Wigan expect Chinese investors to complete takeover within six weeks

Wigan expect Chinese investors International Entertainment Corporation to complete their club takeover within six weeks.

The Sky Bet Championship club have provided an update on the change of ownership having formally agreed to a £22million deal with the Hong Kong based company in May.

“Previously, it was confirmed that the sale of the Whelan family’s shares to IEC was subject to the approval of IEC’s shareholders and the consent of the EFL (English Football League),” Wigan said in a statement.

“The consent from the EFL was received in summer 2018 and IEC is now proceeding into the final phase of obtaining its shareholders’ approval in Hong Kong.

“A public circular was released and despatched by IEC to its shareholders on 9 October 2018 which provides, amongst other things, full details of the potential change of ownership.

“The change of ownership is expected to complete within the next six weeks subject to, and upon the fulfilment of, certain conditions including the approval by the shareholders of IEC of the relevant transactions for the change of ownership.”

Wigan’s current owners, the Whelan family, became majority shareholders in 1995 and chairman David Sharpe took over the role from his grandfather, Dave Whelan, in 2015.

The Latics are in 12th place in the Championship after winning promotion back to the second tier as League One champions last season.

Football Paradise Staff Reporter

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