Bolton Wanderers more than likely will end up going into administration unless a buyer for the football club is found within the next 48 hours according to The Bolton News. This will only be avoiding if one of the four interested parties provide suitable proof that they can cover the £14million costs to pay off the debt.
Staff at the Macron Stadium have been told that unless the above is found then Bolton Wanderers will explore the relevant avenues in order to enter administration. It addition to a buyer proving they can cover the debt, the party would also need to provide suitable evident that they can also continue to finance the general running of the football club.
Trading whilst officially in administration is a highly-expensive procedure and would therefore mean that players would be sold to finance this action. As the most prized assets, Zach Clough and Mark Davies almost certainly would leave the Macron Stadium.
Wigan Athletic are said to be interested in purchasing the club’s Euxton training ground for £2.5million, whilst offices sold at the stadium also generated £4million. That was used to pay off a loan taken out in August and also paid staff costs last month.
Owner Eddie Davies has said that he would waive off the £180million-plus loans that have been generated since he took over the football club in December 2013. He also revealed he would sell the club for £1 but The Bolton News understand that Davies has £3million in loans to the club that will not be written off.
It is also believed that Sports Shield consortium, headed by former Trotters striker Dean Holdsworth, is the front-running party, however there are other options being explored by the club. Trevor Birch has supposedly met with a representative of the consortium last night.