Bolton Wanderers confirms crashed deal and face winding up petition
19 March 2019
Bolton Wanderers now confirm that that talks with a potential buyer have ended.
According to Sky Sport News, Bolton might receive a point deduction and face winding up petitions.
Bolton Wanderers have issued a statement confirming that talks with a potential buyer – believed to be the Football Ventures consortium – have now ended.
But the club insist that owner Ken Anderson are still in discussions with other possible buyers.
"...can confirm that discussions with one of the interested parties have now been mutually terminated. The Club can also confirm that discussions are ongoing with other parties. A further update will be made in due course," Bolton wrote.
At the same time a winding up petition against Bolton Wanderers has been set at High Court for Wednesday, Sky Sports News understands.
If the winding up order against the Sky Bet Championship club is successful, it could lead them to go into administration and receive a 12-point deduction as a result.
Chairman Ken Anderson has earlier this March said he hoped that a takeover would happen two weeks ago but said confidentiality clauses prevented him from giving any more detail on the matter. However, he said in a statement that discussions were going on with several parties.
Very wide of the mark
Apparently, those discussions have failed, wrote The Bolton News yesterday.
The club has been struggling financially throughout most of Anderson’s tenure, and has been for sale for more than a year.
Various media outlets have reported a sale price around £25 million.
“For the record, the sale price being quoted is very wide of the mark. Indeed, the proposals that I have had would effectively recoup what I paid for my shares, so no huge profit as is constantly stated in the media and social media,” Anderson wrote in the statement.
The struggle continues
Bolton, who have avoided five winding up petitions in the last two years, denied reports they were handed two separate winding up petitions in January this year.
Earlier this month, Bolton confirmed all outstanding salaries for players and coaching staff were paid in full after the squad were left furious by delayed February payments, following a takeover which did not materialise.
Ken Anderson had hoped to finalise a takeover after the issue was resolved.