Skip to main content

"If you want some accessible but informative insight into football then I suggest you couldn't do better than the Political Economy of Football website, which is not only intelligible but comes with the added bonus of being written by Addicks fan Wyn Grant."
Ben Hayes - Charlton Athletic programme

Winding up petition against Bolton

Share/Save

A winding up petition has been issued against Bolton Wanderers over an unpaid £5m loan.   The loan, from a finance company, was used to fund the takeover of the club.   The case will be heard on May 22nd.

It is understood that BluMarble lent Sports Shield - fronted by former Wanderers striker Dean Holdsworth - the money to complete a takeover with chairman Ken Anderson's Inner Circle Investments last year.

But last month, Mr Anderson bought ex-Whites striker Holdsworth's shares.  In doing so, Mr Anderson become the majority owner of the club.

Promotion to the Championship will boost the club's income by about £6m and help attract the investment Anderson is thought to be keen on.   The club are believed to be still in debt to the tune of £25m, with £15m due to Eddie Davies as part of the terms of the takeover.

Davies wrote off £170m of £200m in debts when he sold up, but the club were still losing £800,000 a month at that stage.