Bolton Wanderers face a High Court fight on Wednesday to avoid becoming only the third English club to be liquidated, with no buyer in sight and no way of paying their debts.
The club have been hit with their sixth winding-up petition over unpaid tax and VAT in 18 months, after the withdrawal of a consortium who had expressed interest in buying them.
Football insolvency experts believe the High Court’s reluctance to see a community club liquidated, like Aldershot in 1992 and Chester City in 2010, will see them avoid that nightmare outcome. The Championship team will almost certainly enter administration instead, incurring an immediate 12-point deduction.
Sportsmail understands HMRC, who brought the petition, have been pushing the courts to liquidate a club for some time, setting an example to those who expect to be made a special case when they fail to meet their debts.
Wanderers’ biggest challenge will be convincing the court there is any sign of a buyer.
The Football Ventures (Whites) consortium, led by private equity investor Parminder Basran and his business partner Sharon Brittan, have pulled out of talks, to the dismay of chairman Ken Anderson, who has become a detested figure and wants out.
Corporate recovery specialists say that Bolton’s geographical location works against them.
‘Foreign buyers want London clubs,’ said one source. ‘Lancashire does not hold the same appeal and unless there is a consortium of locals, it is very difficult to see where a buyer is coming from.’
Bolton’s woes were compounded on Tuesday by confirmation Forest Green owner Dale Vince has instigated legal proceedings against them over the collapsed Christian Doidge transfer in January.
Vince alleges Anderson reneged on a contract to sign the player and that Forest Green ended up paying Doidge’s wages after he was loaned to Bolton with a permanent move agreed to follow.
Bolton confirmed on Tuesday night that takeover talks had failed but claimed ‘discussions are ongoing with other parties’.
Meanwhile, Leeds united owner Andrea Radrizzani is being sued for £750million by Chinese investors. Radrizzani’s sports rights company MP & Silva was bought out by the group in 2016, but collapsed in October. The Chinese are suing Radrizzani and business partner Riccardo Silva for commercial fraud.
Superless
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It will be a sad day for football if Bolton go.
Crazyman
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Money is ruining the fine game. Ugly stuff. Feel for Bolton supporters.
Jeff19960
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Wow. This makes Big Sam Allardyce's achievements at the club even more miraculous.
likee
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AFC Bolton, terrible state of affairs, those who have owned this great club need to hang their heads in shame
postage
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Where's Reebok when you need it oh sold out
wishing
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Usually no love lost between Bolton and Bury fans, but the Wanderers are one of the game's great traditional clubs, founded in 1874 and one of the twelve founder members of the Football League. They won the first ever Wembley FA Cup final in 1923. With the great Nat Lofthouse, Bolton won the FA Cup again in 1958. With all due respect to Aldershot and Chester, to add Bolton to this list would mean the game was losing something a lot more than just a small club.
Desirben
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Sometimes it's the things you wish for , you most regret..... Between 2004 and 2007, Bolton Wanderers finished 8th , 6th ,8th , and 7th in the Premier League. Their manager at that time, Sam Allardyce, suffered dogs abuse from the dumbest and most fickle supporters in English football and was hounded out of the club. "You don't know what you're doing" they used to scream... Don't look so clever now do you?
Edoo87
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its sad news