Shareholders feel the pain of Bolton's fall
Tuesday 12 May 1998
Bolton Wanderers' disastrous 2-0 defeat at the hands of Chelsea at the weekend consigned the team to the First Division after only one season back in the Premiership. The result saw pounds 6m wiped off the stock market value of Burnden Leisure yesterday. The shares tumbled by more than a fifth to 17p, down 5p, as the City anticipated a sharp drop in profits next season.
Bolton will miss out on millions of pounds worth of television income which they would have been entitled to in the Premier League as part of a lucrative contract with BSkyB, the satellite broadcaster.
Gate revenues and merchandise sales are also bound to suffer in the First Division, with the lack of high profile opponents likely to attract smaller crowds.
The defeat for Bolton was particularly cruel for shareholders, who have already had a terrible season. Burnden's shares have slumped from a peak of 62.5p last year. They had begun to recover as hopes of Premier league survival gained ground, only for investors to see Bolton fall at the final hurdle by losing their last match of the season.
However Bolton, which have recently built a new state-of-the-art stadium, still have a strong local support and analysts believe the club could still be profitable in the First Division.
- 1 I've been called an abusive and dangerous parent, when all I did was listen to my transgender child
- 2 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 3 Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
- 4 The most powerful passports in the world
- 5 Chinese student carries disabled friend to school every day for three years
Nepal earthquake: How you can help victims of the Kathmandu disaster
Nepal earthquake in pictures: Photos show devastation caused by 7.8 magnitude earthquake
Royal baby: Live updates as superbug closes ward at St Mary's Hospital in London where Duchess of Cambridge is due to give birth
Teaching profession headed for crisis as numbers continue to drop and working lives become 'unbearable'
General Election 2015: The photo of a tree that proves the Tories have an image problem
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...
£20000 - £25000 per annum + competitive: SThree: Did you know? SThree is the o...