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Last Updated: Tuesday, 3 February, 2004, 14:51 GMT
Latics takeover approved
Oldham's Boundary Park stadium
Boundary Park has new owners
Oldham are set to come out of administration after Football Association and Football League approval of a takeover bid.

An initial bid by a trio of New York-based English businessmen was blocked.

But the go-ahead has now been given for Latics membership and fixtures to be transferred to a new club, Oldham Athletic (2004).

One of the new owners, Simon Blitz, said: "We are pleased today to start a new era at Boundary Park."

The trio - Blitz, Simon Corney and Danny Gazal - now expect to complete the purchase.

After making their fortunes in mobile phones, the three lifelong friends aim to turn the Latics' on and off-field fortunes around by taking a financially stable club into Division One within five years.

We do have a clear vision for the future
Simon Blitz, new Oldham consortium

Blitz said: "I would like to pay tribute to those involved in the negotiations, including the FA, the Football League and of course the administrators, PKF.

"I would also like to mention Latics supporters and the Supporters' Trust, who have been very patient with us during negotiations and have demonstrated fantastic support."

Oldham have survived on a week-to-week basis since millionaire businessman Chris Moore stopped bankrolling the club to the tune of 50,000 a week at the end of last season.

Former manager Iain Dowie, installed at Crystal Palace last month, steered the Latics to the Second Division play-offs on a shoe-string budget last season but then had to look on in the summer as the club sold off half a dozen of his best players.

Veteran duo John Sheridan and David Eyres have since been installed on a joint-caretaker basis and following promising results were recently given an extra five matches to prove they are the right men for the job.

Blitz added on the club's official website: "We do have a clear vision for the future.

"But the difficulties the club has gone through over the past 12 months means we have a period of consolidation and the implementation of a rebuilding strategy."

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