US businessmen Randy Frankel and Michael Kalt in £5m bid to takeover stricken Wigan and save club from ruin

AMERICAN financiers Randy Frankel and Michael Kalt are ready to rescue crisis club Wigan Athletic.

The duo from Partners Path Capital are behind a £5million-plus offer to take the Latics out of administration.

The pair already own a chunk of Belgian side Oostende.

They are now working with chief executive Gauthier Ganaye to pull off the deal.

SunSport understands their offer tops the major rival - Wigan RL chief Ian Lenagan - and could be accepted in the next 24 hours.

Frankel, Kalt and Ganaye plan to develop Wigan and re-build it in League One, racing against the clock to be in place for the start of the new season.

Ganaye has huge experience at the level after a spell at Barnsley and he would work for BOTH clubs.

The late move comes as the administrators reveal they need a bid in place by the end of the month or Wigan could be in serious trouble.

An insider for the group revealed: "We are interested in the football side and believe we are the best bidder.

"We know other bidders want the properties that the club has, but we want to keep as much as we can together.

"It is a shame that players are leaving but we know what has happened and hope to get in and put a team together.";