BusinessBusiness RecoveryUS-based businessmen bail out Oldham

US-based businessmen bail out Oldham

Three British businessmen based in New York have paid £5m to buy Oldham Athletic Football Club, saving it from bankruptcy.

Link: Oldham faces wind-up

Oldham is one of the oldest clubs in the football league and is also one of the founders of the Premier League.

The club went into administration last year, with Jon Newell and Phillip Long, from PKF, appointed advisers to the cash-strapped club.

According to the administrators, the businessmen had a lifelong ambition to own a football club, and have given Oldham Council an undertaking that it will maintain a club in the town for at least 10 years.

Oldham Council has recouped its investment in the club.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor