Administrator provides update on sale of Wigan Athletic

The uncertainty over Wigan Athletic’s future ownership has dragged into another week.

Wednesday, 12th August 2020, 7:51 am
Updated Wednesday, 12th August 2020, 8:06 am
Wigan Athletic went into administration at the start of last month

Co-administrator Paul Stanley says they are still talking with several potential bidders interested in buying the club.

But nobody has paid the £100,000 bond which they are demanding to begin the exclusivity process.

While frustrated by the lack of development, Stanley understands why the interested parties are doing their due diligence – and why it is taking time.

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With a stadium, two training grounds, statements and various contracts to scrutinise, the possible buyers want to know just what they are getting into before handing over £100,000 to the administrators’ lawyers. That non-refundable bond is to cover their legal costs should the bidder withdraw.

“There’s not a lot of movement at the moment, there are still people there but they’re asking questions and finding out what they need to find out,” Stanley said.

“We’re still engaging with interested parties, and there are people locally and overseas.

“It’s a lot of work as nobody is sending the money and we’re having to deal with everyone’s questions.

“I know everyone wants us to say, ‘It has happened’, and one day there will be that news – but we’re not there yet.”

The administrators, brought in on July 1, had previously identified a preferred bidder but talks collapsed when they wouldn’t pay the bond.

A bid spearheaded by Warriors owner Ian Lenagan is the only party to publicly confirm interest in buying Latics.

On the positive front, Stanley eased some fans’ concerns there may be a rush to secure a new owner, saying Latics could start their new campaign in League One next month in administration if necessary.

Players will return to training today to begin preparing for the new campaign, with Leam Richardson - who was Paul Cook's assistant - taking charge.