Dave Whelan has resigned as chairman of Wigan saying that advancing age and increasing commitments abroad means “it is time to hand over the reins”.

The decision comes three months after he promised to quit his position if found guilty of racism by the Football Association.

Mr Whelan, who remains club owner but will not be involved in its day-to-day running, was banned for six weeks and fined £50,000 in December for comments he made about Jews and Chinese people.

In a statement posted on the club’s website on Tuesday, the chairman of 20 years said his grandson David Sharpe would take over.

Mr Whelan wrote: “The time has now come to hand over the reins. I am approaching 80 years old and spend an increasingly long time abroad, and cannot make it to games. It is a decision I have been mulling over for some years and I believe David is now ready.”

The FA’s Regulatory Commission said in its report on the case that Mr Whelan “is not a racist” and “did not intend to cause any offence by his comments.”

The chairman accepted the charges against him, but disputed saying that Jews are “very shrewd people” and that they “chase money more than everybody else,” both of which the FA found he had said.