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Crisis at Wigan as major update emerges over takeover saga

Crisis at Wigan Athletic continues as a major update emerges over the proposed takeover saga with the club in administration.

The League One side’s future is hanging by a thread after their proposed takeover was blocked by the EFL after the Spanish bidders did not meet League requirements.

In September, the Latics’ administrators announced an agreement with a ‘preferred bidder from Spain’ to purchase the club.

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However, after investigating the proposed buyer and undertaking ‘due diligence’, the English Football League have rejected the bid, meaning Wigan are still in administration.

‘At its meeting on Thursday, the EFL Board received an update and fully considered the latest position in respect of the ongoing discussions relating to the sale of the assets of Wigan Athletic,’ an EFL spokesman said.

‘The EFL has in recent weeks undertaken significant due diligence on the relevant parties in accordance with its Regulations and, based on the information that has been made available…

‘The Board confirmed that it was not in a position to agree to an application to transfer membership in the EFL to the proposed purchasers as the League’s requirements have not been satisfied.

‘The Board reiterated its commitment to working with the Administrators to secure a successful and sustainable future for the Club and will meet with them to discuss the implications of this decision at the earliest opportunity.’

It is a huge blow for Wigan, given sources close to the club said the deal would be completed in a matter of weeks when it was first put in during September.

Wigan were relegated from the Championship last season after receiving a 12-point deduction for entering administration.

They’re currently bottom of the League One table, on just eight points after 14 matches.

They were also knocked out of the FA Cup first round by National League North side Chorley.

Wigan MP Lisa Nandy says the EFL’s stance is in the best interests of the club.

“This decision will finally allow us to move forwards and secure the long-term future of Wigan Athletic,” she tweeted.

“We now need the administrators to open up the process and press ahead with the right solution for Wigan Athletic.”

In the meantime, the exclusivity period will remain while the Spanish decide their next move.

“We don’t think this is an insurmountable problem,” said administrator Paul Stanley.

“It’s up to the Spanish bidders now to tweak their application and come back.”

Meanwhile, the administrators have confirmed Latics will receive £375,000 from the EFL via the Premier League’s ‘rescue package’.

They are also eligible for another solidarity payment from the governing body, which will see them safe into the new year.

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