This week could be a bleak one for two clubs in League One. The situation at Bury has been well-documented, whilst Bolton Wanderers’ problems have appeared to be moving towards a conclusion.
Sadly, that no longer seems to be the case and the club are less than 36 hours to complete a takeover. If they do not, the administrators warn that it will spell the end of the line for the four-time FA Cup winners.
A deal has been close for some time and was due to be completed this week. However, following an 11th-hour hitch, the deal is on the verge of collapse and if that happens, then they will cease to trade according to Paul Appleton.
“At 5pm on Friday August 23, the completion of the sale of the football club and the hotel had been agreed by all parties and undertakings had been issued by all solicitors except those of Ken Anderson,” he wrote on their official club website.
“Devastatingly, on Saturday morning that deal collapsed. At this stage, there seems little point in apportioning blame because that makes no difference to the staff, players, management, supporters and the community who have once more seen their club taken back to the brink.
“My team have spent the last 48 hours working around the clock, striving to get a deal back on track and trying to convince the parties still in conflict that the very fate of Bolton Wanderers depends on them finding a compromise.”
He went on to outline the fate that awaits, should a deal not be reached by 5pm tomorrow evening.
“In just over 24 hours, the club will have its membership of the EFL revoked. Over and above that, the club is currently not in a position to carry on trading and, as such, the process of closing down the company will commence on Wednesday.
“This will ultimately lead to its liquidation, the expulsion of the club from the EFL and the inevitable loss of over 150 jobs. More than that, it will devastate a community for whom the football club is a beacon of hope and expectation.
“I reiterate, unless there is a change of position from any of the parties involved, the process of closing down the club and ultimately placing Bolton Wanderers into liquidation will begin this week.”
Sky Sports News will be rubbing their hands in glee at a double ‘deadline day’ countdown right now.
Our View
Iron your new tie Jim White, we’re seeing yet another day where the countdown graphics can come in to play. The life of a football club is at risk and all eyes will be on Sky Sports News for the very latest.
It’s a shame it’ll be such a spectacle; two clubs are on the verge of going to the wall. It’s heartbreaking for fans and staff of those clubs, but a final point has to be reached. The league is skewed right now, it’s unfair and clubs are suffering through postponements and easy ties against youth team setups.
I hope Bolton Wanderers get through this.
