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Dec
2015
Friday 11th
posted by Morning Star in Sport

by Our Sports Desk

Bolton were served with a winding-up petition yesterday from HM Revenue and Customs over an unpaid tax bill.

Wanderers’ alarming financial crisis has deteriorated rapidly over the past few weeks after it was revealed they had failed to pay their players for November and now HMRC has rejected requests from them to be given more time to conclude a sale.

Bolton had hoped they could conclude a takeover this week after drafting in financial adviser Trevor Birch to help long-time owner Eddie Davies, who is willing to wipe out £185 million of loans owed to him, sell the club.

However, with discussions still ongoing, HMRC has now acted to call in unpaid PAYE and VAT for the month of November.

It raises the possibility of administration for Neil Lennon’s bottom-of-the-Championship side, who would have their entire total wiped out if they were to incur the 12-point deduction.

A statement read: “Bolton Wanderers can confirm that the club has now received a winding-up petition from HMRC in respect of unpaid PAYE and VAT for the month of November.”

Birch added: “Quite clearly the club remains in a critical financial position.

“We will continue to try and finalise a sale or alternatively raise some short-term funds needed to give the club a breathing space and time in which to consider its options.”




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