Paul Scholes has been cleared to become Oldham's new manager by the English Football League, Press Association Sport understands.
The EFL held a board meeting this week to ascertain whether there would be a conflict of interest as Scholes owns a 10 per cent stake in National League club Salford.
Scholes, 44, has made clear his intention to embark on a managerial career and has not ruled himself out of the running for the vacancy at Oldham.
Salford are currently second in the National League table, three points behind leaders Leyton Orient, and if they are promoted to the Football League for the first time they could be in direct competition with Sky Bet League Two side Oldham next season.
But the governing body has ruled Scholes' background interest at Salford – also part-owned by former Manchester United team-mates David Beckham, Nicky Butt plus Gary and Phil Neville – would not be an issue.
Prior to the EFL's decision there were concerns that if Scholes took on the Oldham job he would have to dispense with his stake in Salford, or place his shares into a Trust, if they were to win promotion.
Oldham sacked Frankie Bunn in December and academy coach Pete Wild has been in caretaker charge.
The Latics, without a league win since New Year's Day, are 15th in League Two, 11 points off the play-offs and 12 clear of relegation.
