Wigan Athletic: Chinese company IEC plans to spend once £22m deal completed
A £22m takeover of League One champions Wigan Athletic by Chinese investors has been agreed.
Hong Kong-based International Entertainment Corporation announced on Monday it had paid a £1.5m deposit on the deal.
Wigan chairman David Sharpe and his family have been majority shareholders since 1995, overseeing the Latics' FA Cup triumph in 2013.
The deal is subject to Hong Kong Stock Exchange approval and EFL consent.
IEC confirmed how much it was paying for the club, its stadium and training grounds in a statement to the Hong Kong stock exchange on Monday.
It plans to appoint "two UK-based individuals who have knowledge and experience of the English game" to help run the club.
It added investment in the playing staff was central to its business plan.
Sharpe took over at the helm of the club from his grandfather, David Whelan, in 2015.
"We are very proud of what we have achieved for the football club, our supporters, the town and the local community," Sharpe said.
He added that the deal to transfer the club, the DW Stadium, and training grounds "was now agreed, in principle" and followed "several months of discussions, negotiations and due diligence".