Jarvis said, “You could say that the club has now been taken off its death bed and has been moved into intensive care. The only problem which Neil and myself are left with is how we are going to pay back the £150,000 we have borrowed.”
Are the Latics safe?
Jarvis said, “You could say that the club has now been taken off its death bed and has been moved into intensive care. The only problem which Neil and myself are left with is how we are going to pay back the £150,000 we have borrowed.”
It is expected that Manchester businessman Barry Chaytow will soon be unveiled as the new Chairman of the Latics after talks with officials stretched late into the night. Jarvis went on, “All I can say at the moment is that the person we talked with yesterday is very interested in implementing our long-term survival plan. He is hoping to arrange a meeting with Mr Moore within the next 24 hours to iron out the details.”
The survival package involves buying back Boundary Park, by using a clause from the original sale, for £4m and then selling it on to Chaytow for £5m, with the £1m profit going to the Oldham Supporters Trust. Moore's 95% shareholding will be bought for £1 and will distribute between Jarvis, Joy, the Supporters Trust and Chaytow.