Bolton avoid administration and 12-point penalty by paying off debt

first_img Strugglers Wigan hold Blackburn to goalless draw in Championship ROUND-UP Bolton have staved off the threat of administration Cardiff and Preston play out stalemate in Championship early kick-off stalemate Leeds lose at Fulham, West Brom held, Charlton’s winless run continues GREAT NEWS Bannan penalty helps Sheffield Wednesday strengthen grip on play-off place Latest EFL news Every Championship club’s best signing of the decade, including Taarabt and Dack Orient chief gives update on manager search after ‘unfortunate’ Fletcher sacking EFL result impact center_img REPLY Anderson warned the club were facing administration as a result, which would have meant a two-year transfer embargo and a points deduction of 12 points.But the loan has now been repaid and the Championship side – currently eighth in the table – have staved off the threat of any sanctions from the EFL.A statement from Anderson read:  “Following on from all the speculation, I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid.“I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club and I am extremely grateful for the continued support, help and assistance of Michael and Brett.“I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5m and will be of great assistance to the club going forward.“As previously stated, I believe the club now has one of the lowest debt positions in the Championship. goalless Hull defender MacDonald given all-clear after battle with bowel cancer CONFUSION “I am also pleased to confirm that the club did not go into administration and there are no points deductions or embargo implications.“I fully appreciate and understand that the last couple of days have caused some consternation for you all, and I would like to apologise for that, but the whole process has been very complex and far from easy.“We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.“I would like to thank you all for your patience and we can all look forward to a season of progress both on and off the pitch.” Berahino hits back at b******t Johnson criticism – ‘I was in a dark place at Stoke’ Macclesfield set for further EFL sanctions after Plymouth match is called off ‘close’ Bolton Wanderers will not be entering administration after paying off a loan to their major creditor.Chairman Ken Anderson announced this week that his offer to settle a £4million debt with interest was rejected by financiers BluMarble Capital Ltd. 1last_img read more