Bolton Wanderers attract 'substantial interest' from potential buyers, say administrators
Anyone wishing to buy Bolton will need to prove they have funds of at least £25m
By Sky Sports News
Last Updated: 22/05/19 11:41pm
More than 30 parties have expressed an interest in buying Bolton Wanderers, according to the club's administrators.
However, any potential bidders will need have to provide proof of funds worth £25m to take control of the League One club.
Bolton owe more than £1m to HM Revenue & Customs and the club was placed into administration on Wednesday after a takeover by former Watford chairman Laurence Bassini collapsed.
In addition to providing proof of funds, interested parties will also have to pay a deposit of £25,000 to access financial information relating to the sale - a figure which is only refundable if the bid proves successful.
They would also be required to sign a non-disclosure agreement for the duration of the sale process.
Joint administrator Paul Appleton said: "There has been substantial interest from the moment of our appointment on May 13.
"Over 30 parties have approached us and we will now begin the process of selecting those best positioned to make a serious offer for the club.
"Speed is of the essence in this process and we are advising all those with a serious interest to provide information concurrently to the EFL in respect of their Owners' and Directors' Test in order to satisfy those demands.
"Hilco have an outstanding reputation in this market and I am confident that we will soon have whittled down the list of potential buyers in order to find the best purchaser for the club and restore the standing of Bolton Wanderers."
Bolton were relegated from the Championship and will start next season in League One with a 12-point deduction as a consequence of going into administration.
Players have not been paid since February, leading to them receiving support from the Professional Footballers' Association, while non-football staff are yet to receive their April salaries.