Bolton Wanderers are confident they will not face transfer embargo

Dougie Freedman

Dougie Freedman

First published in Sport The Bolton News: Photograph of the Author by , chief football writer

WANDERERS are confident they will not face any transfer embargo in the New Year over Financial Fair Play.

Dougie Freedman revealed yesterday the club have cut costs over the last 12 months which ensure they will not exceed the allowed £8million losses, as stated in FFP guidelines.

While the exact implications of the incoming controversial regulations are still unclear, it is expected that clubs who flout the rules will be imposed with an embargo from New Year’s Day.

Freedman is confident the recent austere measures put in place at Wanderers will ensure no penalties are imposed on the club this season but conceded that the cuts have taken a significant toll on his squad.

“On Financial Fair Play, we’re there,” he said.

“The problem is when we came down from the Premiership we were spending a lot of money on players’ wages on two or three-year contracts. That is not a good situation at all.

“When we were looking to send players out on loan clubs were only looking to pay their market value, not the fortunes they were earning here. And that meant when you were looking to replace them, you didn’t have the cash.

“Give or take one or two players I think they have now balanced that out, so if we sell players we should be able to bring people in.” Wanderers’ parent company Burnden Leisure posted massive £50.6m losses in their last set of last financial accounts, raising the level of overall debt owed to Eddie Davies to around £150m. They have since become a private limited company, which means the amount of detail available in their accounts – still available for a fee from Companies House – could be limited when they are next published.

They are expected, however, to show massive savings have been made, particularly on a wage bill that is now less than half what it was when the club were relegated from the Premier League just over two years ago.

The news follows a report in The Bolton News’ sister paper, the Lancashire Telegraph, which revealed an embargo is likely at Blackburn Rovers after parent company Venky’s posted annual losses of £9m.

Comments (12)

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8:31am Sat 30 Aug 14

Cynic_Al_14 says...

If we did face a transfer embargo, and faced a summer of not signing anyone.....would anyone actually notice?
If we did face a transfer embargo, and faced a summer of not signing anyone.....would anyone actually notice? Cynic_Al_14
  • Score: 20

9:30am Sat 30 Aug 14

White noise says...

Agreed, self imposed embargo! Never mind, this squad is easily good enough..............
...for Division One! Which will be a realistic destination if we don't actually sign some players.
Agreed, self imposed embargo! Never mind, this squad is easily good enough.............. ...for Division One! Which will be a realistic destination if we don't actually sign some players. White noise
  • Score: 7

10:42am Sat 30 Aug 14

Liamdog says...

BOLTON NEWS please stop reporting nonesense about FFD. Most fans are sick of the club hiding behind this. Not much chance of us being in trouble there having spent nowt! I can't understand other than interest charges to the club what Eddie Davies is thinking. While we are languishing with DF and co he won't see a penny back.
BOLTON NEWS please stop reporting nonesense about FFD. Most fans are sick of the club hiding behind this. Not much chance of us being in trouble there having spent nowt! I can't understand other than interest charges to the club what Eddie Davies is thinking. While we are languishing with DF and co he won't see a penny back. Liamdog
  • Score: 8

11:33am Sat 30 Aug 14

Stewart Ball says...

WE ALREADY HAVE A TRANSFER EMBARGO IMPOSED BY FREEDMAN.
THIS SQUAD IS NOT GOOD ENOUGH FOR DIVISION ONE
WE ALREADY HAVE A TRANSFER EMBARGO IMPOSED BY FREEDMAN. THIS SQUAD IS NOT GOOD ENOUGH FOR DIVISION ONE Stewart Ball
  • Score: 4

1:36pm Sat 30 Aug 14

Mick Schofield says...

Please can some one explain the economics behind BWFC. Eddie Davies has lent the club a huge amount of money on which presumably the club are paying handsome interest. No problem says Gartside because the assets of the club secure the loan - in effect it is as if the owner (or his business) own the club. So why does the owner prefer to lend money than invest capital in the club. Is it because he then is guaranteed an income from interest rather than depending on dividend which would only be paid if the business made a profit. Are these interest payments depriving the club of funds to spend on players. There is a suspicion that the club hiding behind FFP regulations and not being totally honest. I do not want to do an injustice to the owner - I just would like an explanation.
Please can some one explain the economics behind BWFC. Eddie Davies has lent the club a huge amount of money on which presumably the club are paying handsome interest. No problem says Gartside because the assets of the club secure the loan - in effect it is as if the owner (or his business) own the club. So why does the owner prefer to lend money than invest capital in the club. Is it because he then is guaranteed an income from interest rather than depending on dividend which would only be paid if the business made a profit. Are these interest payments depriving the club of funds to spend on players. There is a suspicion that the club hiding behind FFP regulations and not being totally honest. I do not want to do an injustice to the owner - I just would like an explanation. Mick Schofield
  • Score: 7

2:29pm Sat 30 Aug 14

Riggermortis says...

