'Something has to be done' - Bolton CEO call for Premier League to revive talks

Wanderers CEO Neil Hart would love to see a breakthrough in talks between the Premier League and the EFL over a new funding deal – but admits he isn’t holding his breath.

With official plans for an independent football regulator put before parliament this week, there is more pressure than ever for the two parties to reach an agreement before government intervention.

EFL chairman Rick Parry said the introduction of a regulator could help “fix football’s broken financial model” but there are also fears that legal challenges could drag out the process.

Hart, who worked in the top-flight at Burnley, can understand the unwillingness of some Premier League clubs to increase the amount they already distribute to the lower divisions because of the overspending which has occurred – particularly in the Championship – for many years.

The turnover gap – according to Parry – has now reached £3bn, with the EFL’s turnover just six per cent of that in the Premier League.

“There is a clear disparity between two,” Hart told The Bolton News. “And I do hear what some of the Premier League clubs are saying – but ultimately I draw back to the point that there is a huge amount of wealth at the top of the game.

“We have seen transfer deals go up, broadcast deals heading north in value, we see player wages getting higher and higher, and it makes it incredibly difficult for clubs like Bolton in League One.

“Something has to be done about the funding distribution models but probably some of the spending as well. It isn’t for the Premier League to just write cheques for the EFL clubs to spend more on players, to have a go, there has to be cost controls around that.

“But ultimately the game at this level does need a little more support. All the money is at the high end of the game. We have to view it as a pyramid not just the Premier League going off and doing their own thing with three clubs swapping places every year, that isn’t what the competition is about.”

Wanderers left the Premier League in 2012, just before the ‘boom’ in broadcast revenue and though they did have access to parachute payments, their first being worth £15.7m, much of the money was swallowed up with debts. Southampton, relegated from the Premier League last season, stood to received just over £30m this year in their first instalment.

The so-called New Deal is worth around £900m over a six-year period but has failed to gain the necessary 14-club mandate to be passed, much to the frustration of many in the EFL.

“When you look at Bolton, we have spent more time in the Premier League over the last 30 years than half the clubs in the Premier League right now,” Hart said.

“It is about the collective and I wish they could find a way of coming together and addressing that in a positive way, shift the balance a little bit. But I have to admit, it looks a little way off yet.

“I knew what Burnley were getting from the broadcast deal but when I came here a few years ago I was shocked by what Bolton got. I was flabbergasted.

“EFL clubs need help and the numbers which have been suggested in the New Deal would go a long way to addressing some of those issues.”

Hart has discussed this week how owner funding is still a vital requirement for Bolton as they look to push towards the Championship. Two fully-funded plans are in place for next season, with or without promotion.

Wanderers have made huge gains on their commercial revenue over the last couple of years but still require the injection of funds from the ownership to keep it running competitively.

Hart, who leads the day-to-day operation at the Toughsheet Stadium, admits it has been tough going but believes the finances of the club are in good health regardless of the New Deal.

“I will say being chief executive of this club is 100 times harder than it was at Burnley, even with it being during the Covid period,” he said.

“It is so much more challenging, financially, managing cash flow, suppliers, stakeholders, trying to drive revenue, work with all the various areas in the club to make sure we are on budget, we’re focused on ticketing, retail, sponsorship, communications, all the areas that bring revenue. Every single pound counts.

“The Premier League and the EFL have to find common ground, now clearly the Premier League hold the cards here but it will be interesting to see what they are prepared to give.

“The interesting point now is the regulator and what role they will play in this. We all knew it was coming and the government have said they will have the powers to intervene.

“By the end of the year I suspect we will see what it means. The final thing I will say is that it won’t be straightforward.

“We are in good shape. Our finances, our shareholders, our investors, it is better than it has ever been. I am confident in what we are doing – with or without the New Deal we will continue to be competitive.”

Source

Wanderers left the Premier League in 2012, just before the ‘boom’ in broadcast revenue and though they did have access to parachute payments, their first being worth £15.7m, much of the money was swallowed up with debts.
The club were relegated in 2012 as we all know The rest, as ever with Iles, is total bullshit. He plainly can't read a balance sheet so where does he keep getting it from?
The ST, Kieran Maguire, or the Barmy Baronnesses

Ten Bobsworth wrote:Wanderers left the Premier League in 2012, just before the ‘boom’ in broadcast revenue and though they did have access to parachute payments, their first being worth £15.7m, much of the money was swallowed up with debts.
The club were relegated in 2012 as we all know The rest, as ever with Iles, is total bullshit. He plainly can't read a balance sheet so where does he keep getting it from?
The ST, Kieran Maguire, or the Barmy Baronnesses

Probably from a Business Consultant who has three sets of accountants working under him...

