Bolton Wanderers announce takeover following EFL expulsion threat | OneFootball

Bolton Wanderers have announced a takeover by Ventures (Whites) Limited a day after administrators warned that the club could be placed into liquidation.

After fellow League One side Bury were expelled from the EFL on Tuesday, Bolton were given 14 days to meet all outstanding requirements of the League’s insolvency policy or their membership of the EFL would also have been withdrawn.

“I’m delighted we’ve finally reached a satisfactory conclusion with the sale,” said joint administrator Paul Appleton.

“I have every sympathy for the staff, players and fans who have been forced to stand by while their club was taken to the brink. I am delighted their loyalty, dedication and patience have finally been rewarded.”

On Tuesday, Bury became the first club to drop out of the EFL since Maidstone’s liquidation in 1992.

But Bolton are now out of administration and their place in the EFL is no longer under threat.

“These past few months have undoubtedly been challenging and, at times, fraught – never more so in the past few days – and I would like to thank all parties for their efforts in achieving the desired outcome,” said EFL executive chair Debbie Jevans.

In a statement released via the club’s official website, Appleton blamed former Bolton owner Ken Anderson for the fact the takeover deal proved so difficult to complete.

“This says much about the determination of the Eddie Davies Trust not to allow his beloved Bolton Wanderers to suffer any longer at the hands of Ken Anderson,” Appleton said.

“Sadly, Mr Anderson has used his position as a secured creditor to hamper and frustrate any deal that did not benefit him or suit his purposes.

“Thankfully, with the assistance of the Trust and others, we were able to overcome this obstacle.”