Wigan in Administration

Wigan battering Hull 8 nil has really put the cat amongst the pigeons because if they take away 12 points this season they are still favourites to survive ATM.

wanderlust wrote:Wigan battering Hull 8 nil has really put the cat amongst the pigeons because if they take away 12 points this season they are still favourites to survive ATM.

Wigan will stay up, they are miles better than the clubs down the bottom even with 12 points taken from them.

The club should never have been placed in Administration - they have no debts ffs!

Nothing, zilch, completely solvent.

The club (let's focus on that rather than the owner) had planned for a cash injection from the owner for cash flow purposes - but for whatever reason it never came and the owner it appears as simply walked away!

The business as far as I can tell, owns all the assets - ground, land stadium, etc and could easily have borrowed against those to solve their cashflow issue.

As far as I can tell they seem to be trading with a £9m deficiency which the owner has been covering (like what Eddie Davies used to do).

The season will end shortly and I expect some of the players will soon be out of contract and off the payroll.  

Anyone could buy the club out of Administration and fund the next couple of seasons trading deficits until they shed all their big earners.  The funding could come from within the club - sales of players (think £6m for Madine in a similar position for us) or the sale of assets (we had no assets free of charges to sell/put of for security against loans), or come from the new owners personal funds - if that's what he wanted to do.

The sale should be quick and straight forward as there are no creditors to settle with, no joint Administrators and no owner/former owner fighting over 'owed' monies to/from each other.

Wigan seemed to have sold a youth team player for £500k which will pay the players wages and possibly sell another player or two to fund the cost of the Administration process.

We (Bolton) on the other hand had an insolvent club, with many outstanding creditors and a toxic relationship with the owner at that time (KA) fuelled by greedy players wanting money from an empty pot and deciding to go on strike (with this being overarched all the time with Iles and the ST whipping up hatred towards Anderson and geeing up the social media braindead that followed them with little to no knowledge of how companies entering insolvency actually work).

Is it any wonder our Administration was about warring parties entrenching themselves to protect their positions with seemingly little love loss towards each other - and in Anderson's case - towards the supporter fanbase who had abused and threatened him so much by that time the police advised him and his family not to attend the club for fear of their own safety!

Wigan have no players with ill will towards the club/owner, who have not thrown their toys out of the pram/gone on strike/refused to get on the match bus/gone in to major strops, etc, etc and have simply applied themselves to the task in hand unlike our lot did.  Then again they didn't have the Wigan equivalent to Iles and the ST cheerleading for them against the clubs owner - nor it must be said a pisshead leader of the pack wanting everyone to go on strike like we had with Wheater.

Eight - nil against a club they might have been competing with to stay in the league says it all - our lot were too busy pissing it up at Fannys.

And don't forget, everyone of them still got every penny of their wages in the end!

Where are they now?

Wheater at Oldham, Ameobi has broken no pots at Forest, Andy Taylor couldn't find a club, the Polish bloke is at a division two Turkish side, Vela at Shrewsbury (failed at Hibbs).

Wouldn't want any of them in the trenches with me when push comes to shove!

Hey ho.

If Wigan players and staff haven’t missed a pay cheque, I don’t see how you can make a direct comparison between Wigan’s players behaviour and ours. It’s a pretty substantial difference in situation.

T.R.O.Y. wrote:If Wigan players and staff haven’t missed a pay cheque, I don’t see how you can make a direct comparison between Wigan’s players behaviour and ours. It’s a pretty substantial difference in situation.

The cashflow issue was to cover the players deferred wages that was falling due it was this that triggered the Administration although technically at the time the club had not defaulted on any payments - ie had no creditors outstanding.

From memory the players have since only received 20% of their wages (the sale of the youngster (Weir) to Brighton for a reported £500k, will resolve the issue.

So as far as the Wigan players were concerned before they kicked off last night, they were outstanding three months (I think it was) deferred wages and 80% of the current months as well.

They were always going to be paid in full no matter what because they are 'football' creditors and are the first creditors to be 'top sliced' and paid in the ranking priority, in order to exit Administration.

Exactly the same position BWFC players were in - ie guaranteed to be paid in full.

The circumstances and timescales may well be different but the end result was/is exactly the same namely the players whether they be from BWFC or WAFC - all KNEW they would be paid in full but one lot went on strike (twice I may add) and the others went out and won 8-0.

