Ridsdale decision leaves Oldham on the brink

Oldham are facing extinction after being told by Peter Ridsdale that he cannot save the ailing Second Division outfit.

Ridsdale was asked if he was interested in spearheading a takeover of the Boundary Park club, who have been walking a financial tightrope since former owner Chris Moore withdrew his backing, leaving the Latics unable to meet their massive liabilities.

However, after a thorough look through the club’s finances, the former Leeds chairman has decided not to get involved and fears Athletic might be doomed.

Oldham’s remaining officials are frantically searching for other parties to bail the club out but even manager Iain Dowie, who performed heroics to get them into the play-offs last season, fears the worst.

Even before learning of Ridsdale’s decision, he doubted whether the Lancashire outfit would survive.

“I am not sure the club will even be here on Monday morning, that is how grim the reality is,” admitted Dowie.

“We are giving the club mouth to mouth every day. It really is as grim a situation as I have ever been in.”

Now, a club who just a decade ago were rubbing shoulders with Manchester United and Arsenal in the Premier League, face becoming the first Football League club to go out of existence since Maidstone followed Aldershot to the wall in 1992.

The situation is so bad that first-team players – who themselves are not being paid – are dipping into their own pockets to pay for the trainees’ lunches.

Even if the club survive into next week, matters look set to come to a head on Friday, July 11, when the 14-day deadline for the payment of £50,000 in overdue wages to the players expires.

Already three men – the highly-rated Fitz Hall, Will Haining and Les Pogliacomi – have served notice that they will exercise their right to walk away on a free transfer if their salaries are not met and a fourth, so far unnamed, member of Dowie’s squad has indicated he will do the same.

Should these circumstances arise, Oldham would effectively find themselves without any assets to pay off their creditors.

In that situation, it is difficult to see how they could avoid bankruptcy, leaving the club facing the probability of being wound up at an Extraordinary General Meeting on July 18.

Oldham’s marketing and PR manager Sean Jarvis, expressed his disappointment at Ridsdale’s reluctance to get involved in a rescue bid but said the fight for survival would go on.

“We felt Peter could have brought an awful lot to the club,” said Jarvis. “We wish him well in the future.

“As far as Oldham are concerned, we have to remain positive. We had a couple of meetings yesterday and one or two planned for today and some more early next week. Hopefully something will come out of them.

“We believe we have a good proposal to put forward and there is a real future for the club.”