Chairman Ken Anderson to sell all his shares in Bolton Wanderers

Anderson, whose Inner Circle Investments company is believed to hold around 95 per cent of shares, released a statement on Bolton's official website.

It read: "The chairman is pleased to announce that an agreement in principle has been reached that will result in Inner Circle Investments selling its total shareholding in Burnden Leisure.

"A period of due diligence has now begun, once this process has been completed and the requirements of the EFL have been satisfied a further announcement will be made to supporters."

Bolton fans have openly voiced their disapproval of Anderson, who has been actively looking to sell the Sky Bet Championship club.

As recently as February 20, Anderson said he was in ongoing discussions with "several" consortia but warned some rumours of potential investors were "pure fiction".

However, it looks as though a deal has been struck with an unnamed consortium which will see the businessman leave the club.

Bolton have been beset by financial difficulties this season. Players went on strike in the summer and pre-season friendlies were cancelled after wages had not been paid.

They avoided administration in September after former owner Eddie Davies gave the club a loan just days before he died, while there was a huge row with Forest Green counterpart Dale Vince over the collapsed transfer of striker Christian Doidge last month.

Bolton are also due in court next month to face a winding-up petition issued by HM Revenue and Customs, with the hearing scheduled to be held in the High Court on the morning of March 20.