Following relegation from the Sky Bet Championship to League One, turnover for Bolton Wanderers (the football business of Burnden Leisure) decreased across the business during the 2016/17 financial year to £8.3m from £24.3m. This was predominantly due to the loss of the Premier League parachute payments which the club had received for the previous four years following relegation in 2011/12. This led to broadcasting revenue dropping to £1.7m from £12.9m. Total wages and salaries reduced by £5.9m from the previous year to £12.6m and the ability to achieve further reductions was hampered by the burden of a significant number of playing contracts that ran beyond the end of the 2015/16 season. The annual report notes, 'A great deal of work has also been undertaken to control all other costs through the business. Encouragingly, this has resulted in a £4m reduction in sales and administrative expenses. It is due to these cost savings that, despite the significant £16m reduction in t...