The true cost of administration for Bolton Wanderers has been revealed and the figures are eyewatering.
As reported by the Bolton News, the cost of managing the takeover of the club is set to move close to the £1m mark, with administrators charging £357 per hour to get the deal over the line.
It’s thought that David Rubin and Partners, along with their associated consultants, will end up charging the ailing Trotters £976,113. That’s despite having reportedly written off £20,761 of costs prior to their appointment.
Thus far, the only income generated by the administration has been for the sale of Luca Connell, with Celtic paying a development fee reported to be around £250,000.
Several other members of the first team squad have had requests to terminate their contracts blocked. They include Josh Magennis, Erhun Oztumer and Remi Matthews.
The Trotters kick off their League One campaign a week on Saturday against Wycombe at Adams Park, with a 12-point deduction already in place for entering administration.
These sums are bound to rile the honest folk of Bolton, not least those who have not been paid for their troubles for weeks on end. The administrators have a job to do, granted, but who earns £357 per hour in the real world?
It’s frightening to see someone profit so much from the misery and heartbreak suffered by Bolton staff, fans and players.
The whole sorry affair is drawing to a close, but the repercussions will be felt long after David Rubin and Partners have trousered their money and left. There is a relegation battle ahead, a fight to retain their dignity and of course, 12 points to make up.
The only saving grace is that there is still a club to support after a horrible period in their history.