BOLTON have gone into administration and face a points deduction in League One next season.
The Wanderers, relegated from the Championship this campaign, confirmed they had appointed administrators after appearing in court last week over an unpaid £1.2m tax bill.
Bolton, the first club to go into administration since Aldershot in 2013, are likely to start life in English football's third tier with a 12-point deduction.
They have appointed Paul Appleton and Asher Miller of David Rubin & Partners as administrators.
Appleton said: "This has obviously been a long-running situation and it is vitally important that we quickly establish the position of both the football club and the holding company.
"It has got to the stage where the Trust could not sit back and allow the club to go into liquidation. Decisive action had to be taken and the Trust believes the decision is in the best interests of Bolton Wanderers.
"Everybody at the club as well as the supporters need a sense of clarity and that is what I will be seeking to provide as quickly as possible."
Everybody at the club as well as the supporters need a sense of clarity and that is what I will be seeking to provide as quickly as possible
Bolton's future is being decided from beyond the grave by their former owner Eddie Davies.
The former Bolton owner's family have put the club into administration and will then have the major say in who gets it as the main creditors.
Davies's old Fildraw company are due a guaranteed return from a £5 million loan plus interest, funds given to former chairman Ken Anderson to pay off previous backers BluMarble.
And the Davies family, who have no interest in football, also have claims of a further sum of around £18 million that is unsecured.
That cash is over 50 per cent of the total debt of £41.6 million that has forced the relegated outfit to take the admin route even if it means a 12 point penalty in League One next season.
Insiders believe that unsecured creditors, including the Davies trust, may have to accept 20p in the pound to get the club sold at a reasonable price.
The Davies family pushed the button because Anderson faced potential issues with takeover bidder Laurence Bassini who was given the chance to but the club but failed to deliver.
This approach has been approved by the Football League while the administrators claim it helps Bolton avoid the prospect of liquidation and brings clarity to their future.
The new buyers will also have to prove they can fund Wanderers for two years to get the Golden Share of ownership from the Football League.
Two main groups are heading the bidding. Football Ventures, including another major creditor Mike James, and Chinese company Shandong Luneng Power seem best placed to foot the bill.
James is due around £6.5 million of his money back. He is in the FV group and is also key to the whole process.
Meanwhile players and management are due to get their delayed ages soon as the clib's bank account will be unfrozen when administration staff get into the building on Tuesday.
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