Admins: Wigan Athletic needs 'stability both on and off the pitch'
The administrators who have been running Wigan Athletic for almost nine months have welcomed the sale to the Bahrainis - and confirmed there will be no danger of a 15-point penalty.
"We are pleased to announce that a significant step has been taken in relation to the rescue of the club," read a statement.
"We have agreed a sale of the club and related assets to Phoenix 2021 Limited and we are in the process of finalising the transaction.
"Contracts have been exchanged, a deposit has been received and it is envisaged that the sale will be completed by 31 March 2021 at the latest.
"The outstanding matters that need to be finalised to allow completion are practical matters around EFL membership and property transfers.
"The sale allows for Non-Football Creditors to be paid a minimum dividend of 25p in the £ which avoids a 15-point penalty deduction for the club which improves the prospect of remaining in League One this season.
"We are working with the Purchaser and their management team to ensure that the sale of the club concludes as soon as possible to allow some much needed stability both on and off the pitch.
"We have also been working closely with the EFL in relation to the sale and liaising regularly with the Official Supporters Club.
"A further announcement will be made on completion of the sale."
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