Bolton Wanderers have agreed a £7.5m takeover deal with the Sports Shield consortium, headed by former Trotters striker Dean Holdsworth.
The financially crippled club, who are second bottom of the Championship, were due in the High Court on Monday over a £2.2m unpaid tax bill. However, they had their winding-up order adjourned until 7th March, so that a deal can be completed, subject to Football League approval.
After months of talks alongside current owner Eddie Davies, Holdsworth’s consortium were recently given exclusivity to go ahead and complete the takeover.
“I can’t put into words what a tough process this has been.
“We shouldn’t have been talking about saving a football club, but to do it makes this a very special thing for us.”
Bolton’s Financial Advisor, Trevor Birch, added: “Whilst this continues to be a challenging time for everyone associated with the club, we are confident that this adjournment will give us the necessary time to conclude a transfer of ownership of the club, subject to approval from the Football League.
On Friday, Bolton sold their Euxton training ground to local rivals, Wigan Athletic, for £2.5m.