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.
Both parties have been true to their word with a genuine willingness to sell.
Oldham Council have been notified of the process the whole time and have been very supportive in helping bring all parties together.
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.
Season ticket sales, all club sponsorship and commercial activity will be reopened once completion has taken place.
This announcement is aimed to reduce speculation and provide long term certainty which will help John Sheridan continue to build a competitive squad.