Media: Bolton sale crashes

18 March 2019

Bolton Wanderes
Photo: Getty Images Both fans, staff and owner Ken Anderson had hoped that Bolton Wanderers would have been sold by now. But the takeover bid is now off the table.

Though being confident a sale would go through, Ken Anderson sees the sale crash as Football Ventures consortium pulls from negotiations, according to The Bolton News.

Both fans, staff and owner Ken Anderson had hoped that Bolton Wanderers would have been sold by now, but according to The Bolton News, prospective buyers Football Ventures consortium have pulled out of the deal. 

The consortium is headed by Parminder Basran and Sharon Brittan, who were supposed to take over the majority shareholding, and the reason for the no-deal is unknown.

According to The Bolton News, the talks looked like going to continue reaching an advanced stage, but the sale crashed and leaves Anderson still in charge. 

Financial crisis

Ken Anderson stated some days ago that Bolton Wanderers' annual accounts showed a small profit for the first time in 12 years, and it has been some years of massive debt and financial difficulties. When Anderson arrived at the club in March 2016, the club had debts of close to a quarter of a billion pounds, according to a statement made by Ken Anderson.

Even with the supposedly small profit, the club still failed to pay salaries on time last month, and Anderson wrote a statement, in which he claimed that it was the first time in his time in the club that it had happened, but according to news agency Press Association, it also happened last summer, when the players went on strike after wages had not been paid.

In September Bolton Wanderers were close to going into administration, but the club just managed to avoid it as former owner Eddie Davies gave the club a £5 million loan four days before his death.