By Mike Keegan For The Daily Mail
Published: 18:55 GMT, 20 March 2019 | Updated: 18:55 GMT, 20 March 2019
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Bolton Wanderers have been given a two-week stay of execution after telling a court that they have found an unnamed buyer.
The cash-strapped Championship club were handed a fortnight extension at the High Court on Wednesday, where a hearing to rule on a winding up petition with more than £1m owed to the taxman was delayed until April 3.
Bolton's lawyer, Hilary Stonefrost, told the court that a takeover deal had been agreed with a mystery purchaser with a share in another club. She added that when a sale goes through funds will be made available to settle debts.
Bolton Wanderers have been given a stay of execution as they fight to avoid liquidation
'The buyer is someone who already has a major stake in a high level football club,' Ms Stonefrost said, before asking for a two-week adjournment to allow the deal to be completed.
Sportsmail understands that talks are actually ongoing with a number of parties. The deal put forward on Wednesday is thought to have been a successful move which was aimed at buying time. Insiders have disclosed that negotiations continue with interested parties from the UK and overseas.
Controversial owner Ken Anderson has been looking to sell Bolton, who look set to be relegated to League One, and saw a proposed deal collapse over the weekend.
On a number of occasions under Anderson's watch payments have been made late to players and staff. Earlier this month, the club's training ground was closed for a day thanks to a lack of fuel and supplies while desperate staff - waiting for their latest pay checks - sought small handouts from the club to allow them to petrol in their cars and food on the table.
Bolton's home fixture with Millwall on March 9 was also under threat before the club managed to convince the local council that they had the resources to ensure the match could be staged safely.
The cash-strapped Championship club was dragged before the High Court on Wednesday
Owner Ken Anderson has been looking to sell Bolton and saw a proposed deal collapse
Anderson, who took over in 2016, paid himself £525,000 in his first year in charge. He had hoped to sell to the Football Ventures consortium, led by Parminder Basran
