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'Challenging times' as Oldham Athletic reveal losses

align=justify>Npower League One side Oldham Athletic has announced losses of £1.5m for the year ending December 2009.

The figure has increased from £414,000 for the previous year for the Latics.  Matchday and commercial revenue both decreased reducing turnover by £277,000 to £3.260m.

At December 31st 2009, the club's net current liabilities stood at £4.630million compared to £3.570million 12 months earlier.

Commenting on the club’s official site, chairman Simon Corney said:  "We are not alone and Football League clubs in general is struggling - just look at the attendances last weekend at Hartlepool, Rochdale and Walsall.

"People talk about the have and have nots in the Premier League in terms of Manchester United and City compared to Bolton and Blackburn.

"We also have them in our division with the likes of Sheffield Wednesday and Charlton spending three times as much as we are doing which makes life harder and harder."

Mr Corney added that the club is aiming to relocate to a new stadium in Failsworth which it is hoped will provide increased revenue streams.

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