Last updated on .From the section Bolton

Bolton Wanderers began the season with a 12-point deduction after going into administration in May

Bolton Wanderers' survival has been secured after Football Ventures (Whites) Limited completed its protracted takeover of the club.

Administrators had warned the club could be placed into liquidation on Wednesday without a finalised takeover.

It looked to have collapsed on Monday, leading to bleak warnings about the future of the 145-year-old club.

"I'm delighted we've finally reached a satisfactory conclusion with the sale," said joint administrator Paul Appleton.

"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 has finally been rewarded."

On Tuesday, the English Football League gave Bolton 14 days to complete a deal or face expulsion from the competition.

That came as Bury became the first club to be expelled from the league for 27 years after a takeover bid fell through just before the EFL's deadline.

"At times it has been difficult to keep our counsel but we took a decision to remain on the sidelines even when further damage was being inflicted by delays outside of our control," said a statement on behalf of Football Ventures.

"Now we are excited to begin restoring this magnificent football club to its rightful position, securing its future for the fans, the loyal club staff, and the players."

As a result of the takeover, Bolton are now out of administration, with their place in the EFL no longer under threat.

"These past few months have undoubtedly been challenging and, at times, fraught - never more so in the past few days - and I would like to thank all parties for their efforts in achieving the desired outcome," said EFL executive chair Debbie Jevans.

'Anderson hampered and frustrated deal'

Appleton praised one of the main creditors, the Eddie Davies Trust, for being "willing to find a compromise to save the club" during the talks - but he was critical of the club's former owner Ken Anderson, who he said was responsible for the deal initially collapsing on Monday.

He added the Trust was determined "not to allow 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," he added.

"Thankfully, with the assistance of the Trust and others, we were able to overcome this obstacle."

Bolton, who started the season with a 12-point deduction, called off last week's game against Doncaster Rovers amid welfare concerns for younger players, while Phil Parkinson also resigned as manager.

"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," added Appleton.

"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."

BBC Radio Manchester has attempted to contact Anderson for comment.

Fans waited anxiously outside Bolton's stadium on Tuesday before the EFL's 17:00 BST deadline

Two months of takeover uncertainty

Football Ventures (Whites) Limited, led by Sharon Brittan, were named as preferred bidders on 1 July by administrators David Rubin & Partners.

The takeover has since faced numerous hurdles, with the deal appearing to have collapsed completely on Saturday despite being close to completion the previous day.

In a statement issued on Monday, the administrators said if they were unable to resurrect the move, the club was "not in a position to carry on trading" and would enter liquidation, leading to the "inevitable loss of over 150 jobs".

Wanderers were beaten 5-0 at home by Ipswich Town on Saturday in front of just 5,454 fans - the lowest attendance for a league game at the University of Bolton Stadium in its 22-year history.

With the majority of the club's senior players having left, they have fielded sides made up almost entirely of youth-team players in their five matches so far this campaign - including their youngest-ever side against Coventry City on 10 August.

"It's just fantastic. I was down at the stadium when the statement came through. It's what everybody has been waiting for," said Maggie Tetlow, co-founder of the Bolton Wanderers Supporters' Trust.

She told BBC Radio 5 Live the new owners have "a good track record in business".

To the brink and back - a timeline