Manager Dave Penney says changing financial circumstances paved the way for Sean Gregan's return to Boundary Park.

The 35-year-old defender - Latics' regular captain last season - was released in May but impressed both Penney and former boss Joe Royle.

"I'm glad to have Sean back," said Penney, who is hoping to tie up further signings before the end of the week.

"Finances dictated that we had to release him in May.  Clubs are cutting their cloth in the current climate and to be fair to Sean he's had to do that as well.

"We know Sean ended the season well last time around and he certainly wasn't released for footballing reasons - it was more financial.

"I knew Sean was out there looking for a club and I think this is the right club for him.  He deserves his contract and I'm looking forward to working with him."