Bolton Wanderers bought by former Watford owner

Former Watford owner Laurence Bassini has agreed a deal to buy Sky Bet Championship side Bolton.

The Trotters are eight points adrift of safety in England’s second-tier but have been ravaged over the past few years as a result of sub-standard ownership by Ken Anderson.

A Club Statement revealed that the deal is not completely finalised, with the transfer of ownership subject to approval from the English Football League.

The full statement said:

“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.

“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.”

The Lancashire side have lost five of their previous six games and face relegation to Sky Bet League One if they fail to beat Aston Villa on Friday. The Club’s players staged a 48-hour strike after receiving their wages late for the second month in a row.

Bassini took over at Watford in 2011 but his tenure was short-lived as he was found guilty of misconduct and dishonesty over financial dealings on behalf of Watford. A ban from being involved in a position of authority with any Football League club for three years ended in 2016.

He has also been declared bankrupt twice, in 2007 and once again in 2014.