Oldham had looked as though it was due to fold after administrators PKF had given today as the deadline for a deal to be sorted out to take the club out of administration.
No such deal had been forthcoming but the interest from the as yet unnamed consortium, which has now entered into negotiations with the administrators, has earned the club a temporary reprieve.
It will now be able to continue for the next few weeks pending a decision from the Football League on whether to sanction the proposed takeover.
‘This is good news for the football club,’ said Philip Long, head of corporate recovery at PKF. ‘All parties will now be working flat out over the next few weeks to try and complete a deal which should see the club out of administration.’
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children