Bolton Wanderers Will Not Enter Administration

  • September 12, 2018 | By Chris Mann
  • URL Short URL: http://b-ac.es/daf52

Bolton Wanderers have avoided being placed into administration and will not receive a points deduction from the EFL.

Wanderers, who have battled through financial peril on numerous occasions in recent years, were at threat of administration over an unpaid loan to BluMarble amounting to a figure in the region of £5million.

Trotters chairman Ken Anderson has moved to end speculation, however, saying the sum has been repaid and that monies owed to other parties have been renegotiated on terms that will allow the club to continue operating successfully.

"Following on from all the speculation, I am pleased to confirm that the loan from BluMarble Capital Ltd has been repaid," Anderson told bwfc.co.uk.

"I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club and I am extremely grateful for the continued support, help and assistance of Michael and Brett.

"I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5m and will be of great assistance to the club going forward.

"As previously stated, I believe the club now has one of the lowest debt positions in the Championship.

"I am also pleased to confirm that the club did not go into administration and there are no points deductions or embargo implications.

"I fully appreciate and understand that the last couple of days have caused some consternation for you all, and I would like to apologise for that, but the whole process has been very complex and far from easy.

"We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.

"I would like to thank you all for your patience and we can all look forward to a season of progress both on and off the pitch."

Football betting site Betway

Sky Bet Championship Standings

Pos Team Pld Pts
20 Reading 17 16
21 Millwall 17 16
22 Hull City 17 16
23 Bolton Wanderers 17 16
24 Ipswich Town 17 11
View Full Standings >>

Poll

Who is Bolton's 2017/18 Player of the Year?
53.85% Ben Alnwick
13.11% Sammy Ameobi
10.49% Karl Henry
8.39% Antonee Robinson
4.98% David Wheater
3.41% Mark Beevers
2.1% Mark Little
1.84% Josh Vela
1.57% Darren Pratley
0.26% Reece Burke