BOLTON WANDERERS WILL enter administration, chairman Ken Anderson has confirmed.
The club, relegated from the Championship this season, were unable to fulfil their fixture against Brentford after players went on strike over unpaid wages.
A notice of intention to place Bolton into administration was submitted on Wednesday at the club’s High Court hearing over a winding-up petition brought by HM Revenue & Customs.
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Anderson blamed the failure of Laurence Bassini, a former Watford owner, to complete a takeover deal for the decision to put Bolton into administration.
“Mr Bassini, regrettably his continued time wasting and empty promises have caused a great deal of heartache and frustration for the staff and supporters alike and now leave the Eddie Davies Trust and I with little or no choice other than for one of us to place the businesses into administration, as any likelihood of finding any resolution the High Court hearing not possible.
“This had been a massive disappointment to me as I understand the serious implications administration will bring to the businesses. But I have been left with no alternative, as this course of action will preserve the football club and all of its proud history.
“I would like to thank all my colleagues at Bolton Wanderers and Bolton Whites for all their hard work during my tenure as chairman and owner. Whilst it is easy to focus on the negatives, the positives will leave me with some fond memories.
“I wish nothing but the very best for everybody connected with this football club and I have no doubt whatsoever that this great football club will once again stand shoulder to shoulder with the giants of the game.”
Bolton, founder members of the Football League, are likely to be served with a 12-point deduction for next season in League One, as well as being placed under a transfer embargo, after going into administration.
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Bolton forced to enter administration after 'empty promises' from ex-Watford owner
BOLTON WANDERERS WILL enter administration, chairman Ken Anderson has confirmed.
The club, relegated from the Championship this season, were unable to fulfil their fixture against Brentford after players went on strike over unpaid wages.
A notice of intention to place Bolton into administration was submitted on Wednesday at the club’s High Court hearing over a winding-up petition brought by HM Revenue & Customs.
Anderson blamed the failure of Laurence Bassini, a former Watford owner, to complete a takeover deal for the decision to put Bolton into administration.
Anderson released a lengthy club statement this morning, explaining the current situation:
“Mr Bassini, regrettably his continued time wasting and empty promises have caused a great deal of heartache and frustration for the staff and supporters alike and now leave the Eddie Davies Trust and I with little or no choice other than for one of us to place the businesses into administration, as any likelihood of finding any resolution the High Court hearing not possible.
“I would like to thank all my colleagues at Bolton Wanderers and Bolton Whites for all their hard work during my tenure as chairman and owner. Whilst it is easy to focus on the negatives, the positives will leave me with some fond memories.
Bolton, founder members of the Football League, are likely to be served with a 12-point deduction for next season in League One, as well as being placed under a transfer embargo, after going into administration.
Subscribe to our new podcast, The42 Rugby Weekly, here:
To embed this post, copy the code below on your site
Bolton Wanderers Championship crisis Football League One