Bolton Wanderers joint administrators reveal preferred bidder

Bolton Wanderers

The identity of the preferred bidder for Bolton Wanderers FC has been revealed.

Football Ventures (Whites) Ltd has been chosen from a total of five final contenders to acquire the club.

Sharon Brittan and Parminder Basran are behind the company that was set up in January with the purpose of buying the club, which was relegated from the Championship last season to League One.

Football Ventures were linked to the purchase of the club in June when administrators announced they had identified a preferred new owner from five final offers.

At one point last month the club was also linked with former Liverpool forward Dirk Kuyt following reports in Dutch media claiming he was involved with a bid to take over Wanderers.

But Paul Appleton, of David Rubin & Partners, said last night: “We undertook a comprehensive bidding process where all interested parties were given an opportunity to make their best and final offer for the club.

“Football Ventures made the highest offer by a substantial margin and were also able to show absolute proof and source of funding to match the requirements of the process.

“They were also able to show the viability of a minimum two-year business plan for the club which was of the utmost importance.”

He added: “With the heads of terms agreement signed, we now move towards a sales and purchase agreement and the completion of the deal.”

Ms Brittan has a background in property and asset management.

During a career spanning more than 25 years she has completed multiple real estate development projects and now advises on investment and asset management.

Her achievements included co-founder and chief executive of Britannia Row Business Centre, an award-winning property offering flexible workspace solutions; chief executive of One Alfred Place, a private members business club in the West End of London which offers stylish, flexible work and meeting facilities where entrepreneurs and professionals combine to form a unique community; and chief executive and investment director for a family office managing a portfolio of property, lifestyle and technology investments.

Mr Basran made his money in food manufacture, hotels and restaurants, and is the founder and managing partner of Cheshire-based VGC Partners and in February this year was appointed as a director of WIT Fitness Limited.

Bolton was put into administration on May 13, in what it said was a bid to “ensure the continued existence” of the club.

Wanderers owner Ken Anderson said he had no alternative but to put the club into administration, on the day it faced action by HMRC in the High Court over £1.2m of unpaid taxes.

The club will start its League One campaign with a 12 points deduction for falling into administration.

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