Wanderers cut losses but debt up to £172.9m

CHAMPIONSHIP football club Bolton Wanderers have announced a loss of £9.1m for 2014, taking is overall debt up to £172.9m.

The net figure is a significant improvement of £41.6m from £50.7m in the last set of results.

Staff costs have fallen £9m because of a number of players who have left the Macron Stadium club, which ended an 11-year stint in the Premier League with relegation in 2012.

“There is no doubting the transition to the Football League has been a challenging one,” said chairman Phil Gartside, who also paid tribute to the club owner, Eddie Davies to whom most of the debt is owed.

“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.”

Wanderers are currently 17th in the table, 10 point above the relegation zone and are managed by former Celtic boss Neil Lennon.