Basran Breaks Silence Over Football Ventures Departure

  • August 15, 2019 | By Chris Mann
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Parminder Basran, formerly of Football Ventures (Whites) Limited, has broken silence over his resignation from the consortium.

Basran, who made his fortune in food manufacture, hotels and restaurants, had initially fronted a takeover bid for Bolton alongside business associate Sharon Brittan - before later being joined by the duo of Michael James and Jeff Thomas.

He stepped away from the group earlier in the year, with his resignation being confirmed at Companies House on July 2, but had remained tight-lipped over the reason why until now.

In an exchange with Wanderers supporters on Twitter, Basran revealed the enormity of the rebuilding job was just too much.

"It became apparent around April that this was a huge undertaking and I wasn't going to be able to give it the time it deserves," Basran posted on Twitter. "Sharon and Jeff are good people.

"This project needs time. League One, -12 points, transfer embargo, two senior players. It's complicated."

Those comments were quickly followed by responses from fans, including one who suggested the project taken on by any potential new owner would require huge sums of money.

"Sure, it would be great," Basran responded. "But last time I checked, I didn't see a queue of billionaires lining up on De Havilland Way with sacks of cash and their chequebooks ready to save your great club."

Following Basran's departure, Thomas also resigned as a director on July 30. At the time of writing, only Brittan and James are registered officers of the company.

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