Wigan gone in to admin (1 Viewer)

[Sky Blue Harry H]

Also don't we want them to stay up? Am I correct that if they don't come out of admin or have certain arrangements in place before the next season starts there is another points deduction as well?

If they do stay up (or not), presumably they will have to accept offers for their players - as the administrators will want to accrue £££s for their creditors? Won't leave them in a very good position for the following season, so overall I guess we'd want them to stay up. Never liked them much, but harsh on their fans. Hong Kong owners?

 

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[Legia Sky Blue]

This does seem like brinkmanship by the 'new' owners, and slightly dubious. The fact they have done this the day after hitting 50 points, which is commonly deemed as the safety mark in a 46 game season, makes it look a tactical move more than anything. They are not going to get relegated as things stand, so it looks like they are banking on getting their points deduction this season, and as SBH points out, then counting on their team to survive even with a points deduction, whereby they can then start afresh in the Championship next season on level points.

 

[wingy]

Their owners only bought them 4 weeks ago !!

What kind of owners?

 

[Sky Blue Harry H]

What kind of owners?

That's what their fans are asking! Apparently someone in Hong Kong that has financed it through bank loans (if I read it correctly) Bit odd, as if only bought 4 weeks ago, this all looks like a pre-planned move? Dave Whelan won't be happy!
Having thought about it some more, a few clubs 'safe' but out of the running for play offs may be looking at this and wondering about following suit! It means your players would be touted for sale, but some owners might be happy to take a short term hit. Awful for clubs/fans, but we might just profit from it a bit next season.

 

[oldfiver]

What kind of owners?

Wigan go into administration four weeks after Hong Kong takeover

 

[mark82]

Would be farcical if they gave them a points deduction at the end of the season and they were still safe. Would essentially be no punishment.

 

[mark82]

EFL statement: Wigan Athletic

Looks like if they are not relegated this year deduction will be this year. If they are will be next year


Do they have any good players we could sign !

Wouldn't mind someone like Sam Morsy. Antonee Robinson is a really good player but destined for bigger things - was linked with AC Milan for big money in the last transfer window.

 

[no_loyalty]

EFL statement: Wigan Athletic

Looks like if they are not relegated this year deduction will be this year. If they are will be next year

Do they have any good players we could sign !

Chey Dunkley.

 

[thekidfromstrettoncamp]

Would be nice if someone more company minded (osb58) than me took a look at page 9 on Barnsley website Wigan item said to be from one of their own supporters(Wigan) states that a Doctor Stanley is the main buyer and seller how is that allowed by the EFL? Hope you can make sence not technically minded to bring the post up

 

[Legia Sky Blue]

Would be nice if someone more company minded (osb58) than me took a look at page 9 on Barnsley website Wigan item said to be from one of their own supporters(Wigan) states that a Doctor Stanley is the main buyer and seller how is that allowed by the EFL? Hope you can make sence not technically minded to bring the post up

I WARNED EVERYBODY

Hopefully works!

If this guy is right about what has happened, it is absolutely outrageous!!

 

[shepardo01]

Would be nice if someone more company minded (osb58) than me took a look at page 9 on Barnsley website Wigan item said to be from one of their own supporters(Wigan) states that a Doctor Stanley is the main buyer and seller how is that allowed by the EFL? Hope you can make sence not technically minded to bring the post up

Similar happened to us.
SBS&L - admin and brought out by otium entertainment (both fronted by SISU)....
Might not be that accurate but we were put into administration and then re-brougt by SISU just under a different company name

 

[thekidfromstrettoncamp]

Similar happened to us.
SBS&L - admin and brought out by otium entertainment (both fronted by SISU)....
Might not be that accurate but we were put into administration and then re-brougt by SISU just under a different company name

Didn't like that at the time neither.I really think the way many of these change of ownerships happen makes you wonder how anyone could possibly fail to be fit for owners charter.Another case is Newcastle and the PL in this case have not put a stop to their take over.

 

[thekidfromstrettoncamp]

Thanks Legia Sky Blues this old git can only hit a few keys and sometimes not in the right order.

 

[Saddlebrains]

Will be Sheffield Wednesday next

 

[pipkin73]

On the radio earlier they said the points deduction will be at the end of this season, so a few wins and they are safe. Similar to Leicester who done it to pay for the new ground (i think after what they done the rules changed). From that article Wigan could be 200k per week in arrears soon, so from the "NEW" owners point of view it makes sense. Next season could see many more follow suit, so a record low points total to be able to stay up. We might just stay up and with the extra years cash build on it and secure a place before building a promotion challenging team.

 

[Magwitch]

We will stay up anyway.

