Football Ventures (Whites) Limited, the parent business of BOLTON Wanderers, announced group losses of £5.6 million for the fiscal year that ended on June 30, 2023.
Even though turnover increased by more than 40%, from £13.8 million to £19.4 million, the amount is still higher than the £3.69 million from the previous year.
In order to help pay for player acquisitions, capital projects, and enhancements to the sports science department, a bond was issued in the summer that raised £4.3 million.
Additionally, during the account reporting period, Wanderers received £2.75 million in capital from shareholders, with an additional £2.25 million added thereafter. This involved issuing the Swiss company BMLL two distinct share offerings.
Football Ventures (Whites) Limited, the parent business of BOLTON Wanderers, announced group losses of £5.6 million for the fiscal year that ended on June 30, 2023.
Even though turnover increased by more than 40%, from £13.8 million to £19.4 million, the amount is still higher than the £3.69 million from the previous year.
In order to help pay for player acquisitions, capital projects, and enhancements to the sports science department, a bond was issued in the summer that raised £4.3 million.
Additionally, during the account reporting period, Wanderers received £2.75 million in capital from shareholders, with an additional £2.25 million added thereafter. This involved issuing the Swiss company BMLL two distinct share offerings.
The club states that it has a “sound financial base from which to further improve the business” despite an increase in losses in the notes that go with the accounts, which were released by Companies House.
The statement continues, “The group is dependent on its shareholders for funding, and as such, funding has been and will continue to be made available from the shareholders when required.”
“The 2022/23 season proved progressive both on and off the pitch, as a playoff place finish along with increased revenue further strengthened the club’s financial foundations and future,” Wanderers chairman Sharon Brittan said in a statement posted on the team’s website.
“We are excited to continue this amazing journey together for the remainder of the 2023–2024 season.”
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