What happened to Bolton Wanderers?
Barclaysmen. Think Jay Jay Okocha, Jussi Jääskeläinen, Ivan Klasnic, Fernando Hierro, the list really does go on. Nicolas Anelka, Kevin Davies, Kevin Nolan. The tenure of Sam Allardyce glistened with top talents, locking horns with footballing giants Bayern Munich and Atletico Madrid, a spirited charge to the 2004 League Cup Final, first class Premier League entertainment and… then it stopped.
European football faded into a distant memory as they traversed the football pyramid, but what really happened to Bolton Wanderers?
Between 2003 and 2007 Wanderers recorded consecutive top eight finishes, a record of consistency only bettered by the big 4 of Chelsea, Manchester United, Liverpool and Arsenal. Consistent European place challengers looked to be the ambition for Bolton Wanderers until long standing manager Sam Allardyce departed the club. After taking to the helm in the 99/00 season and guiding Wanderers to promotion to the top flight in just his second year in charge, things looked optimistic for Bolton. Over 300 games and eight successful years later, it was actually a lack of ambition from the Bolton Wanderers board that caused the rift leading to Big Sam’s departure.
The following five seasons didn’t hold much excitement for Wanderers fans, as bottom half finishes quickly became the norm. None of Sammy Lee, Gary Megson, Owen Coyle, Dougie Freedman or Neil Lennon were able to turn the tide and slowly but surely the downfall of Bolton Wanderers became apparent. With success on the pitch dwindling, the financial accounts for the 2010 period make for grim reading. Bolton noted a £35 million loss, plus a substantial and alarming increase to the net debt of the club amassing an eye watering £93 million following decreased turnover and an inflated wage bill from their former success.
After narrowly avoiding relegation in their first season in the Premier League, the board remained committed to Sam Allardyce. This proved to be a good decision as the 03/04 season saw Bolton Wanderers finish in their highest ever finish at the time, and reach the EFL Cup Final. Consecutive successful seasons as Bolton went on to finish 6th in the league in the 04/05 season earning qualification for the UEFA Cup which brought us some of those magical away trips. However, by the end of the 06/07 campaign Big Sam departed Bolton Wanderers Football Club amidst a lack of ambition and financial backing to help the club push for Champions League places.
Sadly this marked the beginning of a long standing downfall of one of the Football League’s founding members as Bolton Wanderers became accustomed to mid table obscurity for 5 seasons thereafter. It was around the same time that a concerning level of debt amassed bringing the net debt of the football club to a +£66 million compared to the £27 million pound net debt in 2005. A sour combination of deflated turnover and an inflated wage bill leaving the club with an 86% wages to turnover ratio, compared to 57% in 2005. The chairman at the time Phil Gartside bore significant responsibilities for a series of poor decisions during his tenure. Johan Elmander, a signing that left much to be desired amongst Bolton fans, costing the club £15 million pounds in transfer fees and wages before leaving on a free transfer just 3 years later, was one of many of those decisions that were questionable to say the least.
Relegation almost inevitably arrived for Bolton Wanderers on the conclusion of the 2011/12 season. Failure to return to the Premier League proved to be significantly damaging to the club, with parachute payments drying up, and the £180 million pound investments by former owner Eddie Davies, the club's debt was exponential. With Wanderers sitting on almost £200m of debt, sitting at the bottom of the Championship, the dreaded days of HMRC winding up petitions arrived in December 2015 due to unpaid taxes circa £2.2 million. On the pitch things were no better with Bolton on the end of a truly harrowing 17 game winless streak.
Times were trying to say the least until former Bolton Wanderers forward Dean Holdsworth and his Sports Shield company finally completed a takeover in March 2016 backed by a £4 million high interest loan. Neil Lennon, the manager at the time, was replaced by the academy manager Jimmy Phillips for the final games of the season. For the first time since 1993 relegation to the third tier of English football was confirmed as the club reached new lows unbeknown that even lower times awaited.
