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Nervous Wanderers fans are demanding answers from the club's hierarchy as they wait to discover who will be taking over the club.
Ahead of Saturday's defeat to Cardiff, The Bolton News spoke to Whites fans outside the Macron Stadium about the club's plight and the lingering threat of administration.
Potential new owner Dean Holdsworth, whose Sports Shield Investment company is thought to be in pole position to buy Wanderers from Eddie Davies, was at the match, and supporters are keen for a rapid resolution.
Barry Wilson, aged 62, from Over Hulton, said: "As a fan, it's very difficult to comment on what is happening because we aren't being given the facts.
"We are told that the various groups who want to buy the club don't meet all of the criteria, but we don't know what the criteria are.
"The club needs to move on and whoever comes has to be prepared to invest enough money and effort to take the club forward. If they are, then that's wonderful.
"It would be absolutely tragic if we went into administration. Three years ago we were in the Premier League and now we could be heading for League One."
Gary Howell, from Bolton, took Saturday's opponents as an example of what significant investment and ambition could bring to the Macron.
The 41-year-old said: "Look at someone like Vincent Tan at Cardiff and the money he put into the club. Yes, they are back in the Championship now but they had a season in the Premier League.
"We need someone who is willing to come in and buy some quality players, not just bringing people in on loans and free transfers. We need more people here at every level who really care about the club."
Tony Howarth, aged 69, from Halliwell, said: "The fans need to know how we got into this state in the first place.
"When Neil Lennon came in last season he was so optimistic about what could happen here, but he has been badly let down by the people who run the club.
"I don't mind who takes over as long as it is someone who can actually take the club forward. A club of this size should be in a far better position than we are now."
Steve Raynor, aged 66, travels from Macclesfield for Wanderers games and expects the fans to stick by the club regardless of what division they are in next season.
He said: "I think what a lot of people are disgruntled with is the Warburtons because they don't seem to have helped the club at all.
"We are paying inflated wages for a big squad that isn't good enough. Signing Heskey and Ameobi have both been big mistakes, in my opinion. We should be giving the kids a chance instead, like they do in other countries.
"This reminds me of the 70s when we were barely surviving in the old Fourth Division, but the fans were still there then and we will still be here next season no matter what league we are in."
Owen Jervis, aged 63, from Worsley, added: "It's alright for Eddie Davies to right off £170 million in debt, but we are still losing £1 million a month.
"We have about 50 players on the books but we still can't put out a decent 11 on a Saturday. We have this big academy but we never seem to get any players through from there.
"I would love to know what Eddie Davies has been doing. Has he just been watching the club's money just slip away or has he been really trying to save us?"
Source
Ahead of Saturday's defeat to Cardiff, The Bolton News spoke to Whites fans outside the Macron Stadium about the club's plight and the lingering threat of administration.
Potential new owner Dean Holdsworth, whose Sports Shield Investment company is thought to be in pole position to buy Wanderers from Eddie Davies, was at the match, and supporters are keen for a rapid resolution.
Barry Wilson, aged 62, from Over Hulton, said: "As a fan, it's very difficult to comment on what is happening because we aren't being given the facts.
"We are told that the various groups who want to buy the club don't meet all of the criteria, but we don't know what the criteria are.
"The club needs to move on and whoever comes has to be prepared to invest enough money and effort to take the club forward. If they are, then that's wonderful.
"It would be absolutely tragic if we went into administration. Three years ago we were in the Premier League and now we could be heading for League One."
Gary Howell, from Bolton, took Saturday's opponents as an example of what significant investment and ambition could bring to the Macron.
The 41-year-old said: "Look at someone like Vincent Tan at Cardiff and the money he put into the club. Yes, they are back in the Championship now but they had a season in the Premier League.
"We need someone who is willing to come in and buy some quality players, not just bringing people in on loans and free transfers. We need more people here at every level who really care about the club."
Tony Howarth, aged 69, from Halliwell, said: "The fans need to know how we got into this state in the first place.
"When Neil Lennon came in last season he was so optimistic about what could happen here, but he has been badly let down by the people who run the club.
"I don't mind who takes over as long as it is someone who can actually take the club forward. A club of this size should be in a far better position than we are now."
Steve Raynor, aged 66, travels from Macclesfield for Wanderers games and expects the fans to stick by the club regardless of what division they are in next season.
He said: "I think what a lot of people are disgruntled with is the Warburtons because they don't seem to have helped the club at all.
"We are paying inflated wages for a big squad that isn't good enough. Signing Heskey and Ameobi have both been big mistakes, in my opinion. We should be giving the kids a chance instead, like they do in other countries.
"This reminds me of the 70s when we were barely surviving in the old Fourth Division, but the fans were still there then and we will still be here next season no matter what league we are in."
Owen Jervis, aged 63, from Worsley, added: "It's alright for Eddie Davies to right off £170 million in debt, but we are still losing £1 million a month.
"We have about 50 players on the books but we still can't put out a decent 11 on a Saturday. We have this big academy but we never seem to get any players through from there.
"I would love to know what Eddie Davies has been doing. Has he just been watching the club's money just slip away or has he been really trying to save us?"
Source