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Bolton Wanderers Supporters’ Trust were last night demanding answers of the Sports Shield consortium as the club’s ownership battle continued to hang in the balance.
Dean Holdsworth’s group were still working hard to have their bid ratified by the Football League yesterday, reporting some progress after the league had highlighted a number of potential problems with their bid earlier in the week.
It is understood some of the issues pertain to bonus payments owed to outgoing owner Eddie Davies in the next five years, including a £500,000 fee at the end of the current season.
Others relate to the business plan put forward by Sports Shield, with the league particularly keen to ensure funds are in place to cope with the possibility of relegation to League One.
If the bid is rejected at this point, with a High Court date just five days away, the league is fully aware that one of its founder members is primed to go into administration.
Things took an interesting twist yesterday as the trust went public with a series of questions of their own, requesting more clarity on the consortium’s plans.
Holdsworth has previously defended the right to protect his investors’ privacy and is likely to be facing similar scrutiny as part of the league’s owners and directors’ test.
The trust outlined 27 different questions, and defended their decision to do so on behalf of the club’s supporters.
“In asking these questions we wish to highlight the potential risks that the club might face, not only to relegation to League One this year, but ensuring that the issue of stability is at the forefront of plans now. It would be wrong of us to blindly hope for the best.”
If the league reject Sports Shield’s takeover The Bolton News understands that Wanderers have already made provisions for administration, which will include the appointment of top business advisors BDO-UK as potential administrators.
Under Football League rules, the trust would be given 28 days before a period of exclusivity could be granted to any other party – which would leave them in pole position to buy the club if Sports Shield’s bid collapses.
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Dean Holdsworth’s group were still working hard to have their bid ratified by the Football League yesterday, reporting some progress after the league had highlighted a number of potential problems with their bid earlier in the week.
It is understood some of the issues pertain to bonus payments owed to outgoing owner Eddie Davies in the next five years, including a £500,000 fee at the end of the current season.
Others relate to the business plan put forward by Sports Shield, with the league particularly keen to ensure funds are in place to cope with the possibility of relegation to League One.
If the bid is rejected at this point, with a High Court date just five days away, the league is fully aware that one of its founder members is primed to go into administration.
Things took an interesting twist yesterday as the trust went public with a series of questions of their own, requesting more clarity on the consortium’s plans.
Holdsworth has previously defended the right to protect his investors’ privacy and is likely to be facing similar scrutiny as part of the league’s owners and directors’ test.
The trust outlined 27 different questions, and defended their decision to do so on behalf of the club’s supporters.
“In asking these questions we wish to highlight the potential risks that the club might face, not only to relegation to League One this year, but ensuring that the issue of stability is at the forefront of plans now. It would be wrong of us to blindly hope for the best.”
If the league reject Sports Shield’s takeover The Bolton News understands that Wanderers have already made provisions for administration, which will include the appointment of top business advisors BDO-UK as potential administrators.
Under Football League rules, the trust would be given 28 days before a period of exclusivity could be granted to any other party – which would leave them in pole position to buy the club if Sports Shield’s bid collapses.
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