League Championship side Bolton Wanderers is "likely to be issued with a winding-up petition within days unless they can secure a short-term solution to their financial crisis," according to James Ducker of the LONDON TIMES. The club has an outstanding PAYE and VAT bill of £2M ($3M) and is under "mounting pressure from HMRC to settle the debt." Three consortiums are "interested in buying Bolton, but with all parties needing to take out loans to finance a takeover, the process is fraught with legal complications and has led to delays trying to strike a deal." The club hopes to reach an agreement with one of the would-be investors that will enable it to pay its debts and last month’s players’ wage bill of £800,000 ($1.2M) and "buy time to conclude a takeover in the coming weeks" (LONDON TIMES, 12/8). In London, Samuel Stevens reported takeover talks "continue in earnest with four parties interested in striking a deal," but the threat of administration and a subsequent 12-point deduction "remains a real possibility." Should that fate fall upon Manager Neil Lennon’s side this season, it would be plunged into "even deeper relegation mire -- 16 points adrift of safety." Bolton Chair Phil Gartside "remains gravely ill and has requested privacy" while financial adviser Trevor Birch, brought in by Owner Eddie Davies to lead discussions, has described the situation as "increasingly perilous." Birch: "The club's position is increasingly perilous and new investment is needed quickly." Lennon said that he hoped the club’s potential buyers were not "tyre-kickers" but had money (INDEPENDENT, 12/8).
PREFERRED BIDDER?: The BBC's Simon Stone reported a consortium involving former Bolton striker Dean Holdsworth is "thought to be the preferred bidder, though the structure of that deal is complex and is thought to involve an element of borrowing." Davies has agreed to write off the £172.9M ($259.5M) he has loaned the club "in order to push through a deal but is refusing to put in any further funds" (BBC, 12/8).
