Purchase of Latics AND Boundary Park agreed
Date published: 30 June 2022
The buyer is not a consortium but a longstanding successful local business
A takeover of struggling Oldham Athletic has been agreed - following a period of uncertainty about the club's future.
Latics dropped out of the Football League for the first time in its 115-year history at the end of last season.
It follows a backlash from fans against current owner Abdallah Lemsagam who took ownership of the club in 2018.
A statement from the club says Abdallah Lemsagam and Simon Blitz, the land owner, have agreed to make significant compromises to enable the sale of Oldham Athletic Football Club and Boundary Park Stadium to be consolidated under one single ownership.
The statement adds that both parties have been "true to their word with a genuine willingness to sell".
Oldham Council have been notified of the process the whole time and have been "very supportive in helping bring all parties together".
Heads of Terms are agreed and funds are in place for the purchase of both Oldham Athletic Football Club and Brass Bank Limited - the owners of Boundary Park Stadium and surrounding land. This will see the club reunited with the stadium.
The buyer is not a consortium, but a longstanding successful local business.
The identity of the business will not be made public until the deal has been completed and the owner’s and director’s tests have been passed.
Completion of the purchase is expected within four weeks
Season ticket sales, all club sponsorship and commercial activity will be reopened once completion has taken place.
The statement added that the announcement "is aimed to reduce speculation and provide long term certainty which will help John Sheridan continue to build a competitive squad".
Councillor Amanda Chadderton, Leader of Oldham Council, said she was "delighted" to hear the news of a new ownership for Oldham Athletic.
“This is really good news for the club, its supporters, and the whole borough after the despair and heartache of recent years.
“We’re looking forward to working with the new owner and understanding more about their plans to take the club forward.
“No one has to tell them they have a big job on their hands, but I’m sure they can’t wait to get started as, like us at the council, they want the best for the residents and fans.
“The club have our full support and we wish them well for the coming season.
“We all want to see Latics back in the football league - it’ll give the whole town a boost.”
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