Bolton Wanderers fans set up a supporters trust
Over 1,000 fans turned up at the Macron Stadium to vote for the creation of the trust, with club financial advisor Trevor Birch attending the meeting.
The Championship strugglers have been put up for sale by owner Eddie Davies, with debts of £172.9m and a winding-up petition issued by Revenue & Customs.
The trust hopes to work with whoever takes over the Lancashire side.
The Wanderers' financial troubles led to players and staff being paid late in December, while the club is under a transfer embargo for the rest of the season after failing to submit their required accounts.
Former Bolton strikers Kevin Davies and John McGinlay were also in attendance as they gave their support to the new organisation.
"If I can help in any way with the trust or in any other way, like finding investors, I'll do it as I love the club," Davies told BBC Radio Manchester.
"It's still in a perilous position and a lot of questions still need to be answered going forward but this is a start."