Premier League and general features > Premier League club finances

Thurs 11th Nov-Bolton put Cahill up for sale as debts reach £93 million

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trophy4toon:
Of course they could just pay salaries they could afford to the players.

Then if everyone did that there would not be a problem.

£15 million for Cahill, blimey, the world has gone crazy !!!


--- Quote ---Gary Cahill is yours for £15m! Bolton put Manchester United, Arsenal, Liverpool and Tottenham on alert as debts near £100m
By Sportsmail Reporter
Last updated at 4:01 PM on 11th November 2010
Comments (21) Add to My Stories
 Towering Trotter: Cahill climbs above Liverpool's Fernando Torres
Bolton Wanderers are ready to cash in on star defender Gary Cahill after revealing their debts had risen to £93million.
The in-demand England defender has been tracked by Manchester United, Arsenal, Liverpool and Tottenham over the last 12 months and Bolton chairman Phil Gartside admits he can no longer resist an offer.
After announcing annual losses of £35.4m - more than double the figure of 12 months ago - Gartside admited he may also have to sell in-form Johan Elmander when the transfer window reopens in January.
The Sweden striker, who was signed for £8.2m from Toulouse in 2008, is out of contract in the summer and at risk of walking out for nothing. Both Spartak Moscow and Fenerbahce are interested in the 29-year-old.
But Bolton fans will be most concerned about losing 24-year-old Cahill, who has once again impressed at the back during the club's impressive rise to sixth in the table this season.
'If a Champions League team knocks on our door in January thatís the best time to sell an asset because Champions League teams will pay the money,' Garside, who is looking for about £15m, told Bloomberg.
The Reebok Stadium chief, who is also a long-serving FA board member, has called for limits on Premier League playersí wages.
 Swede surrender: Elmander (left) looks set to leave Bolton either in January or at the end of the season
 Concern: Bolton chief Gartside
'Owners should be allowed to invest in equity,' he said. 'So if you, as an owner, want to buy a striker for £10million that shouldnít be a problem.
'But what you then canít do is pay him extortionate wages that take you out of the break-even situation.
'We are carrying too many on the wage bill. To be fair, nine players are out of contract in the summer, within them heavy earners, and weíll decide if we want to offer them new contracts.
'I think (Premier League chief executive Richard Scudamore) is concerned as much as anybody about the financial state. We keep upping the income and we keep losing more money. Itís ridiculous.'
Boltonís financial position is not as precarious as was Portsmouthís when they went into administration owing more that £120m because the Wanderersí owner Eddie Davies is owed the bulk of the debt.
But on Elmander, Gartside admitted: 'Heís out of contract at the end of this season and again if someone knocks on the door in January then thatís obviously a consideration we have to make.'


Read more: http://www.dailymail.co.uk/sport/football/article-1328699/Gary-Cahill-sale-Bolton-alert-Manchester-United-Arsenal-Liverpool-Tottenham.html#ixzz14zuSL8Sv
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