Neil Lennon says Bolton chairman has flown to Thailand for takeover talks

http://www.theguardian.com/football/2014/nov/03/bolton-chairman-thailand-takeover-talks-neil-lennon

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The Bolton Wanderers chairman, Phil Gartside, has flown out to Thailand amid reports that businessmen there want to buy the Championship club.

Talk of a takeover at Wanderers first emanated from Asia last week when Brian Marcar, managing director of the media company BEC-Tero, publicly expressed an interest in the team who are second bottom three of the table.

Gartside had originally cooled such speculation by telling the Bolton News that Marcar’s quotes came as a “complete surprise” to him. However, the Wanderers manager, Neil Lennon, confirmed Gartside had now gone to Thailand for further discussions.

“I don’t know about selling it but I know he’s away in Thailand to discuss a proposition from some Thai businessmen,” Lennon said. “What that is, I’ve no idea. What the ins and outs of it are, I don’t know. I’ll know more when Phil comes back.”

Bolton were relegated from the Premier League in 2012 and their debts reached a staggering £163.8m when the most recent accounts were published in December, with the majority owed to the owner, Eddie Davies.

BEC-Tero already own a Thai Premier League side which has the former Chelsea and West Ham manager Avram Grant as its technical director, a position formerly held by Sven-Goran Eriksson.

“As for the bid to take over Bolton, I must admit I have a close relationship with the club’s president,” Marcar told Thailand’s the Nation newspaper last week. “The club has plenty of property, and most importantly, they have their own stadium, hotel and football academy.

“In terms of their financial status, they made profits between 2004 and 2006, but suffered losses since then, with their debt now standing at £150m.

“However, the club is willing to address this situation. They’re quite ready in almost every aspect. That will help us benefit in many ways, especially when it comes to Thai players playing in England.”

Earlier this month, Gartside had confirmed he would entertain prospective buyers. “If you want to go and put a for sale sign outside, do it,” he said in an interview with the Bolton News. “Every club is for sale. If someone knocks on the door and says they want to buy the club, we’d listen.

“It’s not for want of putting that message out that we haven’t changed ownership. But you have guard against who you sell it to.

“Hopefully, Eddie is not going to sell it to just anybody. It’s the same with me; anyone who walks through the door will get an audience, but having done that it’s about due diligence that they do on the football club and that is done on them.

“Eddie would want to sell it to someone who is responsible, who has belief in it. He would want to know it’s not a property strip.”

The former Celtic manager Lennon, who was only hired by Davies and Gartside 22 days ago, said: “The only way Phil would do it is if it was going to be beneficial for the club going forward. I’m sure if that decision is made then it is for the good of the club, rather than any personal gain or financial gain for anybody else.

“For me, I’ll sit down with Phil and discuss what the situation is. Is it a concern? Not really. But it is strange that this has happened so soon in my tenure. But if it’s the best thing for the club going forward, then so be it.”