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Bolton Wanderers Have Released Annual Statutory Accounts Details

Net losses slashed.

Jamie McDonald/Getty Images

On the surprisingly bold date of April Fool's Day, Bolton Wanderers have released details on the club's annual statutory accounts for the financial year ending June 2015.

Net loss has been impressively improved by £41.6 million, now standing at £9.1m, compared to £50.7m just a year ago. However the dreaded net debt did rose to £172.9m.

With staff costs also down by £9m, and with the Bolton News predicting that the wage bill is likely to now stand at £28.4m after some of the club's biggest earners were sold, things are certainly looking better than they did 12 months ago.

The financial report also takes the club's complete purchase of the Bolton White's Hotel into account, as it was previously a joint venture with De Vere Venues.

Chairman Phil Gartside said:

"There's no doubt that the transition to the football league, following a sustained period in the Premier League, has been a challenging one."

He continued:

"Eddie Davies continues to provide a humbling level of support to the football club, and as a wider business we are continuing to develop our non-footballing operations. We continue to move to a self-sustained future, demonstrated by the club successfully meeting the financial fair play criteria."