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OFFICIAL Heads of Terms Signed

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1OFFICIAL Heads of Terms Signed Empty OFFICIAL Heads of Terms Signed on Sat Jun 29 2019, 16:37

Sluffy

Sluffy
Admin
Statement on behalf of the Joint Administrators for Bolton Wanderers

The Joint Administrators for Bolton Wanderers can confirm a Heads of Terms agreement has been signed with the preferred bidder for the acquisition of the club.

Paul Appleton of David Rubin & Partners said: “For legal reasons, I cannot name the preferred bidder until Monday. But I realise just how important it is Bolton fans are given confidence we are now a major step closer to the sale of the club and securing its future.

“This has not always been a straightforward process owing mainly to the need to condense what would normally be a four to five month timeframe into closer to seven weeks.

“But there has been a willingness on all sides to work tirelessly to ensure the survival of the club and, in particular, I’d like to thank the Eddie Davies Trust who have shown a deep and true understanding of what Bolton Wanderers means to the fans and the wider community.

“Again, I’d like to reiterate my regret at not always being able to keep the supporters completely up to speed with the progress of the deal but the important thing is the club is now a further step forward to being saved. Now begins the rebuilding process.

"With the Heads of Terms having been signed, we move towards a Sale and Purchase Agreement and completion of the transaction at the earliest possible stage.

“This club has suffered greatly but I would like to pay tribute to all the staff who, under the most dire of circumstances, have shown their loyalty and devotion to Bolton Wanderers. The deserve days like this after all they have been through.
“The next step is a completion of the deal and the start of a new era for the club. There will be a further update in due course."

https://www.bwfc.co.uk/news/2019/june/statement-on-behalf-of-the-joint-administrators-for-bolton-wanderers2/

2OFFICIAL Heads of Terms Signed Empty Re: OFFICIAL Heads of Terms Signed on Sat Jun 29 2019, 16:57

BoltonTillIDie

BoltonTillIDie
Nat Lofthouse
Nat Lofthouse
Finally

3OFFICIAL Heads of Terms Signed Empty Re: OFFICIAL Heads of Terms Signed on Sat Jun 29 2019, 17:04

wessy

wessy
Andy Walker
Andy Walker
Great news but we still have to wait for any detail.  Just the EFL to kick us in the nuts now,

4OFFICIAL Heads of Terms Signed Empty Re: OFFICIAL Heads of Terms Signed on Sat Jun 29 2019, 18:12

luckyPeterpiper

luckyPeterpiper
Frank Worthington
Frank Worthington
Legal reasons mean the winner can't be named until Monday? It may be a daft question but why is that the case? Is there some deep dark hoodoo about completing deals on a Saturday?

But it's very good news whatever the reason for the delay in officially 'unveiling' the buyer. As a general rule does anyone know roughly how long it should take to go from "Heads of Terms" to outright sale of the club?

5OFFICIAL Heads of Terms Signed Empty Re: OFFICIAL Heads of Terms Signed on Sat Jun 29 2019, 22:58

Sluffy

Sluffy
Admin
@luckyPeterpiper wrote:Legal reasons mean the winner can't be named until Monday? It may be a daft question but why is that the case? Is there some deep dark hoodoo about completing deals on a Saturday?

But it's very good news whatever the reason for the delay in officially 'unveiling' the buyer. As a general rule does anyone know roughly how long it should take to go from "Heads of Terms" to outright sale of the club?

It's probably something to do with the NDA (Non Disclosure Agreement) both parties signed and when anouncements can be made.

Iles has already tweeted that its FV anyway!

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