Oldham L atest
Oldham appear to have escaped liquidation after owner Chris Moore finally agreed to hand over control of the club to a buy-out team headed by Sean Jarvis and Neil Joy.
Moore also agreed to write off £4.5million owed to him by the club when he transferred his 95 per cent share-holding to commercial manager Jarvis and club accountant Joy.
Jarvis claimed the agreement marks a huge turning point in the club's battle for survival.
"That's it, Mr Moore's involvement with the club is finished," said Jarvis. "The club has been saved - but is still not safe.
"There is still an awful lot of hard work to do and we will be looking to put the club back in the hands of the local community.
"This is an exciting day for Oldham and a huge relief that the share-holding is back in Oldham where it belongs."
The news will not have come too soon for team boss Iain Dowie who recently accused Moore of "ripping the heart out of the club" when initially turning down the same deal put to him by Jarvis.
Dowie has been helpless to prevent some of his best players being sold off in the close season, with Fitz Hall and Chris Armstrong being snapped up by Southampton and Sheffield United respectively.
Others were allowed to walk away after both players and staff went seven weeks without being paid.
"We are delighted to announce that former Latics chairman Chris Moore has transferred his 95 per cent share-holding to the management buy-out team headed by Sean Jarvis and Neil Joy," said Jarvis.
"In addition to transferring his shares Chris Moore has agreed to write-off £4.5million owed to him by the club and that now means we can implement our survival plan that includes the Supporters' Trust and the business community and any other investors that would like to get involved.
"It's an historic day. We will not be looking back - we've just got to keep looking forward."
Latics fans had already formed Trust Oldham in a bid to have a greater influence on the running of the club, while a Business Advisory Group has also been established with Jarvis and Joy working frantically behind the scenes to save the club.
Oldham appear to have escaped liquidation after owner Chris Moore finally agreed to hand over control of the club to a buy-out team headed by Sean Jarvis and Neil Joy.
Moore also agreed to write off £4.5million owed to him by the club when he transferred his 95 per cent share-holding to commercial manager Jarvis and club accountant Joy.
Jarvis claimed the agreement marks a huge turning point in the club's battle for survival.
"That's it, Mr Moore's involvement with the club is finished," said Jarvis. "The club has been saved - but is still not safe.
"There is still an awful lot of hard work to do and we will be looking to put the club back in the hands of the local community.
"This is an exciting day for Oldham and a huge relief that the share-holding is back in Oldham where it belongs."
The news will not have come too soon for team boss Iain Dowie who recently accused Moore of "ripping the heart out of the club" when initially turning down the same deal put to him by Jarvis.
Dowie has been helpless to prevent some of his best players being sold off in the close season, with Fitz Hall and Chris Armstrong being snapped up by Southampton and Sheffield United respectively.
Others were allowed to walk away after both players and staff went seven weeks without being paid.
"We are delighted to announce that former Latics chairman Chris Moore has transferred his 95 per cent share-holding to the management buy-out team headed by Sean Jarvis and Neil Joy," said Jarvis.
"In addition to transferring his shares Chris Moore has agreed to write-off £4.5million owed to him by the club and that now means we can implement our survival plan that includes the Supporters' Trust and the business community and any other investors that would like to get involved.
"It's an historic day. We will not be looking back - we've just got to keep looking forward."
Latics fans had already formed Trust Oldham in a bid to have a greater influence on the running of the club, while a Business Advisory Group has also been established with Jarvis and Joy working frantically behind the scenes to save the club.
