The joint administrators for Bolton Wanderers can confirm a preferred bidder for the club has been identified and notified of their successful offer.
Best and final offers were received from five parties by the 4pm deadline on Wednesday and, after careful consideration, it was clear the preferred bid met every criteria laid down by the Joint Administrators. These included, but were not limited to;
- The highest bid for the club
- Proof and source of significant funding
- Ability to fund the club for a minimum of two years
- Ability to satisfy secured, football and unsecured creditors
- EFL approval
The preferred bidder has also agreed to inject £1million into the club in order to fund the immediate running of the club and the rebuilding of the playing squad ahead of the new season.
Paul Appleton of David Rubin & Partners said: "I am delighted we have been able to reach a more than satisfactory outcome to this stage of the process and I am confident the preferred bidder has the ability to take Bolton Wanderers forward.
"We are now working towards a signed Heads of Terms agreement by close of play on June 14 and until that has been signed, we are still bound by the confidentiality agreement within the process.
"But I can assure all Bolton Wanderers fans that the preferred bidder has both the financial ability and the determination to turn around the fortunes of this great football club."