 

[Flying Fokker]

On the radio earlier they said the points deduction will be at the end of this season, so a few wins and they are safe. Similar to Leicester who done it to pay for the new ground (i think after what they done the rules changed). From that article Wigan could be 200k per week in arrears soon, so from the "NEW" owners point of view it makes sense. Next season could see many more follow suit, so a record low points total to be able to stay up. We might just stay up and with the extra years cash build on it and secure a place before building a promotion challenging team.

Leicester. Points deduction? When?

 

[Mcbean]

Thing is there are a lot of people saying on the efl thread that they should not be deducted points given the prevailing situation - for me we had no choice we lost points and the rules should be followed - there were a number of clubs running insolvently including Leicester and Portsmouth I believe but got away without sanction - can’t be one rule for one and not for another - appreciate it’s not the best for any club And there may be more but we took the pain and got over it !

 

[Covstu]

Leicester. Points deduction? When?

Exactly them fuckers got away with it, first and last to do it. Might be a different story on their success if they did

 

[Covstu]

Thing is there are a lot of people saying on the efl thread that they should not be deducted points given the prevailing situation - for me we had no choice we lost points and the rules should be followed - there were a number of clubs running insolvently including Leicester and Portsmouth I believe but got away without sanction - can’t be one rule for one and not for another - appreciate it’s not the best for any club And there may be more but we took the pain and got over it !

Agree, they got into this position by poor management and COVID has just tipped it over the edge. No doubt it’s having an impact on all clubs but you would have seen a lot more L1 and 2 clubs head in this direction before a club like Wigan. I think one area they may need to flex is putting in more measures prior to clubs going bust ala Bury.

 

[Evo1883]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">A thread: How Wigan Athletic have been victim to one of the greatest sporting scandals of all time.</p>&mdash; mark (@marksparko) <a href="">July 3, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>





Seems there is more to this than meets the eye potentially and its appalling

 

[eastwoodsdustman]

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">A thread: How Wigan Athletic have been victim to one of the greatest sporting scandals of all time.</p>&mdash; mark (@marksparko) <a href="">July 3, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>





Seems there is more to this than meets the eye potentially and its appalling

Read about this earlier. If it’s true then it’s shocking and the fa should defer the deduction just to stop the bet coming in

 

[Nick]

The relegation bet seems a bit extreme if true. It must be one hell of a bet?

 

[chiefdave]

The relegation bet seems a bit extreme if true. It must be one hell of a bet?

If you read his whole thread the face he later says there's no evidence of a bet is a bit of a hole in the claims!

 

[shepardo01]

Read about this earlier. If it’s true then it’s shocking and the fa should defer the deduction just to stop the bet coming in

All sentiment aside, should the FA/EFL not follow their own rules and let the authorities deal with what looks like a bet that is being influenced or fixed for a better word....

 

[Sky_Blue_Dreamer]

Well it once again makes a mockery of the fit and proper persons test if a few weeks after the test the club go into admin.

 

[Grendel]

So it seems this is going to be a lot lot more complicated than we thought!

 

[shepardo01]

.....imagine the celebration if we had been brought out by these.......
Only then a few weeks later.... something like this happens.
Better the devil you know!....

 

[oldfiver]

Wigan Warriors-led bid for Wigan Athletic revealed

WIGAN WARRIORS-LED BID FOR WIGAN ATHLETIC REVEALED
7 Jul 2020 North West Business, Deals

A consortium including the owner of rugby league giant Wigan Warriors is lining up a rescue deal for Wigan Athletic.

Paul Stanley, Gerald Krasner and Dean Watson from Begbies Traynor were appointed as administrators to the Latics on 1 July.

They currently sit 16th in the table after enjoying a good run of form.

Now, a consortium led by Wigan Warriors owner Ian Lenagan, alongside experienced finance executive Gary Speakman and Darryl Eales, a former chief executive of private equity investor LDC, has outlined plans to rescue the club.

"We strongly believe that Wigan Athletic is better being locally-owned," said the trio.

"As sustainability and ownership of the stadium is equally important to both clubs, we are currently working with our longstanding advisers KPMG and talking to external parties.

"Our intention is to identify other investors quickly and start due diligence on the football club with the intention of making a bid in due course. We have made the administrators aware of our interest and hope to explore this with them further over the days ahead."

They added: "Wigan Warriors and Wigan Athletic are both local sporting institutions and it is our belief that this is a unique opportunity here to bring the ownership of these two great clubs together under one roof, each operating independently as before, but under a Wigan Sporting Partnership banner.

"It is envisaged that each club would retain all its training grounds, management and facilities."

David Molyneux, leader of Wigan Council, has confirmed that the authority "would be very supportive of this initiative".

