And the managing director admits he now has "genuine fears" that the club may end up in a relegation scrap, although adding that he still had confidence in under-fire manager Dave Penney.
After a woeful run of one win in the last ten league games the Latics sit uncomfortably in League One's final relegation slot.
They have scored fewer goals (20) than anyone else in the division and face a crunch week with Millwall and Brentford visiting within seven days.
Wednesday's stalemate, in front of a paltry 3,688, was greeted with a chorus of boos at the final whistle while ironic cheers rang out from the hardy few when the home side mustered their first shot after half an hour.
Corney, one of three US-based businessmen who took over the club almost six years ago, says he shared the fans' pain.
"It was awful," he said. "I feel awful. That was the worst I have ever seen since we came here and I never thought this would happen but I am nervous about relegation now."
He also urged the players to "get their act together" before it is too late.
Immense
"With the exception of Sean Gregan, who has been immense this season, and Reuben Hazell, I can't praise any of them," he said. "On Wednesday we had things like five-yard passes going wrong and you have to ask where the urgency was.
"Where was the quality? A lot of these players were here last season and that didn't happen.
"Some of them need to realise that if they don't get their act together they will be playing in League Two."
Corney dismissed claims that Penney, brought in from Darlington at the end of last season, was working on a smaller budget than his predecessor, John Sheridan. He said: "I can categorically say that, given the money we've spent on players this season, it's higher. There are teams with bigger budgets in the division, but it's certainly not a bottom-four budget."
But Corney believes Penney can still drag the club out of the mire, saying: "I still have confidence in Dave and he still has my support. He's a decent, hard-working guy and I think he can turn it around. But it needs to happen soon."
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Observer,, Little Owdham ! (22/01/2010 at 12:03)
He is right to make the statement that "we don't have smaller budgets etc".... quite clearly from the number of players we have around the club, some it appears as yet unknown to Mr Penney and his staff, we've had the farce of Chris O'Grady "certainly coming back at the end of his loan spell at Rochdale"... only to end up being virtually given away for another paltry fee, where else can any club get an in-form - redhot - striker for £85k ...? nowhere, ooops... sorry ! oh yes Boundary Park.
We've then had the further disgraceful treatment of Dale Stephens for almost two seasons, left in the doldrums wondering what he had done wrong, only to get into the Penney team because he'd run out of fit players and for no other reason, then to turn in fantastic performances and end up as "Player of the Month" for December. WELL DONE DALE - THE FANS KNOW HOW CAPABLE YOU ARE.
There are dozens of other instances which the fans are aware, sadly Mr Penney has turned into another Ronnie Moore....negative, boring, at times clueless football, perhaps frightened ?... who knows, with some players quite clearly not bothered if they play or not, as they get paid regardless.
Sorry to say it Mr Corney, you have failed again as Manager selectors - this is yet another one basking in his past glories - lets be honest what glories ?... promotion with Darlington ...hhhmmmm.
There is only one person who, given the full support and backing that you've given to Talbot, Moore, Sheridan and now Penney over the last 5 or 6 years - and that's Andy Ritchie, though there may be some opposition from fans who don't really know anything about him, the facts remain he was doing a great job under considerable strain, stress and restrictions of a Chairman who was hardly at the club or really interested in what went on at BP....in fact by the sound of it and recent events that involve his Torex Company.... it's more than likely the £4.5 million he left in OAFC was not his to actually leave ?.... Oh dear whatever next ?
The "BOUNDARY PARK SAGA "....continues into yet another miserable season, each of the last 4 or 5 have started with great hope and turned into yet another fairy tale.....by Grimm !
Fairy Tales at Boundary Park.....? yes maybe, but that's something for another day - The Manchester Evening News does not have enough available space.