One of the founding clubs of the English Football league, Bolton Wanderers have been saved from extinction.
It has just been announced that Football Ventures has completed the takeover of Bolton Wanderers.
Only yesterday the Trotters were given a 14-day extension to get their affairs in order or be expelled from the league and shut down permanently just as Bury FC was done.
Paul Appleton, the club administrator wasted no time and was taking no chances of last-minute hick-ups.
Regardless of the 14-day cushion, he continued tirelessly working to find a solution to the protracted deal that was thought to be dead.
Only moments ago he told Bolton’s official website:
“I’m delighted to say we have finally reached a satisfactory conclusion with the sale to Football Ventures.”
“At times, some of the hurdles appeared insurmountable and the frustration felt has been immense, not least by the supporters who have had to endure too many weeks of uncertainty.”
“I would like to pay particular tribute to the Eddie Davies Trust and their legal team who, throughout this whole process.”
“They have been willing to do everything in their power to ensure Eddie’s incredible legacy was maintained and not sullied.”
“Even at the 11th hour when other parties were content to renege on their agreements, the Trust realised the very existence of Bolton Wanderers was at stake.”
“They were willing to find a compromise to save the club.”
“It is a testament to their unflinching determination to do what was best for Bolton that we are able to complete the deal today.”
Appleton continued and did not hold back when it came to the inadequacies of former owner Ken Anderson:
“The Trust were forced to constantly compromise their position in the face of circumstances and demands which were wholly unreasonable.”
“This says much about their determination not to allow Eddie’s beloved Bolton Wanderers to suffer any longer at the hands of Ken Anderson.”
“Sadly, Mr Anderson has used his position as a secured creditor to hamper and frustrate any deal that did not benefit him or suit his purposes.”
“Thankfully, with the assistance of the Trust and others, we were able to overcome this obstacle.”
“I would especially like to thank both my team and my lawyers who worked around the clock to find solutions to problems which certainly threatened to derail the whole process.”
“I have every sympathy for the staff, players and fans who have been forced to stand by while their club was taken to the brink.”
“I am delighted their loyalty, dedication and patience have finally been rewarded.”
“Of course, there will be difficult times ahead while the club gets back on its feet but there are too many people with Bolton close to their hearts for it not to be successful once more.”
“Now there can be a fresh start with owners who, I believe, will run the club for the good of the supporters and the community as a whole.
“For everything the fans have had to endure, they deserve nothing less.”
📰 Statement from Football Ventures (Whites) Limited
— Bolton Wanderers FC (@OfficialBWFC) August 28, 2019