Bolton Wanderers have released a statement on behalf of their administrators, confirming that they have just over 24 hours to save themselves from expulsion from the EFL.
The club – who have been in administration since May – could potentially be expelled from the EFL, unless they can complete the takeover or provide evidence that they will be able to do so by Tuesday evening.
The Football Ventures consortium have been trying to complete a takeover of the club for months, but the EFL are concerned by the ongoing delays.
The club have been given a deadline of 5pm tomorrow evening to complete the takeover, or provide the EFL with compelling evidence that they will be table to complete the takeover soon.
Botlon released a statement on behalf of their administrators on their club website, confirming that the sale of the football club and the Bolton Whites Hotel had been agreed by all parties on Friday evening and that undertakings had been issued by all solicitors except those of owner Ken Anderson.
However, the deal collapsed on Saturday morning, and while the statement states that there is little point in apportioning the blame, The Bolton News claim that the delay is due to a change in demands from Anderson.
The statement goes on to say that while there were some discussions on Sunday evening, the club are still “some way from reaching a solution” and that a failure to complete the deal will result in the business being placed into liquidation.
It has been a disastrous few months for Bolton and you cannot help but feel for their supporters.
Hopefully Bolton will be able to get the takeover completed as soon as possible and end the uncertainty that has been hanging over the club for months.
Hopefully the two parties are able to reach some sort of compromise over whatever it is that is preventing them from finalising the takeover – as the immediate future of the football club now depends on it.