Dave Whelan agrees deal to sell Wigan Athletic to Hong Kong-based company

07 February 2018 03:15
• IEC’s main business is a hotel and casino in the Philippines• Company has until 14 February to finalise details of purchaseThe Wigan Athletic owner Dave Whelan has reached an outline agreement to sell the League One club to a Hong Kong-based company whose principal business is running a hotel and casino in the Philippines. The company, International Entertainment Corporation (IEC), announced the agreement of a “term sheet” with the Whelan family to the Hong Kong Stock Exchange last week, stating that they will have an exclusive fortnight to 14 February to negotiate the price and details of the purchase.Registered in the Cayman Islands tax haven and floated on the Hong Kong stock exchange, IEC said of their interest in Wigan: “The proposed acquisition, if materialized, represents a good opportunity to diversify the income stream of the company and broaden its revenue base.” Related: Will Grigg hits double as Wigan cause FA Cup upset against 10-man West Ham Continue reading. . read full article

Source: TheGuardian