Things are looking up for Bolton as the race for the club’s ownership heats up
In a statement released on the club’s website last night, Paul Appleton, one of the club’s joint-administrators for Rubin and Partners, confirmed that the process to market the club for sale has begun with agency firm Hilco Global appointed to oversee the sale.
The statement reveals that potential new owners must have proof of funds of at least £25 million pounds in order to keep the club running for the next two years.
On top of that, a non-refundable deposit of £25,000 is required to see the club’s data room.
Understandably, interested parties will be required to sign non-disclosure agreements while the process of purchasing the club is active so details about prospective new owners are likely to be thin on the ground.
Appleton revealed in last night’s statement that the administrators have been approached by over 30 parties looking to make the club their own. The process now is to narrow that number down to the most suitable candidates.
Potential suitors will also have to work with the EFL in order to meet the league’s notorious fit and proper Owners’ and Directors’ test before a takeover of the club can be completed.
It’s certainly sounding promising for Wanderers and hopefully, the club can get an owner that’s willing to back Bolton Wanderers to the hilt in order to restore the club’s once prestigious standing.