Bolton Wanderers placed for sale by its administrators

Paul Appleton, the Joint Administrator for Bolton Wanderers, has confirmed the club is now being actively marketed for sale and has set out the parameters for all interested parties.

Hilco Global have been employed as agents of the Administration and will contact all parties who have so far expressed an interest in buying the club.

However, there are several stipulations which have to be met before any access to financial information pertaining to the sale can be disclosed.

These include a non-refundable deposit of £25,000, which will have to be paid purely to access the data room.

Also, proof of funds amounting to not less than £25million, which will take into account those parties also interested in acquiring Whites Hotel.

Potential purchasers must also sign a Non-Disclosure Agreement for the duration of the sale process.

A takeover by former Watford owner Laurence Bassini collapsed earlier this month leaving the club unable to pay its bills or staff and player wages.

Wanderers will start their League One campaign with a 12-point deduction after going into administration.

Non-playing staff were told on Tuesday that they would be paid wages from 13 May when administrators took over.

Mr Appleton said: “There has been substantial interest from the moment of our appointment on 13 May.

Over 30 parties have approached us, and we will now begin the process of selecting those best positioned to make a serious offer for the club.

“Speed is of the essence in this process and we are advising all those with a serious interest to provide information concurrently to the EFL in respect of their Owners’ and Directors’ Test in order to satisfy those demands.

“Hilco have an outstanding reputation in this market and I am confident that we will soon have whittled down the list of potential buyers in order to find the best purchaser for the club and restore the standing of Bolton Wanderers.”

TNT Business

Photo Credit: David Dixon

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