BOLTON Wanderers could face administration by early next week unless their ownership battle is resolved, The Bolton News understands.

Worst fears could soon be realised if one of a number of interested parties does not make a breakthrough in talks to buy the club from Eddie Davies in the next few days.

Insolvency specialist Trevor Birch was appointed last month to speed up discussions and keep the club afloat but he admitted on Monday that none of the prospective buyers had the “requisite elements” to conclude the deal.

Voluntary administration is a now a distinct possibility, which would carry with it a 12-point deduction in the league table.

Manager Neil Lennon and his players were told the full extent of the financial problems at a meeting on Tuesday morning after wages for football staff were not paid in November.

Players union the PFA were called in as mediators and they may have to step in to pay players’ wages if the club goes into administration.

PFA chief executive Gordon Taylor – himself a former player in the Burnden Park days – admitted that the worst case scenario is now being examined.

“We have investigated all the possible contingencies, administration being one, and though we are hopeful of a positive conclusion, a lot of things need to fall into place,” he said. “We are certainly not underestimating the seriousness of the situation.

“We don’t want administration because the penalties are very difficult to overcome and I think that is achievable. It involves a lot of parties coming together.

“Everyone is working together including Trevor and the local authority and I think while acknowledging the seriousness of the situation, this is very retrievable.”

Wanderers’ case hits close to home for Taylor, who played 250 times for Bolton, scoring 50 goals between 1962 and 1970.

“I have been in this position a number of times in my 35 years with the PFA and, touch wood, we’ve managed to help and save the vast majority of cases that have reached this stage,” he said.

“That is not to say you take anything for granted. This is an extremely serious situation and it needs to be properly managed.

“But the club is of course very close to my heart. It was one of the founder members of the Football League and has an incredible tradition and history that we must protect at all costs.”

Lennon reveals positive news on Wanderers takeover battle

Aside from the first team squad, Wanderers also employ 300 management and administration staff based at the stadium, club shop, Euxton and Lostock.

With Christmas looming there are genuine fears that salary issues or even job cuts could become an issue – and Taylor has urged the club to keep communicating.

“It really is the key for people at this stage,” he said. “It can be very worrying, particularly at this time of year.

“It is good that someone like Trevor Birch is here, who we have worked with at other clubs, and most recently Portsmouth. He knows the lie of the land and knows the value of everyone working together.”

The club issued a statement last month saying there was “no threat to staff jobs in the immediate future” after playing down a report in a national newspaper that claimed it was considering administration.

A council spokesman said: “This is an important issue for Bolton and its community and because of this we’ve been asked to be kept informed of developments in relation to the future of the club.”