LONDON (AFP) - A buyer has been found for stricken Bolton Wanderers, staving off the imminent threat of extinction, the English third-tier club announced on Wednesday (Aug 28).. Read more at straitstimes.com.
LONDON - A buyer has been found for stricken Bolton Wanderers, staving off the imminent threat of extinction, the English third-tier club announced on Wednesday .
Appleton praised the part played by the family trust set up by the late Eddie Davies - who owned the club from 2003-16, writing off £175 million in loans and interest. "Even at the 11th hour, when other parties were content to renege on their agreements, the trust realised the very existence of Bolton Wanderers was at stake and were willing to find a compromise to save the club," sad Appleton.
"Sadly, Mr Anderson has used his position as a secured creditor to hamper and frustrate any deal that did not benefit him or suit his purposes.Appleton warned that even with new ownership, there are rough times ahead - the club began the season with a 12-point deduction for entering administration. The deal comes on the first day of a 14-day period Bolton had been given to find a buyer and prevent the club from going the same way as its near neighbour, fellow League One side Bury.
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