Wigan Athletic have gone into administration, the club has confirmed.
The Championship side are the first English professional club to do so since the coronavirus pandemic began.
They have struggled to manage their finances and will now likely be deducted points.
Paul Stanley, Gerald Krasner and Dean Watson of Begbies Traynor have been appointed as joint administrators.
Krasner said: ‘Our immediate objectives are to ensure the club completes all its fixtures this season and to urgently find interested parties to save Wigan Athletic and the jobs of the people who work for the club.
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‘Obviously the suspension of the Championship season due to Covid-19 has had a significant impact on the recent fortunes of the club.
‘Wigan Athletic has been a focal point and source of pride for the town since 1932 and anyone who is interested in buying this historic sporting institution should contact the joint administrators directly.’
Stanley added: ‘We understand that everybody connected with the club and the wider football world is seeking clarity on the future of Wigan Athletic.
‘That’s exactly what we are seeking to provide as we move through this process and we seek out interested parties to rescue this famous old club here in the region.
‘It is a fast-moving situation and we will provide updates on key developments.’
Until 2018, The Latics were owned by Dave Whelan, who had taken the club from the fourth tier of English football to the Premier League, while they won the FA Cup in 2013.
Whelan sold the club to Hong Kong-based International Entertainment Corporation in November 2018.
The club are in good form since the restart, winning all three of their league matches since 20 June and currently sit 14th, eight points above the relegation zone.
However, they face a 12-point deduction, which would see them fall to the bottom of the table, four points from safety with six matches to play.