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Bolton Nuts » BWFC » Bolton Wanderers News » "It's a mystery" - Trust chief asks why Eddie Davies's trust has not stepped up

"It's a mystery" - Trust chief asks why Eddie Davies's trust has not stepped up

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karlypants

karlypants
Nat Lofthouse
Nat Lofthouse
Late Wanderers owner Eddie Davies and the people responsible for his trust legacy must shoulder some responsibility for the financial mess at Wanderers, it has been claimed.

Bolton Wanderers Supporters’ Trust chairman Terrence Rigby believes credible buyers were turned away in late December 2015 and early 2016 before Ken Anderson and Dean Holdsworth completed their takeover under the auspices of Sports Shield BWFC.

“The roots of where we are now go back way over three years,” Mr Rigby told Monday night’s fans’ forum. “They go back to when the late Eddie Davies no longer wished to fund the club and wished to sell the club.

“I know there were a number of interested parties, some whom had substantial funds and business plans in order to take Bolton back to the Premiership, where we might think we belong.

“All of them, for one reason or another, were sent away. And for reasons which now seem wholly inexplicable he sold it for a pound to Dean Holdsworth.

“Before he did that – I mean ‘he’ through his representatives Trevor Birch, his solicitor Kier Gordon, who were involved – he basically mortgaged or sold whatever there was to mortgage or sell.”

Moonshift have also got an option to reclaim shares owned by Anderson in Burnden Leisure if he failed to pay a £5m loan supplied by Davies days before he passed away last September.

“They are in a position to take over the club or put it into administration,” Mr Rigby claimed.

“That they have not done so is a mystery and it may well be regrettable.

“Their thinking may be that if they were to take over the club, either while solvent or in administration, that they would become responsible for the ongoing considerable losses if they couldn’t sell it.”

Source

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