A preferred bidder has been named by Bolton Wanderers as they try to get a takeover completed.

Football Ventures (Whites) Limited, headed by Sharon Brittan and Parminder Basran, are the company hoping to get the deal over the line.

The company registered in January with the purpose of purchasing the club.

Wanderers fell into administration at the end of a turbulent season which saw problems on and off the field, and culminated in relegation from the Championship.

Consequently, the club will now start League One on -12 points.

Administrators Paul Appleton of David Rubin & Partners say they are now looking to complete the deal.

Paul Appleton of David Rubin & Partners said: "We undertook a comprehensive bidding process where all interested parties were given an opportunity to make their best and final offer for the club.

"Football Ventures made the highest offer by a substantial margin and were also able to show absolute proof and source of funding to match the requirements of the process.

"They were also able to show the viability of a minimum two-year business plan for the club which was of the utmost importance.

"With the Heads of Terms agreement signed, we now move towards a Sales and Purchase Agreement and the completion of the deal."

The Verdict

This is hopefully good news for Bolton who have experienced a torrid time in recent months.

The whole of the football league will be hoping that this dire situation can get solved as quickly as possible.

Time will tell whether the buyers are able to get the deal over the line, but with just over a month until the season starts, Bolton will need to get their house in order before it's too late to get a team together to fight relegation.