Court action brings Bolton Wanderers takeover to a halt

Bolton Wanderers

The takeover of Bolton Wanderers FC was thrown into turmoil this afternoon when spurned suitor Laurence Bassini won a legal challenge.

Paul Appleton, joint administrator of the club, said a deal was about to be finalised with preferred bidder Football Ventures when news of the legal move came through, placing the very existence of the club in jeopardy.

Mr Bassini had previously tried to buy the club, but had lost out to Football Ventures who had spent the past few weeks working with the joint administrators from David Rubin & Partners to finalise a takeover for the club which had entered administration in May.

But that process came to an abrupt halt after Mr Bassini was awarded a court order blocking the sale, linked to a company owned by previous Bolton owner Ken Anderson.

Mr Appleton said this evening: “It is with a combination of outrage and disgust that I have to inform Bolton Wanderers fans that the deal to sell the club to Football Ventures has been temporarily suspended in the last hour.

“Late this afternoon, we were informed by lawyers acting for Laurence Bassini that he had been awarded a court order attempting to prevent the sale of Burnden Leisure Limited, part of an action against a company owned by Ken Anderson.

“It beggars belief that Mr Bassini, a man who publicly professed to care passionately for the club, has now, through his actions, threatened its very existence.”

He added: “Despite a long and hugely complex process of negotiation, we were finally on the brink of completion this afternoon when Bassini’s order was served.

“Our lawyers are now in conversation with Counsel in a bid to overturn the order immediately.”

A spokespman for the English Football League said this evening: “We are aware of the terms of an Order granted earlier today in the High Court in Manchester in respect of Bolton Wanderers.

“The League is not a party to the proceedings and we are currently liaising with the administrators of the club to understand the full extent of any implications to the proposed transfer of assets.

“We are extremely frustrated by this late development with the deal so close to completion, and our focus must remain firmly on ensuring the long-term future of the football club.

“We will be making no further comment at this time.”

The Football Ventures consortium’s head, Sharon Brittan, had watched Bolton’s opening game of the season at Wycombe last Saturday.

Earlier this week ticket sales for this Saturday’s game versus Coventry were suspended 10 minutes before they were due to go on general release.

Bolton are currently on minus 12 points at the foot of League One as punishment for going into administration. The club was relegated from the Championship last season.

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