Bolton Wanderers chairman Ken Anderson has announced he will be forced to place the relegated English Championship club into administration. Former Watford chairman Laurence Bassini had made a takeover bid but Bolton said last week the deal was off.
The club have been given more time to sort out their financial affairs by a judge in a specialist court, who adjourned an application to wind up the club at a hearing in London on Wednesday. The judge heard that Bolton owe the taxman more than £1 million ($1.3 million) and said the case would be reconsidered on May 22. "Mr Bassini, regrettably his continued time-wasting and empty promises have caused a great deal of heartache and frustration for the staff and supporters alike," Anderson said in a statement on the club's official website.