EVERY Wanderers fan has a theory on where ‘it all went wrong’ for the club – be it in the boardroom, in the dugout or on the pitch.

Although I’m chuffed to say things are looking up now under Phil Parkinson, the enquiry into why Bolton went from the cusp of the Champions League with Sam Allardyce to the third tier of English football will fill pages for many years to come, I’m sure.

Many bad decisions contributed to the downfall and many could have been avoided or at least handled better. But it struck me just recently how much talent has been lost at this club to plan, old-fashioned bad luck.

When Mark Davies chased into the corner to close down a defender at The Valley last weekend, I knew instantly from the way he tumbled to the turf that something was up. I’d seen it so many times before.

These days opposing fans tend to mock any player who stays down too long but you can tell the most serious cases when the crowd falls silent, almost out of respect.

Sparky, as everyone calls him at Wanderers, has been there before, of course. And I wonder where his career would have taken him had it not been for the two serious knee injuries he had suffered before last weekend. This, a third, on his other knee, is immensely worrying.

The young midfielder who tore strips off Tottenham on his debut several years ago, and who former Wanderers assistant Chris Evans tipped for England honours, was a sight to behold. I hadn’t seen anyone carry a ball at such speed since Paul Gascoigne.

Of course, time and injuries took their toll and Davies never quite progressed into the player we hoped he would be – but there is still something magical about the way he can grab hold of a game.

Yes, he has been paid a handsome wage from Wanderers, and, yes, the days when they can afford such luxuries are behind them for now. But to see Davies bow out on a stretcher on the final year of his contract was upsetting and I only hope he manages to make a full recovery.

How many millions of pounds’ worth of talent has gone that way for the Whites?

Stu Holden had it all. At the point his career was effectively wrecked at Old Trafford in a terrible challenge by Jonny Evans, there was no better midfielder in the Premier League. Manchester United knew that – they watched him enough times – and though it would have been difficult to keep him, the American was destined for big things, in my humble opinion.

So much has been written about Fabrice Muamba and the night his career ended at White Hart Lane. Such was the miraculous nature of his recovery after going into cardiac arrest we sometimes forget Wanderers lost an incredibly talented young footballer too.

I am thankful to still call Fabrice a mate, and happy to see he has found peace after his playing career, but in my most selfish moments I wonder just what could have been had Muamba and Holden been able to continue their partnership in the heart of Owen Coyle’s exciting team at the time?

They are by no means the only examples. Sean Davis, another gifted midfielder, had been brought in by Gary Megson as a key component of the team he was building. The horrific knee injury he suffered just a few games into his Bolton career meant we never saw that plan unfold.

I’m convinced Marc Tierney would have been exactly the right character for the battles to come had his career not come to an end in a game against Yeovil a couple of years ago.

The Salfordian full-back was a scrapper, and would have been right down Neil Lennon’s street. Sadly, he is another good bloke who joined the list of footballers who have lost their livelihoods as I looked on from the press box.

I dearly hope Davies isn’t added to this list and can come back – at Bolton, or anywhere else for that matter – to play the game he loves again. I suppose injury is an occupational hazard for footballers, who know their job is a short one when they sign up. But every player should get the chance to go out on their terms.