Wigan survival boosted after former owner waives £36m owed by club
20-Aug-2020 14:34:45 | The Guardian
- Au Yeung Wai Kay agrees to write off debts owed
- Administrators say reported potential buyer is ‘not credible’
Administrators working to save Wigan have said that the former owner, Au Yeung Wai Kay, has agreed to waive debts of about £36m owed to him by the club. The news comes as reports of a new offer to take control of the club were dismissed amid growing uncertainty as to the outcome of the administration process.
Last weekend, Yeung was revealed to have made inquiries about putting the club into administration last May, days before he completed his takeover. The true motives behind his purchase remain a mystery but it now appears he will not retrieve a single penny of the money his company, the Next Leader Fund, put into the club.
Related: Wigan administrators set strict deadline of 31 August for potential buyers
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