Consortium remain 'optimistic' over Bolton Wanderers takeover

The Sports Shield Consortium, led by former Wanderers striker Dean Holdsworth, are 'optimistic' a deal to take over Bolton can be achieved.

Talks remain ongoing between the group and Bolton's current owner Eddie Davies. 

Although Sky Sports News HQ understands Sports Shield are at the stage where they are reviewing their involvement in the takeover, discussions between both parties will continue over the coming days and they remain optimistic it can be finalised.

The struggling Championship club were given High Court permission last week to complete a commercial deal they hope will put an end to their financial turmoil.

Bolton face a winding-up order and needed special dispensation to proceed with the sale of a car park next to their Macron Stadium to raise emergency funds.

That permission, known as a validation order, was granted at a hearing last Friday and Wanderers were able to speed up the payment of outstanding January wages.

On January 18, the Lancashire club were given 35 days by the High Court to reach an agreement over their outstanding debt with Her Majesty's Revenue & Customs.

The plan is to repay the creditors by selling an asset - namely the car park next to the stadium - to give the Inland Revenue some money before repaying the outstanding debt over the next three to four months.

At present, Bolton still owe approximately £2.2m to HMRC and £185m to their owner Eddie Davies. The plan is designed to give the club breathing space in order to move forward with a potential takeover; to inject cash into the business so that the sum needed to invest in the club is reduced.