Wanderers trim losses

Wanderers posted a statement on their official website which detailed their accounts for the year ending in June 2014, just after the club had finished their second campaign in the second tier following relegation from the Barclays Premier League in 2012.

They revealed that the club had recorded net losses of £9.1million, down £41.6million from the £50.7million they lost in the financial year ending June 2013, meaning their net debt increased from £163.8million to £172.9million.

Bolton cut staff costs by £9million as then manager Dougie Freedman oversaw a huge change in personnel to prepare the team for life in the Championship, where are they expected to start a fourth straight season in August.

"There's no doubting that the transition to the Football League, following a sustained period in the Premier League, has been a challenging one," chairman Phil Gartside said in the statement.

"(Bolton owner) Eddie Davies continues to provide a humbling level of support to the football club, and as a wider business we are continuing to develop our non-footballing operations.

"We continue to move towards a self-sustainable future, demonstrated by the club successfully meeting the Financial Fair Play criteria."

Bolton avoided the Football League-imposed transfer embargo which their divisional rivals Blackburn, Nottingham Forest and Leeds were handed back in December for failing to comply with Financial Fair Play rules.

Gartside has previously stressed that the level of debt should not be a cause for concern because the majority of it is owed to Davies.

Back in November, Gartside flew to Thailand to meet with prospective investors interested in the Championship club but talk of a takeover has since cooled.