Bolton Wanderers have released a statement denying that they are on the verge of going into administration.

The Championship club are reportedly in debt to the tune of £173m with the majority of the money being owed to owner Eddie Davies.

"Whilst the club acknowledges it is going through a challenging time, there have been no threats to any staff jobs in the immediate future," a Bolton Wanderers statement said.

"After consistent backing from owner Eddie Davies, the club continues to seek fresh investment in what is a difficult and challenging economic climate."

Bolton remain in the Championship relegation zone after a goalless draw against Bristol City on Saturday.