Fans in bid to buy cash-starved football club

BOLTON Wanderers Supporters Trust has made a direct approach to owner Eddie Davies in a bid to buy the cash-starved football club.

The move follows the collapse of a takeover bid from Sports Shield, the consortium led by former Wanderers striker Dean Holdsworth.

According to The Bolton News, the trust has come up with a plan, backed by organisations and businesses in the town, and has written to Isle of Man-based millionaire Davies asking to be the preferred bidder.

It is believed Davies may be willing to hand over control of the basement Championship club to a community-based board and has reservations about other offers in the running.

The club recently won a stay of execution over a winding up order from HMRC relating to  unpaid £2.2m tax bill. The club has until February 22 to find the money.

A statement on BWST website said: “In line with the Trust’s objectives and rules, which include ‘achieving the greatest possible supporter and community influence in the running and ownership of the club’, BWFCST has been in regular dialogue with the club’s management regarding its sale.

“We have written to the owner, Eddie Davies. We have expressed our commitment to help lead an acquisition, in conjunction with local institutions and businesses, from whom we have received a very positive response.

“Our objective is to raise sufficient funding to secure the future of the club for the benefit of the supporters, the community and the town. We would not engage with anyone who didn’t share our commitment to a community investment.
“We have requested immediate access to management and financial information and preferred bidder status.

“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, to enable us to establish the extent and timing of the funding needed.
“If administration proved unavoidable, we would work with the club to make the best of that situation. If we believe that a supporter led takeover is feasible, we will consult with supporters before moving forward with a bid.

“Ideally, we would have started this process once membership fees had been taken, an annual meeting held and a board voted in, but time is against us and we have had to act now to try to secure the Club’s future.
 
“We continue to take guidance from Supporters Direct, who have 15 years’ experience of helping supporters at other clubs through similar situations.”

Meanwhile, another Wanderers striker, John McGinlay, has been appointed as an ambassador for the Trust.
 
McGinlay, who scored 118 goals in 245 appearances between 1992 and 1997, was instrumental in  publicising the trust in its early days and helped to raise membership to the 5,000 mark.
 
He is now acting in an official capacity as a bridge between the club and the trust.
 
“I am delighted to be involved in the trust at such an early stage. I attended the initial meeting on January 6 and was absolutely blown away by the response from the fans, so I knew I had to be involved in a more hands-on role.
 
“I’ve been in regular contact with the steering group since Supporters Direct put them together and I was humbled when they asked me to become an ambassador of the trust.

“The (Trust’s) steering group are doing a fantastic job. They need expert help at this time and that’s something that the new members of the group bring. The trust movement is an incredible thing to be part of, and I urge all Bolton fans to get involved.”