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WANDERERS face being expelled from the EFL if they cannot produce a compelling argument for their takeover by tomorrow evening.
The league’s board want evidence that the Football Ventures consortium can complete the purchase of the club quickly – or that administrators can continue paying the bills. If they fail to satisfy their demands a 14-day notice will be triggered to remove their membership.
Club staff were told a sale was imminent on Thursday and Friday but The Bolton News understands that an 11th hour change in demands from former owner Ken Anderson was the trigger for the deal derailing once again.
Attempts were being made last night to smooth over a dispute which consequently arose between Anderson and the Fildraw Trust, who are responsible for the affairs of late owner Eddie Davies.
Cash is in short supply and wages for 150 employees are due at the end of the week. Concerns have been raised by senior staff about the administrators’ ability to pay them.
The possibility of placing the business into liquidation has even been discussed, if the problems are not cleared quickly.
The league accused the club of producing “constantly contradicting information” which initially had convinced them to allow Wanderers to start the season at Wycombe.
“The current situation cannot continue and the time to resolve the current impasse is now fast running out,” a statement read. “Whilst it is understood as recently as yesterday (Friday) that the parties were once again in a position to complete the formalities, there appears to be additional frustrating delays that are only serving to have a negative and detrimental impact.
“The EFL urges all parties to communicate and come together to find the necessary and final solutions so that Bolton Wanderers can start to plan for its long term future and end months of uncertainty for all those associated with the club, in particular the players, staff, supporters and the local Bolton community.
“If a successful conclusion to a sale is not found or there are no credible plans for the club to continue the season in administration by the planned board meeting at 5pm on Tuesday, August 27 2019, then the EFL board will consider lifting the suspension on the Notice of Withdrawal of the club's membership of the league which was issued when the club entered into administration in May 2019.”
https://www.theboltonnews.co.uk/sport/17860141.takeover-delay-prompts-concern-bolton-wanderers/
The league’s board want evidence that the Football Ventures consortium can complete the purchase of the club quickly – or that administrators can continue paying the bills. If they fail to satisfy their demands a 14-day notice will be triggered to remove their membership.
Club staff were told a sale was imminent on Thursday and Friday but The Bolton News understands that an 11th hour change in demands from former owner Ken Anderson was the trigger for the deal derailing once again.
Attempts were being made last night to smooth over a dispute which consequently arose between Anderson and the Fildraw Trust, who are responsible for the affairs of late owner Eddie Davies.
Cash is in short supply and wages for 150 employees are due at the end of the week. Concerns have been raised by senior staff about the administrators’ ability to pay them.
The possibility of placing the business into liquidation has even been discussed, if the problems are not cleared quickly.
The league accused the club of producing “constantly contradicting information” which initially had convinced them to allow Wanderers to start the season at Wycombe.
“The current situation cannot continue and the time to resolve the current impasse is now fast running out,” a statement read. “Whilst it is understood as recently as yesterday (Friday) that the parties were once again in a position to complete the formalities, there appears to be additional frustrating delays that are only serving to have a negative and detrimental impact.
“The EFL urges all parties to communicate and come together to find the necessary and final solutions so that Bolton Wanderers can start to plan for its long term future and end months of uncertainty for all those associated with the club, in particular the players, staff, supporters and the local Bolton community.
“If a successful conclusion to a sale is not found or there are no credible plans for the club to continue the season in administration by the planned board meeting at 5pm on Tuesday, August 27 2019, then the EFL board will consider lifting the suspension on the Notice of Withdrawal of the club's membership of the league which was issued when the club entered into administration in May 2019.”
https://www.theboltonnews.co.uk/sport/17860141.takeover-delay-prompts-concern-bolton-wanderers/