Always doubted it would happen after the way clubs have managed to avert folding. Terrible news for Oldham fans if it does happen, but will it turn into a domino effect once one reasonably sized club folds?
This from Newsnow, I think originally from Soccernet;
Saturday, July 19, 2003
Oldham on brink of extinction
Oldham marketing manager Sean Jarvis has conceded the Second Division club could be entering 'their darkest hour' following the collapse of another takeover bid.
Club officials had been locked in talks with a Norwegian consortium but the deal collapsed on Friday, leaving the Latics on the brink of liquidation.
Club owner Chris Moore is desperate to sell his 95% shareholding having announced he is no longer prepared to bankroll the Latics.
'This is potentially our darkest hour,' Jarvis told the club's official website. 'But I do believe we can still come out of this mess.
'The way I see to do this is to do it together. The Survival Trust is a massive part of the future and funds must go into the pot as soon as possible.
'Businesses need to come forward and show their support. If there are any other major investors that either want to buy the club or may wish to be involved in the survival plan the time is now.
'The next few days are critical.'
Vidar Fossdal had been brokering the deal and he insists he was let down when a mystery Norwegian backer pulled out of the deal.
'When I entered into the negotiations earlier this week I genuinely believed that I had a substantial financial backer, who unfortunately has now withdrawn from the transaction,' Fossdal said in a statement.
'Despite my further efforts, I have not been able to find a replacement in the short time available.
'I deeply regret that the transaction has not proceeded.'
It is the second setback in a week for Oldham, who saw a deal earlier in the week - which would have seen local businessman Barry Chaytow installed as chairman - fall apart at the last minute.
I personally feel that if Oldham do go (and I sincerely hope that they don't) it will cause a domino effect. Up until now clubs have survived by the skin of their teeth, probably based upon goodwill from those who would wind them up, and also a fear about being the 1st to be to blame for winding up a club (in recent years anyway).
If one club goes it will open up the floodgates for other clubs to fold. We might see 2 or 3 clubs going out of business by Xmas.
The point I want to make here is that under the current Directors at the Albion there is not a chance in hell of us going that way. Yes, we may be poor, and without a ground, but we are mostly debt free, and DK, MP et al will not let us get so deeply into the shit where it could happen. Those on here who argue for us to gamble a little and get in players we currently can't afford should look at Oldham as a warning as to what can happen if you are reckless with a football club's finances.
Effigy of Latics chairman burned outside his offices
THERE were dramatic scenes outside the offices of Oldham Athletic owner Chris Moore’s Oxfordshire offices today as protesting fans of the crisis-hit club burned an effigy of him.
The 25-plus group of protesters had made the 150-mile trip south as a visible sign of their anger at how the sale of the club has become drawn out over the last few months.
Fans now fear that Oldham Athletic will not be trading by the time the new season starts on Saturday, August 9, and are pleading with Mr Moore (left) to do everything in his power to save the club from extinction.
One fan at the Banbury protest, Ian Thomas (40) said: “We see Mr Moore a two-faced asset stripper who has raped the club for everything it is worth.
“We just want him out and to sell the club to Sean Jarvis and Neil Joy.
“It’s nothing to do with the staff at Torex — it’s about him and we want to show him how strongly we feel.
Another fan Ben Gates (18) said: “We are losing £50,000 a week and he is supposed to be an accountant. I just want to keep the club going.
“I don’t mind if we are struggling but its got to be better then going down to Tesco with my mother on a Saturday.”