Bolton Wanderers staff told deal to buy club has been agreed
By Sky Sports News
Last Updated: 27/03/19 6:15pm
Bolton staff have been informed on email by owner Ken Anderson a deal to buy the club has been agreed, subject to contract, according to Sky sources.
It is understood the deal to buy the Sky Bet Championship club could be wrapped up within the next 48 hours.
Bolton were issued with a winding-up petition by HM Revenue & Customs in February over an unpaid tax bill for £1.2m, faced administration or liquidation, but had until the start of April to find a buyer.
A 14-day adjournment on March 20 gave the club extra time to settle debts and make a sale.
The management and players at the club received their February salaries late last month and threatened legal action against the club for late payment and March's wages are due on Friday.
Wanderers are in danger of playing League One football next season if the club goes into administration before or after the deadline.
EFL rules stipulate if a club enters administration before March 28, a 12-point deduction will be applied this season which would almost certainly mean relegation.
If that scenario happens after March 28 the points deduction will come into effect next season, however should Bolton stay up, then the points deduction could revert back to this season, effectively meaning relegation anyway.
However, the EFL are likely to wait until the end of the season if administration happens after March 28, before then making a decision after taking into account Bolton's final league position.
Bolton chairman Ken Anderson said this week talks were "ongoing" with prospective buyers and, as matters currently stand, he does not foresee any need to appoint an administrator before the High Court hearing.