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WANDERERS’ attempts to find new investment have been dealt a blow after owner Ken Anderson revealed potential buyers for the club have failed to produce the goods.
Having billed a £30million race between parties from the US and the Middle East as ‘first past the post’ just last month – Anderson has now been forced to concede the talks have not advanced as he had hoped.
The Bolton News has learned that two big-money backers were recommended to Anderson by a top Premier League fixer but despite weeks of discussion, it is claimed neither has produced adequate proof of funds to take the deal forward.
Both bids had been heavily endorsed by a trusted third party and researched – prompting Anderson’s hubris – but the lack of progress has now forced him into a public climb-down, bringing with it a fair amount of criticism from the Wanderers fans.
Another consortium, comprising some local businessmen and a major backer from Ireland, has also expressed a serious interest – but, again, progress has been slow.
Anderson voiced his disappointment yesterday via Wanderers’ official website.
“I am afraid that despite assurances, the potential investors I mentioned last month have yet to be able to provide proof of the their ability to finance any proposed purchase,” he said.
“Before I will allow anyone to consume the huge time commitment that the due diligence process will place upon our staff, I need to be satisfied that any potential investor has the ability to provide both the source and availability of their funds to satisfy the financial requirements of the EFL.
“Without this comfort it would be impossible for any acquisition to proceed but I can assure supporters I am very receptive to finding someone who has the financial ability to bring back the success we all want for our club.
“I will welcome anyone who can pick up the baton from me and get us back to the heights enjoyed during Eddie Davies’s ownership of the club.
“Whilst there are a number of interested parties out there purporting to have the ability to buy a football club, you will see from the very small number of clubs that have successfully found new owners how many timewasters there are in the market.
“I reiterate my previous statement that I am fully committed to finding investment and that the perceived lack of progress is not due to any unreasonable demands from myself.
“I continue to maintain that this club offers a serious investor the best value of any team outside of the Premier League and myself and the senior staff will work diligently to find the right custodian to take the club forward.”
https://www.theboltonnews.co.uk/sport/17266166.sale-hopes-dashed-for-bolton-wanderers-chairman-ken-anderson/
Having billed a £30million race between parties from the US and the Middle East as ‘first past the post’ just last month – Anderson has now been forced to concede the talks have not advanced as he had hoped.
The Bolton News has learned that two big-money backers were recommended to Anderson by a top Premier League fixer but despite weeks of discussion, it is claimed neither has produced adequate proof of funds to take the deal forward.
Both bids had been heavily endorsed by a trusted third party and researched – prompting Anderson’s hubris – but the lack of progress has now forced him into a public climb-down, bringing with it a fair amount of criticism from the Wanderers fans.
Another consortium, comprising some local businessmen and a major backer from Ireland, has also expressed a serious interest – but, again, progress has been slow.
Anderson voiced his disappointment yesterday via Wanderers’ official website.
“I am afraid that despite assurances, the potential investors I mentioned last month have yet to be able to provide proof of the their ability to finance any proposed purchase,” he said.
“Before I will allow anyone to consume the huge time commitment that the due diligence process will place upon our staff, I need to be satisfied that any potential investor has the ability to provide both the source and availability of their funds to satisfy the financial requirements of the EFL.
“Without this comfort it would be impossible for any acquisition to proceed but I can assure supporters I am very receptive to finding someone who has the financial ability to bring back the success we all want for our club.
“I will welcome anyone who can pick up the baton from me and get us back to the heights enjoyed during Eddie Davies’s ownership of the club.
“Whilst there are a number of interested parties out there purporting to have the ability to buy a football club, you will see from the very small number of clubs that have successfully found new owners how many timewasters there are in the market.
“I reiterate my previous statement that I am fully committed to finding investment and that the perceived lack of progress is not due to any unreasonable demands from myself.
“I continue to maintain that this club offers a serious investor the best value of any team outside of the Premier League and myself and the senior staff will work diligently to find the right custodian to take the club forward.”
https://www.theboltonnews.co.uk/sport/17266166.sale-hopes-dashed-for-bolton-wanderers-chairman-ken-anderson/
