Monday is new deadline for survival

Administrator Jon Newell has stated that next Monday will be the deadline for any potential investors to ‘show the colour of their money’. Without cash on the table all the best wills in the world are worth nothing. If any group can at least produce enough to cover running costs for October then a period of exclusivity will be granted to enable them to get the remainder of the package together.

Mr. Newell stressed that PFK does not have the finance in place and will not permit the club to run up further costs which cannot be met. Of the interested groups Mr. Newall added, “I am sure the motives are admirable, but we cannot do it without cash. The groups we have spoken to all say there is no problem with that. But it has reached the proof-of-the-pudding time. Latics cannot be run unless the wages are paid and £1million is needed to take us through to Easter, though we are suggesting only one fifth of that be put down now.”

The administrators will have no alternative but to close down Athletic on, or shortly after, October 6th. if finances are not found.