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Bolton Wanderers

Bolton administrators reveal club can only be purchased on one condition

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Bolton Wanderers are seeking prospective owners of the club after being placed into administration.

The Trotters have been plagued by financial troubles this season, which has led to a shortage of supplies at the club’s training ground and staff not receiving their wages.

The club were placed in administration following their relegation to League One, with Laurence Bassini’s takeover deal collapsing after he failed to provide proof of his funds.

It has now emerged that any future owners of the club must prove they have at least £25 million in order to take control, according to the Independent.

This requirement has been set by Hilco Global, who are the club’s administrators. Buyers must also pay a non-refundable £25,000 deposit and sign a non-disclosure agreement.

The club’s joint administrator Paul Appleton confirmed there has been considerable interest in buying club, while he outlined the conditions of any future sale in a club statement.

“Over 30 parties have approached us and we will now begin the process of selecting those best positioned to make a serious offer for the club,” he said in the statement.

Bolton’s financial difficulties mean the club is set to begin their League One campaign with a 12-point deduction.

The Verdict

The fact Bolton’s administrators have outlined clear parameters of any future sale can only be good news for the club.

It is crucial that the Bassini situation is replicated, as the club need to find a buyer who can take the club forward as soon as possible.

After a dark period for the club, there is now an opportunity for a brighter future. Bolton cannot afford to scupper that chance.

ScoopDragon Football News Network