October 13th is NOT the deadline for survival

Last updated : 11 September 2003 By Dave Moore

A stark warning about the reality of Athletic’s crisis comes from PKF, with the administrators explaining that 13th. October is NOT the next deadline to reach. The current administration order runs out on September 30th. with the FA saying that they would discuss the matter on 13th. October.

Jon Newell of PFK explained, “The club simply cannot fulfill its obligations – September 30th. is absolutely our last date. The league meeting has changed nothing at all because our situation remains just the same. The money will run
out well before October 13th. unless somebody comes forward with a substantial investment. Our aim is the survival of the business, but at this moment in time it doesn’t come close to breaking even. We would have no choice but to go to court on September 30th. and tell them our objectives could not be achieved. There is an obligation to creditors which is not being fulfilled, no matter what date the Football League comes up with. The court wouldn’t force us into liquidation but, frankly, it’s the only way we could go.”

If the Inland Revenue, Customs and Excise and other creditors force liquidation on the club they would be obliged to sell off their assets. Assets are believed to realise a maximum value of £360,000 which would mean that the club would have to close down permanently.

Any new club could then be reborn with the name of Oldham Athletic but it would have to start life at the bottom of the non-league pyramid. A possible starting point would be the North-West Counties League which would mean derby matches against Oldham Town and Chadderton.

Things really are that critical and it is becoming increasingly crucial that a major investor is found immediately. The Latics existence could now depend on the potential investor of whom Barry Chaytow (pictured) hinted. Time is tight and the light at the end of the tunnel is becoming dimmer as each day passes. Saviour, wherefore art thou?