BOLTON WANDERERS owner Ken Anderson faces a race against time to sell the club – with two massive dates looming next month.
Anderson admitted he is in talks to find a new owner as he tries to raise funds to pay the wages at the crisis club.
And Bolton are due in court to face a winding-up order from HMRC which is due on March 20.
Shortly after is the date for Wanderers to go into administration as the Football League have a cut-off point on March 28.
If Bolton took the admin route after that it would mean a 12 point penalty is applied NEXT season which is a huge handicap even in League One and would slash the value of the club.
Anderson confirmed Bolton has a heads of agreement deal with an identified buyer, believed to be Cheshire-born Parminder Basran.
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The financial expert has funds behind him to buy Bolton and has football expertise from former Brentford and Rangers boss Mark Warburton in his team.
Anderson is trying to broker a pay off deal with the family of late owner Eddie Davies, a sum of at least £5million that will come out of the proceeds of a sale worth around £25 million.
After three wins in their first four league games, Phil Parkinson’s side have nosedived to second bottom the Championship, three points from safety after Saturday’s home drubbing against Norwich.
Bolton face the tough task of going to Elland Road this weekend to take on promotion-chasing Leeds United.
This post written by whaughton originally appeared on Football news - transfers, fixtures, scores, pictures | The Sun. Read the full post here.