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Wanderers avoid administration on the day former owner Eddie Davies dies

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Bolton Wanderers have managed to avoid going into an administration, with a last minute financial deal staving off the imminent threat of a 12-point deduction and a two-year transfer embargo. Had the club gone into administration the point deduction would have been applied immediately and that would have seen Wanderers go from 8th place in the EFL Championship with 11 points to bottom place with -1.

The drama began in Monday night when club chairman Ken Anderson posted a message on the club’s website to say that an offer of a £4m repayment, plus interest, to Blu Marble Capital Ltd had been rejected and that there was a serious risk that Bolton Wanderers could go into administration as early as the following morning.

In the event, the 10 am deadline came and went with an extension agreed as promising talks were in progress. Fans waited anxiously for news, and by yesterday afternoon it appeared that with the help of a third party, believed to be local businessman Michael James, a repayment plan had been accepted by Blu Marble. It was not until today, however, that Anderson posted a new update on the BWFC website, confirming that the loan had been repaid and that administration and its consequences had been avoided.

photo: BWFC

Eddie Davies CBE. Photo: BWFC

In the midst of this drama came the sad news that Eddie Davies CBE, former owner of Bolton Wanderers FC, had died in the early hours of yesterday, whilst on holiday in Portugal. Davies became a non-executive director of the club in 1999 and was the club’s owner from 2003 to 2016.

A book of condolence will be open at Bolton Central, the club’s shop at the University of Bolton Stadium, from Friday morning, and a minute’s applause will be held prior to kick-off in Bolton’s home match against QPR on Saturday 15th September. Both sets of players will also wear black armbands as a mark of respect.

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