Supporters' Trust Announce Plans to Buy Bolton Wanderers

  • January 28, 2016 | By Chris Mann
  • URL Short URL: http://b-ac.es/71102

The Bolton Wanderers Supporters' Trust (BWFCST) have written to Eddie Davies, stating their desire and intention to purchase a stake in the club.

Davies, who has owned a majority share in Wanderers since 2003, is ready to sell the club for as little as £1, although any deal is reported to hinge on potential new owners clearing the balance of outstanding loans owed to directors and proof that they can guide the club forward financially beyond the end of the season.

After the Sports Shield Consortium, spearheaded by ex-forward Dean Holdsworth, were hit by complications in their own attempts to buy Bolton, BWFCST have now launched a bid of their own, backed by local institutions and businesses, and have requested that they be named preferred bidders by Davies himself.

An official statement, posted at bwfcst.co.uk, read: "In line with the Trust's objectives and rules, which include 'achieving the greatest possible supporter and community influence in the running and ownership of the Club', BWFCST has been in regular dialogue with the Club's management regarding its sale.

"We have written to the owner, Eddie Davies. We have expressed our commitment to help lead an acquisition, in conjunction with local institutions and businesses, from whom we have received a very positive response. Our objective is to raise sufficient funding to secure the future of the Club for the benefit of the supporters, the community and the town. We would not engage with anyone who didn’t share our commitment to a community investment.

"We have requested immediate access to management and financial information and preferred bidder status.

"We would make every effort to achieve a solvent purchase, to avoid losses for creditors and a points deduction. This could only be assessed and confirmed once the above access is granted, to enable us to establish the extent and timing of the funding needed. If administration proved unavoidable, we would work with the Club to make the best of that situation. If we believe that a supporter led takeover is feasible, we will consult with supporters before moving forward with a bid.

"Ideally, we would have started this process once membership fees had been taken, an AGM held and a board voted in, but time is against us and we have had to act now to try to secure the Club's future. We continue to take guidance from Supporters Direct, who have 15 years' experience of helping supporters at other clubs through similar situations."

Sky Bet League One Standings

Pos Team Pld Pts
1 Accrington Stanley 0 0
2 Barnsley 0 0
3 Bolton Wanderers 0 0
4 Bristol Rovers 0 0
5 Burton Albion 0 0
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