Whelan is keen to ensure that his family will not lose a fortune keeping the Latics going.
The Latics chairman could get up to £40million for the club.
Whelan said: “It would be unfair of me to pass the club to my grandchildren. I have been paying in more than £100million and I can’t put them in a position where they have to put money in.
“That is exactly what has happened at Blackburn.”
