BOLTON Wanderers have officially emerged from an EFL transfer embargo after 630 days.

The sanctions, which had been in place since Christmas Eve, 2015, prevented the club from paying fees for loans or permanent deals, restricted the squad to 24 professional players and also limited wages which could be offered to free agents to £4,500.

The embargo was enforced at the height of Wanderers’ financial crisis when they were unable to submit a return for Financial Fair Play. It has since emerged the special measures implemented by the EFL also covered other aspects of the club’s financial management, including a suitable business plan, submitted accounts and proof of funds.

It is understood that while the Whites have technically come out of embargo, the EFL will be insisting various financial criteria are met to allow the club to operate freely.

Revealing the news this afternoon, Wanderers chairman Ken Anderson said: “We are really pleased that the EFL has given us the go-ahead to come out of the transfer embargo.

“I would like to thank all the Bolton Wanderers supporters for their patience they have shown during this time. The situation has taken far longer to rectify than I had imagined, largely due to the much-publicised ownership situation which has thankfully now been resolved.

“This is another positive step in the right direction and I trust that everyone will all continue to get behind Phil Parkinson, his staff and his players for the remainder of the campaign.

“No further comments will be made at this time.”

Although the transfer window is now closed, the short-term benefits to the Whites are that they will be free to promote young professionals such as Jake Turner, Alex Perry and Jeff King to the first team.

They are also able to buy free agents – and have been strongly linked with ex-Arsenal striker Julio Baptista and former player Joey O’Brien.