Bolton Wanderers: Administrators give bidders Wednesday deadline for offers

Bolton Wanderers were relegated from the Championship last season after finishing in 23rd place
Bolton Wanderers were relegated from the Championship last season after finishing in 23rd place

Bolton Wanderers' administrators have given potential bidders until 16:00 BST on Wednesday to make their final offers for the League One club.

Six potential parties met last week's initial deadline, but one has already been eliminated from the running.

The five remaining candidates now have two days to supply a final offer as well as proof and source of funding.

Joint administrator Paul Appleton said they hope a heads of terms agreement could be signed by Friday.

"We have made it clear from the outset of this process that speed is of the essence," he said.

"Bidders have to be aware of the time constraints. Urgent decisions as to the sale will need to be made in the best interest of the club and creditors as we work to finalise a deal over the coming weeks."

Wanderers went into administration at the end of a tumultuous season which saw problems on and off the field, and culminated in relegation from the Championship.

A winding-up petition against the club over unpaid taxes was suspended by the High Court after the club went into administration, and an emergency food bank was set up to help out staff who had not been paid.