Wigan takeover: Interest from Saudi company cools
Wigan lost 2-0 at Ipswich on Sunday after being given permission to start the new season in League One
Tuesday 15 September 2020 15:48, UK
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.
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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.
