Bolton Wanderers takeover deal completed, announces club
Championship side Bolton Wanderers FC confirmed the successful takeover from former owner Ken Anderson by Laurence Bassini, this afternoon.
It said the deal still needs to be ratified by the English Football League, and that the financial terms will remain private and confidential.
A statement issued by the club, which currently sits second from bottom and 10 points from safety, said: “Bolton Wanderers Football Club are delighted to announce that a sale and purchase agreement has been signed which will see Ken Anderson’s shareholding in Burnden Leisure Limited being sold to Mr Laurence Bassini.
“This agreement will give Laurence Bassini full control of Burnden Leisure Limited and, of course, both Bolton Wanderers Football Club and Whites Hotel.
“The change of ownership requires approval by the English Football League (EFL) before the deal can be finalised. The financial terms of the transaction will remain private and confidential between the parties.”
It added: “We are sure supporters will be very pleased to understand that as part of the transaction, all of the existing loans to the club will be settled in full and the associated charges removed, meaning the business will be debt free for the first time in many years.”
Outgoing chairman Ken Anderson said: “I am very pleased to hand over ownership of this great club to Laurence, I wish him and all of our supporters the very best for the future.”
The club said that, prior to ratification by the EFL, “significant funds will immediately be made available to the club enabling the payment of the outstanding wages to the players and coaching staff, along with a number of the long term creditors”.
It added that, once completion has occurred, all the long terms debts to HMRC and suppliers will be settled.
The club appeared in the High Court on April 3, on charges relating to an unpaid tax bill to HMRC.
The case against the club over an outstanding £1.2m tax bill was adjourned until May 8, avoiding the threat of administration or liquidation, and enabling the successful conclusion of the proposed takeover by Stanmore-based businessman and former chairman of Watford, Mr Bassini.
He told Sky Sports News: “I’m absolutely delighted to have concluded the deal.”
Mr Bassini has been made bankrupt twice, once in 2007, after which he changed his surname from Bazini to Bassini, and again in 2014.