Football: Bolton Wanderers FC sold

Bolton Wanderers FC have confirmed that the club has been sold to Football Ventures Limited, just a day after being given a deadline by the EFL to sell or face expulsion from League One.

In a statement on their website Bolton confirmed the news saying, “We are pleased to announce the sale of Bolton Wanderers to Football Ventures (Whites) Limited has been completed.”

Administrator Paul Appleton, said: “This has been one of the most complicated administrations I’ve been involved with but 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.

“…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. It is a testament to their unflinching determination to do what was best for Bolton that we are able to complete the deal today.

“…I have every sympathy for the staff, players and fans who have been forced to stand by while their club was taken to the brink. I am delighted their loyalty, dedication and patience have finally been rewarded.

“Of course, there will be difficult times ahead while the club gets back on its feet but there are too many people with Bolton close to their hearts for it not to be successful once more.

“The EFL and PFA have both played a major part in the club’s survival. They have understood the complexities of the process and have stood strong in the fight to save Bolton, helping to drive this deal over the line.

“Now there can be a fresh start with owners who, I believe, will run the club for the good of the supporters and the community as a whole.

“For everything the fans have had to endure, they deserve nothing less.”

The new owners, Football Ventures (Whites) Limited also issued a statement:

We are privileged to announce that negotiations to transfer the ownership of Bolton Wanderers Football Club and Whites Hotel are over and we have formally completed.

Throughout this lengthy and complicated process, we have remained focussed on completion of the deal and nothing else.

At times it has been difficult to keep our counsel but we took a decision to remain on the sidelines even when further damage was being inflicted by delays outside of our control.

Our thoughts were always with the club staff and supporters and we worked tirelessly behind the scenes to find an agreement and prevent even more stress and uncertainty for those who have suffered far too much over the past months.

Now we are excited to begin restoring this magnificent football club to its rightful position, securing its future for the fans, the loyal club staff, and the players.

We are thankful to the EFL for their willingness to support our efforts along with the PFA. We would also like to thank the University of Bolton and Bolton Council for their backing and Bolton Wanderers Supporters Trust for its understanding.

We understand Phil Parkinson and Steve Parkin’s decision to leave the Club. They have behaved impeccably and loyally and we wish them both nothing but the best for whatever the future may hold.

It is now imperative that we commence the process of appointing a manager and strengthening the team with the right players to take the club forward.

The true spirit of this football club rests with the fans, it is nothing without them. The support shown to the players during this season’s opening fixtures has been overwhelming.

It would be remiss of us not to say how saddened we are at the devastating news from our neighbours at Bury FC. Our hearts go out to the fans and the community.

Now the deal is complete, please be assured we intend to do all within our power to bring back a true sense of pride to Bolton Wanderers Football Club, which is the least the staff, fans, future generations of supporters and the community deserve”.

Bolton have started their season under a cloud and with so few first team players still at the club they have had to rely on mainly youth team players.

Manager Phil Parkinson quit the club last week and the club sit bottom of League One with minus 11 points after starting the season on minus 12.

The fantastic news for Bolton comes less than 24 hours after fellow north west club Bury were expelled by the EFL after failing to find a buyer.