Bolton Wanderers emerge from EFL transfer embargo after 630 days

Bolton Wanderers chairman Ken Anderson has confirmed that the club are no longer under a transfer ban.

The Trotters were initially punished by the EFL in December 2015 after they failed to submit the necessary documents. The embargo prevented the Trotters from paying fees for players joining on loan or on full-time basis while their squad had to be restricted to just 24 professional players. Meanwhile, they could not pursue any top quality free-agents as they had restricted to spend no more than £4,500-a-week wages.

The sanction was enforced amidst the Trotters' financial crisis which saw them fail to submit a return as per the Financial Fair Play requirements. The club have since sustained on players from the youth system who have enabled them to return to the Championship after a year's absence. While the Trotters have overcome their ban, the EFL will require the club to satisfy various financial criteria before allowing them to operate freely.

Anderson and ex-Bolton striker Dean Holdsworth took over from former owner Eddie Davies shortly after their transfer ban was imposed, but the former has since taken 95 percent shareholding at the club after Holdsworth's Sports Shield company was liquidated in August this year.

Speaking about the club's relief from the embargo, Anderson said: “I would like to thank all the Bolton Wanderers supporters for their patience they have shown during this time. The situation has taken far longer to rectify than I had imagined, largely due to the much-publicised ownership situation which has thankfully now been resolved.

This is another positive step in the right direction and I trust that everyone will all continue to get behind Phil Parkinson, his staff and his players for the remainder of the campaign. No further comments will be made at this time.”

Bolton Wanderers have had a tough return to the Championship having failed to win any of their seven league games, and this sees them at the bottom of the pile. With the transfer window now closed, the Trotters will now be on the search for a couple of high-profile free-agents with ex-Arsenal striker Julio Baptista among the top names on their list.