Oldham Athletic confirm club will be sold after agreement reached with local business

Oldham Athletic's owners have confirmed that they have agreed to consolidate the club's assets in order to allow the club to be sold.

The Latics were relegated to the National League last season, giving them the unwanted record of being the first side to play in the Premier League and drop out of the Football League altogether.

In a statement on the club's website, the sale of the club to an as yet unnamed local business has been set out by the club, and is expected to be concluded in the next few weeks.

'Abdallah Lemsagam and Simon Blitz have agreed to make significant compromises to enable the sale of Oldham Athletic Football Club and Boundary Park Stadium to be consolidated under one single ownership.' the statement read.

'Heads of Terms are agreed and funds are in place for the purchase of both Oldham Athletic Football Club and Brass Bank Limited - the owners of Boundary Park Stadium and surrounding land.'

'The buyer is not a consortium but a longstanding successful local business.'

'The identity of the business will be made public on completion of the Share Purchase Agreements and the Owners and Directors Test approval.'

'Target completion of the purchase is less than four weeks.'

Oldham will begin their National League campaign on the 6th August and will find out their opponents when the fixtures are released next week.