Ken Bates Rejected Bolton Takeover Approach...

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Former Chelsea and Leeds United owner Ken Bates has revealed he turned down the opportunity to be involved in a takeover bid at Bolton Wanderers.

Bates, who left Leeds in 2013, was speaking to BBC Radio Yorkshire about the current situation at Elland Road and was asked for his opinion on the current financial situation at Wanderers, who play host to United in the FA Cup on Saturday.

In response, Bates admitted he was approached by a third party since Trevor Birch's arrival at Macron Stadium, but he rejected the invitation to analyse the club's books and claims they will be lucky to escape administration.

"When the Premier League was born, we instituted the parachute payments system, with the idea of being a cushion for relegated clubs to get their acts together with lower gates and high wages," Bates said.

"But every club should put in their contracts relegation clauses, whereby if the club gets relegated then the player's wages are automatically reduced.

"Bolton didn't

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Whoever is trying to sell the club is telling anyone who might be interested not to bother,the future doesn't look good for us does it,Bates also said in the interview with Radio Yorkshire small provincial town clubs like Bolton,Blackburn,Preston,Wigan have had there day it's only Burnley that have a chance of getting back up to the Premiership!