EFL: Football Ventures Takeover Bolton Wanderers

Bolton Wanderers administrator Paul Appleton on Wednesday confirmed that Football Ventures have completed the takeover of the club.

Recall that the English Football League (EFL) announced on Tuesday night it had given Bolton’s administrators 14 days to either sell the club or prove they could fund them for the rest of the 2019/2020 season.

The club would have been withdrawn from the Football League if they failed to meet the deadline, but that situation has now been averted.

Appleton said: “I’m delighted to say we have finally reached a satisfactory conclusion with the sale to Football Ventures.

“At times, some of the hurdles appeared insurmountable and the frustration felt has been immense, not least by the supporters who have had to endure too many weeks of uncertainty.”

Sky Sports reports that Appleton reserved special praise for the Eddie Davies Trust, the PFA and the EFL.

He said: “I would like to pay particular tribute to the Eddie Davies Trust and their legal team who, throughout this whole process, have been willing to do everything in their power to ensure Eddie’s incredible legacy was maintained and not sullied.

“Even at the 11th hour when other parties were content to renege on their agreements, the Trust realised the very existence of Bolton Wanderers was at stake and were willing to find a compromise to save the club.”

Bolton commenced the season on minus-12 points after being placed into administration, and manager Phil Parkinson and his assistant Steve Parkin resigned earlier this month.

Following Football Venture’s takeover, the EFL have confirmed Bolton are no longer in administration and that their notice of withdrawal from the Football League has been withdrawn.