Fwiw Wheater was interviewed on video by Michela Wain (the Bolton woman who was on The Apprentice a year or two back) and 'happily' explained that he was behind the players strike because he thought it would 'force' Anderson to dip into his personal wealth in order to pay his and the other players wages.

He just laughed when it turned out he didn't and the strike was for nothing.

He was even asked if he thought he should have put the fans first and played to which he more or less said he cared more about his money than them!

Just completely the wrong attitude imo.

Fwiw he says he was owed two months wages at the time of the strike - Wigan players awaiting 3 months deferred wages and 80% of one months wage more or less add up to around a similar total of about 2 months outstanding wages.

Wigan players showed a completely different attitude in a comparable situation to the one Wheater and his mates were in!

Anyway water under the bridge now.

Sorry not following, had the Wigan players missed wages or not?

Thanks for posting Wheater video, interested to hear this actually what minutes are the comments you refer to? Imagine there’s a lot of dead air filling for 48 minutes!

T.R.O.Y. wrote:Sorry not following, had the Wigan players missed wages or not?

Thanks for posting Wheater video, interested to hear this actually what minutes are the comments you refer to? Imagine there’s a lot of dead air filling for 48 minutes!

They hadn't when the club went into Administration but they have since - and before last nights match.

About a year ago when I watched the video - iirc I even posted it up on Nuts at the time.

And if you think I'm going to watch it through all again just to find the times of the clips just for you - then you best think again!

Charlton's 92nd minute equaliser has put Wigan right back in the mix - it puts them on 46 if the penalty points are applied but with a much better GD than Hull and Luton who are playing each other right now. If either team wins they'll technically be out of the bottom 3 at Wigan's expense so a draw would be the best result for the pie eaters.

Just read that the EFL have applied the 12 point penalty with immediate effect which means that anything less than a win for Wigan tonight v Fulham sees them relegated.

Wigan bite the dust awaiting appeal

Sluffy wrote:

Wigan will stay up, they are miles better than the clubs down the bottom even with 12 points taken from them.

Or not.

wanderlust wrote:

Sluffy wrote:

Wigan will stay up, they are miles better than the clubs down the bottom even with 12 points taken from them.

Or not.

Hahahaha!

I got this one wrong you voted for Brexit!

I know of the two which is the biggest boo boo!

I was wondering if Wigan did manage to get a new owner before the appeal would the penalty still apply and it seems it has.

I think the penalty still has an asterisk at the side of it pending the appeal so I don’t think Barnsley can fully relax yet. Also, there are still potential penalties for Wednesday and Derby which if penalty points are administered could change the situation further. What a mess and once again final decisions to be made independently which could then be subject to appeal by the clubs or the EFL if they don’t like it.

Lisa Nandy's petition the Government to strengthen the football club ownership laws seems a good thing to sign up for although it's a bit late for Bury.

Sign Here

Discussions with their preferred bidder have broken down.

Boggersbelief wrote:Discussions with their preferred bidder have broken down.

I guess if a potential buyer thinks he's buying a Championship club and then finds he may be buying a L1 club it's bound to go tits up. Totally different risk/reward scenario - which is why FV deserve a bit of kudos for taking us on.

wanderlust wrote:

Boggersbelief wrote:Discussions with their preferred bidder have broken down.

I guess if a potential buyer thinks he's buying a Championship club and then finds he may be buying a L1 club it's bound to go tits up. Totally different risk/reward scenario - which is why FV deserve a bit of kudos for taking us on.

Doesn't seem to be for that reason apparently (and I'm sure all putting in an offer would have known the possibility of relegation in any event) -

No https://t.co/Eaa1ODD38x

— Alan Nixon (@reluctantnicko) July 24, 2020

I've found this that explains the background much better than I did -

Great to see @PrivateEyeNews all over the #WiganAth debacle (which stinks of money laundering to me).

This week's article sets out the issues beautifully.

These guys broke many a corrupt bastard. Lets add another scalp. pic.twitter.com/dcdbvSwjz5

— Paul Monaghan (@PaulJMonaghan) July 24, 2020

Wigan Athletic: Administrators to negotiate with second bidder after talks break down -

https://www.bbc.co.uk/sport/football/53530653

And while i'm at it........

good for Barnsley!

https://www.barnsleyfc.co.uk/news/2020/july/club-statement/