BOLTON Wanderers could be forced into administration next month, if a last-ditch attempt to boost cashflow does not succeed.
Chairman Ken Anderson claims he has struck a deal in principle with Dean Holdsworth to buy his share of the club.
That is yet to be confirmed by Holdsworth's camp - but if the transaction goes ahead it will save the club from serious financial problems.
Anderson confirmed to The Bolton News this morning that the club does not have adequate resources to pay salaries or creditors in December under the current arrangement.
The Football League want to speak with both men on Thursday, when it is hoped a business plan for the next 12 months can be submitted.
Last night a compromise which saw Anderson buy out Holdsworth’s 40 per cent holding in the club but agree to retain the former striker as a club ambassador looked to have failed.
Discussions resumed this morning and - it is claimed - have now reached a conclusion in which Holdsworth will stay on at the Macron.
Anderson had admitted for the first time that the worst-case scenario is being contemplated.
“It would be a last resort," he told us. “But if we do not reach an agreement there would be no alternative but to appoint an administrator.
“If I don’t put the money in, or Dean, then the club won’t get to the end of next month. Creditors and salaries are due.
“If there is an agreement, we carry on trading as normal.
“It is such a shame to be talking like this when everything else is going so well."
Wanderers were minutes away from putting themselves into administration earlier this year after making four visits to the High Court over an unpaid bill to HMRC.
That was avoided after Holdsworth’s Sports Shield joined forces with Anderson to buy the club from Eddie Davies – a bid which was eventually ratified by the Football League on special conditions.
Wanderers have remained in a transfer embargo but sit second in League One after a fine start to the season under new manager Phil Parkinson.
The Bolton Wanderers Supporters' Trust has said it will take a watching brief as matters unfold.
"In light of The Bolton News' article regarding the possibility of administration, we are currently monitoring the situation and will make comment when matters become clearer," a statement read.
What a great Christmas present to the fans.
Another fine mess you have got me into.
posted on 2/12/16
There may not be a Bolton team !!! by the time he gets his chance,
posted on 3/12/16
You have to fear the worst especially with the Beano doing the usual grand job of switching attentions elsewhere not a peep from the rag telling us what the current state of ownership is.
Will this be Dean's last match weekend as co owner will the tax man knock before Ken signs the divorce agreement. Where is Max and his new boots. Will The Howfen Weavers cover of Just Like Eddie hit the top spot in the Bolton Christmas charts
Tune in to find out in next weeks SOAP
posted on 3/12/16
There may be some news on Monday. After all we have a game monday night. Hoping for a good win for us rather than the tedious 1-0 win and hanging on at the end of the game.
Will we be any nearer knowing what's happening with finances? That's anyone's guess.
posted on 3/12/16
What's all this about a game on Monday night has somebody been at the Christmas shandy a bit early this year
posted on 3/12/16
Swie will still be on Spanish time,and suffering jet lag.
Then he has to get climatised over here in Blighty,then there's Ken &Deano to think about ,time goes nowhere.
posted on 3/12/16
Swie- forgot to say there's a F.A.CUP match Sunday 2pm 04-12-2016, that's this Sunday.😱
posted on 4/12/16
What's all this about a game on Monday night has somebody been at the Christmas shandy a bit early this year.
Not down to the drink, just read the fixture list without checking the date. Slap my hand if you must.
Today is the cup game.
I see the supporters trust have a meeting with the EFL. I think the EFL have a lot to answer for. They are supposed to be monitoring the situation and if they hadn't got any real assurance that the club could survive why did they let the deal go through?
Perhaps without the deal the billionaire could have stepped in.
posted on 5/12/16
It must be a difficult if not impossible task for Ken, he wants a reduction in the interest that he is paying. Now are bluemarble stupid enough to grant him that when they can just wait and pick up the clubs assets if financial matters don't pan out for Ken?
The most valuable asset they are set to gain if everything works out for them is the stadium. What is likely scenario if that happens, will the stadium be raised to the ground to accommodate a host of retail units or will it survive as the home of BWFC?
I wouldn't begin to speculate on that.
posted on 6/12/16
Will end up like Coventry. Get turfed out by blue marbel.Maybe if lucky get it rented back. I bet there will be houses/flats/retail units where the macron is in 5 years time. Groundshare with wigan or bury while maybe a smaller ground is built. Possibly.
posted on 6/12/16
Not a very palatable assessment Benny but it could become a reality.
The question I would ask is were the good years under Eddie Davies worth it?
He had to own all the club and employed Gartside to do his bidding. Then to compound all his mistakes he imposed ridiculous conditions into the sale agreement which only Deano was going to agree to.
Then we got Anderson who wants to own the club using someone else's money. Just a complete recipe for disaster.
Throw into the mix the FL who are supposed to make sure owners have the cash to run the club and don't do their job properly, and we have the situation we have today. An underfunded club with the vultures who have the assets tied up in a loan deal circling above the Macron.
All stems from our illustrious new president, Eddie Davies.