Former Chairman Chris Moore last night transferred his 95% shareholding over to Sean Jarvis and Neil Joy and also wiped out the £4.5 million owed to him by the club.
They will now meet with the Football League next week to offer them assurances that the commitments for the new season can be fulfilled.
Sean Jarvis said: "We have a mammoth job in front of us and are going to need every bit of help possible. Trust Oldham and the business people in the community are crucial to the success and ongoing survival of the Club.
"I would like to stress that we cannot sit back and expect the Club to survive. Everybody linked to Latics including fans, businesses, sponsors, suppliers will all need to pull in the same direction to rebuild this great Club."
This Monday Latics will take on Blackburn Rovers at Boundary Park with entrance by donation of a minimum £10 (concessions £5). The visitors have agreed to waive their rights to any revenues. Kick off is at 7:45 p.m. and please get to Boundary Park if you possibly can.
My time helping out with this site is coming to an end and I am just relieved that I can hand it back with Oldham Athletic still in business. I understand what you have been through, I came close to losing my club 16 years ago when we came within one match of closing down. I know how you have felt and just hope you can get things back as they should be in the near future.
Me, I'll return to watch my team play Leeds at Turf Moor on Sunday. Best wishes to you all for the coming season.