Latics handed a stay of execution

Last updated : 10 September 2003 By The Chairman

Athletic have been granted a reprieve by the Football League. The club have been given permission to continue trading, at least until the next meeting which takes place on 13th. October. This gives the club and it’s supporters the opportunity to continue the amazing fund raising which has gone on over the past few months. The aim is to raise a total of £1.2million which will ensure that the club can at least complete this season, and give them valuable breathing space in their long term plans for financial security.

John Nagle, speaking for the FA said: “The board will always give clubs time to sort out their problems and October 13th. isn’t necessarily a deadline. They will keep abreast of Oldham’s situation and the administrators need to demonstrate that progress has been made.”

Club Chairman Barry Chaytow has hinted that a wealthy individual is ready to open talks with administrators PKF and said, “We are very pleased that the league has come to this decision and given us breathing space. I believe somebody will come along in the next five weeks and I had a meeting with one interested party on Sunday. I think he is quite a serious investor and I’m hopeful things will move forward over the next week or two. Our meeting was very useful and I have to say he’s someone I feel quite confident about.”

The potential investor wishes to remain anonymous but it would be a huge boost if things could be put into place before the next crucial meeting of the FA.