It has been announced today that Bolton Wanderers owner Ken Anderson has agreed to sell his shares to former Watford owner Laurence Bassini, subject to the takeover being approved by the EFL. It would bring to an end the controversial tenure of Anderson, with many Bolton Wanderers fans staging several protests against his running of the club.
Bassini, however, in 2013, was given a 3-year ban from being involved in a position of authority with any EFL club after being investigated for misconduct arising from the handling of 2 financial transactions whilst Watford owner and director.
A club statement on the takeover read:
"Bolton Wanderers Football Club are delighted to announce that a sale and purchase agreement has been signed which will see Ken Anderson's shareholding in Burnden Leisure Limited being sold to Mr Laurence Bassini.
This agreement will give Laurence Bassini full control of Burnden Leisure Limited and of course both Bolton Wanderers Football Club and Whites Hotel.
The change of ownership requires approval by the English Football League before the deal can be finalised. The financial terms of the transaction will remain private and confidential between the parties.
We are sure supporters will be very pleased to understand that as part of the transaction, all of the existing loans to the club will be settled in full and the associated charges removed, meaning the business will be debt free for the first time in many years.
Outgoing Chairman Ken Anderson said: "I am very pleased to hand over ownership of this great club to Laurence, I wish him and all of our supporters the very best for the future."
Prior to the ratification by the EFL, significant funds will be immediately be made available to the club enabling the payment of the outstanding wages to the players and coaching staff along with a number of the long term creditors.
Once completion has occurred, all the long terms debts to HMRC and suppliers will be settled.
Further comments including an interview with Mr Bassini will follow in due course."