Bolton Wanderers saved after sale goes through to Football Ventures

Bolton have been sold to Football Ventures (Whites) Limited, the club's administrators have announced.

Wednesday, 28th August 2019, 18:25 pm
Bolton Wanderers.

A lengthy statement by Joint Administrator, Paul Appleton, said: "This has been one of the most complicated administrations I've been involved with but I'm delighted to say we have finally reached a satisfactory conclusion with the sale to Football Ventures.

"At times, some of the hurdles appeared insurmountable and the frustration felt has been immense, not least by the supporters who have had to endure too many weeks of uncertainty.

"I would like to pay particular tribute to the Eddie Davies Trust and their legal team who, throughout this whole process, have been willing to do everything in their power to ensure Eddie's incredible legacy was maintained and not sullied.

"Even at the 11th hour when other parties were content to renege on their agreements, the Trust realised the very existence of Bolton Wanderers was at stake and were willing to find a compromise to save the club.

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“It is a testament to their unflinching determination to do what was best for Bolton that we are able to complete the deal today.”

The EFL and PFA were praised for their efforts in saving the club.

He added: "Now there can be a fresh start with owners who, I believe, will run the club for the good of the supporters and the community as a whole."For everything the fans have had to endure, they deserve nothing less.”

Debbie Jevans CBE, Executive Chair, said: "On behalf of the EFL Board, I am pleased that the administrators appointed in respect of Bolton Wanderers football club have today concluded the transfer of assets with Football Ventures to place the club under new ownership and out of administration.

"Having worked closely with the administrators since their appointment in May, the EFL has been focused on working through this difficult and complex period of uncertainty with all parties.

"Following the completion of the sale, the club is no longer in administration and the notice of withdrawal issued as per the EFL’s insolvency policy has been cancelled."

It comes 24-hours after debt-ridden Bury were expelled from the EFL after failing to agree a takeover deal.