EDDIE Davies says he’s had “50 offers” for Wanderers in the last four years but believes he has found the right group in Sports Shield.

The Farnworth-born lifelong fan agreed to sell the club after 13 years as majority stakeholder but cut the deal fine as paperwork was signed just 30 minutes before a High Court hearing in London this morning.

Wanderers have avoided administration, and possibly liquidation as a result of the deal and will head back to the court on March 7 with the takeover completed, pending Football League approval.

Sports Shield have been chasing an agreement since November and Davies is content that they have both the funding and business acumen to run the club soundly.

"We've had about 50 offers in the last four years,” he said. “First of all they (SS) have got the money and they've proved they've got the money and secondly they've got a fairly experienced team.

“Dean, obviously, is a football man, but there are other people in that consortium with direct football experience and I'm sure they'll be able to take that club forward.”

Davies will step into a president’s role but will have no overall control of the club from here on in.

He will, however, leave £15million of loans in the club but says he is not guaranteed to receive that money back.

"I'm getting a pound up front. Anything else is earned out by what position, in which league, the club finishes every season. It's highly probabilistic, that, so there's no guarantee on it at all,” he said.

Davies believes the takeover could have a positive psychological effect on the team’s survival effort and hopes that Neil Lennon is given a chance to lead the team by the new regime.

"He's a good guy, Neil. I like him,” he said on Sky Sports News. “I can't say (he stays) because it's out of my hands but I would vote for Neil to stay, yeah.”