Oldham Athletic: Frank Rothwell completes takeover of National League club from Abdallah Lemsagam

Last season, Oldham Athletic became the first former Premier League club to drop out of the English Football League

Businessman Frank Rothwell has completed a takeover of Oldham Athletic, buying the financially-challenged club from Abdallah Lemsagam.

The deal ends Lemsagam's tumultuous four-and-a-half-year stint as owner.

A club statement also said they are at an advanced stage to buy their Boundary Park home from former owner Simon Blitz over the next week.

"[This] ensures the club can approach the season and beyond with a genuine sense of anticipation," it said.

Rothwell, owner of Oldham-based company Manchester Cabins, has also passed the necessary owners and directors test.

The takeover comes after the club said in June that it expected a deal to take place within four weeks and ahead of the National League season beginning.

That announcement also stated that former owner Blitz, who owns Brass Bank Limited, and Lemsagam agreed "significant compromises".

An ongoing dispute over the ownership of their Boundary Park home, as well as concerns over the safety of their North Stand, has overshadowed on-field matters at the club.

Last season, the Latics became the first former Premier League club to drop out of the English Football League after they were relegated.

"My family have been looking for something to invest in for quite a while," Rothwell told BBC Radio Manchester.

"To get a consortium together and sell the idea to them became too big of a job. It was much simpler for us to buy it and later on bring a consortium in when things are steady.

"We've bought it debt free. We have confidentiality agreements so that's as much as I can say. It's a new era, a new chance and a new start."

Analysis - Reasons to be cheerful at Boundary Park

BBC Radio Manchester's Mike Minay

I was here for the final game of last season with protests against the current ownership and there was not a smile in sight.

As I walked into Boundary Park today, I was met with smiles and people with pints in their hands. They were feeling the optimism of a new era.

Frank Rothwell is certainly a character - donning a flat cap and sometimes forgetting his points - you get the impression he was allowed those missed sentences. Every word seemed positive.

Alongside him he has got some good advisors. Joe Royle is a Latics legend. His son Darren is the new CEO - handy people to rely on.

It's hard to say what may come - there's dreams of a steady climb back through the leagues. Importantly he has unified the club. From the fanbase to the stadium. Perhaps, the only way is up.

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