During a sports week in which many players are sure to move to new clubs and UEFA prepares their Champions League Group Stage draw, one news story has swept up anyone who cares for the EFL and it's more than 70 clubs. That's because after several months, even years, of financial ineptitude over at Bolton Wanderers, the club has finally assured their future as a functioning organization after completing it's sale over to a new ownership entity.
The club announced on Wednesday that they have finally finished their transition over to Football Ventures (Whites) Limited, thus saving them from absolute liquidation. And it couldn't have come at a better time either because the club was less than 14-days away from that existing only in the history books after the EFL granted them a final chance at salvation.
The new ownership group released a statement on the club's website around the time the news first broke where they stated that they are determined to bring glory back to Bolton.
"We are excited to begin restoring this magnificent football club to its rightful position, securing its future for the fans, the loyal club staff, and the players."
They added that they will now begin the search not only for a new manager after Phil Parkinson left just last week but also for some players. In recent weeks, the club had to field a spread of young academy players who had to not play in matches week in and week out but they also had to prepare for important nationwide testing. Many of these players may very well never play professionally again, opting instead to have other professions or go to college.
Currently, the club rests at the bottom of the League One table with -11 points. They initially received a 12 point deduction after falling into administration soon after they were relegated from the Championship in May. They have since only drawn one time in four matches and have conceded 12 goals in three others. They will surely be sent down to League Two at the conclusion of this season, but a move down is easily better than not existing at all, which has been echoed by many of the more well known Bolton fans online.
EFL Executive Chair Debbie Javens wrote in a statement on the institution's website that because of the new ownership, the club will no longer be in administration. "These past few months have undoubtedly been challenging, and at times fraught - never more so in the past few days - and I would like to thank all parties for their efforts in achieving this desired outcome...Everyone at the EFL is now looking forward to working with the new ownership during the 2019/20 campaign and beyond."
Now while this is some phenomenal news for everyone associated with the club, all of this does come one day after fellow Manchester area and League One club Bury FC were kicked from the EFL after they failed to bring in a new ownership team. As of now, it appears that the Shakers will dissolve after over 125 years of existence. We here at FancredSports.com send our heartfelt condolences to all the Bury fans who are understandably distraught, disgusted, and saddened by this news. Today, we are all Bury.
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