Skip to main content

Agreement on new owners for Bolton

Bolton Wanderers have been through a very difficult period, but hopefully things are now looking up with agreement for the Football Ventures consortium to take over the club. They were one of five bids received: New owners

Football Ventures is a company registered in January with the sole purpose of buying Bolton. It has satisfied the administrators that it has funding for at least two years.

The four strong consortium is led by Sharon Brittan. According to Bloomberg, 'Sharon Brittan serves as Non-Executive Director at UKCloud Limited. During a career spanning more than 25 years Sharon has completed multiple real estate development projects and now advises on investment and asset management. Her achievements included co-founder and CEO of Britannia Row Business Centre, an award-winning property offering flexible workspace solutions; CEO of One Alfred Place, a private members business club in the West End of London.'

The club went into administration at the end of last season after a failed takeover bid from the former Watford owner Laurence Bassini. The club will start their League One campaign with a 12 point deduction.

Under unpopular owner Keri Anderson staff went unpaid for several weeks and a food bank had to be set up at the Macron Stadium. The squad is currently down to six senior players. Football Ventures has pledged to pay the wages of players and staff who were not paid by Anderson in the last few months of the season.

I hope that this historic club is soon on the road to a full recovery.

Labels:

Comments

Post a Comment

Popular posts from this blog

Fulham requires big funding from owner

After lengthy delays, Fulham’s shiny, new Riverside Stand has finally opened, creating “a unique Thameside destination with first class facilities for supporters and partners on match days, as well as for the wider community year-round”. This ambitious project has increased Craven Cottage’s capacity by around 4,000 to 29,600, while it has also taken advantage of the club’s fantastic location and wealthy catchment area by including two Michelin star restaurants, a rooftop swimming pool, corporate hospitality and event space, all benefiting from views of the Thames. Chief executive Alistair Mackintosh observed, “Fulham is the sort of club that can have a business class or first class and have fans that turn left on a plane.” Indeed, there is also an exclusive members club – with a football season ticket as an optional extra. It’s fair to say that “the times they are a-changing”, as this is a long way from the traditional pie and a pint. However, in a world where clubs face the tw...
Post a Comment
Read more

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...
1 comment
Read more

A poor financial record, but new hope at Everton

I recently saw an amusing video online in which a group of Everton fans were rebuked in jest for being hopeful.  Football fans in general tend to swing between excessive optimism and excessive pessimism, but for many it seems that moaning is in their bloodstream (Spurs fans probably take the trophy).  However, Everton fans have had plenty to moan about on and off the pitch.   Let’s hope that a new era is about to begin for this grand old club. Everton’s 2023/24 financial results covered a fairly momentous season, when they ended up 15th in the Premier League, though they would finished three places higher if they had not received an 8-point deduction for breaching the Premier League’s Profitability and Sustainability Regulations (PSR). It was a worrying time for Everton fans, as the club faced a “perfect storm” of issues, including large financial losses, an ever increasing debt burden, a challenging stadium build and the tortuous sale of the club. There were eve...
Post a Comment
Read more