LITTLE is known about the former Farnworth Grammar School student who has assumed total control of Bolton Wanderers by virtue of his 94.5 per cent holding in the club's parent company.

From the Bolton Evening News, first published Tuesday 30th Dec 2003.

He did not turn up to have his say -- a prior business engagement was given as his reason for not attending the annual meeting of Burnden Leisure -- but for the best part of four hours on Monday (December 29, 2003), the silver-haired 57-year-old was the centre of attention, practically the sole topic of conversation.

Few would ever question the support Eddie Davies has given and continues to give to Bolton Wanderers. Whether in hard cash or guarantees via the Bermuda Trust Company, the man who runs the award-winning Strix company, has invested £14 million into the club he supported as a boy growing up in Little Lever.

With the board of directors holding the majority of issued shares and proxy votes from other investors, all five major resolutions won overwhelming approval but many shareholders who attended yesterday's marathon meeting in the Reebok's Lion of Vienna Suite felt distinctly uncomfortable at the prospect of just one man, a tax exile, wielding such unprecedented power.

In the absence of Mr Davies, Burnden chairman Phil Gartside came under intense questioning from fans -- for that is what the vast majority of football club shareholders are -- who saw their shares kick off at 69 pence when Wanderers floated the Stock Market in April 1997 and have seen them diluted in value to a nominal 0.1p, effectively worthless.

He repeatedly made the point that there was no alternative than to approve the share issue which allowed Mr Davies to more than treble his previous 30 per cent stake, explaining that the club's bankers would be more supportive as a result. But he was taken aback when told of rumours that Wanderers planned to sell the Reebok site for retail development and move back to a purpose built stadium at Burnden -- making Eddie Davies a cool £100 million in the process!

The chairman, who only minutes earlier revealed that the final £2.75m payment had been received following the sale of the old site, rubbished the rumour and also quashed speculation he had heard himself that Wanderers were about to sell the Euxton training headquarters for £8.5m.

It was suggested Wanderers might follow the lead of Chesterfield, York, Exeter and Lincoln and set up a Football Supporters Trust but Mr Gartside said the board had looked into such a move 18 months ago and dissmissed it.

But the majority of complaints centred on the surrender of control to Eddie Davies.

Shareholders Maurice and Sally McLoughlin said they were "very disappointed" that Mr Davies had not attended the meeting while Mark Cunningham complained: "It doesn't seem to make sense to hand the club over to him. We are going places and we should be able to pull more interest in the Stock Market by floating freely."

Former Wanderers' director Brian Scowcroft captured the mood of the protesters when he demanded assurances from Eddie Davies that the club's future would be secure.

"We don't know what we are voting for," Mr Scowcroft said. "Football is a very emotive issue and a football club should belong to a town.

"All BWFC shareholders are being asked to back a resolution proposed by the board of Burnden Leisure that hands complete control to a Bermudan Trust owned by an ex-Boltonian living in the Isle of Man and which renders their shares completely worthless.

"The resolution is a bit like asking turkeys to support Christmas."

Frank Hinks of Walkden, who called in vain for an adjournment, said: "I don't like being bullied. We want a fair deal and this is not a fair deal. My 1.135million shares are not worth peanuts.

"Let's be fair to Boltonians. I think the big question is what will happen to this site in the future."

Local businessman Jim Sherrington said he had nailed his shares to the wall. "They are worth buttons now," he complained. "I wonder will the next AGM be in Bermuda or the Isle of Man?"