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Bolton Wanderers on brink of liquidation as 5pm deadline looms | UK News



Bolton Wanderers FC are on the brink of liquidation after a deal to sell the club collapsed over the weekend.

The future of the 145-year-old side is hanging in the balance as quibbles continue over legal paperwork.

A deal to sell the club to preferred bidders Football Ventures fell through on Saturday morning, despite being virtually agreed hours earlier.

The administrator for Bolton has warned the club’s money has run out and he will start closing them down on Wednesday.

The English Football League (EFL) has given the club until 5pm on Tuesday to prove a deal is done or provide reasons why they require an extension.

Bolton's chairman Ken Anderson (left) has faced criticism from fans
Ken Anderson (left) has rejected suggestions he is to blame for Bolton’s predicament

If not, a notice for their formal withdrawal from the league will be issued.

Bolton, founder members of the Football League, will still have 14 days to provide proof of funds in order to stave off expulsion.

But assets will start being sold off on Wednesday, with more than 150 jobs likely to be lost.

The club’s Greater Manchester neighbours, Bury FC, also face a 5pm deadline for their owner Steve Dale to complete a sale to data analytics company C&N Sporting Risk.

If it does not go through they face a similar withdrawal notice.

Bury FC's chairman insists he did not create the crisis threatening the club's future

Embattled Bury chairman: ‘I saved that club’

Bury, however, have been offered a lifeline by the EFL in terms of an extension should they be able to prove a deal is all but done.

Bolton’s situation is more precarious.

The side’s administrator, Paul Appleton, said: “The club is currently not in a position to carry on trading and, as such, the process of closing down the company will commence on Wednesday.

“Unless there is a change of position from any of the parties involved, the process of closing down the club and ultimately placing Bolton Wanderers into liquidation will begin this week.”

Bolton’s owner Ken Anderson has rejected suggestions he is to blame.

He told Sky Sports News: “I have had no contact with any of the consortium, the Eddie Davies Trust (set up by the former owner) or Keir Gordon (lawyer for the Trust) since the appointment of the administrators and was not involved in any of the discussions or delays over the last few months.

“The lengthy delays are entirely due to the discussions and negotiations between the consortium, Trust, Michael James, Administrators and Keir Gordon.

“As l understand it, Keir Gordon and the Eddie Davies Trust and my lawyers were unable to reach an agreement on Saturday.

“Obviously, l have to be guided by my lawyers and QC advice and it now rests with Keir Gordon and the Trust to respond to my lawyers.”

Bolton started the season on minus 12 points after being placed in administration.

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