Sluffy wrote:

Probably from a Business Consultant who has three sets of accountants working under him...

Lusty is Lusty but Iles is summat else. It’s not just about being unable to read a balance sheet everything he ever contributes on BWFC finance is totally deranged and entirely based on mindless historic grudges. No surprise that Eddie would have nowt to do with the poisoned numbnut.

Ten Bobsworth wrote:

Sluffy wrote:

Probably from a Business Consultant who has three sets of accountants working under him...

Lusty is Lusty but Iles is summat else. It’s not just about being unable to read a balance sheet everything he ever contributes on BWFC finance is totally deranged and entirely based on mindless historic grudges. No surprise that Eddie would have nowt to do with the poisoned numbnut.

Fwiw I'd look at that in a different way, in that Iles admits to not knowing anything about the financial side of things - I'd even hazard a guess that Mrs Iles is the one who has to deal with the bills and budgets in their household - so Iles only regurgitates what others tell him - mixed in with a bit of personal hatred from him of Anderson.

Whereas Wanderlust is fully convinced he knows what he is talking about on finance - and time, after time, after time, he clearly demonstrates that he doesn't!

I've never known Iles to lie or try to bluster his way out of being proved wrong - but Wanderlust does it every single time - even the one above where he simply can't refute what I've said because the source is BWFC's very own Ian Hart, the CEO himself confirming what you and I have been saying all along - (and he's seen the books!) - so Wanderlust simply lies or tries to wriggles out of admitting he was ever wrong, in this instance by changing the subject to personally abusing me instead.

He's done this so many times to me over the years that I can read him like a book.

Not one I would recommend though!

I therefore have far more tolerance with Iles who is (or has) been misled - and will admit to such when errors in what he states are pointed out - but none with Wanderlust who also frequently misleads others too - BUT lies or tries to hide that that fact when he is similar shown to have been wrong in his claims and assertions.

What more proof should anybody need other than Hart himself stating that break even is impossible - ie the club is running at a loss each and every year and accruing more and more debt to service each season upon season- exactly what we've been saying all along?

I'm sure we can agree, Sluffy, that Lusty is a bit of a loon but to little effect, unlike the chubby-cheeked, clueless clot with his following of slow-witted Beeno readers and his fans, the Barmy Baronesses and Professor Claptrap of Karlsruhe.

What I suspect is happening at the moment is that the directors of FV are being reminded, by the auditors, of their obligations under the Companies Act regarding 'going concern' before they sign off the latest loss-disclosing accounts.

Lets see what they say. They are due to be filed before Easter Monday but FV have, so far, never filed any of its previous accounts within the set time scale.

 Hart isn't a director, of course, but does seem to be FV's main spokesperson.

Hart isn't a director but in his capacity of CEO he would be the Chair of FV's Management Board and report directly to FV Board of Directors.

In normal practice I would expect the CEO to be the public face of the organisation - and not the owner, unless the owner courts publicity themselves.

I'm sure you have notice that everyone talks about Sharon but if you think about it she's only ever given a couple of interviews over the five years she's been here - just one on her first day to Iles and no more to him since and a videoed one with the bloke from the accountancy firm - the rest of her high profile has resulted more from personal level good deeds she has done for individuals or worthy causes.

As for Wanderlust he is a loon and I don't doubt he has personal issues that effect him as well.

Iles I would not class as being a loon or with any personal issues himself but simply uneducated in respect of matters such as business finance.

Obviously Iles has a far wider audience and is (if you think about it) the precursor to believing what you read on social media as gospel, in being a newspaper journalist, with people believing what they read in the papers as gospel.

I would even suggest the Barmy Baronesses and Professor Claptrap of Karlsruhe are of an age who don't really 'do' social media but have always followed what is said in the papers.

Either way the old adage of don't believe all you read in the papers (or nowadays on social media) should strongly apply in respect of both these two fantasists on financial matters, in my opinion.