Wigan Athletic sale expected to complete within two days
The sale of Championship side Wigan Athletic FC is reportedly set to be concluded within the next two days.
The International Entertainment Corporation, which is based in Hong Kong, announced in May it was planning to buy the club in a £22m deal.
The chairman David Sharpe – alongside Matthew Sharpe and Garry Cook – will all resign once the deal is completed.
He said: “From a personal point of view, Wigan Athletic is all I’ve known since the age of four.
“Many children have the dream of playing professional football for the club they support. My dream was slightly different and one that is beyond the realms of reality. I always had my heart set on running Wigan Athletic.
“I am of course still young but to be able to look back on my three and a half years of chairmanship having seen my club achieve two league titles and beating Pep Guardiola’s Manchester City on that incredible Monday night to reach the quarter final of the FA Cup, it will quite simply be the proudest three and a half years of my life, and nothing will ever change that.
“I will make myself available to ensure a seamless transition and of course my resignation is subject to completion but I am sure you can all appreciate there is always a point in time to move on and this is it.
“This announcement allows me to reflect but also look positively towards the future wherever my path takes me next. I will be staying within football. It is an industry like no other.”
The firm said it wanted to buy the Whelan family shares along with the DW Stadium and the club’s training ground.
The deal was subject to the approval of IEC’s shareholders and approval from the English Football League.
This summer the Football League approved the sale and the company was in the final stages of gaining shareholder approval.
David Whelan, 81, who took control of the club 23 years ago, has said he expects the deal to finally close within two days.
Wigan Athletic were promoted to the Championship this season and are currently 16th in the league.
Last month the club said in a statement: “The change of ownership is expected to complete within the next six weeks subject to, and upon the fulfilment of, certain conditions including the approval by the shareholders of IEC of the relevant transactions for the change of ownership.
“We would like to stress our appreciation once more for your patience and continued loyal support throughout this process.”
International Entertainment Corporation is listed on the Hong Kong Stock Exchange.
The group is mainly involved in hotel management and the leasing of properties for casino and ancillary leisure and entertainment purposes.
In 1995, David Whelan bought a stake in Wigan Athletic Football Club and, during the next 10 years oversaw the club’s promotion from the fourth tier of the Football League to the Premier League, and a famous FA Cup Final victory over Manchester City in 2013.
Law firm Squire Patton Boggs is advising on the acquisition. The Squire Patton Boggs team advising International Entertainment Corporation is led by corporate partner and football M&A expert David Hull, assisted by corporate associate Annie McElwain.
