Football Ventures have completed their takeover of Bolton Wanderers, the club’s administrators have confirmed.
The EFL announced on Tuesday night it had given Bolton’s administrators 14 days to either sell the club or prove they could fund them for the rest of the season.
The club would have been withdrawn from the Football League if they failed to meet the deadline, but that situation has now been averted.
Bolton’s joint-administrator Paul Appleton described the process as “one of the most complicated administrations I’ve been involved with”.
Appleton added: “I’m delighted to say we have finally reached a satisfactory conclusion with the sale to Football Ventures.
“At times, some of the hurdles appeared insurmountable and the frustration felt has been immense, not least by the supporters who have had to endure too many weeks of uncertainty.”
Appleton reserved special praise for the Eddie Davies Trust, the PFA and the EFL, saying: “I would like to pay particular tribute to the Eddie Davies Trust and their legal team who, throughout this whole process, have been willing to do everything in their power to ensure Eddie’s incredible legacy was maintained and not sullied.
“Even at the 11th hour when other parties were content to renege on their agreements, the Trust realised the very existence of Bolton Wanderers was at stake and were willing to find a compromise to save the club.”
Appleton hit out at former Bolton owner Ken Anderson, accusing him of “hampering and frustrating” the deal, and warned there will be “difficult times ahead”.
However, he thinks Football Ventures “will run the club for the good of the supporters and the community as a whole”, adding, “for everything the fans have had to endure, they deserve nothing less”.
Bolton began the season on minus-12 points after being placed into administration, and manager Phil Parkinson and his assistant Steve Parkin resigned earlier this month.
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