Isle of Man-based businessman Eddie Davies has taken control of Bolton by injecting a further £2.25million into his hometown club.
That has boosted his shareholding in the parent company, Burnden Leisure plc, from 29.7 per cent to 94.5 per cent. Shareholders agreed to the proposal at the annual meeting of the company today.
Bolton chairman Phil Gartside claims the club owes a debt of gratitude to Davies.
Gartside said: "Without Ed's support we would be watching a very different standard of football. "He has increased his shareholding, so he has got control. That's all it is.
"We still have 6,000 shareholders. He is the majority shareholder."
Gartside is now looking to talk the bank about restructuring the finances of the parent company. Davies had previously made £14million available to the club since being appointed a non-executive director four years ago.
The further increase in funds is a huge boost for Bolton ahead of the re-opening of the transfer window. There were fears if the proposal had been voted down Bolton could be forced to sell players, including Jay-Jay Okocha, next month.
Burnden Leisure's debt at the end of the last financial year stood at around £38million. The injection of cash will help pay off a loan of £1.7million, which is due to the Co-operative Bank next month.