Wigan administrators hopeful of takeover deal before new season | Football News

Administrator Gerald Krasner said: “I’ve got what I call the front-runners. I’ve got two different groups of Americans and I’ve got two UK bidders.”

Last Updated: 27/08/20 1:15pm

Wigan are currently in the hands of the administrators

Wigan’s administrators are confident of completing a takeover deal with one of four serious bidders in time for the club to start the new season.

The club’s administrators Begbies Traynor set a deadline of August 31 for Wigan to be sold after the club had been placed in their hands on July 1.

The Latics were subsequently relegated to League One after a 12-point deduction was imposed by the English Football League.

Administrator Gerald Krasner said: “I’ve got what I call the front-runners. I’ve got two different groups of Americans and I’ve got two UK bidders.

“One of the UK people has got the wherewithal to do it, but has got certain conditions, so we’re still talking to these people and I’m still somewhat optimistic that ultimately one of these deals will come to fruition.”

Wigan Athletic Supporters Club has raised £100,000 in its bid to secure the club’s future, but Krasner said it was not among the four bidders.

Wigan were relegated to League One at the end of the season after being hit with a 12-point penalty for entering administration

Wigan were relegated to League One at the end of the season after being hit with a 12-point penalty for entering administration

“I don’t know whether the local business people want to buy the club with them or not,” Krasner said. “We cannot give preference to one bidder over the other.

“But we will in my opinion start the new season. I’m confident enough to approach the EFL today to say we believe one of the bids will come to fruition.”

Krasner said that any prospective owner would need £4m to complete a takeover and that would include the DW Stadium, which has been valued at £3m, and the training ground.

Wigan finished two points behind Barnsley after the Latics' 12-point deduction

Wigan finished two points behind Barnsley after the Latics’ 12-point deduction

“If we can sell those property assets at £4m, and that is the quoted price to everybody, the football club goes for £1.”

Krasner added that he expected the EFL to ask the new owners for a £5m bond to cover projected club losses over the next two years of up to £2.2m.

But Krasner warned that there was still a threat the club could be liquidated.

“I must be honest and I’m talking to the fans now,” he said. “If none of the bids, including the supporters, do come to fruition, we do run out of options.

“At that stage we would have to seriously consider whether the club has a future and whether we should just sell the properties and put the club into liquidation.”

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