Lennon reveals positive news on Wanderers takeover battle

Neil Lennon believes the Wanderers takeover race may have boiled down to “first past the post.”

The Whites boss bore good news at his weekly press conference this morning, suggesting that an end is now in sight in the ownership battle at the Macron Stadium.

Wanderers could go into voluntary administration by this time next week if a buyer is not found – but after intense discussions in the last 48 hours, it is understood that significant progress has now been made.

“I think we are starting to see some shoots of recovery,” Lennon told The Bolton News. “Having spoken to Trevor Birch there are three or four interested parties, negotiations are ongoing and it could be a case of first past the post. Who can put the money up first.

“He is a lot more confident now than things maybe looked a few days ago.”

Lennon admits the pressure of the last few days has taken its toll.

The manager met with players, representatives from the PFA and new financial advisor Trevor Birch on Tuesday morning to discuss why football staff had not been paid in November.

No guarantees were given as to when that situation will rectify itself, and PFA chief executive Gordon Taylor admitted that administration was now a worst case scenario being examined.

But Lennon was able to put a slightly more positive light on things at the stadium today, with the hope being a deal will be a lot nearer completion by the time his side face Cardiff City on Saturday.

“The players and staff have had a tough few days – it’s the uncertainty and the unknown,” Lennon said.

“I have been kept up to date, as much as he can tell me. There is a lot of to and fro and these things do take time.

“He feels a lot more confident in the last 24 hours that something can be done by next week.”

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I'm starting to feel a little better about this now although this criterion of who can get the money fastest gets the club is a worry.

It's only good news if someone with the capital to make us better takes over. 

Otherwise we'd be better starting over.

wanderlust wrote:I'm starting to feel a little better about this now although this criterion of who can get the money fastest gets the club is a worry.

This was and remains my fear mate. That Birch was bang on when he said the money isn't actually there yet. I suspect that someone is planning to try and buy the club by borrowing money against the assets of the club just as the Glazers did at Man Utd. The crucial difference is that Man Utd have a revenue stream big enough to do that and we don't even without the debt situation as is. 

I would love to see us avoid admin but I'd actually prefer that to happen than have someone mortgage everything to the hilt then fall flat on their faces and bust the club entirely.

Without all the facts it's a bit baffling .....  surely if you or I were taking over the club we would have figured out a way to make money on our investment over time. The way it's reading right now is that somebody is here just to bail us out for the time being...which doesn't make much sense.