Where are finances leading English Football?

Good evening all. I apologise for taking a while in writing a new post. I’ve been avoiding the internet since wednesday, as i couldn’t watch the Everton-Bolton game until today (Friday). To any new readers, I’m a Bolton Wanderers fan, I just, usually, chose to write about a variation of topics regarding the English game.

Phil Gartside has announced Bolton Wanderers to have debts of £93million.

Today, however, I will base this post primarily on Bolton, but also on football in general.

I was going to comment on the finances. So, Bolton Wanderers chairman Phil Gartside has come out and said we are now £93million in debt. It is obvious that, even with no spending at all, it will take 3-4 years to completely rid us of the debt. So, a club the size of Bolton is, unfortunately, stuck with the debt.

I will carry on with the article after this next paragraph, it’s just that to keep myself from despair I have to remain positive in this, so we don’t end up going down the same route as Portsmouth FC.

I don’t think that we are in as bad mess as first thought. There will be no need to sell Cahill in January, and even if he does go, Ricketts and Knight have been more than sufficient cover previously. The only money I can see us bringing in in January would potentially be from Ali Al Habsi. Cahill may go in the summer,  then with around 7 players out of contract we will have a smaller squad, and thus smaller wage bill. Plus next season tv rights, which (and whisper this quietly) may be increased from a top 10 finish..?

Ok, so back to English football in general, like I promised.

Bolton Wanderers - soon to go down the league due to debt?

Portsmouth, Norwich, Southampton, Oldham and Charlton all have one thing in common. They were considered Premier League regulars before they were relegated. They were then in some form or other of financial melt-down and have not been seen in the Premier League since. Most of them have even featured in League 1, if they are not there now.

Clearly, the fate of these clubs, and possibly soon my Bolton Wanderers indicates that something needs changing in the finances of the modern game. Clubs the size of us simply can’t afford top players wages, so are now forced to be attempting to avoid relegation every season with around 10 other clubs. This would lead to one possible solution; a salary cap. However, we could end up with players causing Wayne Rooney-style tantrums.

Does the English Premier League need to review its financial state?

Another solution that has been mentioned a lot is possible sending the bigger teams off on some form of European Super League. I’ll tell you now, I don’t think this would be a good idea, as the English Premier League would lose it’s only real connection with the country these days, the fact that it is played in England. It would be like the Game 39 idea..

So, it is rather obvious that something needs changing regarding the financing of English football. However, the trouble with the majority of solutions is either that it would be unfeasible, or that they would lead to the bigger teams and players losing the plot.

I’m going to try something I haven’t done before in this post. I’m going to try putting a poll in this post. Please vote, and comment on what you said and why you said it.

Thank you.