Bolton Wanderers’ EFL status has been saved after completing a last-gasp sale to Football Ventures (Whites) Ltd, the club revealed in a statement on their official website.
The Trotters were handed a final 14 day extension on Tuesday after managing to provide enough evidence that a sale was close to completion and that has now come to fruition.
They were docked 12 points at the start of the League One season after falling into administration under Ken Anderson earlier in the year with the club failing to repay previous debts.
Speaking of Anderson in the official statement, joint administrator Paul Appleton said: “Sadly, Mr Anderson has used his position as a secured creditor to hamper and frustrate any deal that did not benefit him or suit his purposes. Thankfully, with the assistance of the Trust and others, we were able to overcome this obstacle.”
Fellow League One side Bury were kicked out of the EFL yesterday after failing to strike a deal within the confines of their own 14 day deadline so Bolton will know that a similar situation will await them.
They were emphatically relegated from the Championship last season amid news of unpaid staff members, first-team players included, with the majority of the side quitting once the transfer window had closed.
But fans will now be hoping that a revival can begin.
What a bittersweet couple of days for football fans.
Seeing Bury kicked out of the EFL yesterday was incredibly hard to take but this news will have definitely brought a sense of positivity to many.
You still suspect they will struggle badly in the third-tier this season, but frankly that does not really matter. Their club is secure and they can now look forward to the future.