Wigan have announced that an agreement had been reached to sell the League One club to Phoenix 2021.
The Tics have been sold to company
Limited, with the transaction being 'finalized' after contracts have been exchanged and deposits being received.
Phoenix 2021 Limited is a UK-based company owned by
, who will become the new owner ofWigan
, subject to approval by the EFL board.
Wigan, who are two points above the relegation zone, will avoid a 15-point deduction because the "sale allows for non-football creditors to be paid a minimum dividend of 25p in the pound", improving their survival chances.
Thestatement on the website said
“We have agreed a sale of the club and related assets to Phoenix 2021 Limited and we are in the process of finalizing 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 finalized 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 £ which avoids a 15 point penalty deduction for the Club which improves the prospect of remaining in League One this season.