Bolton takeover Q&A – Will they be expelled from the EFL today, when is the deadline and who are the potential buyers?
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BOLTON are facing a desperate battle to save themselves from being thrown out of the Football League - and potential extinction.
The League One club are on the brink of going bust after a proposed takeover collapsed late last week.
The administrator in charge of the Trotters says he will have to start liquidating the club this week unless a late agreement can be made.
And they have been given until 5pm today to prove their finances to the EFL or they could start the process of expelling them from the game.
Can Bolton be thrown out the EFL today?
The short answer to this is no.
Bolton have been set a deadline of 5pm today to prove they are in a financial position to fulfil the remainder of the League One season.
That deadline is only to satisfy the EFL of one of two scenarios - either the takeover has been completed, or that the administrator can show the club can play out the remainder of the season in administration.
If that cannot be done, league bosses will enforce the notice of intention to revoke their membership of the professional game.
From that point, Bolton would then have 14 days to get their finances in order or they will be expelled.
Can Bolton go out of business if they fail to meet 5pm deadline?
The EFL served notice of the 5pm deadline for Bolton last week having grown tired of waiting for the protracted takeover to be completed.
It does not automatically mean they would be out of business if they cannot meet that deadline.
But administrator Paul Appleton revealed on Monday that because of the collapse of the sale of the club, Bolton is no longer a solvent business.
So on Wednesday morning Appleton has warned he will begin the process of liquidating the club - in short, closing Bolton Wanderers down.
Who is involved in the takeover of Bolton?
Bolton were placed into administration over the summer having suffered crippling financial problems which left the club facing a winding up order.
Owner Ken Anderson had been unable to pay the wages, but he currently remains in place while the administrator tries to find a buyer.
A consortium known as Football Ventures had been working towards completing a deal to purchase the club with the administrators.
That takeover collapsed over the weekend when legal teams working for all parties hit a stumbling block they were unable to overcome.
Anderson is believed to be asking for the deal to include an indemnity against any potential civil action against him in the future.
What happens if Bolton are liquidated?
If liquidation begins, it means the club failed to meet the EFL deadline - and the club's membership of the league would be revoked once bosses ratify the withdrawal of their licence.
The club will cease to be in existence in the current form, with the loss of 150 jobs.
It would have to restart in a different form in the lower reaches of the non-league game.
What happens to League One if Bolton are expelled?
If Bolton lose their membership, their results this season will be expunged from the record books and the division would reduce to 23 teams.
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