FINANCES at Bolton Wanderers are likely to be stabilised by the end of the season, according to major shareholder Eddie Davies writes Kathryn Eccles

The Little-Lever born businessman is working hard to ensure the financial situation of the club is settled, before manager Sam Allardyce can draw up a wish-list of players.

Mr Davies says he wants the finance to be so stable that the football will generate its own income, giving Big Sam money to spend.

The first job on the list over the coming months is to put the Reebok Stadium onto a long-term mortgage plan. The next is to pay back the club's overdraft to the banks and, again, adopt long-term plans to do this.

Mr Davies exclusively told the Bolton Evening News: "We hope during the course of this year, preferrably by the end of the season, we would have reconstructed the finances and minimising the risk in business that exists.

"We have a three-year plan and we are in another phase of that plan. When we took over in 1999, our objective was to stabilise what was a very unstable financial position and put the club on an even footing. This processs will give us enough stability and put us in a powerful position when dealing with the banks.

"We have currently got long-term assets, such as the stadium, and short-term finance, such as the overdraft. We need to match those assets with the financial arrangements.

"We want to make the financial arrangements long-term, such as a plan to mortgage the stadium long-term."

When asked if funds would be released for players in the coming season, Mr Davies said: "What we are trying to operate is a business with football as the focal point and that the football will start to generate its own internal funds, just like any other business that exists."

Isle of Man businessman Mr Davies was appointed a non-executive director of Bolton Wanderers in October 1999. His financial contribution to the club has amounted to £14m, which make him the biggest single investor and supporter in the club's history.