Bolton's Takeover Confirmed
Wednesday, 28th Aug 2019 19:05
Bolton Wanderers’ takeover, which has been in the balance since the weekend, has finally been completed, the new owners Football Ventures (Whites) Limited have announced in a statement.
There were fears that the Trotters could join Bury in being expelled from the EFL but were given an additional two weeks to resolve the issues which had previously prevented the takeover from being concluded.
From a Town perspective, Bolton’s survival means the Blues’ 5-0 victory at the University of Bolton Stadium on Saturday remains on the books and Town stay top of League One on goal difference from four other sides.
The new owners’ statement on Wanderers' official website reads: “We are privileged to announce that negotiations to transfer the ownership of Bolton Wanderers Football Club and Whites Hotel are over and we have formally completed.
“Throughout this lengthy and complicated process, we have remained focused on completion of the deal and nothing else.
“At times it has been difficult to keep our counsel but we took a decision to remain on the sidelines even when further damage was being inflicted by delays outside of our control.
“Our thoughts were always with the club staff and supporters and we worked tirelessly behind the scenes to find an agreement and prevent even more stress and uncertainty for those who have suffered far too much over the past months.
“Now we are excited to begin restoring this magnificent football club to its rightful position, securing its future for the fans, the loyal club staff, and the players.
“We are thankful to the EFL for their willingness to support our efforts along with the PFA.
"We would also like to thank the University of Bolton and Bolton Council for their backing and Bolton Wanderers Supporters Trust for its understanding.
“We understand [former manager] Phil Parkinson and [assistant] Steve Parkin’s decision to leave the club. They have behaved impeccably and loyally and we wish them both nothing but the best for whatever the future may hold.
“It is now imperative that we commence the process of appointing a manager and strengthening the team with the right players to take the club forward.
“The true spirit of this football club rests with the fans, it is nothing without them. The support shown to the players during this season’s opening fixtures has been overwhelming.
“It would be remiss of us not to say how saddened we are at the devastating news from our neighbours at Bury FC. Our hearts go out to the fans and the community.
“Now the deal is complete, please be assured we intend to do all within our power to bring back a true sense of pride to Bolton Wanderers Football Club, which is the least the staff, fans, future generations of supporters and the community deserve.”
Debbie Jevans CBE, the EFL's executive chair, said: "On behalf of the EFL board, I am pleased that the administrators appointed in respect of Bolton Wanderers Football Club have today concluded the transfer of assets with Football Ventures to place the club under new ownership and out of administration.
"Having worked closely with the administrators since their appointment in May, the EFL has been focused on working through this difficult and complex period of uncertainty with all parties.
"Following the completion of the sale, the club is no longer in administration and the notice of withdrawal issued as per the EFL’s insolvency policy has been cancelled.
"These past few months have undoubtedly been challenging and, at times fraught – never more so in the past few days - and I would like to thank all parties for their efforts in achieving the desired outcome.
"I would also like to place on record my grateful appreciation and thanks to the players, former and present management, staff and supporters for their patience and understanding in allowing us to get to this point.
"Everyone at the EFL is now looking forward to working with the new ownership during the 2019/20 campaign and beyond."
Following Bury's expulsion, Bolton are 23rd and last in League One on -11 points having been docked 12 after going into administration. They could be deducted further points for postponing last week's home game with Doncaster due to welfare concerns relating to their players without consulting the EFL or their opposition.
Photo: Action Images
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