According to the Daily Mirror, Hughes who served half of a six year jail sentence for causing death by dangerous driving had Oldham boss John Sheridan in a headlock at Belle Vue Dogs on Tuesday night.
This the paper claims was the second fight of the night that Oldham players had been involved with.
Oldham have issued the following statement: "The incidents which occurred last Tuesday are certainly disturbing and the Board of Directors are conducting a full investigation.
"If anyone is found to have been acting inappropriately, thus bringing the club into disrepute, then I would expect the strongest possible action to be taken. "We cannot discount sacking in this respect."
Mirror storyhttp://www.mirror.co.uk/sport/football/2009/03/09/oldham-s-lee-hughes-fights-with-manager-john-sheridan-on-boozy-night-out-115875-21183186/