SAM Allardyce's ambition to re-write the history of Bolton Wanderers could be frustrated by money worries.

The Reebok boss believes his team is on the threshold of eclipsing some of the greatest achievements in the club's 125-year existence.

But he fears he will struggle to deliver if the debt burden - currently running in excess of £30 million - is not tackled.

"I believe we are very close to creating history at Bolton Wanderers, if we want it," the manager said as the countdown to the new season continued. "But the bottom line is still the massive financial problem.

"If we are to be great in the next three, four or five years, that's got to be resolved somehow. I don't know how, it's not my job, but it has to be if we are going to achieve something at this club more than we have ever achieved."

Having steered Wanderers from the lower reaches of Division One to Premiership survival in under three years, Allardyce is now aiming to take them even higher. He has added quality to his squad by enticing world class players Youri Djorkaeff and Jay-Jay Okocha and should know in the next 48 hours whether he will be able to lure Real Madrid central defender Ivan Campo to the Reebok.

But, while good housekeeping, prudent budgeting and Premiership survival has allowed his directors to increase his wage bill to unprecendented levels, he is still unable to match the fees paid by some of his rivals. And today he was on the receiving end of stinging jibe from Taribo West when the Nigerian international accused Wanderers of showing him "disrespect" by offering him £6,000 a week.

Nevertheless, the Bolton boss is a skilful operator on the transfer market and is looking to take Wanderers to a 40-year high, which would be achieved if they finished in 11th place or above.

He offers no assurances and accepts that, having achieved success in double quick time, the threat of failure is always there.

"If we are not careful it can all change quickly and go very sour," he warned. "If we lose our Premiership status, the ramifications are so massive financially - more than they have ever been before - and it might be difficult to repeat what has been done over the last few years, not just by myself but by Bruce Rioch and Colin Todd before me. The wage cuts a football club has to achieve when it is relegated now are really scary.

"So, while there is the opportunity to progress, become a stronger force in the Premiership and put ourselves into the record books, we have to guard against the threat of failure and the devastation that would bring."