As you know, I was hoping to focus purely on football matters during the summer but having seen the Bolton News article on Tuesday morning concerning the High Court hearing on Monday, l believe l should clarify the situation for the benefit of our supporters and trading partners.
Neither Bolton Wanderers Football Club, Inner Circle Investments or myself attended the court hearing as the winding-up hearing related to Sports Shield and not the Club.
The Club does not have a loan from BluMarble - Sportshield does and it is currently in default.
The shareholdings in Bolton Wanderers Football Club stand at 57.5% in favour of Inner Circle Investments and 37.5% in favour of Sports Shield .
Inner Circle Investments recently acquired circa 30% of Sports Shield with a view to assisting in resolving their current issues with BluMarble.
As it currently stands, Blu Marble do not own any shares in the club and it is Sport Shield I am negotiating with on the shares.
Inner Circle Investments have made an offer to BluMarble to repay the Sports Shield loan. This offer is currently being considered and is one of the reasons why the hearing was adjourned.
Meanwhile, The Bolton News comment that Sports Shield is talking to a number of potential investors is, in my opinion, good news and l look forward to receiving clarification on this in due course.
The sooner that this matter is resolved, the better for all concerned.
I would also like to welcome Jem Karacan back to the club after we announced that he has signed a new one-year contract with us earlier today.
The memories of his opening goal against Peterborough United on the final day of the season to send us on our way to winning promotion will live long in the mind and we are delighted to have Jem back on board.