Bolton Wanderers supporters make move to buy the club
by Matthew Campelli | 29 Jan 2016
The supporters trust is rounding up support from local businesses and institutions to buy the club / Bolton Wanderers Football Club
Fans of Bolton Wanderers Football Club (BWFC) have launched a bid to buy the beleaguered Championship club.
The Bolton Wanderers Football Club Supporters Trust (BWFCST) has penned a letter to owner Eddie Davies to “express its commitment” to leading an acquisition in partnership with local businesses and institutions.
The club’s accounts have recently been frozen after being served a winding-up petition by HM Revenue & Customs over a £2.2m (US$3.1m, €2.9m) unpaid tax bill. The threat of administration also looms over the team, which would result in a 10-point deduction and almost certain relegation from the league.
A Steering Group on behalf of the trust is rounding up funds offered by local businesses and institutions for an acquisition to take place. Davies, who has said he would write off the club’s £172m (US$246m, €225.4m) debt if it was sold, has refused to plough any more of his money into the team.
“We have requested immediate access to management and financial information and preferred bidder status,” said a BWFCST statement.
“We would make every effort to achieve a solvent purchase, to avoid losses for creditors and a points deduction. This could only be assessed and confirmed once the above access is granted, enabling us to establish the extent and timing of the funding needed.”
Insolvency professional Trevor Birch, hired by the club to oversee a sale, had been in talks with a consortium led by former Wanderers striker Dean Holdsworth – however talks broke down.
The move by the trust comes shortly after the government published a policy document which makes it easier for supporters to buy their football club if it becomes insolvent.
Football Bolton Wanderers Football Club Championship19 Jan 2016
Supporters able to bid for insolvent football clubs following government review
04 Dec 2015
Administration-threatened Bolton courted by new owners
Fans of Bolton Wanderers Football Club (BWFC) have launched a bid to buy the beleaguered Championship club. The Bolton Wanderers Football Club Supporters Trust (BWFCST) has penned a letter to owner Eddie Davies to “express its commitment” to leading an acquisition in partnership with local businesses and institutions. The club’s accounts have recently been frozen after being served a winding-up petition by HM Revenue & Customs over a £2.2m (US$3.1m,
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