Bolton contact Football League to complain about Sheffield Wednesday conduct
Financially struggling Bolton cut Davies’ price to resolve an issue over wages and thought a deal had been done.
With the player set for a medical today, he was pulled out of Tuesday’s league meeting between the two clubs, which Wednesday won 3-2.
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Bolton have now complained to the Football League, although the two clubs are believed to be back in negotiations and the midfielder’s transfer could yet go through.
Bolton are trying desperately to raise funds before Monday’s High Court appearance, when they face a winding-up petition brought by Revenue & Customs.
There had been hope before Christmas that a takeover of the club, £172.8m in debt, would have been completed by now.
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Bolton are bottom of the Championship and if they went into administration, which is still a possibility, the 12-point penalty would leave them 18 points from safety.