Bolton, Bury and Macclesfield to do one...

Alan Nixon ‏@reluctantnicko
BOLTON. Don’t want to raise hopes. But people trying to do a deal without admin. Have to say Bassini central to this. And other people willing to pay High Court bill if it goes to that point. Davies money and what side James on central to this ... a few twists yet.

 

Laurence Bassini's bid to buy Bolton Wanderers is on the brink of collapse - BBC

Bassini has been confident about doing a deal to buy the club from Ken Anderson, even after a repeated failure to provide proof of funds last week.

It seems Bassini is no nearer doing a deal so, unless there is another twist, it looks likely that Bolton will be going into administration at some point in the next 24 hours.

They are due back in the High Court on Wednesday over an unpaid tax bill.

The winding-up petition brought by HM Revenue & Customs, who are owed £1.2m, has already been adjourned twice.

Former Watford owner Bassini's intended purchase of the relegated Championship club was originally announced on 17 April, but Bolton owner Anderson released a statement on 27 April saying if Bassini did not provide proof of funds in the subsequent two days, he would explore other options.

Bassini then committed to provide the English Football League with proof of funds within 48 hours on Tuesday, but on Thursday the club issued a statement saying nothing further had been presented for the EFL Board to consider and that they considered his approach had come to an end.

That was disputed by Bassini, who claimed he was in control of the club. The EFL said on Friday that they were "aware" of Bassini's comments but there have been no further official updates since then.

 

Back in court again today.

Alan Nixon‏ @reluctantnicko
BOLTON. Optimism among those close to it that the right admin move will be played. And will be accepted by the judge. They better be right ...

 

When Dean Holdsworth and l first got involved with the club three years ago, l recall the late Eddie Davies telling me that ‘he had over 50 expressions of interest, mostly from dreamers and tyre kickers, who had indeed wasted a great deal of everyone’s time.’

Unfortunately, three years on and nothing seems to have changed.

Mr Bassini has failed to provide any adequate and acceptable proof of current and future funding to the EFL, the other secured creditors or me despite him keep telling the media, and anyone else that listens, that he has the ability to perform since early March when first discussions were held with him and his advisors.

His failure to perform has actually caused far greater hardship to the staff than would have occurred if he had not given undertakings he clearly cannot honour. For this I am deeply sorry and offer my apologies to the hard working staff of both the football club and Whites Hotel.

It is very disappointing that despite all of this he continues to make false accusations and promises, which are very misleading.

The question I have been asked is why, given the numerous warnings, I entertained an approach from Mr Bassini, in hindsight this has proved a mistake. However, at the time the only alternative was to place the business in to administration, I felt giving him the opportunity to complete the deal was worth the risk of delaying this process by a few days, which unfortunately became weeks.

I really had no idea that the club, my family and myself would be dragged through the media in such tawdry manner, whilst Mr Bassini seems to show no regard for his own reputation. His continued inaccurate outbursts to anyone that waves a microphone at him have been both damaging and in the most wholly inaccurate.

Mr Bassini, regrettably his continued time wasting and empty promises have caused a great deal of heartache and frustration for the staff and supporters alike and now leave the Eddie Davies Trust and I with little or no choice other than for one of us to place the businesses into administration, as any likelihood of finding any resolution the High Court hearing not possible.

This had been a massive disappointment to me as I understand the serious implications administration will bring to the businesses. But I have been left with no alternative, as this course of action will preserve the football club and all of its proud history.

I would like to thank all my colleagues at Bolton Wanderers and Bolton Whites for all their hard work during my tenure as Chairman and owner. Whilst it is easy to focus on the negatives, the positives will leave me with some fond memories. I wish nothing but the very best for everybody connected with this football club and I have no doubt whatsoever that this great football club will once again stand shoulder to shoulder with the giants of the game.

Ken

 

Alan Nixon ‏@reluctantnicko
BOLTON. The Chinese chaps in yesterday. Full tour. Invited and lined up by a proper guy. Tried for it before. Trying for it again? Looking very likely. Big Sam would be another issue. But a serious player now in the game.

 

Sam Allardyce eyed for sensational return to Bolton by super-rich Chinese group plotting takeover of crisis club

Former England manager lives locally and might be interested in the job if the company plans to invest and aims for the Premier League

CRISIS club Bolton Wanderers are wanted by super-rich Chinese group Shandong Luneng - with a return for Sam Allardyce on their menu.

Top officials from the company have been shown round the ground and are weighing up an offer to buy the stricken outfit.

Sam Allardyce could return to Bolton after a potential takeover of the club by super-rich Chinese group Shandong Luneng

The Chinese group tried to take over the club a year ago but ran into snags in talks with owner Ken Anderson.

However two senior officials flew in at the start of a renewed bid and were accompanied by former Wanderers sports scientist Mark Taylor.

Shandong Luneng are a leading power company in China and already have a major club in Jinan but they are keen on buying an English team.

Deal fixer Taylor is a former player who worked with Allardyce at Bolton, Blackburn, Newcastle and Sunderland.

Allardyce, 64, lives locally and is still a Bolton legend. He may be interested if the Chinese plan to invest and aim for the Premier League.

However the fact they will start next season in League One with a minimum of a 12 point penalty may put off the former England boss.

Football Ventures are hoping to get the club out of admin but they could find a rival bidder willing to pay more.

Bolton will go into administration after deciding it was the best way of handling their £41.6 million debts.