Bolton Wanderers have used the parachute payments they received from the Premier League after their relegation in 2012, to pay off an overdraft that they had with Barclays Bank, according to Burnden Aces.

The Trotters announced that they had a overwhelming £163 million debt, of which was owed to their owner Eddie Davies and Barclays Bank, and was released into the public on 30 June 2013. However, according to the Bolton fan site, the debt of around £12.5 million to Barclays Bank has now been paid off.

The date of the repayment is still unknown and will not be revealed by the club until the 2014/15 season figures have been released, which is believed to be in Autumn 2015 at the earliest.

It has also been released that the Wanderers have topped the table of highest debt in the Championship, after a record loss of £50 million last season, The Bolton News have reported. This comes after the Football League announced that the total price of owed money in the Championship from the 24 teams, has passed one billion pounds.

The club have had to ship out players on Premier League wages as they could not afford the cost, including the likes of Zat Knight and Chris Eagles. They also missed out on their number one target, Lukas Jutkiewicz, to rivals Burnley as it is believed that the Lancashire side did not have the funds to match the offer set by the Premier League new boys.