BOLTON FUTURE LOOKS BRIGHTER
BOLTON may still be deep in relegation trouble in the Championship, but at least they’re breathing easier off the pitch now.
As predicted in last week’s The FLP, the Trotters, £172.9m in debt, have agreed a takeover with Dean Holdsworth’s Sports Shield consortium, worth £7.5m.
Last Monday, the High Court granted the Trotters until March 7 to settle a £3m tax debt. The takeover, subject to Football League ratificiation, was wrapped up minutes before the hearing.
Trevor Birch, advisor to the Bolton board, said: “We are confident that this adjournment will give us the necessary time to conclude a transfer of ownership of the club, subject to approval from the Football League.”
Although the initial takeover fee is £7.5m, the consortium is expected to pay a further £12.5m over the next five years, with ex-Bolton striker Holdsworth becoming chairman.
“We haven’t made false promises, if you make false promises then you let the fans down,” Holdsworth told BBC Radio 5 live. “What we’ve done is shown funds to show that the club won’t go into administration. The club is alive, breathing and has a heartbeat.”
DEAL: Dean Holdsworth