Another rescue package

An unknown investor is prepared to fund most of a rescue package with plans that include the Supporters’ Trust regaining control of Boundary Park. The deal would provide enough money to pay wages, stave off liquidation and give the club a chance of long term survival. The Trust would be bringing most of the funds to the table, thus giving them a majority stake in the club. Chris Moore is ready to transfer his 95-per-cent shareholding, which would be divided between the various parties involved.

John Connelly, spokesman for the Trust said, “We have a meeting tonight and hopefully something concrete will happen very soon. The deal gives us a basis to go forward into a new era. Ultimately, we want to enhance the interests
of the club and the Oldham community as a whole. To support the full initiative, including the development of a state-of-the-art stadium, we believe the best way forward is for the Trust to hold 51 per cent of shares. Two years down the line, that would be reduced to 25 per cent or less. We would then be responsible for the club’s infrastructure and allow others to invest in the playing side. The division of shares is a particular concern to us and everything connected with the buy-out should be transparent. We need a period of consultation so that the club has a clean slate. Everything should be done in the interests of Oldham Athletic.”