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Time is running out for Ken Anderson to sell Wanderers and avoid administration – but club legend John McGinlay believes there is still hope on the horizon.
Phil Parkinson’s side resume their fight against relegation at Leeds United tomorrow against a backdrop of due debts which could ultimately end up costing them their place in the Championship.
Anderson has confirmed he is in talks with one buyer, believed to be the Football Ventures consortium, but the spectre of administration – and a 12-point penalty - is looming large as the debts continue to stack up without the cash to pay them.
The owner has courted controversy throughout his near three-year reign but nevermore so than over the last few months when reports of escalating financial problems have been venomously counterattacked through the club’s official website.
McGinlay believes Wanderers have reached a crucial juncture in sale talks but reads little into his latest missives, published on Wednesday.
“I don’t really know what his notes are about any more,” he told The Bolton News. “He says he is being transparent but who’s he kidding?
“I think it’s just a case of pride or ego making him think he has to put something out there.
“When he says something about ticket prices or strips, I can understand that. There’s a logic to it, this is all politics.
“I’m sure he’s nervous at the moment but make no mistake about it, the club has been run into the ground.
“There are still somehow people who look at it and say ‘he’s keeping it going, he’s doing a decent job’ but I disagree. There are lots of people out there who could have plugged gaps, kicked debts down the road. I think this comes down to what money he wants on the way out, pure and simple.”
Wanderers go to Elland Road tomorrow sitting behind Rotherham and Reading, who face each other at the Madejski Stadium.
McGinlay feels a change of ownership could yet save the season and bring back some of the stay-away supporters who have refused to back Anderson in recent months.
“I’m surprised we’re still in touch but that’s the biggest bonus we have got at the moment,” he said. “It’s not a huge gap to the teams above us and not matter what anyone says, I think this group of players should be doing better than they are.
“I honestly think it’s a matter of how quickly this sale can be done now. Fresh impetus, fresh direction, the place would be completely different.
“I’ve never known morale be so low around the place. There’s a mistrust in the club and it’s so sad to see people so down. But it can change quickly.
“It just needs that little peek of daylight, a little spark, and the town will back the club again, I am sure of it. People will come back.”
Though the fate of a takeover seems to rest in Anderson settling a £5million loan owed to the estate of former owner Eddie Davies, plus future bonuses, McGinlay reckons next week’s pay day could be the biggest indication of where the club goes next.
The former Scotland international has backed Parkinson’s experience first team squad to cope with the uncertainty but says the impact is more significant elsewhere.
“I don’t think it’s their (the senior squad’s) biggest worry,” he said. “I’d worry about the younger ones who can’t afford to put petrol in the car or pay for digs.
“You treat players well and they will treat you well. I can understand why they feel aggrieved at times when there is always that uncertainty.
“Staff behind the scenes are the ones worrying. It’s OK saying ‘they got paid’ but every month it’s the same, they don’t know, nobody says a thing, they don’t even know what time of day it will be.
“Local companies employing local people are being stretched paper thin because they money just isn’t getting there.
“It’s been well documented that Paul Heathcote has been owed large sums. He’s a staunch Bolton fan, has been his whole life, he employs hundreds of local people and struggles to keep things going at times because of the lack of payment.
“It isn’t just Paul, it’s local businesses and suppliers all over. I’d like to know how many jobs have been lost because of all this?
“There’s a huge sum of money owed to the council – which we’re all paying for – and that to me is a concern because where is that money supposed to be being used? It’s the town that suffers.”
Anderson confirmed he has agreed ‘head of terms’ with one buyer, which outlines the basic deal to be done.
The consortium in question looks most likely to be the one headed by Parminder Basran and Sharron Brittan, and though little is known about their plans for the club, McGinlay feels stability is the biggest thing they could offer. “This club needs an owner who can get the town behind its football club again, because the people will back it,” he said. “We have been unlucky in the last few years with everything that has gone on. It has been tough.
“We’ve seen good times, we’ve seen bad times in this town. We will survive.
“But something needs to happen soon because people are drifting off and finding better things to do with their time and money. The damage done will be hard to repair.
“This whole situation has gone on far too long and some of it has been down to good fortune on the owner’s part. Each time it has looked like the well has run dry another player has been sold, staved off the inevitable for a bit longer. All the crown jewels have gone now.
“The squad we have now has a choice – do they want to earn a move elsewhere in the summer, or do they want to fight and earn another deal? They have something to prove.
