Wigan’s administrators say the club have reached an agreement with a Spanish bidder to purchase the League One side.

The club were relegated from the Championship last season after receiving a 12-point penalty for entering administration in July.

Wigan’s administrators have reached an agreement with a “preferred bidder from Spain” to purchase the club.

Begbies Traynor confirmed a “substantial deposit” has been handed over, while the bid also includes a payment to creditors which means the Latics avoid a 15-point penalty in the ongoing campaign.

A statement on the club website said: “We are pleased to announce that we have reached agreement with a preferred bidder from Spain.

“The offer that has been accepted deals with not only the sale of the club but also allows the payment to non-football creditors to avoid the 15-point penalty this season.

“In addition, a substantial deposit has been received. We are now working with our lawyers and the bidder to produce all of the necessary paperwork to submit to the EFL so that successful transfer of the football share can be made at the earliest opportunity.

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“The preferred bidder who has experience in football has made it plain that they do not wish for their details to be made public until such time as the sale is completed and we are respecting this anonymity. No further details will be released until EFL approval has been obtained.”

Wigan made a disappointing start to the 2020/21 season, losing their opening two league fixtures, but claimed their first win of the campaign at Portsmouth on Saturday.