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It’s a fair point Roy, but no other team I think has come close to our lost points tally of 31….had we retained just half of those points …we would be in (or just off) a play off spot.
The new owners would have been fully aware of these potential losses when taking over the football club. So i don’t expect any kneejerk reactions from the owners.
I obviously didn’t factor in the fact that our owners were crooks all along.
I love it. Whelan doing what is best.
If he passed away as club owner, Barclays would immediately call in the debts…the loans Whelan took out for the club and which he has been guarantor for. It could put Wigan in serious trouble. Apparently Barclays risk management team has us on the ‘at risk’ list.
This takeover will do away with that possibility. The Football League has learned a lot from previous foreign investments and takeovers, with thorough testing and examining if diligence.Some on the comments in this thread are so depressingly inaccurate you cant help but laugh.
I can see now why Whelan wanted out, as those losses would be unsustainable for a man with his wealth.If he had stayed and we continued to lose £7M a year his fortune would only have lasted him until he was 130 years old.
So there’s no reason he cant come back now?
Quote:
“The Football League has learned a lot from previous foreign investments and takeovers, with thorough testing and examining if diligence”.
You spout off out ppl been so inaccurate on here what’s more fcukin inaccurate than that load of bollox you wrote?.
If they were we wouldnt be in the shit we are !!!
Guy buys club with 8% loan rising to 20% in the middle of a pandemic and little to no income. Then some unknown Choi now claims he didn’t know jumps in with probably more Cayman isle stinking money takes over and folds the club ?.
EFL Diligence!?? seriously? ffs m8 I think you need call it a day with crap like thatAnd as for your remark,
“Some on the comments in this thread are so depressingly inaccurate you cant help but laugh.”
I I’m still scraping the cornies off the wall I laughed that much
Done over by crooks simple as. Will we ever get the truth ? who knows. We all hope the administrators finds us a suitable buyer and the cowards at the Efl recind the ridiculous 12 pt theft. I’m sure everyone behind the scenes are squirrelling away to find a resolution.All we can do is wait ,hope and pray we can accumulate enough pts to make the -12 null and void. Now that would be some achievement. Still amazed the bent going on at Wednesday still awaiting punishment,what an absolute shambolic organisation the Efl is .
@R_P_McMurphy
Quote: “The Football League has learned a lot from previous foreign investments and takeovers, with thorough testing and examining if diligence”. You spout off out ppl been so inaccurate on here what’s more fcukin inaccurate than that load of bollox you wrote?. If they were we wouldnt be in the shit we are !!! Guy buys club with 8% loan rising to 20% in the middle of a pandemic and little to no income. Then some unknown Choi now claims he didn’t know jumps in with probably more Cayman isle stinking money takes over and folds the club ?. EFL Diligence!?? seriously? ffs m8 I think you need call it a day with crap like thatI will expect a full apology once you realise that VAT69 said that. Not me.
Can you make the apology in a new thread on the messageboard? Just so it doesn’t get lost within this thread. Thanks.
My apologies,
New thread ? I’ll fly a flag from the Parish Church if you ask nicely,On the subject of finances,
If Choi took an 8% loan out to the tune of £41 million to pay off the £24 million the IEC paid,
Who is the loan company we owe ?,
Who over valued the club by around £17 million?.
This is the bit I can’t get my head round. So how much are the administrators trying to raise to clear the loan ? The full £41 million.
Surely at the time of Choi’s take over the new lender must have seen we were been over valued by a huge sum.
I would be very interested in knowing were or which company gave a poker player £41 million and how they added £17 million to the value.I think the £41m comes from the initial purchase value (£17m) plus what IEC invested £24m. Also, the Administrators are looking for funds of £10m because we have to pay all creditors 25p in the pound to avoid a further 15 point deduction.
These are my assumptions on what has happened – not saying they’re correct, but that’s how I read it!
I love it. Whelan doing what is best. If he passed away as club owner, Barclays would immediately call in the debts…the loans Whelan took out for the club and which he has been guarantor for. It could put Wigan in serious trouble. Apparently Barclays risk management team has us on the ‘at risk’ list. This takeover will do away with that possibility. The Football League has learned a lot from previous foreign investments and takeovers, with thorough testing and examining if diligence.
Some on the comments in this thread are so depressingly inaccurate you cant help but laugh.
Tell me exactly when I made those comments, because I can’t recall making them. Date please….
It’s literally in this thread Vat. You claimed for months that a mate of yours at Barclays had told you we owed them money.
My worse fear is Lenagans gang take over. This is not because of the rugby connection all that crap but more about there true intension and what level of investment they would be talking. This club needs money, investment, someone with cash to burn who doesn’t mind taking a chance on a club with a proven track record and geared for the Prem.
For me Lenagen will secure the clubs status granted but for how long ?. I truly have my doubts that any money would not be forth coming to strengthen and approach League One with head on and with ambition so as we don’t linger like a fart in a jumpsuit like Sunderland and rot away.The question is , a quick death or a slow painful one ?.
My worse fear might soon come true as there’s a tiny rumor flying around its a consortium of locals.
What makes you think he would do that? He has done the exact opposite at Wigan RL.
Yes the prices are different, but that all depends on who is in his consortium. It could be a consortium led by IFL but with the cash coming from a billionaire.
I personally feel they are not the type to spend just after taking over and at times be a bit frithful. Football at our level rarely makes money. For every club that does there’ll be a dozen or more that don’t.
Owners these days need spare cash to burn. I just feel they are weighing up the cost and what will happen to the rugby.
As for investment ?, only time will tell but I very much doubt they’d spend like a Koukash or a Phelan.Can someone answer me this:
Which bank company loan fcukin shark do we owe ?,
How much does the new owners roughly have to pay for the whole cabooble considering WankerWay said he “invested” £41 million.So why sing this bank loanee causing a commotion??
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