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Laurence Bassini agrees to buy Bolton Wanderers
Former Watford owner Laurence Bassini has agreed to buy Bolton, subject to approval from the EFL.
In a statement on the club’s website current 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."
The statement also said: "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.
"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.
“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.”
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Bassini was banned from any football involvement for three years in March 2013.
Bassini's ban came after an independent football disciplinary commission investigated alleged misconduct charges arising from the handling of two financial transactions in 2011 which occurred during Bassini's tenure as owner and director of Watford.
The commission found that "both defendants breached Football League regulations regarding the securitisation of future transfer fees and central distributions."
Bassini left the club in 2012.
On the pitch, Bolton find themselves in a relegation battle in the Championship. The club are 10 points from safety with four games remaining, having lost their last three games in a row. They could be relegated on Saturday if they lose to promotion chasing Aston Villa.
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