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Bolton Nuts » BWFC » Wandering Minds » Wigan in Administration

Wigan in Administration

+21
Growler
Sluffy
Ten Bobsworth
xmiles
okocha
Cajunboy
finlaymcdanger
Banks of the Croal
sunlight
gloswhite
MartinBWFC
luckyPeterpiper
BoltonTillIDie
wessy
boltonbonce
Norpig
wanderlust
observer
RangersDave
Boggersbelief
Bollotom2014
25 posters

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621Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 06 2021, 22:24

finlaymcdanger

finlaymcdanger
Frank Worthington
Frank Worthington

boltonbonce wrote:What the hell has happened to America, might be a good thread. Chaos in Washington at the moment, and shots fired on the House floor. Unbelievable. 
Trump will have blood on his hands.
He’s already responsible for many deaths in addition to the shooting today. He actively encouraged this shit show this morning and hasn’t condemned it.
I hope Biden has some serious security around him.

622Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 06 2021, 22:26

Ten Bobsworth


Frank Worthington
Frank Worthington

finlaymcdanger wrote:I should also say that I think Sluffy and Tenbob should be able to natter about whatever they like without being targeted for it. If you don’t like it, go for a wank.
What? Allowed to comment on football/BWFC finances? I can't believe what I'm reading, you cannot be serious. Are you some kind of revolutionary? 

Twenty years solitary, pal, if there's any more of that stuff. Think yourself lucky and mind how you go.



Last edited by Ten Bobsworth on Thu Jan 07 2021, 09:41; edited 1 time in total

623Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 06 2021, 22:51

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse

Yes, keep going. The Ena Sharples and Minnie Caldwell of Nuts. I'm an Albert Tatlock man myself.
Wigan in Administration - Page 32 EA1JjtPWkAEEA6t

624Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 06 2021, 22:56

xmiles

xmiles
Jay Jay Okocha
Jay Jay Okocha

Sluffy wrote:

I will however state the facts and wherever I can provide links to them

You clearly have a major issue about being proved wrong


Your lack of self awareness and hypocrisy is breathtaking.

You claim to state the facts and provide evidence to back them up yet you have never produced a shred of evidence to support your delusion that this is a fake account.

You are the person that has a problem with being proved wrong. That is the reason you banned me the first time. There was no abuse. I simply showed you were wrong and as a result you banned me.

And your pettiness continues with the ongoing ban on me using the pm facility.

625Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 06 2021, 23:01

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse

Hi Miles, didn't know you were still being denied the pm facility. Should be reinstated pronto. What the hell do they think you're up to. Planning a coup?
Nat's a fake account anyway. I have it on good authority she's a man. affraid

626Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 06 2021, 23:05

xmiles

xmiles
Jay Jay Okocha
Jay Jay Okocha

boltonbonce wrote:Hi Miles, didn't know you were still being denied the pm facility. Should be reinstated pronto. What the hell do they think you're up to. Planning a coup?
Nat's a fake account anyway. I have it on good authority she's a man. affraid

Yes I don't even know what my alleged crime is.

Surely he can't read our pm's can he. Smile

627Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 06 2021, 23:09

boltonbonce

boltonbonce
Nat Lofthouse
Nat Lofthouse

xmiles wrote:

Yes I don't even know what my alleged crime is.

Surely he can't read our pm's can he. Smile
Breadman always believed they could. I'm not so sure. pirat

628Wigan in Administration - Page 32 Empty Re: Wigan in Administration Thu Jan 07 2021, 01:50

observer


Andy Walker
Andy Walker

finlaymcdanger wrote:
He’s already responsible for many deaths in addition to the shooting today. He actively encouraged this shit show this morning and hasn’t condemned it.
I hope Biden has some serious security around him.
In fact, Biden is dumping Trump's Secret Service protectors for his own when he was Vice-President... trusts them and does not trust anyone who was near Trump.

629Wigan in Administration - Page 32 Empty Re: Wigan in Administration Thu Jan 07 2021, 08:16

xmiles

xmiles
Jay Jay Okocha
Jay Jay Okocha

observer wrote:
In fact, Biden is dumping Trump's Secret Service protectors for his own when he was Vice-President... trusts them and does not trust anyone who was near Trump.

