Bolton Wanderers have been given a stay of execution by the EFL after fears that the club could be kicked out of the league loomed.
Wanderers have been granted a 14-day extension to allow the ongoing takeover by Football Ventures to finally come to completion.
Fears that the club would be placed into liquidation as early as Wednesday have been put on hold and a statement from the club’s administrators suggests that they are working through the night to complete the drawn-out takeover of the club.
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Bolton were handed a 17:00 deadline on August 27 to get their long-awaited takeover over the line but a statement from the EFL shortly after 23:00 has spared the club for the time being.
Whether or not this drawn-out process can finally be sorted in the next fortnight remains to be seen after this takeover saga has been dragged out all summer.
If Wanderers can’t get this deal over the line in the allotted time, then the club could well suffer the same fate as Bury who were expelled from the EFL on Tuesday night in heartbreaking fashion.
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What has happened at Bury tonight is absolutely tragic. While the club may have been a fierce rival of Bolton’s throughout the decades, it’s horrendously sad to see the club suffer such an awful fate. There’s not much we can say other than we’re sorry to see a great club go through such a torrid time.
To think that could happen to our beloved Bolton Wanderers is an absolute farce.
If this takeover deal really is close to completion – as has been claimed for weeks now – then, in theory, the club ‘should’ survive.
However, knowing how long this process has gone on for already, the stay of execution could be meaningless, as we could well see the takeover debacle continue on until the September 10 deadline.