Bolton face liquidation Watch

Rock Fan
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Bury On the edge and now looks like Bolton could be no more by tomorrow https://www.bbc.co.uk/sport/football/49470865
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The Mogg
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It's always sad when a football team becomes no more, no matter who it is (although saying that, if Millwall were to be liquidated I wouldn't be overly sad)
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barnetlad
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Very sad. The EFL should intervene much sooner for clubs in crisis. Probably once wages are more than one month overdue.

There should also be a more even payment to clubs from tv deals.

Both Bolton and Bury should have had a deadline a month or so before the start of the season which would I think have ensured the takeover of each club would have happened.
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Surnia
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Bolton Wanderers have 14 days to find a buyer and address their administration issue or they will be expelled from the English Football League:

https://www.bbc.co.uk/sport/football/49491632
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Laney M
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although I am not a football fan this upsets me being from Bolton as my Dad and brother support them
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Rock Fan
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(Original post by Surnia)
Bolton Wanderers have 14 days to find a buyer and address their administration issue or they will be expelled from the English Football League:

https://www.bbc.co.uk/sport/football/49491632
Joining Bury sadly, trouble is there will be far more who go under I think in the near future
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Surnia
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(Original post by barnetlad)
Both Bolton and Bury should have had a deadline a month or so before the start of the season which would I think have ensured the takeover of each club would have happened.
A takeover can't be forced through by putting a time limit on it, and what would you propose if this had been done and not produced a sale?

The more recent deadlines haven't helped, and that's because it's complicated taking over a business, especially one in which so few people have experience. People don't want to throw good money after bad and there are few with the resources to take on a financial black hole. I think with Bury, even if C&N had stepped in earlier, them walking away after due dilligence could have put off other prospective buyers.
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barnetlad
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If there was certain transparency requirements for all football clubs and a proper owner and director test, due diligence would be simpler.
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Rock Fan
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Looks like Bolton are saved https://www.skysports.com/football/n..._source=Direct
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Surnia
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(Original post by barnetlad)
If there was certain transparency requirements for all football clubs and a proper owner and director test, due diligence would be simpler.
Clubs are independently audited and there is a 'fit and proper' owner test, but that's not always carried out if a buyer has come in to buy a club that is struggling financially. However, there are so many outside factors that can affect a club that, in my experience, even rich businessmen with a good track record can run into problems. These days there's FFP to consider as well.

C&N has said that Bury's financial structure was too complicated:

https://www.bbc.co.uk/sport/football/49493929
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barnetlad
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(Original post by Rock Fan)
Looks like Bolton are saved https://www.skysports.com/football/n..._source=Direct
Good news.
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