English third-tier club Bolton Wanderers, winners of the first-ever FA Cup final held in Wembley and who were under threat of expulsion from the Football League, has been sold, the club’s administrators said in a statement on Wednesday. 

"We are pleased to announce the sale of Bolton Wanderers to Football Ventures (Whites) Limited has been completed," joint administrator Paul Appleton said in a statement on the club’s official website, a day after Bolton was given two weeks to find a new owner or be thrown out of the league. 

The announcement came a day after Bury, another third tier North West club was expelled from the Football League after more than 100 years late on Tuesday after a takeover bid collapsed, the first club to be expelled since Maidstone United in 1992.  

“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,” Appleton said. 

“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,” it added. 

Bolton, a four times FA Cup winner, was a Premier League club just seven years ago and played in the UEFA Cup as recently as 2008. 

Bolton started the season with a 12-point deduction and manager Phil Parkinson and his assistant Steve Parkin resigned last week. 

They have taken one point from their first four games and already look to be in danger of relegation. 

“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,” said Football Ventures (Whites) in a statement. 

Meanwhile, the English Football League welcomed the sale. 

(With input from AFP and Reuters)