Businessman takes control of Bolton

Isle of Man-based businessman Eddie Davies has taken control of Bolton by injecting a further £2.25m (€3.1m) into his hometown club.

That has boosted his shareholding in the parent company, Burnden Leisure plc, from 29.7% to 94.5%.

Shareholders agreed to the proposal at the annual meeting of the company today.

Davies had previously made £14m (€19.8m) available to the club since being appointed a non-executive director four years ago.

The further increase in funds is a huge boost for Bolton ahead of the re-opening of the transfer window.

There were fears if the proposal had been voted down Bolton could be forced to sell players, including Jay-Jay Okocha, next month.

Burnden Leisure’s debt at the end of the last financial year stood at around £38m (€53m).

The injection of cash will help pay off a loan which is due to the Co-operative Bank next month.