A sensible move given how easy it was for the Trump nutters to get in yesterday.

630Wigan in Administration - Page 32 Empty Re: Wigan in Administration Sun Jan 10 2021, 13:09

Sluffy

Sluffy
Admin

From Nixon -

Wigan in Administration - Page 32 ErXVPluXUAMX-na?format=jpg&name=large

631Wigan in Administration - Page 32 Empty Re: Wigan in Administration Sun Jan 10 2021, 15:09

luckyPeterpiper

luckyPeterpiper
Ivan Campo
Ivan Campo

I'm not sure the EFL would allow any deal to go ahead in which Loggenberg is a player even if his only role is to 'facilitate' matters. Frankly I think Wigan, like so many other clubs in the North West including ourselves are living on borrowed time even if a deal is done. There are just too many clubs here and not enough supporters available to make them all financially viable in the long term. I've said and continue to believe that eventually some of us are going to have no choice but to merge with local 'rivals' if we are to survive. That's nothing to do with the pandemic, it's been blatantly obvious for decades that most fans are not interested in turning out and watching a league one or two team if they can watch the likes of Man Utd and Liverpool from their own home. Add in the massive gaps in revenue from all sources and it becomes even more starkly clear that the days of local teams being able to compete are long gone and they're not coming back. Sad but true imo.

632Wigan in Administration - Page 32 Empty Re: Wigan in Administration Sun Jan 17 2021, 09:32

Ten Bobsworth


Frank Worthington
Frank Worthington

Can't say I've been following the Wiggin saga a lot but I see I that I posted this in November 2018.

Can't blame him (Ken Anderson) for what happened this morning either. Hope the negotiations for a sale of his shares are progressing a bit better and that there's a positive result before Christmas.

Looks btw that Wiggin are now run by Joe Royle, his son and a Hong Kong solicitor. Be interesting to see how that works out

633Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 20 2021, 12:38

Sluffy

Sluffy
Admin

It's all happening at Wigan...

...and it all seems to be bad!

Let me set the scene, the Admin had seen to go all in on an offer from a Spanish consortium that clearly right from the start had at least one questionable person associated with it who seemed unlikely to pass the EFL Fit and Proper Person test and so it proved. What was worse though was that it clearly seemed this bloke was the lead player in the bid and if he dropped out the consortium would too - guess what they did - so that was the end of that.

Another rival group led by an ex pat Wiganer called Frampton claimed he had got in first for the club before the Spanish but the Admin had frozen him out!

He claimed some utterly bizarre scheme whereby he would build hospitals and schools in Wigan and whatever else the community needed and the revenue surplus from running these would finance the football club.

Amazingly when the Spanish walked away this bid appeared to be the next best runner with almost all of the Wigan fans believing it would succeed - they must be the most deluded fans in the world I guess because clearly why would anyone want to spent absolute millions to build hospitals and schools to prop up a football club??? Doesn't make any rational sense does it?

Anyway, reports last night are that Frampton has now walked away.

Wigan's Marc Iles equivalent confirming it here -



If things aren't bad enough for the Wigan fans the Administrators have issued a Creditors Report.

It's being processed at Companies House - check the link because it might have been done by the time others read this -

https://find-and-update.company-information.service.gov.uk/company/00270043/filing-history

...but this person 'claims' this is what it contains including a 30% 'uplift' in Administrators fees - which if true has really incensed the Wigan fans!



...and this man -



...and this one too!





Hard to see where this will end as Admin and Nixon claim there are plenty others interested in buying the club but what exactly is there left to buy and why would anyone want to spend millions to do so?

As I understand it the only assets the club has is a stadium they can't fill and runs at a loss and a bunch of talented kids - but have they got enough of them to cover the £3m sale price and estimated £5m running costs for the next two years?

It is claimed by the Admin that 'add ons' from players they have already sold to keep Wigan going will bring in several millions but can the club survive until then AND will those players ever actually 'trigger' these add on deals?

All looks like a massive car crash is about to happen to me.

