International Entertainment Corporation is set to end the Whelan family's 23-year ownership of Wigan
Tuesday 9 October 2018 11:59, UK
Wigan Athletic have confirmed they expect the £22m takeover by International Entertainment Corporation (IEC) to be completed within six weeks.
The takeover moved a step closer after IEC announced to the Hong Kong Stock Exchange that it is recommending the purchase to its shareholders.
IEC has been in negotiations to buy the club since last year and following an EGM, expected to be held in three weeks' time, the Sky Bet Championship club will have new owners, bringing to an end a 23-year association with the Whelan family.
A Wigan statement read: "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.
"The change of ownership is expected to [be] 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."
Meanwhile, the IEC's announcement also confirmed former Everton and Manchester City manager Joe Royle, along with his son Darren Royle, will be the company's UK representatives on a new board of directors at Wigan.
The letter from the IEC board stated Joe Royle's appointment would "mitigate the relegation risk" and "enhance its chances to be promoted".
Wigan were Sky Bet League One champions last season, and are currently 12th in the Championship table.
