Bolton Wanderers chairman Phil Gartside has moved quickly to end takeover speculation.

The Mirror says he called old pal Freddy Shepherd, the former Newcastle United chairman, to confirm he is not planning a buy-out and has also confronted one local wheeler-dealer linked with a potential bid.

Eddie Davies, Bolton's owner who is based on the Isle of Man, is also happy to back his chairman and manager despite the first crisis in Gartside's reign.

Gartside has kept his head down despite all the criticism but sources close to him revealed: "Phil is very down about the league position, but nobody is throwing in the towel about the future.

"It's the first blip in years and there is money to be spent on players to make sure this squad is improved and not ripped apart. Bolton will be one of the first clubs relegated with money in the bank."