Phil Parkinson was appointed as the new first team manager and, on the first time of asking, promotion back to the championship was secured with a 2nd place finish with a transfer embargo making the feat all the more impressive. Unfortunately, as the on field performances gave Bolton fans a renewed sense of optimism, Ken Anderson became chairman, gaining 95% control of the club as a majority shareholder. The sales of Rob Holding and Zach Clough were advertised as attempts to regain control of continuous financial losses whilst cash flow remained a significant issue.
The 2018/19 campaign was, in every sense of the word, a nightmare season for the club. In what seems like a lifetime ago, Bolton Wanderers completed the loan signing of Christian Doidge from Forest Green Rovers. It was around this time the issues relating to the clubs finances became apparent following a row between Ken Anderson and Dale Vince over the unpaid wages of Doidge.
Unfortunately, poorly run football clubs are no stranger to English football and are almost a common theme amongst several across the divisions. The travelling fans who put miles in the tank, spend hundreds of pounds on tickets and travel, turn up in their thousands week in week out - they aren’t the ones to blame. There is a minority, but a concerning minority of people involved with football whose priorities are so far removed from the fans and the club, and who have no legitimate interest in the beautiful game but instead put money first.
In a dreaded ‘Note from the Chairman’ Anderson claimed
“I have of course seen this evening's Bolton News article and I am very disappointed that Stuart Wilson and Michael Henson of Blu Marble Capital Ltd have decided to reject my offer to repay the loan they originally made to the club through Sportshield Ltd and place the club in administration.
“The amount received by the club was £4m and l offered to repay this plus substantial interest. Unfortunately, this offer was rejected.“
As they come to understand and appreciate the consequences and repercussions of this action, l feel sure that they will live to regret their actions for what can only have been personal reasons as their actions do not make commercial sense.”
For most this was no more than a facade, a poor attempt to convince the fans that we were in good hands. From here marked a sad tale of decline and disarray of one of the founding members of the football league, who not too long ago were causing upsets in European competitions.
Anderson stopped paying the players’ wages, we want Anderson out rang around The Reebok, tennis balls made their way onto the field of play as part of a series of fan protests. The club nosedived to another relegation scoring just 29 league goals throughout the course of the season. By the end of the season, Wanderers failed to even fulfil their fixture list with a home tie against Brentford called off after unpaid players made the decision to refuse to play.
Administration and a 12 point deduction effectively ended the League One campaign before it had really started. A new ownership group was lined up but the takeover dragged into late August when ‘Az It Bin Dun’ became ‘Itz Bin Dun’. During this time frame though, things didn’t get any easier for Bolton Wanderers with only four senior players left to field. The youth of Bolton, now marked in history, stepped in and did their best. Phil Parkinson with very little options forced another abandonment protecting his youngsters, some just 16 -17, saying they could not be expected to play three games in a week due to concerns for their welfare.
The infamous Sky Sports countdown paraded by Jim White followed with Bolton Wanderers and Bury victims of despicable ownership pushing them to the brink. Wanderers were minutes away from meeting the same fate as Bury, liquidation. The end. But Sharon Brittan and Football Ventures provided light when Bolton Wanderers were completely surrounded by darkness. Despite relegation to League Two there was an undeniable sense of relief that at least their could be a League Two, and there could be a Bolton Wanderers, a sentiment some fans still hold today.
Ian Evatt replaced Keith Hill, despite his unequivocal knowledge of onions, as first team manager and this marks yet another turning point in this football club's 149 history, this time for the better. Bolton Wanderers were back, they were alive and kicking, albeit at the bottom of League Two. In a miraculous campaign Ian Evatt turned the ship around securing promotion for Bolton Wanderers, and after a season of security pushed Bolton Wanderers to the playoffs for two consecutive seasons. After narrowly missing out on promotion last season, Ian Evatt and his players have got their work cut out for them in a much tougher Sky Bet League One. Despite a poor start to the season for The Wanderers, do they have what it takes to make this year THE year?
