9 Biggest Downward Spirals By Former Premier League Clubs

4. Bolton Wanderers

Being £172.9-million in debt would be a worrying situation for any football club, including major Premier League stalwarts; so for Bolton Wanderers, who last played in the top flight four years ago, their current predicament is very concerning. In the early years of the Premier League, Bolton were the classic 'Yo-Yo Club'; winning promotion in 1995, only to be relegated in 1996. 1997 saw promotion from Division One before going down again in 1998. In 2001, under the stewardship of Sam Allardyce, Bolton won promotion through the play-offs. Against previous form they narrowly avoided relegation in their first two seasons, before steadily solidifying themselves as a force to be reckoned with. The club were enjoyable to watch for the neutral with the skilful Jay-Jay Okocha, French international Youri Djorkaeff and Real Madrid legends Fernando Hierro and Ivan Campo all wearing the Bolton colours during Allardyce's reign. Allardyce left Bolton at the end of April 2007 and the team had several mid-table finishes before the 2011-12 season when they were relegated by a single point on the final day of the season. Wanderers currently sit bottom the of Championship table, and HM Revenue and Customs has handed the club a winding-up petition over unpaid taxes. They are under a transfer embargo for breaking Financial Fair Pay regulations and had to sell off their training ground and stadium car park in recent months to raise funds to survive. While a consortium led by former player Dean Holdsworth could save the club from extinction, these are dark times for fans at the Macron Stadium.