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Update : Bolton Wanderers No Longer Face Administration

11 September 2018

Bolton Wanderers To Go Into Administration

Update : 13.09.18 : Ken Anderson has announced that Bolton Wanderers are no longer at threat of administration. A deal has been made to pay back the biggest creditor, BluMarble Capital Ltd - though details of this deal are not yet known. As a result, a 12 point deduction is no longer faced. 

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Due to a dispute over a loan repayment, football club, Bolton Wanderers will be placed into administration.

Chairman, Ken Anderson, states how his offer to pay a £4million debt, with substantial interest, has been rejected by finance company BluMarble Capital Ltd.  The finance company originally funded the club through Sportshield Ltd, yet the rejection of Anderson’s repayment, means the club is likely to be put into administration by BlueMarble Capital.

This move would result in an automatic 12-point deduction for the Sky Bet Championship side, as well as a putting them into a two-year transfer embargo. See our page regarding winding up petitions and football clubs for more details. 

Bolton will become the first football league club in five years to fall into administration. Additionally, they will be the first to receive the standard penalty of 12 points for a fall – rather than 10 points which was the standard in 2015.

Phil Parkinson’s side only just escaped relegation to the third-tier last season and will be left at the bottom of the table with a points deduction of -1.

This is not the first time the club have faced financial difficulties. In 2012 they were relegated from the premier league and since 2016, they have settled three separate winding up petitions from HMRC.

Additionally, unpaid wages and bonuses have impacted the club. In July, a pre-season friendly against St Mirren was called off after Bolton’s players went on strike. Only Last week, Karl Henry, midfielder, claimed he was one of the many players awaiting wages to be paid from the 2017-2018 season.

Anderson states, ‘’in my opinion, their [BluMarble Capital Ltd] actions will substantially reduce the value of the club in respect of any future sale and will make it far more difficult to find a future investor/buyer.’’ They will ‘’live to regret’’ the decision.

Can Bolton Wanderers be saved this time? 

If it does go into administration it is worth looking at the Football Creditors Rule to understand who gets paid when a football club goes bust! 

Categories: Administration, What is administration, Winding up petition

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