told Sky Sports News:

"Every time we're mentioned in the press it's alongside the fact that we've got a lot of debt,"

"I keep repeating again and again that the debt is to the owner and is really equity - it's no different to what people have done at Chelsea and other places.

"Eddie's been a great benefactor to Bolton Wanderers over a period of 15 or 16 years and we are fortunate in that we own every asset and we have very little bank debt."

He also went on to shower manager Dougie Freedman with praise for his pragmatic approach during his time at the club.

"I like the way he's worked in the last couple of years and we have a good relationship,"

"He knows the situation and he's good at handling finances - he's a businessman as well as a football manager and we're privileged to have that. I'm looking forward to working with him for quite some time."