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Bolton Wanderers report debts of £172.9m

Bolton Wanderers debt is £172.9m after losses of £9.1m for the financial year.

Net loss has improved by £41.6m and staff costs have reduced by £9m due to a number of players leaving.

The club which owes the majority of its debt to owner Eddie Davies, was relegated in May 2012 ending an 11-year stint in the Premier League.

Chairman Phil Gartside said: “There’s no doubting that the transition to the Football League, following a sustained period in the Premier League, has been a challenging one.

“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 towards a self-sustainable future, demonstrated by the club successfully meeting the Financial Fair Play criteria.”

This was posted in Bdaily's Members' News section by Sophia Taha .