Bolton Wanderers have been placed into administration following their High Court hearing.
The football club appeared in High Court this morning over an unpaid tax bill of £1.2million, following a winding-up order issued by HM Revenue & Customs.
The club’s owner Ken Anderson has been under pressure to sell the club for weeks, with former Watford owner Laurence Bassini expected to complete a takeover to save the club from administration.
Anderson confirmed in a club statement that he had been left with “little or no choice” but to put the club into administration, after Bassini’s expected takeover deal collapsed.
Bolton’s financial problems have impacted all levels of the club this season, with the Championship game against Brentford being cancelled after the players refused to play in protest against unpaid wages.
This is disastrous news for Bolton Wanderers, after what has been a terrible season both on and off the field.
The team were relegated from the Championship and the club’s financial problems have spiralled out of control, impacting on all levels of the club.
The news means that Bolton will likely start life in League One with a 12-point deduction, which will make returning to the Championship next season even more of a difficult task.
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