 

[oldskyblue58]

The EFL really do need a suitably experienced and professional department to look in to the disposals of clubs properly. Clearly what happens now is not up to the job. The checks on owners back grounds and financial means needs to be far more stringent. Prospective owners must be compelled to give all the information necessary. Switching clubs around in a group structure just should not be that easy and should be subject to the same checks as a 3rd party disposal. To go in to administration after 4 weeks frankly stinks. The EFL needs to be more active in monitoring clubs finances, in asking difficult questions, demanding proof and firm undertakings, the clubs need to provide the funding for the service. The EFL also need to say no more often.

Look at the 2019 financials for Wigan and it shows the football operation (two companies operating company & property company) made 10m+ in losses even after player sales near 7m. Losses have to be financed. There was between the two companies £1m in the bank. They had received in that year £10.6m loan from the ultimate parent company. Income in 2020 was not going to increase much (dont know if they had player sales or purchases to include from July 2019 havent checked). The majority of turnover comes from Premier League and EFL distributions so is pretty fixed. Wages would still be more than turnover so losses of at least £10m were to be expected to June 2020 in my opinion. Even before increased interest charges. Have only looked briefly, but the general scenario is similar in many clubs - it is how and by who it is exploited that is a problem.

I assume no one asked whether the parent company or other group companies actually had the funds to support such a cash demand of £10m this year and probably next year - i am guessing but i would think much of the market capitalisation of the ultimate parent company was made up of the amounts owed to it by the Wigan football operation. The football group simply didnt have the ability or the foreseeable prospect of paying that back - so the real market capitalisation is nothing like the figure quoted i would guess.

It is one thing having an owner like the Whelan family but quite another having an owner who has no affinity for the club and sees it as a means to play finance games.

There is another question - if the Whelan family did enough detailed due diligence on the new buyers in the first place ? That is not an accusation just a question, the Whelan family have been tremendously supportive of the club

What a mess and a lesson to many clubs and fans. Feel sorry for the Wigan fans.

 

[Grendel]

The EFL really do need a suitably experienced and professional department to look in to the disposals of clubs properly. Clearly what happens now is not up to the job. The checks on owners back grounds and financial means needs to be far more stringent. Prospective owners must be compelled to give all the information necessary. Switching clubs around in a group structure just should not be that easy and should be subject to the same checks as a 3rd party disposal. To go in to administration after 4 weeks frankly stinks. The EFL needs to be more active in monitoring clubs finances, in asking difficult questions, demanding proof and firm undertakings, the clubs need to provide the funding for the service. The EFL also need to say no more often.

Look at the 2019 financials for Wigan and it shows the football operation (two companies operating company & property company) made 10m+ in losses even after player sales near 7m. Losses have to be financed. There was between the two companies £1m in the bank. They had received in that year £10.6m loan from the ultimate parent company. Income in 2020 was not going to increase much (dont know if they had player sales or purchases to include from July 2019 havent checked). The majority of turnover comes from Premier League and EFL distributions so is pretty fixed. Wages would still be more than turnover so losses of at least £10m were to be expected to June 2020 in my opinion. Even before increased interest charges. Have only looked briefly, but the general scenario is similar in many clubs - it is how and by who it is exploited that is the problem.

I assume no one asked whether the parent company or other group companies actually had the funds to support such a cash demand of £10m this year and probably next year - i am guessing but i would think much of the market capitalisation of the ultimate parent company was made up of the amounts owed to it by the Wigan football operation. The football group simply didnt have the ability or the foreseeable prospect of paying that back - so the real market capitalisation is nothing like the figure quoted i would guess.

It is one thing having an owner like the Whelan family but quite another having an owner who has no affinity for the club and sees it as a means to play finance games.

There is another question - if the Whelan family did enough detailed due diligence on the new buyers in the first place ? That is not an accusation just a question, the Whelan family have been tremendously supportive of the club

What a mess and a lesson to many clubs and fans. Feel sorry for the Wigan fans.

Hasn’t there been a suggestion this is a big betting scandal thing?

 

[oldskyblue58]

Hasn’t there been a suggestion this is a big betting scandal thing?

yes but at this stage its rumour - the administrators are investigating apparently ............ dont hold your breath that they get to the bootom of it

 

[Nick]

Hill really needs to step up his Appleton game.

 

[Grendel]

yes but at this stage its rumour - the administrators are investigating apparently ............ dont hold your breath that they get to the bootom of it

A fan managed to record a conversation with Rick Parry and it doesn’t sound great

 

[Joy Division]

Wigan Warriors-led bid for Wigan Athletic revealed

WIGAN WARRIORS-LED BID FOR WIGAN ATHLETIC REVEALED
7 Jul 2020 North West Business, Deals

Now, a consortium led by Wigan Warriors owner Ian Lenagan, alongside experienced finance executive Gary Speakman and Darryl Eales, a former chief executive of private equity investor LDC, has outlined plans to rescue the club.

Darryl Eales is the current owner of Solihull Moors