“Do they want to stay under a new regime and hopefully experience what it is really like to play at Bolton Wanderers?”
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Phil Parkinson’s side resume their fight against relegation at Leeds United tomorrow against a backdrop of due debts which could ultimately end up costing them their place in the Championship.
Anderson has confirmed he is in talks with one buyer, believed to be the Football Ventures consortium, but the spectre of administration – and a 12-point penalty - is looming large as the debts continue to stack up without the cash to pay them.
The owner has courted controversy throughout his near three-year reign but nevermore so than over the last few months when reports of escalating financial problems have been venomously counterattacked through the club’s official website.
McGinlay believes Wanderers have reached a crucial juncture in sale talks but reads little into his latest missives, published on Wednesday.
“I don’t really know what his notes are about any more,” he told The Bolton News. “He says he is being transparent but who’s he kidding?
“I think it’s just a case of pride or ego making him think he has to put something out there.
“When he says something about ticket prices or strips, I can understand that. There’s a logic to it, this is all politics.
“I’m sure he’s nervous at the moment but make no mistake about it, the club has been run into the ground.
“There are still somehow people who look at it and say ‘he’s keeping it going, he’s doing a decent job’ but I disagree. There are lots of people out there who could have plugged gaps, kicked debts down the road. I think this comes down to what money he wants on the way out, pure and simple.”
Wanderers go to Elland Road tomorrow sitting behind Rotherham and Reading, who face each other at the Madejski Stadium.
McGinlay feels a change of ownership could yet save the season and bring back some of the stay-away supporters who have refused to back Anderson in recent months.
“I’m surprised we’re still in touch but that’s the biggest bonus we have got at the moment,” he said. “It’s not a huge gap to the teams above us and not matter what anyone says, I think this group of players should be doing better than they are.
“I honestly think it’s a matter of how quickly this sale can be done now. Fresh impetus, fresh direction, the place would be completely different.
“I’ve never known morale be so low around the place. There’s a mistrust in the club and it’s so sad to see people so down. But it can change quickly.
“It just needs that little peek of daylight, a little spark, and the town will back the club again, I am sure of it. People will come back.”
Though the fate of a takeover seems to rest in Anderson settling a £5million loan owed to the estate of former owner Eddie Davies, plus future bonuses, McGinlay reckons next week’s pay day could be the biggest indication of where the club goes next.
The former Scotland international has backed Parkinson’s experience first team squad to cope with the uncertainty but says the impact is more significant elsewhere.
“I don’t think it’s their (the senior squad’s) biggest worry,” he said. “I’d worry about the younger ones who can’t afford to put petrol in the car or pay for digs.
“You treat players well and they will treat you well. I can understand why they feel aggrieved at times when there is always that uncertainty.
“Staff behind the scenes are the ones worrying. It’s OK saying ‘they got paid’ but every month it’s the same, they don’t know, nobody says a thing, they don’t even know what time of day it will be.
“Local companies employing local people are being stretched paper thin because they money just isn’t getting there.
“It’s been well documented that Paul Heathcote has been owed large sums. He’s a staunch Bolton fan, has been his whole life, he employs hundreds of local people and struggles to keep things going at times because of the lack of payment.
“It isn’t just Paul, it’s local businesses and suppliers all over. I’d like to know how many jobs have been lost because of all this?
“There’s a huge sum of money owed to the council – which we’re all paying for – and that to me is a concern because where is that money supposed to be being used? It’s the town that suffers.”
Anderson confirmed he has agreed ‘head of terms’ with one buyer, which outlines the basic deal to be done.
The consortium in question looks most likely to be the one headed by Parminder Basran and Sharron Brittan, and though little is known about their plans for the club, McGinlay feels stability is the biggest thing they could offer. “This club needs an owner who can get the town behind its football club again, because the people will back it,” he said. “We have been unlucky in the last few years with everything that has gone on. It has been tough.
“We’ve seen good times, we’ve seen bad times in this town. We will survive.
“But something needs to happen soon because people are drifting off and finding better things to do with their time and money. The damage done will be hard to repair.
“This whole situation has gone on far too long and some of it has been down to good fortune on the owner’s part. Each time it has looked like the well has run dry another player has been sold, staved off the inevitable for a bit longer. All the crown jewels have gone now.
“The squad we have now has a choice – do they want to earn a move elsewhere in the summer, or do they want to fight and earn another deal? They have something to prove.
“Do they want to stay under a new regime and hopefully experience what it is really like to play at Bolton Wanderers?”
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