Losses persist at Oldham Athletic

OLDHAM Athletic failed to curb losses last year as net liabilities remained static at £5.3m.

But according to recently filed accounts for Oldham Athletic (2004) Association Football Club the main shareholder, chairman Simon Corney, has pledged to back the League One club.

The accounts for the year to December state: “At December 31, the company had net liabilities of £5.4m. The shareholders have indicated their present intention to provide adequate finance to enable the company to continue in operational existence and on this basis the directors consider that it is appropriate to prepare the financial statements on a going concern basis.”

Last year the club agreed a £5.7m deal with Oldham Council to redevelop its Boundary Park ground.

In August Preston-based architecture firm Frank Whittle Partnership unveiled plans for the the improvements which include a 2,300-seat North Stand, offices, a gym, 11 corporate boxes, shops and conference and banqueting facilities.