Bolton handed League lifeline
STRUGGLING Bolton announced yesterday that the Football League have given conditional approval to the sale of the club.
The club issued a statement after a judge gave them more time to pay a £ 2.2million tax bill and refused to grant a winding- up application by HM Revenue & Customs.
Taxmen had applied for Bolton – who fell to the bottom of the Championship on Saturday after losing 2- 1 at Leeds – to be wound up.
But a lawyer representing Bolton said “signifi cant progress” had been made in sale plans.
“The club have received conditional approval to the transfer of ownership from the Football League,” said a Bolton spokesman.
Owner Eddie Davies, who two weeks ago agreed to sell the club to a consortium fronted by former striker Dean Holdsworth, is confi dent there will be no hitches in the takeover and that it will soon be pushed through.
“We said we would survive and we will survive,” he said.
“We’ve worked very hard – us, the club and consortium – to get this one over the line. There has been a lot of speculation in the local press and a lot of criticism but it will be done this week.
“We have had to go through the process. There are still I’s to be dotted, T’s to be crossed by the consortium, and when that’s done we will do the transaction.”
Davies also dismissed fears that Holdsworth’s Sports Shield group would not have the funds to save Wanderers, with the consortium set to invest £ 7.5m to see the club through until the end of the season.
“They have defi nitely got the funds to see it through to the end of season and are securing funds to take them through to the end of next season,” added Davies.