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Wigan takeover called off

Tue 05 January 2021 | 17:20

The Spanish bidder has changed their decision as they reduced the initial offer by 50%.

Wigan

’s change of ownership has been called off as the Spanish bidder reduced their offer by 50%. The bid was accepted by the club in September but on Tuesday morning a statement from the Latics revealed bad news.

The statement read:

“As of 11 am today, the administrators have broken off negotiations with the Spanish bidder.

“The facts are that as late as Christmas Eve the bidder indicated that they wanted to complete the deal immediately and had wired money from Spain to their UK solicitors.

“This was confirmed as being received by their solicitors over the Christmas period. The sale contract was agreed, the documentation had been signed in relation to the assignment of the leases with the council (stadium) and college (training ground) and completion was planned to take place in between Christmas and New Year.”

Wigan have been in administration since the start of July, when a 12-point deduction saw them relegated to League One.

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source: SportMob