Race for control continues

Last updated : 08 October 2003 By Dave Moore

The fight to take control of OAFC is heating up and has taken a dramatic turn for the good for the club. An un-named Oldham businessman has offered to cover the running costs for October in an attempt to beat the two New York based investors to the punch. The Americans have already deposited the required £200,000 into an administration account but administrators PKF were today deciding whether to accept it or not. PKF need to consider all options. There are three serious bidders in the race and the bid with the best long term options will obviously be best for the club.

Jon Newell of PFK said, “We have been dealing with intermediaries and really don’t know who the principal might be – people often work like this and all I know is they are from our area.” When wages are paid at the end of October, Athletic need to find another £200,000 for the expenses in November. Mr. Newell went on, “Is is a difficult choice as both potential saviours had their strong points but were approaching a buy-out from different angles.” Paul Ashworth of PKF added, “This is good news for the football club. All parties will now be working flat out over the next few weeks to complete a deal which should see the club out of administration”.

Adding to the excitement, Latics Chairman Barry Chaytow said, “I am delighted at the latest turn of events. I have been confident throughout my negotiations with various parties over the last few weeks that one of them would step in and secure the future of the club. I feel very confident that this new consortium will now allow the club to move forward and be saved from extinction. I would like to thank the supporters, the Supporters Trust and members of the Business Advisory Group for helping to raise considerable amounts of money during the past few months. However, funds are still required and would urge everyone involved to continue their fundraising efforts.”

Whatever the outcome, the Latics will survive for another month which can only be viewed as good news.