Bolton Wanderers have issued an important update to supporters on the potential takeover of the club.  

The joint administrators for the club have revealed that they have set a deadline of 4pm on Wednesday 12th June for the best and final offers of the club.

The report also revealed that there were six potential buyers of the club, although one of the bidders have been removed from the running.

The remaining bidders have been asked to provide proof of funding and supply a final offer.

Joint administrator, Paul Appleton revealed in a statement that they are hoping to conduct the interview process in a swift fashion so that it doesn't impact matters on the pitch.

"We have made it clear from the outset of this process that speed is of the essence.

"Bidders have to be aware of the time constraints. Urgent decisions as to the sale will need to be made in the best interest of the club and creditors as we work to finalise a deal over the coming weeks."

Bolton boss, Phil Parkinson will be keen to see the back of their off-the-field troubles at the earliest of opportunities, so that they can turn their attentions to next season.

They will start next season with a 12 point deduction, and will be hoping to fire themselves up the League One table as quickly as possible.

The Verdict: 

This is a promising update.

Bolton supporters will be hoping that this can be conducted in a swift fashion, and that it doesn't impact their first season back in League One too much.

The sooner this is all concluded, the better.