WANDERERS have secured some short-term funding by completing a joint venture deal to develop car parking land at the Macron Stadium.

In what proved a surprising twist at the weekend, the club announced an agreement with Prescot Business Park Ltd, as opposed to Middlebrook Business Park Ltd, who had been expected to complete the purchase until very recently.

The Bolton News has discovered that some of the land was sold to PBP last June with an option to buy back.

That was accomplished on Friday after Wanderers once again went to court for a validation order to allow the transaction to take place.

An advance of around £6million has now been secured against development on the land – which is expected to come to light in the next few months. A statement from the club released on Saturday read: “Bolton Wanderers Football Club can confirm that it has completed a second commercial transaction with PBP Ltd.

“The further agreement provides much-needed short term funding, extends and progresses the long leasehold interests and joint venture development concept over the Macron Stadium North Car Parks that the parties had first entered into last year.

“PBP and the club now intend to bring forward detailed development proposals later in the Spring, although the whole project is expected to take a number of years.

“The club had previously been in advanced discussions with Middlebrook Business Park Limited, but ultimately a deal could not be concluded.”

PBP is registered at Chorley New Road and is owned by local businessmen Michael James and Tom Morris.