Things need to be sorted soon otherwise there's not going to be any money left for the club to keep trading.

I'll stick with my original thinking that the Supporters Group will with help from the Council and the rugby club come together to strike some deal to keep the club alive but that may have to be as a non league club.

Grim times for them.

634Wigan in Administration - Page 32 Empty money out the door Wed Jan 20 2021, 12:55

RangersDave

RangersDave
Mario Jardel
Mario Jardel

Great report Sluffy,

However, the fire sale now has to ramp up at Wigan because no one is going to pay for a club and ground that is lost so much money, needs £xxx to just take over the club, plus its losing £10k per week just in running costs (i think this is way too low anyway, and more like £250k per week for staff, players, ground and maintenance etc).

Add that to the 1/3'd you reported, and 2 failed bids. It will have peeps running in the other direction, not investing, unless they can get the 'package' for around £1.5m or less, plus still show the have nearly £10m in the bank to satisfy the powers that be.

For any club looking on, now is the time to feast on the carcass of whats left i'm afraid.

Oh, and i forgot the loan from the Football League of around £300k too.

635Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 20 2021, 14:59

Ten Bobsworth


Frank Worthington
Frank Worthington

I strongly suspect that Maguire is not comparing like with like on administrators fees. But didn't Eddie Davies avoid administration, with all its attendant risks, problems and costs, by choosing to give Ken Anderson the chance to see if he could pull off what Eddie had been unable to do over the previous five years or so?

And didn't Anderson make a charge of £525K for halting the slide on an exceedingly slippery slope and helping get the club back into the Championship? And didn't that £525K prove beyond all reasonable doubt how big a rogue Anderson was, even though £60K was never paid out and the rest of the money went to Holdsworth and the liquidators of Holdsworth's Sports Shield BWFC?

Do you think, Sluffy, that Maguire (or anyone else for that matter) has ever grasped any of this?

636Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 20 2021, 15:51

Sluffy

Sluffy
Admin

Ten Bobsworth wrote:I strongly suspect that Maguire is not comparing like with like on administrators fees. But didn't Eddie Davies avoid administration, with all its attendant risks, problems and costs, by choosing to give Ken Anderson the chance to see if he could pull off what Eddie had been unable to do over the previous five years or so?

And didn't Anderson make a charge of £525K for halting the slide on an exceedingly slippery slope and helping get the club back into the Championship? And didn't that £525K prove beyond all reasonable doubt how big a rogue Anderson was, even though £60K was never paid out and the rest of the money went to Holdsworth and the liquidators of Holdsworth's Sports Shield BWFC?

Do you think, Sluffy, that Maguire (or anyone else for that matter) has ever grasped any of this?

I suspect very few people not in the know about what was going on had much interest and if I recall correctly wasn't Maguire one of the loudest voices and biggest influencers, as to the hatred of Anderson when the accounts showed the payment to him and strongly implied that he had pocketed the money to enrich himself!

Fair play to your knowledge and professionalism to be able to see deeper into it than anyone else (certainly anyone I've seen on social media) and explain things to anyone who would listen, of which there was very few indeed.

I've no experience with insolvency practitioners charges but I would assume they are like everyone else offering a service in a competitive market, that you pays your money and takes your choice of which one you want and at what charges you agree with them.  People don't always buy the cheapest cornflakes or bog roll on offer so why does Maguire think everyone should pick the cheapest insolvency company?

Also I've quoted potential clients high for my services for jobs I don't particularly want to take on, so maybe Begbies knowing they had to do a great deal of work in an extremely short timeframe when the plug was pulled by Wigan's owners, did something similar and if so who could blame them for that?

The fact they seemed to have made a bit of a pigs ear about it since is somewhat incidental to the initial agreed price between the two sides.

As for Wigan apart from the supporters group I find it hard to believe they will find any potential new owners now who would have any long term plans for the club and are firmly in Bassini type territory.

Thank goodness we have FV although even they must now be feeling the financial chill and still have the outstanding creditors from the sale to settle.

