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Bolton avoid administration after agreeing deal to pay off main creditor

The University of Bolton Stadium
The University of Bolton Stadium

Bolton have avoided administration after agreeing a deal to pay off their main creditor, chairman Ken Anderson has announced.

Anderson had warned the Championship club faced administration after an initial offer to repay BluMarble Capital Ltd was rejected.

However, a revised offer was agreed at the 11th hour and Anderson confirmed Bolton had avoided administration and would not be subject to any points deduction.

He said in a statement on Wednesday: "I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid.

"I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club and I am extremely grateful for the continued support, help and assistance of Michael and Brett.

"I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5million and will be of great assistance to the club going forward.


Bolton v QPR betting (odds via Sky Bet)

  • Bolton to win - 7/4
  • Draw - 11/5
  • QPR to win - 8/5
  • Bolton to win and BTTS - 11/2
  • Josh Magennis to score first - 11/2

Head here for the full market with odds


"As previously stated, I believe the club now has one of the lowest debt positions in the Championship. I am also pleased to confirm that the club did not go into administration and there are no points deductions or embargo implications.

"I fully appreciate and understand that the last couple of days have caused some consternation for you all and I would like to apologise for that, but the whole process has been very complex and far from easy.

"We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.

"I would like to thank you all for your patience and we can all look forward to a season of progress both on and off the pitch."

No English Football League club has had to go into administration since Aldershot in 2013.

Bolton, who only narrowly escaped relegation last season, have begun this campaign well with just one defeat in their first six Championship matches, leaving them eighth in the table.


Odds correct at 1550 BST (12/09/18)

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Most Read Football

Sporting Life's Premier League preview package1

Saturday's Premier League tips

Mark your card for Saturday's 3pm kick-offs in the Premier League with the best bets, Super 6 predictions and top stats for each game.

Jose Mourinho2

Mourinho aiming for top job

Jose Mourinho insists he is still in the market for a top level job in football, as he defended his time at Manchester United due to what was going on behind the scenes.

The latest done deals and transfer rumours with Sporting Life
3

The Transfer Market: Live

Keep up with all the latest transfer news reports and rumours along with the details of all the done deals and latest betting odds.

Get all the latest football gossip from the day's back pages4

Paper Talk: Wan-Bissaka battle

Aaron Wan-Bissaka is attracting interest from top Premier League clubs and Man City to be priced out of race for Dutch star, according to the back pages.

Paul Pogba celebrates5

Pogba sets United challenge

Paul Pogba says Manchester United need to continue their perfect record under caretaker boss Ole Gunnar Solskjaer to prove that they are a back to being a major force in the Premier League.

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