League One side Bolton Wanderers players have "belatedly been paid their wages for November as the club scrambles to secure its immediate future," according to James Ducker of the London TELEGRAPH. Bolton co-Owner Ken Anderson warned this week that "the club could be forced into administration unless a deal is struck" to purchase the 40% shareholding of fellow Owner Dean Holdsworth, the former Bolton striker. Anderson hopes "to win sole control of Bolton imminently after reaching an agreement in principle with Holdsworth," together with whom he completed a protracted takeover of the club in March. But, "the deal hinges on Blumarble, the finance company which funded the involvement of Holdsworth's Sports Shield consortium in the takeover, providing the green-light." Blumarble provided Sport Shield with a loan of around £5.5M ($6.9M) including assorted fees, to fund Holdworth's side of the takeover. The loan, which is "understood to be accruing interest at a rate of" around £4,000 ($5,000) a day, is secured against club assets, including the Macron Stadium, and permission "must be granted by Blumarble to allow Holdsworth to proceed with the sale of his stake." It remains to be seen whether Bolton takes on that loan and whether the current "exorbitant" interest rate can be renegotiated (TELEGRAPH, 11/30).
