THE Football League has outlined how Wanderers will be operating on a “one in, one out” basis in the current transfer window.

Following a meeting with the Bolton Wanderers Supporters’ Trust, the EFL issued a document addressing some of the issues which had been discussed.

The club has been in a transfer embargo since the end of 2015 when it first received a winding-up petition from HMRC but has since been handed further restrictions, chiefly for failing to file accounts for 2015.

Until now, there has been no official clarification on how the parameters of the embargo applied to Phil Parkinson’s squad but it has now been a revealed a 23-man limit is in place.

“At the time of acquisition Bolton Wanderers were operating under player registration restrictions for a number of different reasons,” read the document, which was passed to trust members on Wednesday night.

“It is well documented that the arrangements put in place following the takeover included a further, stricter registration embargo. Currently, the club is limited to a squad of 23 players and is able to sign new players on a one out, one in basis only. The club is not permitted to pay transfer or loan fees for new players.

“Again, the aim of this approach is to enable the club to have the best chance of trading through its restructuring by remaining solvent.”

It is understood Wanderers’ squad currently stands at 22 – which includes Conor Wilkinson, who was recently sent back from loan at Chesterfield, and Darren Pratley, who will shortly undergo an ankle operation and stands to miss the rest of the season.

Unless any further space is created, or negotiated, Parkinson will be able to sign just one more player before the transfer deadline.

Concern has also been raised over Ken Anderson’s ongoing discussions with Dean Holdsworth to purchase his shareholding.

Back in November, Anderson claimed there was a “very real risk” an administrator may have to be appointed because talks had reached an impasse but has since played down the issue.

“The EFL is in regular dialogue with the club with regards its ownership, as well as its financial matters. Any suggestion of a club insolvency is always of significant concern but clearly discussions between the parties involved in the ownership of the club are ongoing and we are monitoring events.

“From our perspective, and as outlined already, our long-term approach has been to ensure the club lives within its means and any suggestion that the club is at a “very real risk of an administrator being appointed” only endorses rather than changes the approach we have taken to date.”

The EFL is also monitoring the overdue accounts for 2015 which, it has been confirmed by the club, are still on course to be filed this month via auditors Deloitte.

“It is a requirement under our rules for Championship clubs (and those in their first season in League One following relegation) to provide us with annual accounts by December 1 each year. Even more significantly, it is a requirement under Company Law to file them with Companies House.

“Theoretically, the club could be charged by the EFL over this matter but in reality, all the potential sanctions that we have (e.g. enhanced financial monitoring, transfer embargo etc) are already in place as part of the measures already taken following the transfer of ownership.

“However, we keep all matters under review as part of our ongoing monitoring.

“In the case of Bolton Wanderers, the EFL is monitoring the club on a regular basis and is engaged in a significantly higher level of oversight of the club’s finances than is normal.”