Bolton Wanderers saved from liquidation after sale of club is completed

Bolton have been sold to Football Ventures (Whites) Limited, the club's administrators have announced.

Wednesday, 28th August 2019, 6:27 pm
Updated Wednesday, 28th August 2019, 7:27 pm
Bolton Wanderers' stadium

A deal to take over Bolton has been completed, with the club's administrators announcing the crisis club's sale to Football Ventures (Whites) Limited.

Bolton were on the verge of liquidation after the English Football League gave administrator Paul Appleton 14 days to either sell the Sky Bet League One club or prove they can be funded for the rest of the season.

In a statement, Appleton said: "This has been one of the most complicated administrations I've been involved with, but I'm delighted to say we have finally reached a satisfactory conclusion with the sale to Football Ventures."

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Appleton revealed on Monday there was no money left to fund the club after a takeover bid by the Football Ventures consortium had stalled.

Talks continued on Tuesday and there was optimism Bolton would meet the 5pm deadline to announce a deal had been approved, but progress came too late to stop the EFL enforcing a 14-day notice to withdraw the club's membership.

Appleton added: "At times, some of the hurdles appeared insurmountable and the frustration felt has been immense, not least by the supporters who have had to endure too many weeks of uncertainty.

"I would like to pay particular tribute to the Eddie Davies Trust and their legal team who, throughout this whole process, have been willing to do everything in their power to ensure Eddie's incredible legacy was maintained and not sullied."