‘Best and final’ bids were due in at 4pm yesterday from five parties still in the race to buy the club – and one bidder, says administrators, ticked every box.
Bids were judged on, but not limited to: The highest bid for the club, proof and source of significant funding, ability to fund the club for a minimum of two years, ability to satisfy secured, football and unsecured creditors and EFL approval.
The preferred bidder has also agreed to inject £1million into the club in order to fund the immediate running of the club and the rebuilding of the playing squad ahead of the new season.
Paul Appleton of David Rubin and Partners said: "I am delighted we have been able to reach a more than satisfactory outcome to this stage of the process and I am confident the preferred bidder has the ability to take Bolton Wanderers forward.
"We are now working towards a signed Heads of Terms agreement by close of play on June 14 and until that has been signed, we are still bound by the confidentiality agreement within the process.
"But I can assure all Bolton Wanderers fans that the preferred bidder has both the financial ability and the determination to turn around the fortunes of this great football club."