Bolton Wanderers talking to three parties over club sale
Wednesday 3 February 2016 11:15, UK
Bolton Wanderers remain in talks with three parties over a takeover, but there is no front runner at this stage.
One consortium, the Sports Shield Consortium, is led by former player Dean Holdsworth and the Bolton Wanderers Supporters' Trust are also attempting to buy the club.
It is understood the club has has enough money to keep them afloat until the next court hearing on February 22.
Bolton were given High Court permission last week to complete a commercial deal they hope will put an end to their financial turmoil.
The club 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.
On January 18, the Lancashire club were given 35 days by the High Court to reach an agreement over their outstanding £2.2m debt with HMRC.
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 have debts 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.
