Skip to main content

Bolton chairman Ken Anderson says potential buyers ‘did not have the cash’

Bolton chairman Ken Anderson has challenged potential buyers to step up to the mark as the ailing Sky Bet Championship club continue to battle through their financial crisis.

Anderson’s attempts to offload the club in the wake of escalating supporter and staff protests have come to nothing despite what he says were extensive negotiations earlier this year.

Earlier this month Bolton players staged a 48-hour strike after receiving their wages late for the second month in a row, while five defeats in six means they are almost certain to be relegated.

In his column on the club’s official website, Anderson wrote: “There has been a great deal of comment about the failures of the recent takeovers and the reasons for this.

“For the record, when push came to shove the buyers simply did not have the cash, despite numerous assurances.

“As far as I am concerned, it had nothing to do with the creditors being higher than they were told, or what I was demanding personally, as this is simply not the case.

“The reality is they were probably hoping it would go into administration and they would then acquire it for substantially less, albeit with a points deduction, but a significant saving on creditors.”

Anderson has blamed previous mismanagement for the club’s current financial plight, and insisted he continued to provide funds despite being advised to stay away from matches for his own safety.

Bolton will be relegated back to League One on Good Friday if they lose to Aston Villa.