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Bolton have confirmed a takeover of the club by Football Ventures has been completed.

The takeover effectively secures the future of the Trotters after the EFL granted them a 14-day reprieve following Tuesday's 5pm deadline.

Bolton have been in administration since the end of last season and started the League One campaign on -12 points following their relegation from the Championship.

Their financial position has meant they have very few senior players and have had to fulfil fixtures so far this season with a young side, picking up just a solitary point from their four completed fixtures.

But the future now looks brighter for the former Premier League outfit, and joint administrator Paul Appleton confirmed the news on Bolton's website - taking a huge swipe at former owner Ken Anderson for 'hampering and frustrating any deal that did not benefit him or suit his purposes'.

He said: "This has been one of the most complicated administrations I've been involved with but I'm delighted to say we have finally reached a satisfactory conclusion with the sale to Football Ventures.

(Image: Julian Hamilton/Daily Mirror)

"At times, some of the hurdles appeared insurmountable and the frustration felt has been immense, not least by the supporters who have had to endure too many weeks of uncertainty.

"I would like to pay particular tribute to the Eddie Davies Trust and their legal team who, throughout this whole process, have been willing to do everything in their power to ensure Eddie's incredible legacy was maintained and not sullied.

"Even at the 11th hour when other parties were content to renege on their agreements, the Trust realised the very existence of Bolton Wanderers was at stake and were willing to find a compromise to save the club. It is a testament to their unflinching determination to do what was best for Bolton that we are able to complete the deal today.

"The Trust were forced to constantly compromise their position in the face of circumstances and demands which were wholly unreasonable. This says much about their determination not to allow Eddie's beloved Bolton Wanderers to suffer any longer at the hands of Ken Anderson.

"Sadly, Mr Anderson has used his position as a secured creditor to hamper and frustrate any deal that did not benefit him or suit his purposes. Thankfully, with the assistance of the Trust and others, we were able to overcome this obstacle.

(Image: PA)

"I would especially like to thank both my team and my lawyers who worked around the clock to find solutions to problems which certainly threatened to derail the whole process.

"I have every sympathy for the staff, players and fans who have been forced to stand by while their club was taken to the brink. I am delighted their loyalty, dedication and patience have finally been rewarded.

"Of course, there will be difficult times ahead while the club gets back on its feet but there are too many people with Bolton close to their hearts for it not to be successful once more.

"The EFL and PFA have both played a major part in the club's survival. They have understood the complexities of the process and have stood strong in the fight to save Bolton, helping to drive this deal over the line.

"Now there can be a fresh start with owners who, I believe, will run the club for the good of the supporters and the community as a whole.

"For everything the fans have had to endure, they deserve nothing less."