637Wigan in Administration - Page 32 Empty Re: Wigan in Administration Wed Jan 20 2021, 21:38

Ten Bobsworth


Frank Worthington
Frank Worthington

Sluffy wrote:

I suspect very few people not in the know about what was going on had much interest and if I recall correctly wasn't Maguire one of the loudest voices and biggest influencers, as to the hatred of Anderson when the accounts showed the payment to him and strongly implied that he had pocketed the money to enrich himself!

Fair play to your knowledge and professionalism to be able to see deeper into it than anyone else (certainly anyone I've seen on social media) and explain things to anyone who would listen, of which there was very few indeed.

I've no experience with insolvency practitioners charges but I would assume they are like everyone else offering a service in a competitive market, that you pays your money and takes your choice of which one you want and at what charges you agree with them.  People don't always buy the cheapest cornflakes or bog roll on offer so why does Maguire think everyone should pick the cheapest insolvency company?

Also I've quoted potential clients high for my services for jobs I don't particularly want to take on, so maybe Begbies knowing they had to do a great deal of work in an extremely short timeframe when the plug was pulled by Wigan's owners, did something similar and if so who could blame them for that?

The fact they seemed to have made a bit of a pigs ear about it since is somewhat incidental to the initial agreed price between the two sides.

As for Wigan apart from the supporters group I find it hard to believe they will find any potential new owners now who would have any long term plans for the club and are firmly in Bassini type territory.

Thank goodness we have FV although even they must now be feeling the financial chill and still have the outstanding creditors from the sale to settle.
Maguire was just one of many, Sluffy, but the misinformation started long before him, before Anderson and before the lynch mob mentality took over completely. And I'm afraid it hasn't gone away at all but is presently lying dormant awaiting the next eruption. 

How did it come to that? I think that's interesting but the Nutters prefer to talk about mind numbing trivialities. I have noticed that there is a common thread but each to their own, I suppose.

638Wigan in Administration - Page 32 Empty Re: Wigan in Administration Fri Jan 22 2021, 00:45

Sluffy

Sluffy
Admin

For anyone interested the Administrators report is now available at Companies House -

https://find-and-update.company-information.service.gov.uk/company/00270043/filing-history

I've skimmed through it but haven't bothered looking into it in any detail as such, although one thing did stick out to me as being odd (or maybe I've not gone into it deeply enough?) and that was the statement that the Administrators had still NOT verified all the unsecured creditors claims???

See Section 9, Assets that remain to be realised and work that remains to be done. (Page 24 of 39).

The Administrators seem to have be suggesting away from this report that any purchaser pays £3m for the club and remaining assets to cover the unsecured creditors at 25p in the £, OR just £1.5m for the club and remaining assets and NOT cover the unsecured creditors and thus incur a further 15 points penalty.

So on one hand they are saying unsecured creditors total £1.5m at 25p in the £ and in the report say the haven't actually verified any unsecured creditors claims yet?

I guess they probably have a fair idea of the amount but on the face of it they are quoting a sale price that may be well above or well below the actual amount required to settle all the verified unsecured creditors claims.

They have had over six months to do so and it is a job that will need to be done, so why hasn't it been done and why are they quoting a sale amount that includes the settlement of all unsecured creditors when they don't seem to actually know the precise amount themselves?

Anyway, the Administrators are giving a weekly update tomorrow (Friday) so let's wait to see what they say.

639Wigan in Administration - Page 32 Empty Re: Wigan in Administration Fri Jan 22 2021, 08:48

Norpig

Norpig
Nat Lofthouse
Nat Lofthouse



How did it come to that? I think that's interesting but the Nutters prefer to talk about mind numbing trivialities. I have noticed that there is a common thread but each to their own, I suppose.
Well you can always post elsewhere if you find us so boring. Your Vince thread is possibly the most pointless and boring thread i've ever had the misfortune to read though.

640Wigan in Administration - Page 32 Empty Re: Wigan in Administration Fri Jan 22 2021, 08:53

Ten Bobsworth


Frank Worthington
Frank Worthington

Norpig wrote:
Well you can always post elsewhere if you find us so boring. Your Vince thread is possibly the most pointless and boring thread i've ever had the misfortune to read though.
Half-witted pea-brains whose bell seldom rings


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