Ridsdale officially out of the running

Last updated : 04 July 2003 By The Chairman

Peter Ridsdale has officially admitted that he will not back any investment in the Latics as he could not see any solution to their problems. He said, “The task of turning things round is too great.” Ridsdale didn’t plan to make a personal investment, but he is backed by business men who also want an involvement in the game. He has now switched his attentions to either Luton Town or Queens Park Rangers.

Of his decision Sean Jarvis (pictured) commented, “We are obviously disappointed that Mr. Ridsdale decided Latics wasn't for him. We respect his decision and of course wish him well for the future. This is a setback for us and, as each day goes by, it’s becoming clearer that white knights aren’t exactly queuing round the block. As for us the fight goes on. Supporters have been fantastic in this gloomy chapter of our history but as I have said before I am positive we can come through this. Sadly there are no multi millionaires coming over the horizon but there are still a couple of potential interested parties that could help us with a fighting chance.”

“There are also a couple of initiatives where our supporters can help. One is the Supporters Trust. We have the game planned for the 12th. July so naturally that will swell the coffers but we need to get the trust to a quarter of a million as soon as possible. The second is the new advisory group. So far two people have signed up but we need a further eight who can contibute. Our survival is going to be difficult but we must go hard or we go home!”

As Athletic have stopped paying creditors, any one of them can issue a compulsory winding-up order against the club. There is an extraordinary general meeting planned for July 18th. although it might turn into a wake as it looks like being the final deadline unless a saviour appears. Things are certainly looking glum and the Latics could be the first team to disappear from the league since Maidstone in 1992.