SSI Takeover approved.

Sorry if I'm behind the times. Just saw this on SSN website and thought it worth posting the full article. Not sure how good this news is but it does look like the whole sorry saga might finally be coming to some sort of conclusion.
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[size=34]Bolton Wanderers takeover approved by Football League[/size]
Last Updated: 08/03/16 5:16pm

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Dean Holdsworth is expected to become chairman of Bolton Wanderers

Dean Holdsworth will become the new chairman of Bolton after the Football League ratified a takeover by his consortium.
The former Bolton striker is the head of the Sport Shield group, who are expected to formally complete their takeover of the club in the next 24 to 48 hours.
The Football League have given their approval to the deal going through "subject to future conditions"; the consortium have been asked to provide evidence of future funding for the club should they be relegated to Sky Bet League One at the end of the season.

There were also questions about future payments to current owner Eddie Davies and Sport Shield are very close to agreeing a resolution to that situation.
Holdsworth will be installed as the new chairman and take on the running of the club when the contracts have been completed.




Bolton were in the High Court on Monday where a winding-up order issued by HMRC over an unpaid tax bill of £2.2m was adjourned for 14 days.
It was the third delay to the winding-up order and was given to provide Davies with extra time to complete the sale of the club
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http://www.skysports.com/football/news/11672/10197158/bolton-wanderers-takeover-approved-by-football-league

Good spot Peter,

Seems we will be ok for at least the end of the season and I guess the Football League reckon we will be ok for next season too.

I look forward to see what the plan is because I can't see how they can trade without putting more money in?

They have to go back to the football league if (when) we are relegated? Why? Surely any bidder worth their salt would have substantial funds in place to run a venture like this for many years to come.

What that article doesn't reveal is the fact that the "Conditional approval" of SS's takeover is also subject to monthly checks of the financial situation within the club by the FL until further notice.

Quite an important point that one and I'm surprised it's been omitted.

Not sure what the sanction would ever be if they found something they didn't like but I doubt it would be good news for the club.

(This came out in court yesterday, just in case anyone thinks I'm making it up.)

Knowing it's Bolton, probably playing a series of games behind closed doors, transfer embargo, fine.  Perhaps PG in his tenure at FA made some enemies cos no bludger likes us.

The conditions to the approval, notably the monthly monitoring just emphasise how it's absolutely touch and go with the finances.
And that's just finances to keep the club afloat. Forget investment in the squad although TBF with all those long contracts we're stuck with we were never going to be making signings anyway.

I'm still amazed SS got the approval even with the conditions because it still doesn't stack up and there's more to this bid than has been released into the public domain.

Don't believe it yet lads ......the magic phrase is still in that story.... "Expected to be completed in 24/48 hours"

I've heard we'll know a fair bit more in 48 hours regarding the takeover.

Hipster_Nebula wrote:I've heard we'll know a fair bit more in 48 hours regarding the takeover.

You've used that joke about 4 times now

Joke?