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Gossip: Davies debt needs settling before takeover

Little snippet from The Sun

Bolton Wanderers v Queens Park Rangers - Sky Bet Championship Photo by Tony Marshall/Getty Images

As reported in The Sun this morning by Alan Nixon, the sale of Bolton Wanderers is dependent on getting the debt owed to Eddie Davies’ family settled.

The snippet from the paper states:

“Bolton owner Ken Anderson is having crunch talks with the family of Eddie Davies, the clubs’ ex supremo.

Davies gave Anderson a £5 million loan before he died in 2018 and that needs to be settled before the club can be sold.

Trotters fan Davies also had an agreement he would get a massive windfall should Wanderers make it back to the Premier League.

That clause may have to be dropped as some of the prospective buyers do not want that bill down the line should they take control and turn it round.

The Davies family have little interest in football and want to sever ties without losing out too much financially.

Anderson may be able to agree a compromise figure with the family but will need to find a guaranteed buyer for the Championship strugglers for that to happen.”

With a winding up order from HMRC and money owed to Bolton Council, lets hope a suitable buyer can be found and quick.