League Championship side Bolton Wanderers Owner Eddie Davies is "prepared to write off" up to £170M ($258.9M) in loans to the Championship outfit and sell his controlling stake for a little as £20M ($30.5M) in "an effort to save the club from financial meltdown," according to Mark Ogden of the London TELEGRAPH. Isle of Man-based Davies, a 69-year-old "lifelong Bolton supporter" who made his fortune manufacturing kettle thermostats, is currently understood to be worth in excess of £100M ($152.3M). However, the "reclusive owner of the club has made it clear that he is no longer willing to offer ongoing financial backing" and the appointment of Trevor Birch, the former Chelsea CEO, as an advisor to Davies is designed to accelerate discussions with interested parties "keen to buy the Lancashire outfit." Sports Shield Consortium, a group including former Bolton forward Dean Holdsworth, is "in talks with" Davis and Birch, with the prospective buyers "ready to push through a firm takeover bid in order to take charge of the club before the opening of the January transfer window." But with Bolton revealing a debt of £172.9M ($263.3M) in accounts posted in April, Davies is "facing the prospect of a huge financial sacrifice in order to offload the club." But with Davies "ready to cancel the debt and sell" for between £20M-£30M ($45.7M), potential new owners could go into the new year with funds available for Manager Neil Lennon to "strengthen a squad" (TELEGRAPH, 11/18).
