Former Watford owner Laurence Bassini has agreed a deal to buy Bolton Wanderers although yet to be approved by the English Football League approval.
The news on Bassini is not all that great news however as he has been bankrupt twice but also was given a three year ban ‘from being involved in a position of authority with any EFL club in 2013.’
He ended up being found guilty of misconduct and dishonesty over financial dealings with the Vicarage Road.
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BOLTON WANDERERS CLUB STATEMENT:
“Bolton Wanderers Football Club are delighted to announce that a sale and purchase agreement has been signed which will see Ken Anderson’s shareholding in Burnden Leisure Limited being sold to Mr Laurence Bassini.
“This agreement will give Laurence Bassini full control of Burnden Leisure Limited and of course both Bolton Wanderers Football Club and Whites Hotel.
“The change of ownership requires approval by the English Football League before the deal can be finalised. The financial terms of the transaction will remain private and confidential between the parties.
“We are sure supporters will be very pleased to understand that as part of the transaction, all of the existing loans to the club will be settled in full and the associated charges removed, meaning the business will be debt free for the first time in many years.
Outgoing Chairman Ken Anderson said: “I am very pleased to hand over ownership of this great club to Laurence, I wish him and all of our supporters the very best for the future.”
“Prior to the ratification by the EFL, significant funds will be immediately be made available to the club enabling the payment of the outstanding wages to the players and coaching staff along with a number of the long term creditors.
“Once completion has occurred, all the long terms debts to HMRC and suppliers will be settled.
“Further comments including an interview with Mr Bassini will follow in due course.
Bolton fans have since taken to social media to give their reaction, majority are obviously annoyed and started saying ‘Bassini Out!’ – check out more of those tweets on the next page.
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