Bolton Wanderers agree deal ‘in principle’ to sell club

Bolton Wanderers

Bolton Wanderers says it is close to a deal to sell the club.

In a statement issued this morning (Sunday, February 24), the club said: “The chairman is pleased to announce that an agreement in principle has been reached that will result in Inner Circle Investments selling its total shareholding in Burnden Leisure.

“A period of due diligence has now begun, once this process has been completed and the requirements of the EFL have been satisfied a further announcement will be made to supporters.”

Chairman Ken Anderson owns 94.5% of Bolton via his Inner Circle company.

In January he said he was “doing his utmost” to find a buyer for the Championship club.

Last week he issued a statement to clarify the current position following speculation about a takeover.

He dismissed reports of an approach by a Turkish buyer, as well as a North West-based consortium backed by Russian money as “pure fiction”.

However, he did reveal: “The facts are that there is a consortium with which heads of terms were agreed and discussions are ongoing.

“There has, over the last week or so, been further interest from several other consortiums who have all signed NDAs (non-disclosure agreements) and discussions are also ongoing with them.

“Everything else that has been said or written can be ignored as it is total fiction,” he added.

Mr Anderson bought a stake in the club as part of a takeover in 2016, and then took majority control the following year.

The club is due in the High Court on March 20, after HM Revenue & Customs issued a winding-up petition.

The petition was filed on February 4, and published last Wednesday.

Bolton lost 2-1 yesterday at third-placed Leeds United, leaving the club sitting second from bottom and four points away from safety.

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