Saudi interest in Wigan takeover cools

Wigan lost 2-0 at Ipswich on Sunday after being given permission to start the new season in League One

Last Updated: 15/09/20 3:48pm

Wigan Athletic are currently in the hands of the administrators
Wigan Athletic are currently in the hands of the administrators

A company based in Saudi Arabia who have shown an interest in buying Wigan Athletic have cooled their interest.

MBuzz, a telecoms company based in Riyadh with offices across the globe, were reported to be ready to offer £3m for the troubled League One club.

However, it seems the only firm offers are coming from a consortium which includes Tampa Bay Rays owner Randy Frankel and former Barnsley CEO Gauthier Ganaye, another unnamed backer from the USA, a Bahrain based consortium, and two UK-based bidders.

The club’s administrators Begbies Traynor set a deadline of August 31 for Wigan to be sold after the club had been placed in their hands on July 1.

The Latics were subsequently relegated to League One after a 12-point deduction was imposed by the English Football League.

2:02
Highlights of the Sky Bet League One match between Ipswich and Wigan
Highlights of the Sky Bet League One match between Ipswich and Wigan

Wigan were given permission to start the season before losing their opening game of the season 2-0 at Ipswich last Sunday.

But a decision on a sale will need to be made soon as the pressure mounts on securing a future for the former Premier League side.

Administrator Gerald Krasner said last month that any prospective owner would need £4m to complete a takeover and that would include the DW Stadium which has been valued at £3m, and the training ground.

ONE MILLION POUNDS! Can you imagine?

You read correctly. Do not miss your chance to scoop £1m for free in this week’s Super 6 round. Play for free, entries by 3pm Saturday.

Source : Sky Sports