wessy wrote:I get confused with this ? (not hard) We sold Euxton to Huron Properties owned by Dave Whelan, he then sold Huron Properties. So does that mean that Wigan Athletic do not own our old training ground but are just tennants. Or could DW have sold Huron but not the training ground? Any ideas Sluffy ? And if Dave Whelan bought it was it ever owned by the football club. or is it owned by the Whelan family?
Don't worry mate these things can be highly complexed at times!
I'll simplify it the best I can.
Lets start of with an analogy to make it a bit easier to understand, imagine you work in a big company and you want to find your way around, you will find it easier if parts of it are split into different things such as sales, purchases, accounts, Human Resources, finance, etc.
The same things can happen in how various companies are linked together, for example BWFC stands as a company in its own right, as does the hotel (Bolton Whites), both of these in turn come under the control of Burnden Leisure, which itself comes under the ownership of FV.
So if you ask the question who owns BWFC, it is ultimately owned by FV.
However FV could sell off the Club to say Bolton Nuts Ltd owned by Natasha and I but still own the hotel and the stadium (depending if wasn't part of the sale) and all the land around it.
FV if they wanted could buy back Euxton, transfer its ownership to BWFC and include it in the sale of BWFC to Bolton Nuts!
Basically this is what happened at Wigan.
Whelan did own Huron (he's sold it on since) bought Euxton from Burnden Leisure then included in the sale of the club, the stadium and the holding/property company to the Chinese company that bought them - IEC
"The Whelan family is understood to have agreed a deal in principle to sell their majority stake in League One champions Wigan Athletic to a Hong Kong-based consortium.
The proposed takeover by International Entertainment Corporation
is subject to Hong Kong Stock Exchange and EFL approval.
The deal with IEC would also include a majority shareholding in the DW Stadium, as well as the club's training grounds at Christopher Park and Euxton
"As far as I'm aware the new company that bought Wigan also had included in the sale everything else including Euxton -
The takeover of Wigan Athletic has been completed by Next Leader Fund
, a limited partnership headed by Hong Kong businessman Au Yeung Wai Kay".https://www.bbc.co.uk/sport/football/44040868
Which if is the case as I believe to be means that it is now in the control of the Administrators who can sell it if they deem it to be in the best interests of the creditors the club is owing money too.
As I say it isn't easy to follow all that goes on at corporate level but in a nutshell Whelan bought Euxton with one of his companies and 'sold' it to another of his companies which was later bought by IEC
owned by Dr Stanley Choi (pictured below) who in turn set https://wiganathletic.com/news/2018/november/find-out-more-about-the-new-owners-of-wigan-athletic-football-club-international-entertainment-corporation/
up another company with Au Yeung Wai Kay called Next Leader Fund
, with Au Yeung taking overall control some weeks later and on the same day put Wigan into Administration -
The only public comment Au Yeung has made since taking the club into administration is a five-paragraph statement sent to the Wigan Observer on 7 July. -
All sorts of theories have been posited as to why the owner took the decision he did, but he says the financial impact of the Covid-19 outbreak was to blame.
"We bought Wigan Athletic with the best intentions: to create a team that would get the club back into the Premier League, and I have invested more than £40million (to buy it and repay a loan to former owners the International Entertainment Corporation).
"Unfortunately, the Covid-19 crisis has severely impacted people and businesses around the world - and Championship football clubs, which rely on fans coming through the turnstiles, are no exception.
"This has fundamentally undermined our ability to fund Wigan Athletic and, after struggling to find a solution, in the end took the difficult decision to put the club into administration to ensure its survival.
"The administrators are now doing everything they can to find a new owner who will secure the future of Wigan Athletic for the sake of the many thousands of devoted Latics fans, and the local community."
"Wigan Athletic is a wonderful football club with rich history and a passionate fanbase," Au Yeung said, in a statement exclusively released to Wigan Today.https://www.wigantoday.net/sport/football/exclusive-wigan-athletic-owner-au-yeung-wai-kay-defends-difficult-administration-decision-2906602
Au Yeung spoke to the Administrators just before the points appeal hearing though -
"The Hong Kong-based businessman put the club into administration on 1 July, weeks after buying them, but has given little public explanation as to why.
However, he responded to administrator Gerald Krasner's request for a 'virtual meeting', lasting more than an hour.
The details of that discussion remain confidential.But BBC Sport understands it answered many of the questions around the reasons for the Latics' plight and the information was used as part of Friday's appeal against the club's 12-point deduction".
So I hope that fully answers your question!