January 12 – Bolton Wanderers, one of the most iconic names in English football, have been given a stay of execution by avoiding an immediate winding-up order.
The famous club, a founder member of the Football League but currently rooted to the bottom of the second tier Championship and under a transfer embargo for breaching Financial Fair Play rules, have been given more time by The High Court to either find a potential buyer or raise sufficient short-term funds.
Bolton are about £172 million in debt and owe the tax authorities £2.2 million. But the High Court rejected liquidating the club, giving them until a fresh hearing on February 22 to secure a rescue scheme.
Bolton, FA cup winners four times, were relegated in 2012 after 11 seasons in the Premier League and tonight face Eastleigh – the only non-league club left in the competition – in an FA Cup third round replay that has suddenly taken on added significance for both of them.
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