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The Bolton Wanderers run the risk of liquidation after the transfer of the club and the search for a buyer has failed because of the high taxes that the club owes to the UK authorities.
"Bolton's interim administration said that the club's latest offer for sale had failed," Sky said.
"Bolton will begin the liquidation process if the club is not sold until 5 pm, UK time, Tuesday."
What happened?
Ken Anderson took the presidency of Bolton in March 2016 as part of an alliance led by former striker Dean Holdsworth, after former owner Eddie Davis sold 94.5% of his stake in the club.
Davis had injected £ 185 million of his own money into the club's outstanding Premier League years.
A year after Anderson's takeover of Bolton, he acquired full management of the club, but Anderson has been involved in a lot of suspicious management work since 2005, and his companies have not proven they had paid taxes.
Since Anderson took office, Bolton's situation got so much worse that he was relegated to the third division, but he returned to the championship.
The players went on strike during the preparatory phase not to touch their dues. The crises continued until September 2019 and the first team players did not receive their due in November and December to move into the stadium and suffer Bolton.
ATP decided to intervene for the first time at the end of December to make sure the players were getting all their money, but Ken Anderson confirmed that he had them paid, but the league then received nearly half a million pounds of dues for players.
Sky said in a report in January that Anderson had found no investor for the team. The team continued to fall and won only one game among 17 games played until January.
Payments in the event of a crisis continued until March, when the crisis doubled and the team entered its worst day in 145 years of existence.
The Tax Department announced that the Bolton Club had 16 months of unpaid taxes estimated at £ 1.2 million. The order was transferred to the Supreme Court.
In May, after Bolton relegated to the third level, the court decided to appoint a club administration to decide his fate between liquidation or transfer to another administration.
The court has allowed Bolton to find a new buyer until 27 this month. The administration tried to sell the club this month and was about to do so, but the deal is at a standstill.
Bolton has won the FA Cup four times and the Charity Shield has already been played by players such as Ivan Campo, Jay-Jay Okocha, Gary Cahill, Nicholas Anelka, Yuri Gorkayev, Eidur Godianson and others.
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