Oldham live to fight another day after being handed an 11th-hour reprieve by administrators.
A mystery American-based consortium appears to have saved the club from closure by entering into negotiations to buy the Latics and take them out of administration.
"All parties will now be working flat out over the next few weeks to complete a deal which should see the club out of administration," confirmed administrator Paul Ashworth of accountants PKF.
Oldham chairman Barry Chaytow said: "I am delighted by the latest turn of events, but have been confident throughout my negotiations with various parties over the last few weeks that one of them would step in and secure the future of the club.
"I feel very confident that this new consortium will now allow the club to move forward and be saved from extinction."
Latics officials have been working furiously behind the scenes to keep the club afloat ever since former owner Chris Moore stopped bank-rolling weekly losses of £50,000 at the end of last season.
A mystery American-based consortium appears to have saved the club from closure by entering into negotiations to buy the Latics and take them out of administration.
"All parties will now be working flat out over the next few weeks to complete a deal which should see the club out of administration," confirmed administrator Paul Ashworth of accountants PKF.
Oldham chairman Barry Chaytow said: "I am delighted by the latest turn of events, but have been confident throughout my negotiations with various parties over the last few weeks that one of them would step in and secure the future of the club.
"I feel very confident that this new consortium will now allow the club to move forward and be saved from extinction."
Latics officials have been working furiously behind the scenes to keep the club afloat ever since former owner Chris Moore stopped bank-rolling weekly losses of £50,000 at the end of last season.
