Bolton Wanderers has today been given an adjournment of 14 days by the High Court in order to conclude a £7.5m deal with the Sports Shield Consortium in taking ownership of the club.
The club were represented by Trevor Birch and board member Richard Gee at the hearing in London on Monday.
Trevor Birch, advisor to the board and owner at Bolton Wanderers, said: “Whilst this continues to be a challenging time for everyone associated with the club, we are confident that this adjournment will give us the necessary time to conclude a transfer of ownership of the club, subject to approval from The Football League.”
The consortium is led by former player Dean Holdsworth, who on top of the initial £7.5m deal are expected to pay additional fees over the next five years.
The club are currently in £172.9m in debt, the majority of which is owed to current owner Eddie Davis. The American is willing to write off all debts to him as part of the deal to sell the club, but it is the £2.2m owed to HMRC that is the greatest concern.