Bolton Wanderers chairman Ken Anderson has urged everyone connected to the club to "stick together" following relegation to League One from the Championship at the weekend.
On Saturday, the Trotters' 4-1 defeat to Derby County was the final nail in the coffin in their dismal league campaign.
Bolton have managed to acquire just 26 points from 41 games, and during that time the club were hit with a transfer embargo and sacked boss Neil Lennon.
Anderson has reached out to supporters to urge them to keep faith with the club and state that the search for a new manager has intensified.
A statement from the chairman, which was published on the club's official website, read: "It's now time to look forward, not back. Whilst this continues to be an extremely challenging and difficult time for us all, it is imperative that we stick together and believe that we will come out the other side a better and stronger football club.
"Bolton Wanderers have a fantastic history and a loyal fanbase. We very much have to look to put any past differences behind us, embrace everything that we have going for us and move forward together. I understand that words can only mean so much at this moment in time and that we, the new board, will ultimately be judged on our actions. We're not shying away from that fact and we accept that there are going to be a lot of difficult decisions to make, both on and off the pitch, as we prepare for life in the third tier.
"One of the most important decisions surrounds that of the club's manager. That is something that is certainly high on our agenda and I personally have already had a high level of applicants for the job. We have had over 50 applications, which shows just in how much high regard our club is held. That list has been whittled down to single figures and our process of interviewing the candidates is already well underway.
"We want to hit the ground running next season, which is why we are getting these building blocks in place. We want to roll our sleeves up and be positive right from the off, play an attractive style of football and really take the game to our opponents. We're working tirelessly to try and get the transfer embargo lifted - that is obviously paramount in our planning. We also have a number of key relationships and agreements in place with teams in the top flight with an eye on what we can possibly do in the loan market.
"Whilst some of our work has to remain confidential, throughout this process we will do our utmost to be open and communicate our plans going forward. Our supporters and staff will always be the lifeblood of the club, regardless of what division we are playing in. This is a fresh start for us all. We've been working on this plan for some time - we're now in the process of putting it into action. There is a lot of hard work ahead and we have to be on this journey together."
Bolton have won just four league games this season.
