The administrators of Wigan Athletic have identified a preferred bidder to buy the beleaguered Championship club, after receiving five offers in total.
Wigan could effectively be relegated from the Championship on Wednesday, with their 12-point deduction set to be applied after their meeting with promotion-chasing Fulham at the DW Stadium.
Paul Cook’s side are currently 13th in the table with 58 points, though need to beat Fulham and hope other results go their way in order to guarantee safety. As it stands, the 12-point penalty will see Wigan occupy the final relegation spot.
The points deduction is subject to an appeal which is set to be held on 31 July. Gerald Krasner, who is leading the administration, said even a successful appeal will cost the club between £400,000 and £500,000 in legal fees.
Krasner said that the club’s current owner Au Yeung Wai Kay has agreed to be interviewed by the administrators at some point in July.
Little is known about Au Yeung, who completed his takeover of the club from Hong Kong businessman Stanley Choi last month.
The administrators are conducting an investigation into how Wigan came to enter administration only a month after Au Yeung’s takeover, though said on Wednesday their findings would not be made public.
The anonymous preferred bidder has until noon on Thursday to respond to a letter from the administrators setting out the timetable for a sale and provide proof of the entire funds needed for the acquisition.
Krasner said: “The basis of the sale is contracts have to be exchanged by July 31st. Once exchanged, the proceeds will be held in escrow pending completion.
“Completion is subject to passing the EFL’s owners’ and directors’ test which at best could take three weeks. We are in semi-limbo, waiting for letters back, contracts to be signed on 31st July, and waiting for the EFL.”
