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Sad to see. Thing is, their debt will be wiped out if a buyer can be found, and the winding up order is only for £600k. They played some great football under Allardyce, despite what you'd be led to believe by the newspapers.

While Lennon is a cunt, it's not Bolton fans' fault he's their manager.

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Sad to see. Thing is, their debt will be wiped out if a buyer can be found, and the winding up order is only for £600k. They played some great football under Allardyce, despite what you'd be led to believe by the newspapers.

While Lennon is a cunt, it's not Bolton fans' fault he's their manager.

that's when their decline really started getting rid of big Sam. Now that they are managed by that cunt I couldn't give a fuck about them

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Brutal as we all know too well what it's like to go through it. However, I'd be hard pushed to feel for the club considering who their manager is. What's the odds on him complaining about the inevitable points deficit down to admin deductions at the end of the season? The wee hypocritical fuck.

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They are £180m in debt

What new owner is going to take a hit like that

The £180m is owed to the current owner who has agreed to write it off.

How they managed to spunk £180m to end up staring at League One football next season is anyone's guess.

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The £180m is owed to the current owner who has agreed to write it off.

How they managed to spunk £180m to end up staring at League One football next season is anyone's guess.

Wow, He must have some personal wealth to write off £180m

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The £180m is owed to the current owner who has agreed to write it off.

How they managed to spunk £180m to end up staring at League One football next season is anyone's guess.

Small clubs that struggle in the EPL for years trying to keep up.. It's not really that hard to see how they get into debt like that once they are relegated. I'd imagine that there are a few clubs in the EPL who would be fucked if they were relegated and didn't get back up right away.

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Oh the fucking irony.

Administration looming for former Celtic manager Neil Lennon as Bolton slapped with winding-up order from HMRC

17:13, 10 DEC 2015 UPDATED 17:36, 10 DEC 2015 BY RECORD SPORT ONLINE

THE TROTTERS' financial woes have been known for some time but Her Majesty's Revenue and Customs have accelerated their turmoil by demanding payment now.

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Neil Lennon

BOLTON WANDERERS have been served with a winding-up order from the taxman over an unpaid bill due last month.

Managed by former Celtic boss Neil Lennon, Wanderers' alarming financial crisis has deteriorated rapidly over the past few weeks after it was revealed they had failed to pay their players for November, and now HMRC has rejected requests from them to be given more time to conclude a sale.

Bolton had hoped they could conclude a takeover this week after drafting in financial advisor Trevor Birch to help long-time owner Eddie Davies, who is willing to wipe out £185million of loans owed to him and sell the club.

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However, with discussions still ongoing, HMRC has now acted to call in unpaid PAYE and VAT for the month of November.

Ryan Browne/PA Wire

Things haven't been easy for Neil Lennon at Bolton

It raises the possibility of administration for Lennon's bottom-of-the-table side, who would have their entire total wiped out if they were to incur the 12-point deduction.

A statement on the club's official website read: "Bolton Wanderers can confirm that the club has now received a winding-up petition from HMRC in respect of unpaid PAYE and VAT for the month of November.

"Despite requests from the club to HMRC to give it further time to either conclude a sale or raise additional funds, HMRC has proceeded with due process and duly served a petition."

Birch added: "Quite clearly the club remains in a critical financial position.

"We will continue to try and finalise a sale or alternatively raise some short-term funds needed to give the club a breathing space and time in which to consider its options."

Wanderers have been in discussions with a handful of interested parties since Birch was brought on board last month, including a consortium headed by former striker Dean Holdsworth, which has financial support from local boxer Amir Khan.

But the club remains in limbo until a suitable buyer can be found because Davies has turned the tap off on his own financial support.

Action Images via Reuters / Graham Stuart

Former Celtic manager and Bolton Wanderers boss Neil Lennon at Celtic Park

Bolton remain hopeful administration can still be avoided because it will almost certainly consign them to the third tier next year, but they may have to offload promising youngster Zach Clough and midfielder Mark Davies, which would leave Lennon with a threadbare squad anyway.

Wanderers do own the Macron Stadium, the Whites Hotel that is a part of that ground and their academy and training ground and Birch, who has worked in bleak situations at the likes of Leeds and Portsmouth previously, may have to get creative to raise funds over the coming weeks.

Speaking about the possibility of going into administration at his Thursday morning press conference, Lennon said: "Trevor has a few plans in place to avoid that scenario.

"That may mean doing things around the stadium in terms of selling bits off, I don't know. He's confident that he can avoid that.

"That would mean we would be a League One team and we're just fulfilling fixtures for the rest of the season. What we need is someone to come up with the money, help the club out and just get us through a difficult period to January.

"What we may have to do in January is sell some assets in terms of the football side of things as well. But if that means getting the club through stormy waters that's what we'll have to do."

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the issue is if clubs chase getting back up immediately. With the parachute payment, if clubs want to they could get rid of all their big stars sharpish and not be spunking money. If they hold onto those stars and chase the dream, they are in a one way ticket to oblivion.

In the real world it makes sense to get rid of the players who got you relegated

But for some reason owners get blinded by that thing called money

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