League One side Bolton Wanderers’ chair Ken Anderson reportedly wants to be the sole owner of the club despite a joint deal earlier this year undertaken with a former player of the club Dean Holdsworth, BBC Radio Manchester says.
The former Premier League side have been facing serious financial challenges that are impeding its growth. The club is set to face more financial problems if Anderson does not get his way as the sole owner.
Anderson and Holdsworth entered a partnership that resulted in the acquisition of Bolton for £7.5 million. The club stands the risk of administration unless both parties can reach a deal within the next few days.
Wanderers were in a financial mess, amassing debts over £170 million before Anderson’s Inner Circle group partnered with Holdsworth’s Sports Shield organization to complete a takeover from Eddie Davies. The troubles the club is in caused rumours to spread wildly that a Saudi-based group would take over again from the current owners.
Anderson denied such rumours saying, “the club has not previously or is currently holding any discussions with a Saudi-based group or their legal representatives regarding a potential takeover.”
The League One side is targeting a return to the English Championship at the end of this season after being relegated last year. Since the side failed to comply with Financial Fair Play obligations, they were placed on a transfer embargo late last year. The Football League is still keeping close tabs on the club and they are not able to get new additions. Despite the embargo, Bolton sit second on the League One log.
Anderson would need to resolve the issues on ground to get the club quickly running again. The financial push and better management would be of great importance when they can get the promotion they desperately seek for.