Club Finances and Possible Future

The Egg,

Its other people who keep mentioning Barclays…..

Although I think it’s fairly common knowledge they handle our finances. I think Whelan said as much in his book.

And no, I don’t know a single person who works for Barclays. I’ve a mate who works at Asda, a mate who drives a van, and a mate who wipes arses for a living. Neither of them care one jot about LATICS. Other friends live further away and are even less interested. One is a wine connoisseur, one is a millionaire. One is a water sports instructor in Queensland. It’s just amazing what you pick up off people you talk to off wigan boards and pages. And people who have contacts within the inner sanctum. And no, I can categorically say and make clear that it’s certainly NOT Jason who has said anything. He wouldn’t. Just want to make that totally clear. And I wouldn’t ask and put him in that position anyway.

The club don’t help though with all the secrecy. It would be nice if the supporters were told a bit more about who is going to come in and the effect it will have.

The Egg,

Its other people who keep mentioning Barclays…..

Although I think it’s fairly common knowledge they handle our finances. I think Whelan said as much in his book.

And no, I don’t know a single person who works for Barclays. I’ve a mate who works at Asda, a mate who drives a van, and a mate who wipes arses for a living. Neither of them care one jot about LATICS. Other friends live further away and are even less interested. One is a wine connoisseur, one is a millionaire. One is a water sports instructor in Queensland. It’s just amazing what you pick up off people you talk to off wigan boards and pages. And people who have contacts within the inner sanctum. And no, I can categorically say and make clear that it’s certainly NOT Jason who has said anything. He wouldn’t. Just want to make that totally clear. And I wouldn’t ask and put him in that position anyway.

The club don’t help though with all the secrecy. It would be nice if the supporters were told a bit more about who is going to come in and the effect it will have.

You have mentioned our finances with Barclays a few times Vat. A bit naughty of whoever it is that works there that has said it as Stu says.

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Personally, I have mixed feelings about the takeover. Whether people like Whelan or not (why you wouldn’t as a Latics fan is a mystery) he has put this club into a good position. Very limited debt (and all to him anyway), great facilities and punching well above our weight.

I don’t think he would sell to anyone, but how many foreign takeovers have worked over the years? These guys could come in and take us to the Prem and get back their investment immediately but then what happens? Do they take the money and run leaving us with high wage bills and no income? If we don’t make the Prem after they spend a pretty penny then will they just leave again leaving us with a high wage bill and no income? It’s a catch 22 I think. If they come in with the mentality of the guys at City and decide to build the club from the ground up then we could be in for another brilliant ride.

And that’s not even a little bit dodgy…..

The Egg,

Its other people who keep mentioning Barclays…..
P

Had a debate elsewhere recently about the financial position of our club and what the future might look like. Some of you maybe interested in what I found –

Starting with the facts. The below relates to the 15/16 season when we were promoted from League 1 (Last set of published figures).

Turnover – £15.7m (This turnover includes £12m in Parachute Payments :( )

Salary Costs – £11.9m

Transfers – £2.0m profit made

Overall loss made – -£2.3m

Below is an assumption of what the financial figures will be for this season (17/18) by using the figures from the last time we were in this League (Less the parachute payments)

Turnover – £3.7m

Salary costs – £10m (Assumed a small reduction but could be higher, Powell, Morsy, Grigg will be on decent wages)

Transfers – I’m going to ignore any profit made from players sales because the club cannot rely on having a 6/7m Yanic Wildschute to sell every season.

Overal loss of – £6-7mill (Surprisingly a similar figure we received for yanic)

To Summarise

– Current wage budget maintained due to Yanic money. Squad would look a lot different from the one you see today if he wasn’t sold in January

– Failure to get promoted back to the Championship will result in the squad being broken up and wage bill reduced to around the 4million mark (a 60% reduction). Alternatively, the club rack up debts of about 6/7mill a year.

– Being in the championship worth about £8mill extra a year to our club (Heard Jonathan Jackson say this once). Essential that we get promoted to have a chance of keeping the likes of Morsy, Grigg, Powell, etc.

– Parachute Payments may have stopped, but we are still benefitting from the effects of the investments made with the premier league money. Yanic being one of those investments. This wont last.

I’ve obviously made a lot of assumptions above. Feel free to correct me.