BOLTON WANDERERS have avoided administration and a possible points deduction after agreeing a last-minute loan repayment.
The Championship side were prepared to pay back £4million this week to BluMarble Capital Limited but saw it rejected by their main creditor.
Owner Ken Anderson warned fans this could see the former top-flight mainstays go under – with a two-year transfer embargo and 12-point deduction.
However, BluMarble have now made a u-turn and after agreeing to accept the club’s pay-off.
And a relieved Anderson said: “Following on from all the speculation, I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid.
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“I was also able to reschedule and reduce a number of other club liabilities which in all have reduced future costs and liabilities by circa £1.5m and will be of great assistance to the club going forward.
“As previously stated, I believe the club now has one of the lowest debt positions in the Championship.
“I fully appreciate and understand that the last couple of days have caused some consternation for you all, and I would like to apologise for that, but the whole process has been very complex and far from easy.
“We can all now put this behind us and move onwards and get fully behind the team as they look to continue their excellent start to the campaign when they return to the University of Bolton Stadium on Saturday for the game against QPR.”