Sales Process Begins for Historic English Club Bolton Wanderers
GLASGOW, Scotland, May 22, 2019 /PRNewswire/ -- Today, Paul Appleton, the Joint Administrator for Bolton Wanderers, has confirmed that the club is now being actively marketed for sale.
Hilco Global, through its Hilco Appraisal Limited division in the UK, have been employed as agents of the Administration and will contact all parties who have so far expressed an interest in buying the club.
Bolton Wanderers FC was founded in 1874, taking on its current name in 1877 and is one of 12 founding members of the Football League in 1888. The Club is due to compete in next season's EFL League One, but has a rich history including lengthy spells in the Premier League and a number of league and FA Cup titles.
Given the high profile of the sale and anticipated press interest, several stipulations have been put in place which need to be met before any access to financial information pertaining to the sale can be disclosed.
These include a £25,000 non-refundable deposit for data room access and proof of funds amounting to not less than £25 million, which will take into account those parties also interested in acquiring the Whites Hotel associated with the club.
Mr Appleton said: "There has been substantial interest from the moment of our appointment on May 13. Over 30 parties have approached us and we will now begin the process of selecting those to make a serious offer for the club."
"Speed is of the essence in this process and we are advising all those with a serious interest to provide information concurrently to the EFL in respect of their Owners' and Directors' Test in order to satisfy those demands."
"Hilco have an outstanding reputation in this market and I am confident that we will soon have whittled down the list of potential buyers in order to find the best purchaser for the club and restore the standing of Bolton Wanderers."
Hilco Global's Nat Baldwin commented: "Bolton Wanderers FC is magnificent football club, propelled by its heritage, historic success and loyal fan base. The club is a fantastic opportunity and we are delighted to be able to assist in finding a buyer that will rejuvenate the club in the coming years."
About Hilco Global
Hilco Global is one of the leading international financial services companies having completed billions of dollars of transactions around the world. Through 500 professionals operating on five continents, Hilco Global helps companies and their professional advisors understand the value of assets and then maximize that value through asset monetisation solutions, and enhance value through advisory and consulting solutions. Hilco Global serves retailers, wholesalers, distributors and manufacturers, directly and through their lenders, investors and advisors, which can include private equity firms, hedge funds, investment banks, law firms, turnaround professionals, accounting professionals, bankruptcy trustees and receivers.
Logo - https://mma.prnewswire.com/media/460195/Hilco_Global_Logo.jpg
Share this article