Bolton face beginning next season with a 12-point deduction because chairman Ken Anderson claims administration is “unavoidable”.
Anderson says he has no option but to call in the administrators following the collapse of Laurence Bassini’s takeover last week.
Anderson made the admission as a High Court judge considered a winding-up order brought against the club by the taxman and other creditors for unpaid debts of £1.2million.
Administration will mean a 12-point penalty for Bolton in League One next season, but Anderson claims it is the only way to preserve the club with the alternative being liquidation.
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In a statement on Bolton’s website, Anderson blamed Bassini for causing the latest crisis by reneging on his promise to fund a buy-out.
“Mr Bassini, regrettably his continued time wasting and his empty promises have caused a great deal of heartache and frustration for the staff and supporters alike,” said Anderson.
“They now leave the Eddie Davies Trust and I with little or no choice other than for one of us to place the businesses into administration, as any likelihood of finding any resolution in the High Court hearing is not possible.
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“This had been a massive disappointment to me as I understand the serious implications administration will bring to the businesses.
“But I have been left with no alternative as this course of action will preserve the football club and all of its proud history.”
Bolton have been relegated from the Championship and failed to fulfil their penultimate fixture against Brentford when the players went on strike because they had not be paid March’s wages.
