Bolton Wanderers have been given 14 days to save themselves and avoid losing their Football League membership.
The Trotters had been handed a 5pm (Tuesday August 27) deadline to solve an impasse in negotiations regarding the completion of a sale.
However, despite further negotiations over the Bank Holiday weekend, the EFL have decided to lift the suspension on the notice of withdrawal, which was previously issued per the EFL’s insolvency policy when Bolton entered administration in May, 2019.
"As per the League’s Articles of Association, this will now give the club 14 days (11.59pm on 12 September, 2019) to meet all outstanding requirements of the League’s insolvency policy or its membership in the EFL will be withdrawn," an EFL statement read.
"In respect of the situation at Bolton Wanderers, the administrators now have this period of time to successfully conclude a change of control with a preferred purchaser, or provide sufficient evidence that they are in a position to fund the club for the remainder of the 2019/20 campaign."
Debbie Jevans, EFL Executive Chair, added: “Despite repeated assurances, we are extremely disappointed that we are still not in a position to reach a successful resolution with the sale of Bolton Wanderers and have therefore taken the decision to lift the suspension on the notice of withdrawal. I again urge all parties to finalise the proposed takeover.
“The reality of this action is that there are now 14 days to secure the club’s long-term future, and I sincerely hope we can find a way through these challenging circumstances for the benefit of all those who have an association with the club.”
