Wigan Athletic takeover in sight...at long last!

Wigan Athletic are as close as they've been to a successful takeover with the Bahrain-based consortium having agreed a reduced price to complete the deal.

Saturday, 6th March 2021, 1:38 pm
The DW Stadium

Administrator Paul Stanley admitted earlier in the week the trail 'had gone cold' regarding the long-time frontrunners.

But after a positive couple of days' negotiations, it's understood a deal could be imminent.

The admins have agreed to lower the £3million price to secure the sale, in view of Latics being bottom of the League One table with less than a third of the campaign to go.

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Clearly the new owners may have to take one step back before attempting to move forwards, with the overall project possibly taking a bit longer and proving slightly more expensive.

But the deal would still involve them paying the non-football creditors 25p in the pound, which would eliminate the possibility of a further 15-point deduction being applied next term.

The timescale towards completion could now be relatively short, with the proposed directors all having passed the EFL's tests, and the proof of funds having already been established.

Step one would be to sign the sales and purchase agreement, which both sides are on with.

Step two would be the handing over of a deposit, which has remained with the lawyers throughout, and again wouldn't be a problem.

Wigan Council have already agreed transfer of the lease on the DW Stadium, as is the case with the training ground at Christopher Park.

Then all that's left would be to sign the membership agreement, which would see the football share transferred, along with the agreement to pay 25p in pound to creditors...and a new start for a football club that's been dragged to hell and back - several times over - since July 1 last year.

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