March 16 – Wigan’s administrators have announced a deal for the sale of the club that in 2013 was in the Premier League and winning the FA Cup, but is now battling for survival and to avoid the drop to England’s fourth professional tier.
The sale to Phoenix 2021, the investment vehicle of Bahraini Abdulrahman Al-Jasmi, is still to be cleared by EFL though that is not anticipated as being a problem.
The deal comes just in time for the club that went into administration last summer and were relegated to League One. Wigan are two points above the relegation zone and with this deal will avoid a 15-point deduction. The deal is expected to complete by the end of the month.
A clubs statement said: “We have agreed a sale of the club and related assets to Phoenix 2021 Limited and we are in the process of finalising the transaction.
“Contracts have been exchanged, a deposit has been received and it is envisaged that the sale will be completed by 31 March 2021 at the latest.
“The outstanding matters that need to be finalised to allow completion are practical matters around EFL membership and property transfers.
“The sale allows for non-football creditors to be paid a minimum dividend of 25p in the pound which avoids a 15-point penalty deduction for the club which improves the prospect of remaining in League One this season.
“We are working with the purchaser and their management team to ensure that the sale of the club concludes as soon as possible to allow some much needed stability both on and off the pitch.
“We have also been working closely with the EFL in relation to the sale and liaising regularly with the official supporters club.”
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