BOLTON Wanderers have forced extra time in their appeal against a winding up order over a £2.2million tax bill.

The club, which is bottom of the Championship and owes the cash to HM Revenue and Customs, was given until February 22 to find a rescue scheme by the High Court.

The court was told of moves afoot to conclude a deal, but HMRC's legal team still pressed at Monday's hearing for the immediate compulsory winding-up of the club.

Registrar Michael Briggs was told by the tax authority that the 'proposed route' for rescuing the club was 'speculative to say the least', and Bolton Wanderers FC Ltd appeared 'to be very clearly insolvent'.

But Hilary Stonefrost, representing the club, said commercially sensitive negotiations were taking place with prospective purchasers and other moves were being made to raise funds.

Putting the club through the insolvency process now would lead to 'financial disaster', added Ms Stonefrost.

They were granted a 35-day stay of execution based on the impending sale of car parking land adjoining the Macron Stadium.

Middlebrook owners The Emerson Group, owned by Bolton-based property magnate Peter Jones, has been strongly linked with the deal, which is believed to be worth around £3million.

The sale of further assets is also a strong possibility, including the training ground at Euxton.

Neighbouring football clubs Preston North End and Wigan Athletic have expressed an interest in the former ROF Chorley Sports Ground, which could also raise around £2.5 million.

Should a deal go through as expected, Wanderers would move their entire first team operation to their current academy base at Lostock at the end of this season.

The sale of first team players such as Zach Clough, Josh Vela and Mark Davies also remains a strong possibility with less than a fortnight remaining in the transfer window.

HMRC have taken a particularly aggressive approach to football clubs in recent years and even after the notion of liquidation was rejected by the court, they requested that Wanderers were given just 14 days to get their affairs in order.

Trevor Birch, advisor to the owner and board at Bolton Wanderers, added in a statement after the judgement: “HMRC takes a very strict approach towards football clubs. 

“Despite the club putting forward a solution, utilising funds generated from its assets that would have enabled repayment of its debt in full over a period of a few months, HMRC refused to agree to an adjournment to give effect to the plan.

“With that in mind, it is pleasing that the High Court rejected its wish to liquidate the club and that it has given the club time either to raise funds and or conclude a sale.”

Negotiations to buy the club continue, with Wanderers currently in discussion with three serious bidders.