Bolton Wanderers have agreed a takeover by the Sports Shield Consortium
Mon 22nd Feb 2016 | Clubs Ownership
Bolton Wanderers have agreed a takeover by the Sports Shield Consortium headed by former Striker, Dean Holdsworth.
The deal was struck ahead of the Championship club’s High Court appearance regarding a £3m unpaid tax bill. That hearing has now been adjourned for 14 days to allow the takeover of the club to be complete.
“Bolton Wanderers can announce that the club has today been given an adjournment of 14 days by the High Court in order to conclude a deal with the Sports Shield Consortium in taking ownership of the club,” read a statement released by the club.
The club were represented by Trevor Birch and board member Richard Gee at the hearing in London on Monday.
Trevor Birch, who has been acting as advisor to the board and owner at Bolton Wanderers, said: “Whilst this continues to be a challenging time for everyone associated with the club, 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.”
It’s reported that Sports Shield Consortium will pay an initial £7.5m for the club whose debts total over £172m with a further £12.5m over the next five years, with Holdsworth becoming chairman.
Bolton announced on Friday (19th Jan) that it had sold off its Euxton training ground to the Whelan family which will be used by Wigan athletic as their new training ground.
Bolton now has until 7th March to settle its unpaid tax bill.
Posted by: Aaron Gourley
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