Bolton Wanderers sale gets closer as agreement reached with preferred bidder
- June 30, 2019
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The club went into administration in May when Laurence Bassini’s bid to takeover the club collapsed.
Wanderers were relegated to League One following a disastrous season with financial problems off the pitch.
Owner Ken Anderson struggled to find a buyer for the club.
Joint administrators David Rubin and Partners had stipulated any parties interested would need to prove they have at least £25million available.
An offer has since been received but their identity has yet to be revealed.
The interested party, who meets EFL approval, also intends to inject £1million into the club to enable its immediate running, while it has also proved financing for a minimum of two years and can satisfy outstanding creditors.
Joint administrator Paul Appleton understands everyone wants the matter resolved as quickly as possible, but stressed the proper timescale must be adhered to as the club look towards a fresh start under new ownership.
“For legal reasons, I cannot name the preferred bidder until Monday. But I realise just how important it is Bolton fans are given confidence we are now a major step closer to the sale of the club and securing its future,” Appleton said in a statement issued via the Bolton website on Saturday.
“This has not always been a straightforward process owing mainly to the need to condense what would normally be a four to five-month timeframe into closer to seven weeks.
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