Financially-troubled Bolton have avoided moves in the High Court to have the club wound up immediately - with Wigan Athletic still waiting to hear if their bid to buy the Trotters’ training facilities at Euxton has been successful.
Bolton, who are at the bottom of the Championship and owe HM Revenue and Customs £2.2million, were given until February 22 to find a rescue scheme.
The club said in a statement: “The High Court has given the club until February 22 to either close a deal with one of the potential buyers of the club or raise sufficient short-term funds from asset sales.
“This would enable the club to trade and make payments on the debts owed to HMRC and other creditors.”
Trevor Birch, advisor to the owner and board at Bolton Wanderers, said: “HMRC takes a very strict approach towards football clubs.
“Despite the club putting forward a solution, utilising funds generated from its assets that would have enabled repayment of its debt in full over a period of a few months, HMRC refused to agree to an adjournment to give effect to the plan.
“With that in mind, it is pleasing that the High Court rejected its wish to liquidate the club and that it has given the club time either to raise funds and or conclude a sale.”
Bolton’s plan to raise cash involves the proposed sale of a car park at the Macron Stadium, which resides next to the Middlebrook retail park, in a deal that could tie them over until the end of the current season.
It’s also understood that three-to-four parties are in active discussions about taking over from long-time owner Eddie Davies but, as yet, no one group has stumped up the cash to end Wanderers’ financial turmoil.
Everything is up for sale while Bolton try to balance the books, including players and the club’s training ground - and it is understood they are in discussions with both Preston and Latics regarding the facilities at Euxton.
Latics, who currently train at Christopher Park in Standish Lower Ground, had been planning to move their base to Charnock Richard, having acquired land there as far back as 2013.
But two relegations in the space of two years caused those plans to be put on hold, with chief executive Jonathan Jackson admitting earlier this season that promotion back to the Championship was now the priority.
“The whole academy programme is very much full steam ahead,” Jackson told Wigan Today back in November.
“But we have had to take stock of the facility at Charnock Richard, because of the financial implications.
“We’ve only got a finite amount of money, and we have to ensure we invest that in the right places.
“We have to make sure the club continues to operate, and we invest in the playing squad to get us back in to the Championship, which would allow us to generate more income and profits, to then be able to invest in those kind of facilities.
“It’s very much still on the agenda.”