Administrators name preferred buyers for Bolton
"Football Ventures made the highest offer by a substantial margin"
Last Updated: 01/07/19 7:26pm
Bolton's joint administrator have named their preferred buyers for the Sky Bet League One club.
Wanderers, relegated from the Championship at the end of last season, went into administration in May after a takeover bid by former Watford chairman Laurence Bassini collapsed.
Paul Appleton, on behalf of administrators David Rubin and Partners, said in a statement on the club's website: "We undertook a comprehensive bidding process where all interested parties were given an opportunity to make their best and final offer for the club.
"Football Ventures made the highest offer by a substantial margin and were also able to show absolute proof and source of funding to match the requirements of the process.
"They were also able to show the viability of a minimum two-year business plan for the club which was of the utmost importance.
"With the heads of terms agreement signed, we now move towards a sales and purchase agreement and the completion of the deal."
Bolton will begin the new campaign in the third tier of English football with a 12-point deduction.