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Oldham Athletic's debts increase

Abbreviated accounts filed at Companies House show that Oldham Athletic (2004) Association Football Club Ltd had net liabilities of £3.1m in the year to December 31, 2008, up from £2.7m in the previous year, according to Crain's.

Debts due after more than one year climbed 148 per cent from £145,000 to £359,000.

The club incurred net losses of £414,000 during 2008, an improvement on the £537,000 loss made in 2007.

A statement in the accounts read: “The company is dependent on its shareholders for financial support which the directors are confident will continue for a period of at least another 12 months.”

Simon Corney, Oldham Athletic's co-owner, told Crain's in August the club had turned over around £5m in 2008. He also said he was anxious to sell off the club's current home, Boundary Park, to housing developers to enable the League One club to build a new £20m stadium on a site in Failsworth.

Corney said he believes the inclusion of restaurants, bars, conference and banqueting facilities and community facilities at a new stadium will help the club to become self-sufficient and help boost average attendances.

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