Wigan Athletic agree takeover deal
The club has been bought by Phoenix 2021 Limited
Last updated 16th Mar 2021
It’s been confirmed Wigan Athletic have agreed a takeover deal with Phoenix 2021 Limited.
The club’s been in administration since July last year which led to their relegation from the Championship.
Providing the takeover gets signed off by the EFL, it will mean Latics avoid the 15 point penalty deduction giving them the prospect of staying in League One this season.
It's hoped the deal can be approved by the end of the month.
Here's the club's full statement:
"We are pleased to announce that a significant step has been taken in relation to the rescue of the club.
"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."
Mr Talal Al-Hammad is the incoming Chairman of Wigan Athletic. He said they want to help restore people's pride in the club:
“To Latics fans everywhere, we can only guess at the amount of hurt and distress you have felt since the Club entered administration and it is now our focus to stabilise its future and to illustrate why we believe we are the best ownership group for the Club."