OFFICIAL - Laurence Bassini - New Owner

Exclusive: Twice-bankrupt former Watford owner Laurence Bassini agrees deal to buy Bolton

Former Watford owner Laurence Bassini has announced he has agreed a deal to buy Bolton Wanderers.
Bassini told Telegraph Sport he will become the new owner of the crisis club subject to English Football League approval.
“A deal has been concluded,” he said.
More to follow...

[You must be registered and logged in to see this link.]

[You must be registered and logged in to see this image.]

I'd take a consortium of Robert Mugabe, Pol Pot, Baby Doc Duvalier and Jim Jones as long as it got us rid of Kenocchio so to get Bassini is a bonus 

Laurence Bassini closes in on takeover at Bolton Wanderers

LAURENCE Bassini claims to have agreed a deal to buy Ken Anderson’s 94.5 per cent stake in Bolton Wanderers’ parent company, Burnden Leisure Ltd.

The former Watford owner is expected to pay a nominal amount to Ken Anderson for the shares up front and has vowed to clear up the bills which have escalated in recent months.

Staff at the stadium have been told a deal will be done imminently – and though this is not the first time such a promise has been made, various media sources are now suggesting the 49-year-old businessman has now got the deal over the line.

Anderson, who is currently in the US, confirmed today he has ceased funding the club and is understood to have seriously considered placing the business into administration this week.
A solvent deal now appears to have been agreed, although there has been no official confirmation as yet from the University of Bolton Stadium.

More to follow…

NOTE NOW UPDATED -

A club statement said: "Bolton Wanderers Football Club are delighted to announce that a sale and purchase agreement has been signed which will see Ken Anderson's shareholding in Burnden Leisure Limited being sold to Mr Laurence Bassini.
"This agreement will give Laurence Bassini full control of Burnden Leisure Limited and of course both Bolton Wanderers Football Club and Whites Hotel.
"The change of ownership requires approval by the English Football League before the deal can be finalised. The financial terms of the transaction will remain private and confidential between the parties.

"We are sure supporters will be very pleased to understand that as part of the transaction, all of the existing loans to the club will be settled in full and the associated charges removed, meaning the business will be debt free for the first time in many years."

Outgoing Chairman Ken Anderson said: "I am very pleased to hand over ownership of this great club to Laurence, I wish him and all of our supporters the very best for the future."

[You must be registered and logged in to see this link.]

Not sure if this is finally good news or not.

Cajunboy wrote:Not sure if this is finally good news or not.

Got to be better than the alternative surely?

True.

At least there is some hope starting  in League one without a twelve point deduction.


It's going to be an interesting close season.

This is fantastic news, I can't believe all the negativity.

We'll be in the PL in 3 years*.

* not if Parky is manager.

Club confirmed it now.

Official -

Bolton Wanderers Football Club are delighted to announce that a sale and purchase agreement has been signed which will see Ken Anderson's shareholding in Burnden Leisure Limited being sold to Mr Laurence Bassini.
This agreement will give Laurence Bassini full control of Burnden Leisure Limited and of course both Bolton Wanderers Football Club and Whites Hotel.
The change of ownership requires approval by the English Football League before the deal can be finalised. The financial terms of the transaction will remain private and confidential between the parties.
We are sure supporters will be very pleased to understand that as part of the transaction, all of the existing loans to the club will be settled in full and the associated charges removed, meaning the business will be debt free for the first time in many years.
Outgoing Chairman Ken Anderson said: "I am very pleased to hand over ownership of this great club to Laurence, I wish him and all of our supporters the very best for the future."
Prior to the ratification by the EFL, significant funds will be immediately be made available to the club enabling the payment of the outstanding wages to the players and coaching staff along with a number of the long term creditors.
Once completion has occurred, all the long terms debts to HMRC and suppliers will be settled.
Further comments including an interview with Mr Bassini will follow in due course.

[You must be registered and logged in to see this link.]

His record of success is quite startling. Again don't get the negativity .

Most business owners fail and commit corruption at least 4 or 5 times.

Well, I nearly choked on my fishless fingers. Progress at last.

Time for some new slippers?

Hard Hats in Bolton's colours already on sale in shop.

In case people might have missed it, Iles Bolton News article has been up dated and this is probably the most interesting things he's added to it - 

"We are sure supporters will be very pleased to understand that as part of the transaction, all of the existing loans to the club will be settled in full and the associated charges removed, meaning the business will be debt free for the first time in many years."

Cajunboy wrote:Time for some new slippers?

I intend to email Mr Bassini. The choice of slippers in the club shop is dismal. They only seem to sell mules, which aren't real slippers anyway.
I'm sure he'll see reason.

Cajunboy wrote:Hard Hats in Bolton's colours already on sale in shop.

Do they have BWFO on them?

In June 2014 Bassini was made bankrupt for the second time.The bankruptcy order was made after Bassini failed to pay the sum of £37,500

I hope he's become the front man for an Asian drug smuggling cartel or something

There have been a lot of questions about whether or not he has backers or has acquired enough dosh to run a football club since his last bankruptcy, but if the debts are to be settled he must have some money. Whether or not it's enough to take us to the Prem in 3 years is another story - but I'd love to see his business plan. Maybe the hard hat is a clue?

Well all though we may be underwhelmed IF all the debts are cleared then surely this is better than what was on the table this morning.