Bolton avoid administration and points deduction after owner repays loan
By Joe Shread
Last Updated: 12/09/18 3:29pm
Bolton Wanderers owner Ken Anderson says the club have avoided administration after a loan was repaid to BluMarble Capital Ltd.
Anderson also confirmed that, as a result of the payment, the Sky Bet Championship club will not receive a point deduction or transfer embargo.
Bolton had previously been under threat of administration after Anderson failed to agree terms with BluMarble over the repayment of a £4m loan.
If the club had entered administration, Anderson warned they could have faced a 12-point deduction and a two-year transfer embargo.
However, Anderson said he has now agreed repayment of the loan. He also says he has rescheduled and reduced several other liabilities, saving the club around £1.5m.
In a statement on the club website, Anderson also apologised to Bolton's fans, saying: "I fully appreciate and understand that the last couple of days have caused some consternation for you all, and I would like to apologise for that, but the whole process has been very complex and far from easy.
"We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.
"I would like to thank you all for your patience and we can all look forward to a season of progress both on and off the pitch."