Chairman Chris Hamilton today vowed to battle on despite the setback and will keep the Rugby Football League in Leeds informed of developments.
Hamilton told M.E.N. Sport: "The clock is ticking - we face a real fight but we will continue doing everything in our power to keep professional rugby league alive in Oldham.
"It is a very big blow to have had CBA proposals rejected and I must stress we will again gladly speak to any potential new investor who is out there and possibly keen to offer help.
"This has always been the case and I've always made it quite clear that we would welcome a takeover if it's in the club's best interests and it can take Oldham forward."
Hamilton has revealed that Roughyeds' Challenge Cup defeat by York was a huge blow financially.
York's reward is a trip to Super League high-flyers Saints and they can look forward to a good pay day from shared receipts.
Hamilton said: "A match like this would have been ideal but we made too many errors and we got beaten - it's now up to us to try to battle on." Tweet
Comments
Login or Register to comment
Why has this been allowed to happen again at Oldham? Did they not learn from collapse of the Roughyeds? How can an accountant - Hamilton - not realise that he needs to pay the taxman like everyone else? And isn't it time that some of our Labour stronghold safe seat merchants around Greater Manchester's Local Authorities started to get a grip and help, as has happened in Yorkshire?