Struggling Bolton have won a reprieve in their fight for survival after tax officials asked for the Championship club to be wound up.
Lawyers representing Bolton told a specialist judge at the High Court on Monday that efforts were being made to raise money. And Registrar Clive Jones said more evidence would be analysed at another hearing next month.
On January 18, Registrar Michael Briggs heard that Bolton owed HM Revenue and Customs £2.2million.
A Bolton spokesman indicated after that hearing that bosses were aiming to find a buyer or raise money from asset sales.
On Friday, Bolton bosses said the club's training ground had been sold to Wigan.
Bolton Wanderers can announce that the club has today been given an adjournment of 14 days by the High Court in order to conclude a deal with the Sports Shield Consortium in taking ownership of the club. Trevor Birch, advisor to the board and owner at Bolton Wanderers, said: “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.
Bolton manager Neil Lennon wants his players to honour long-serving chairman Phil Gartside by staying in the Championship.
Gartside died from cancer on Wednesday at the age of 63, three months after ill health forced him to step away from his duties at the club.
I'd like to think the players would make a stand for Phil now and do something positive in his memory. And that is to survive.
We've given ourselves a foothold in the race. We've got some difficult fixtures to negotiate but there's an extra motivation now - as if we needed any more.
I know some of the players were close to Phil as well and had a great relationship with him so hopefully through all these bad times there might be something good to come out of it in terms of driving the club forward.
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Non-league Eastleigh's FA Cup journey ended in a 3-2 loss at Bolton as captain Darren Pratley's second-half winner eliminated a club 53 places below Wanderers in the football pyramid.
In an enthralling third-round tie that had been snubbed for television coverage, the only side outside of the Football League still in the competition led through Joe Partington's 11th-minute opener.
At that point Neil Lennon's Championship side were facing up to the possibility of being embarrassingly dumped out of the FA Cup just a day after HM Revenue and Customs had, unsuccessfully, tried to have them liquidated in the High Court over an unpaid tax bill of £2.2million.
Cash-strapped Wanderers were given a five-week stay of execution in the court on Monday and fought back on the pitch too as goals from Gary Madine and Dean Moxey put them ahead.
And even though Kaid Mohamed levelled in first-half stoppage time, Pratley, whose 87th-minute equaliser forced this replay, proved the Spitfires' scourge again to set up a fourth-round game against Leeds.
One of English football's most historic clubs have earned a temporary reprieve in their bid to stay in business.
Financially-troubled Bolton Wanderers have avoided moves in the High Court to have the club wound up immediately while they seek new ownership to help clear their debts.
The former Premier League side - now bottom of the Championship - were given until February 22 to find a rescue scheme aimed at repaying £3 million in debts and creditors.
A two-man delegation had travelled down to London to submit a business plan to stave off voluntary administration, which triggers a 12-point deduction, at a time when the club's fortunes on and off the field are dire.
Wanderers sit 19 points from safety in English football's second tier and are virtual certainties for relegation to League One.
Bolton assistant manager Steve Walford said Neil Lennon is "very sorry" after Wanderers cleared him to stay on as manager following an internal investigation.
The Championship club announced on Tuesday that the Northern Irishman would remain in his post after they looked into allegations made about Lennon's private life in a Sunday newspaper.
Walford faced the media on Wednesday and revealed Lennon had addressed the matter with his squad and was hoping to move on from it ahead of the bottom-of-the-table clash with Rotherham on Boxing Day.
The situation with the manager now has been cleared up regarding the staff and the players; he's spoken to them and they're all behind him.
He's obviously down and very sorry for his actions. I've known Neil a long time and he'll bounce back, no danger. The players and the club are all behind him now. As far as I'm concerned, I think the matter's closed.
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There may be light at the end of the tunnel for Bolton's bleak financial situation, with the Sky Bet Championship club hopeful a takeover can be announced next week.
Wanderers' state was termed "increasingly perilous" by advisor Trevor Birch on Tuesday after it was revealed Neil Lennon's squad had yet to receive their wages for the month of November.
And despite fears of administration looming at the Macron Stadium, Lennon was able to provide a positive update on the crisis on Thursday morning.
I've spoken to Trevor and a few board members this morning and there seems to be some green shoots of recovery now.
There has been three, maybe four interested parties, and I think it's a case of first past the post really. Obviously there are a lot of guarantees to be made, a lot of negotiations to go on, but it's looking healthier than it was two or three days ago.
Trevor's a lot more confident now that something will get resolved. People are talking to solicitors, it's basically a question of who can come up with the money first. He seems pretty happy that something will get over the line.
The board, Trevor, are hoping to get new investors in and, hopefully, an announcement (will be) made sometime next week. That will, hopefully, ease the alarm of everyone around the place.
Championship side Bolton are in an "increasingly perilous" financial situation according to advisor Trevor Birch.
The club failed to pay their first-team for November, it was confirmed on Monday, as owner Eddie Davies attempts to sell the Trotters.
Any hope of an imminent sale appears unlikely after Birch, hired to facilitate a takeover, confirmed none of those interested in purchasing Bolton were close to taking control from Davies, who is prepared to wipe out £185million of debt owed to him.
We spoke to the players today and they remain upbeat and committed to doing all they can to help the club through this difficult time.
We're continuing to negotiate with interested parties but unfortunately no one party has demonstrated all the requisite elements needed to conclude a deal yet. The club's position is increasingly perilous and new investment is needed quickly.
We'd like to thank the fans for their continued support and all of the behind-the-scenes staff for their continued hard work in difficult circumstances.