The problem seems to be that we have to sell to buy but no one wants our players dougie so which direction are we heading. Ffp is a smokescreen and our bent senior management team must love hiding behind it. Funny how no one else worry's about it and we cannot compete with teams like Brentford who now have Max Clayton on board. We are not all
Stupid supporters who will sit back and watch you destroy our club which I hope will be here when Davies gartside and freeman are history.
The problem seems to be that we have to sell to buy but no one wants our players dougie so which direction are we heading. Ffp is a smokescreen and our bent senior management team must love hiding behind it. Funny how no one else worry's about it and we cannot compete with teams like Brentford who now have Max Clayton on board. We are not all Stupid supporters who will sit back and watch you destroy our club which I hope will be here when Davies gartside and freeman are history. Riggermortis
  • Score: 1

5:28pm Sat 30 Aug 14

the hand says...

If Eddie Davis was such a big fan of the whites why is he allowing gartside and dougies to ruin what his money and big Sam built over ten glorious seasons I go to the matches now with a very heavy heart and still will what ever the division we are in but this hurts so **** much
If Eddie Davis was such a big fan of the whites why is he allowing gartside and dougies to ruin what his money and big Sam built over ten glorious seasons I go to the matches now with a very heavy heart and still will what ever the division we are in but this hurts so **** much the hand
  • Score: 4

5:29pm Sat 30 Aug 14

the hand says...

If Eddie Davis was such a big fan of the whites why is he allowing gartside and dougies to ruin what his money and big Sam built over ten glorious seasons I go to the matches now with a very heavy heart and still will what ever the division we are in but this hurts so **** much
If Eddie Davis was such a big fan of the whites why is he allowing gartside and dougies to ruin what his money and big Sam built over ten glorious seasons I go to the matches now with a very heavy heart and still will what ever the division we are in but this hurts so **** much the hand
  • Score: 1

11:00pm Sat 30 Aug 14

Walker fan says...

You can blame Gartside for falling out with Sam, and refusing to grant him money which was then handed to Megson and Coyle by the bucket load. Our club is absolutely clueless in the transfer market. We sold Eidur for 4 million. Within days Leicester purchased Akinbyi, remember him I doubt it, for 5 million. Cahill could have been sold to Chelsea for 13 million, but within months goes for peanuts. I could go on.
Now DF is struggling to balance the books after ridiculous salaries have been paid to journeymen.
No doubt ED's loans are secured on the assets of the company so if all fails he will not be losing.
We the supporters will be cast aside like straws in the wind.



Now
You can blame Gartside for falling out with Sam, and refusing to grant him money which was then handed to Megson and Coyle by the bucket load. Our club is absolutely clueless in the transfer market. We sold Eidur for 4 million. Within days Leicester purchased Akinbyi, remember him I doubt it, for 5 million. Cahill could have been sold to Chelsea for 13 million, but within months goes for peanuts. I could go on. Now DF is struggling to balance the books after ridiculous salaries have been paid to journeymen. No doubt ED's loans are secured on the assets of the company so if all fails he will not be losing. We the supporters will be cast aside like straws in the wind. Now Walker fan
  • Score: 0

12:46pm Sun 31 Aug 14

Say It As You See It says...

Look at Blackburns squad and look at ours. They have 2 strikers that could could get 20 goals a piece this season, We have 2 strikers that couldnt get get 20 between them. Blackburn have a goal scoring midfield who create chances, we have a midfield that struggles to connect 3 passes together, Blackburn have a decent defence, we have a defence that has not kept a clean sheet since 18th April 2014 (10 games, conceded 18 goals inc 4 against lower league opposition) Even if Blackburn get a transfer embargo, which team looks more likely to be challenging for the play off this season?
Look at Blackburns squad and look at ours. They have 2 strikers that could could get 20 goals a piece this season, We have 2 strikers that couldnt get get 20 between them. Blackburn have a goal scoring midfield who create chances, we have a midfield that struggles to connect 3 passes together, Blackburn have a decent defence, we have a defence that has not kept a clean sheet since 18th April 2014 (10 games, conceded 18 goals inc 4 against lower league opposition) Even if Blackburn get a transfer embargo, which team looks more likely to be challenging for the play off this season? Say It As You See It
  • Score: 0

1:20pm Sun 31 Aug 14

pendletrotter says...

How much interest will Eddie Davies receive, if the debt is over £150 million that will put us over the £8 million loss. Not bad business for a fan. Does anyone actually know how much capital he invested and how much of the debt is accumulated interest.
How much interest will Eddie Davies receive, if the debt is over £150 million that will put us over the £8 million loss. Not bad business for a fan. Does anyone actually know how much capital he invested and how much of the debt is accumulated interest. pendletrotter
  • Score: 0

2:03pm Sun 31 Aug 14

owencoyle99 says...

White noise wrote:
Agreed, self imposed embargo! Never mind, this squad is easily good enough..............

...for Division One! Which will be a realistic destination if we don't actually sign some players.
Good just vote for me again and I will take you to division one no problem
[quote][p][bold]White noise[/bold] wrote: Agreed, self imposed embargo! Never mind, this squad is easily good enough.............. ...for Division One! Which will be a realistic destination if we don't actually sign some players.[/p][/quote]Good just vote for me again and I will take you to division one no problem owencoyle99
  • Score: 1

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