BusinessBusiness RecoveryOldham FC gets 11th-hour reprieve

Oldham FC gets 11th-hour reprieve

Oldham Athletic Football Club has been spared from closure following the last minute appearance of a business consortium interested in taking over the club.

Link: Football finance crisis strikes Oldham

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.’

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