Bolton saved from following Bury into the abyss

Historic football club Bolton, one of the founders of the English Football League, avoided the fate of their historic rivals Bury from being expelled from the league when a takeover was finally approved on Wednesday.

Bolton had been under threat of suffering the same fate as fellow third tier side Bury, who on Tuesday had become the first team to be expelled from the English Football League in over two decades.

However, the four-time FA Cup winners staved off the imminent threat of extinction when long-time suitors Football Ventures (Whites) Limited succeeded in buying the club that had been in administration since May.

Bolton had been given a stay of execution late on Tuesday to find a buyer in 14 days or face expulsion as well.

There was relief all-round in the north-west town that was once integral to textile industry but has fallen on hard times -- the football club remaining as a focal point of the community and who until 2012 had enjoyed 11 unbroken years in the Premier League.

"There can be a fresh start with owners who, I believe, will run the club for the good of the supporters and the community as a whole," said the club's joint administrator Paul Appleton.

Appleton praised the part played by the family trust set up by the late Eddie Davies -- who owned the club from 2003-16, writing off GBP 175 million (USD 214 million) in loans and interest.

Four days before his death in September last year, he also gave the club GBP 5 million to save it from administration.

Appleton, though, did not mince his words with regard to the most recent owner Ken Anderson's behaviour throughout the takeover process -- it is understood he was the cause of the takeover being halted last weekend due to a dispute with the trust.

"Even at the 11th hour when other parties were content to renege on their agreements, the trust realised the very existence of Bolton Wanderers was at stake and were willing to find a compromise to save the club," sad Appleton.

"This says much about their determination not to allow Eddie's beloved Bolton Wanderers to suffer any longer at the hands of Ken Anderson."
- 'Destroyed lives' -
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