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Bolton have avoided administration after agreeing a deal to pay off their main creditor, chairman Ken Anderson has announced.
Anderson had warned the Championship club faced administration after an initial offer to repay BluMarble Capital Ltd was rejected.
But he issued a statement on Wednesday afternoon which read: "I am pleased to confirm that the loan from Blu Marble Capital Ltd has been repaid.
"I am also pleased to be able to confirm that the loans to both PBP (Michael James) and Brett Warburton have been extended on better terms for the club.
"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 £1.5million."
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Sam Allardyce has left Everton after steering the Toffees to an eighth-placed finish in the Premier League.Read the full story ›
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Everton boss Sam Allardyce has moved to dismiss claims there is a problem between himself and Wayne Rooney .Read the full story ›
Sam Allardyce is adamant he wants to remain as Everton boss beyond the end of the season.
The Toffees are 11th and sit one place behind weekend opponents Brighton, with their away form still a major cause of concern for Allardyce.
Reports over the weekend suggested majority shareholder Farhad Moshiri could even try to tempt Arsenal manager Arsene Wenger to Goodison Park over the summer if he were to leave the north London club, but Allardyce is determined to remain in post on Merseyside.
"Of course (I want to stay). These are tough times, there are times when you have to draw in, close the doors and stay focused on what you want to achieve," he said at his Thursday press conference.
"I'm having talks with (Moshiri) but (the content of those discussions) is confidential. It is my responsibility to get the team to play to the level they can play. I think when they play their best we can give anyone a game."
Roy Hodgson revealed Sam Allardyce has never apologised to him for mocking the way he speaks - and says it is too late nowRead the full story ›
Everton's players should not need reminding of their responsibilities on social media, according to manager Sam Allardyce.
The understanding is that Toffees defender Mason Holgate could face a Football Association charge for alleged homophobic tweets sent from a now-deleted Twitter account more than five years ago.
The governing body is aware of three tweets the 21-year-old apparently sent in 2012 and 2013 when he was a member of Barnsley's youth set-up, that contain pejorative terms for gay men. Holgate joined Everton in 2015.
Asked if he was aware the FA was looking into the posts, Allardyce said: "In terms of awareness, yes.
"In terms of when it happened years ago, he's fully aware and doesn't need to be reminded of the situation because they already know.
"Because we go through meeting after meeting, all areas, through the FA, through the PFA (Professional Footballers' Association) on what to do and what not to do.
"This is a historical tweet from years ago so he doesn't need any reminding because all the players have already been made aware for more than this year.
"I think it's been going on for years that we've been pointing out to players what they do and what they don't do.
"It's not in my hands whatever the situation is now, but we will find out if and when what the course of action is."