Wigan Athletic: Former owner Au Yeung Wai Kay waives £36m owed by club

20 August 2020 0 By Total Football News
Au Yeung Wai Kay enquired about putting Wigan into administration before he had completed his takeover in June

Former Wigan Athletic owner Au Yeung Wai Kay has agreed to waive the £36m owed to him by the League One club.

It means the money can be used for the "benefit of the club" and will not need to be repaid by a prospective buyer.

The funds will also help pay creditors their minimum return as the Latics try to avoid further sanctions next season.

The Hong Kong-based businessman put Wigan into administration on 1 July, weeks after buying them, leading to a 12-point deduction and relegation.

Wigan had owed £25.3m to Next Leader Fund and and £10.7m to Wigan Athletic Holdings Limited.

A statement from club administrators Begbies Traynor said: