Wigan Athletic administrators extend deadline for rescue deal

A deal to sell Wigan Athletic FC will not be done by the end of month deadline.

However, joint administrators from Begbies Traynor said they were still in talks with four parties about a potential sale and were confident of achieving a positive outcome in time for the start of the new League One season, when Wigan are due to travel to Ipswich Town on September 12.

Administrators had previously set an August 31 deadline to conclude a rescue deal for the club which entered administration on July 1, but joint administrator Gerald Krasner said in a press conference today (August 27) that that would now not be possible, adding: “There isn’t a new deadline, to a day.

“But this job changes by the hour … when we said, at the last press conference, the 31st of August … it wasn’t to scare people but to make people realise time is running out. And it’s still running out. But we’ve been able to put some more sand in the egg cup.”

He said just £1 would be enough to buy the club – but the assets would cost £4m, comprising £3m for the stadium, £500,000 for the training ground and £500,000 for a piece of land next to the stadium.

“If we get that, we can clear the debts, pay the costs and the club can go forward. I am offering the club at, effectively, £1.”

Referring to the ongoing negotiations he said there are four bidders, two from America and two from the UK: “I have four bidders at an advanced stage of negotiation.

“All of them have got associations with football and would know what to do.

“One of the bidders wants to get it done by September 13. We are in a contract race.”

The joint administrators have ruled out selling the stadium, separate to the club.

Reports linked Wigan Warriors chief Ian Lenagan with a bid for the ground.

The rugby league side also plays at the DW Stadium, along with Wigan Athletic.

But Mr Krasner said: “Without naming anyone, because of the non-disclosure agreements, I had an approach to buy all the properties but not the club.

“I also had an approach to buy the properties split between two parties, with one buying the club.

“That collapsed quickly. There’s been an offer for just the properties, which I will reject.”

Yesterday the supporters’ club launched a campaign to raise £500,000 to secure the Latics’ future, and within a day had raised £100,000.

But Mr Krasner warned that, unless a deal is achieved soon, the future for Wigan Athletic could look bleak: “At that stage we would have to seriously consider whether the club has a future and whether we should just sell the properties and put the club into liquidation.”

However, he confirmed that all wages for June, July and August have been paid, together with bonuses.

Both joint administrators, Gerald Krasner and Paul Stanley, also spoke about abuse they have received, mostly on social media, during the administration process.

Paul Stanley said: “When you are putting 12 hour days in with genuine people the criticism, I think, was unfair. You have just got to ingore the ignorant, I think.”