KEN Anderson says the standard of this season’s Championship caught him on the hop - but not for much longer.

The Wanderers chairman remains upbeat his club can defy the odds and beat relegation – a viewpoint shared by the bookmakers, who now rank Bolton fourth favourites behind Burton Albion, Birmingham City and Sunderland.

Anderson admits he has been learning on the job along with Phil Parkinson and his squad since promotion, believing the quality of opposition has improved considerably compared to the Whites’ last stay in 2015/16.

But with 19 games to go, the first of which will be at home to Ipswich Town on Saturday, he says the players are now looking competitive at this level once again.

“If I’m honest I think I underestimated how much the Championship had improved in the season Bolton had been away,” he told The Bolton News. “There were always two or three clubs who had quality, whether it was the ones who had come down from the Premier League or those who had spent a bit more money, but this season it’s virtually every opponent you come up against. There is a much more even spread across the teams.

“With the exception of Wolves every single club has had a dip of six-or-so games. Derby, Leeds, Aston Villa, Sheffield Wednesday and Middlesbrough have all been through it and probably will again.

“It was a surprise to the rest of the division that we beat Cardiff City, who have been at the top of the division, even though our form had been quite similar in the build-up.

“But I think we have adapted and we know what we are up against now. Of course, I would prefer to be further up the table but considering how poorly we started, I think we have started to turn it around.

“In October and November no-one was giving us a shout. Now we have brought half a dozen, maybe up to eight clubs back into the mix.”

Knowing every club is seeking to emerge from the January window stronger for the final push, Anderson is looking to help Parkinson bring in new signings .

It is understood further business does not hinge on fringe players moving on but rebuffed bids for Gary Madine in the last two weeks show Wanderers do mean business in this window.

Off the field, Anderson says progress is also being made, with an agreement reached between the club and HMRC to tackle a historical debt, which it is claimed will be cleared in full next week.

And the chairman feels confident heading further into the New Year the club can handle its financial obligations.

A loan from BluMarble is not due to be repaid until September and Anderson says he has also spoken with new funders who are offering better terms.

The potential of outside investment or a sale has seemingly been placed on the backburner, despite continual interest from outside the country.

“I seem to get a different request every week ,” Anderson said. “It does not make sense to do anything until the end of the season because, being honest, we don’t know what division we will be playing in.

“Until people know where we are it is a little difficult to say ‘we’ll give you X or Y’ and l understand that has been the stumbling block at Newcastle United”

Anderson wants to continue his own restructuring job, which has thus far seen significant improvements on the commercial front and a much more streamlined set of finances than the ones he inherited.

“The big challenge between now and the end of the season is to continue to reduce the operating losses,” he said.

“Ideally, I would like to be starting next season close to breaking even for the first time in a very long time. Whether that happens, I don’t know, it may be a little ambitious.

“We have players who combined are costing us around £4m who will either not be here by the start of next season or on a reduced salary.

“It is a little like the situation with Jay Spearing last summer.”