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Funds raised by a joint business venture on land at the Macron Stadium have been secured against the Whites Hotel, it has emerged.
Prescot Business Park (PBP) Ltd agreed to co-fund a retail development with the club on the North Stand car park last month, with detailed plans expected in the spring.
An advance of £5.5million was given to Wanderers, which gave the club much-needed short-term funding in their efforts to avoid administration.
But the Companies House website reveals that the money has been secured with two "charges" — one against the hotel business and another against the banqueting facilities and the Premier Suite.
The agreement with Prescot Business Park Ltd will stay in place until the retail development has been agreed, given planning permission and is operational.
The club declined to comment on the matter other than to confirm that the money had been secured against the hotel.
The deal effectively offers financial protection to Prescot Business Park Ltd should Wanderers go into liquidation.
The £5.5 million would then be paid back to the company using cash from the sale of the hotel.
The Bolton News previously reported that an advance of about £6 million had been secured against "development on the land".
Wanderers had to seek a validation order from the High Court in January to allow their bank account to be un-frozen and the transaction to take place.
The club said at the time: "This further agreement provides much-needed short term funding, extends and progresses the long leasehold interests and joint venture development concept over the Macron Stadium North car parks that the parties had first entered into last year.
"Prescot Business Park Ltd and the club now intend to bring forward detailed development proposals later in the Spring, although the whole project is expected to take a number of years.
"The club had previously been in advanced discussions with Middlebrook Business Park Limited, but ultimately a deal could not be concluded."
According to Companies House, the two directors of Prescot Business Park Ltd are 62-year-old Thomas Morris and 57-year-old Michael James.
The company has a correspondence address in Chorley New Road and was first established in August 2010.
Liverpool based Mr Morris is also listed as a director of T.J. Morris Ltd, the trading name of Home Bargains, one of the country's largest discount retailers.
Mr Morris is worth more than £2 billion, and is thought to be among the richest people in the North West.
Industrial property specialist Mr James is known to be a big Whites fan.
His late father Michael helped set up toilet roll company F.H. Lee Ltd alongside Wanderers legend Francis Lee.
Wanderers are currently under a complete financial lockdown as they await another High Court hearing on Monday, February 22, over a £3 million unpaid tax and VAT bill.
HMRC have petitioned for the club to be wound up completely but Wanderers are hoping a new owner will be in place by the weekend, which will stave off that threat and allow the debt to be repaid.
A spokesman for Mr Morris declined to comment.
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Prescot Business Park (PBP) Ltd agreed to co-fund a retail development with the club on the North Stand car park last month, with detailed plans expected in the spring.
An advance of £5.5million was given to Wanderers, which gave the club much-needed short-term funding in their efforts to avoid administration.
But the Companies House website reveals that the money has been secured with two "charges" — one against the hotel business and another against the banqueting facilities and the Premier Suite.
The agreement with Prescot Business Park Ltd will stay in place until the retail development has been agreed, given planning permission and is operational.
The club declined to comment on the matter other than to confirm that the money had been secured against the hotel.
The deal effectively offers financial protection to Prescot Business Park Ltd should Wanderers go into liquidation.
The £5.5 million would then be paid back to the company using cash from the sale of the hotel.
The Bolton News previously reported that an advance of about £6 million had been secured against "development on the land".
Wanderers had to seek a validation order from the High Court in January to allow their bank account to be un-frozen and the transaction to take place.
The club said at the time: "This further agreement provides much-needed short term funding, extends and progresses the long leasehold interests and joint venture development concept over the Macron Stadium North car parks that the parties had first entered into last year.
"Prescot Business Park Ltd and the club now intend to bring forward detailed development proposals later in the Spring, although the whole project is expected to take a number of years.
"The club had previously been in advanced discussions with Middlebrook Business Park Limited, but ultimately a deal could not be concluded."
According to Companies House, the two directors of Prescot Business Park Ltd are 62-year-old Thomas Morris and 57-year-old Michael James.
The company has a correspondence address in Chorley New Road and was first established in August 2010.
Liverpool based Mr Morris is also listed as a director of T.J. Morris Ltd, the trading name of Home Bargains, one of the country's largest discount retailers.
Mr Morris is worth more than £2 billion, and is thought to be among the richest people in the North West.
Industrial property specialist Mr James is known to be a big Whites fan.
His late father Michael helped set up toilet roll company F.H. Lee Ltd alongside Wanderers legend Francis Lee.
Wanderers are currently under a complete financial lockdown as they await another High Court hearing on Monday, February 22, over a £3 million unpaid tax and VAT bill.
HMRC have petitioned for the club to be wound up completely but Wanderers are hoping a new owner will be in place by the weekend, which will stave off that threat and allow the debt to be repaid.
A spokesman for Mr Morris declined to comment.
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