Bolton Wanderers owners agree settlements with unsecured creditors

Since Football Ventures (Whites) took over Bolton Wanderers, the club have suffered relegation once in their first season while last term they won automatic promotion from League Two at the first attempt

Bolton Wanderers owners Football Ventures (Whites) say they have agreed settlements with unsecured creditors inherited from when they bought the club in 2019.

Football Ventures bought the club when they were close to liquidation, with debts of more than £10m being owed.

The club say they have met their obligations with regards to the debt prior to a deadline of 31 August.

Had the club not paid, they could have faced a 15-point deduction.

English Football League rules state that unsecured creditors must be paid at least 25 pence in the pound within two years, which led to Tuesday's deadline.

"After a very challenging two years we are absolutely delighted to confirm that the club has reached agreement with its unsecured creditors," chairman Sharon Brittan said.

"This ensures that we have met our obligations, satisfied the EFL requirements and are therefore free of any embargoes and penalties.

"I would like to thank our amazing colleagues who have worked tirelessly throughout this process over the past two years and also the creditors whose patience and understanding have not only been helpful but truly appreciated."