Bolton Wanderers announced today a takeover by Ventures (Whites) Limited a day after administrators warned that the club could be placed into liquidation.
After League One side Bury were expelled from the EFL on Tuesday, Bolton were given 14 days to meet all outstanding requirements of the League’s insolvency policy or their membership of the EFL would also have been withdrawn.
Paul Appleton who is joint administrator has said;
“I’m delighted we’ve finally reached a satisfactory conclusion with the sale,”
“Ihave every sympathy for the staff, players and fans who have been forced to stand by while their club was taken to the brink. I am delighted their loyalty, dedication and patience have finally been rewarded.”
Bolton are now officially out of administration and their place in the EFL is no longer under threat. Great news for the fans and a club so reaped in history.
In a statement released via the club’s official website, Appleton blamed former Bolton owner Ken Anderson for the fact the takeover deal proved so difficult to complete.
“This says much about the determination of the Eddie Davies Trust not to allow his beloved Bolton Wanderers to suffer any longer at the hands of Ken Anderson,” Appleton said.
“Sadly, Mr Anderson has used his position as a secured creditor to hamper and frustrate any deal that did not benefit him or suit his purposes.
Thankfully, with the assistance of the Trust and others, we were able to overcome this obstacle.”