English Championship club Bolton Wanderers have agreed a £7.5m takeover by the Sport Shield consortium.
The consortium, which is headed by ex-Bolton player Dean Holdsworth,
signed the necessary paperwork but it is subject to Football League
ratification.
It follows the High Court's decision to grant Wanderers until 7 March to settle an unpaid tax and VAT bill.
Paperwork
was signed on the takeover agreement, which is subject to Football
League ratification, minutes before Monday's winding-up hearing in
London.
The court heard in January that Bolton owed £2.2m to HM Revenue & Customs.
Trevor Birch, advisor to the Bolton board, said in a statement:
"While 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."
Although the initial
takeover fee is £7.5m, the consortium is expected to pay a further
£12.5m over the next five years, with Holdsworth becoming chairman.
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