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Fuck you dickhead!
Who you ‘avin a go at Norm?
If its who I think it is aimed at, guys can we please stop winding one another up & having a go at each other? No in house fighting. We need to stick together at times like this whatever side of the coin we are on.
Admin reckon theres 4 interested parties. Basically admin are trying to push for a sale by announcing a deadline which on one hand it’s good but it can also have a negative side.
Admin have also said that there are mountains of documents to go through regarding what you get for your money.
So were did they come from ?, who made all this legal jargon (especially the ground) it can only be Mr DW.I’ve said it more than once, as a business you would laugh at the finances and you’d run a mile. with the loss of around £6 million in League money, the drop to L1, the need for a new team, no match day income for the foreseeable future, and a possible £10-£15 million to clear debts and see us through yr1 who in their right mind would purchase that ??.
It has to be either 1 of 2. Local and passionate who cannot stand the thought of WAFC been wiped off the board,
Or
A filthy rich owner who wants a ready to go project with the decks clear and a clear wage structure in place.I’m not sure how this will pan out but I just hope it’s not scenario 3
No one comes in, Wigan Athletic cease to be, the ground and 2 training grounds go up for sale.
Now who would want a Stadium and plenty of valuable real estate (training grounds)Lennegan who would get a ground for the fraction of the cost and not only that, theyve got it without having the burden of having to buy Wigan Athletic.
And before you say it, Lennegan might be one of the 4 interested parties. It was announced when there was 5 interested he wasn’t 1 of them so at some stage after publicly announcing his interested pulled out.At this stage due the Covid and a total lack of match day income and loss in League revenue I fear for our survival truly fear
Good summary cupwinners what I would hope is the fact were two weeks in since the appeal and the 4 interested parties are still involved means they haven’t come across anything to put them off. There has to be a deadline and end of August seems reasonable.
Could be blind hope on my part
I’m not sure what’s in these land registrars covanents. Wouldnt surprise me if DW’s got a 10% sell on clause in there or he can land his helicopter on the pitch if were losing.
Like I keep spouting off about, on a normal day I wouldnt think there’d be a problem selling the club especially with the low level of debt and what you get in bang for your buck.
What’s killed us is taking the drop. Around £7 million in Championship money gone and a good £4-£5million we’ll lose on Robinson through his contract clause.
That’s a fair old amount to lose in one day thanks to those cnuts called the EFL.I pray that one day I get up one morning and open the BBC sports app on my phone and the headlines reads something like:-
“EFL head office raided numourous employees arrested after major corruption investgation leaked”
And Parry and his m8’s get dry rodgered in WaltonDaily
Your anti-Lennegan stance does you no credit Cup Winners. I dont see you criticising Whelan for not riding to the rescue, despite being the bloke who, after 18 months of due diligence and promises to only sell to someone with the interests of WAFC at heart (like him), flogged it to a far east consortium that have used the club for nothing more than a money laundering vehicle.
How much was it costing Latics to play DW Stadium?
How much was it costing Warriors to play DW Stadium?
Lennegan would not take on Latics and Rugby are your stark raving bonkers ?? You’d have to be in today’s climate, he has ulterior motives like securing a cheap ready to go stadium for the rugby.
Whelan ? I dont blame Whelan ????
Whelan should shoulder part of the blame for selling out to a bunch of unknowns who formed a company to screw us down the line.I wouldn’t trust the pair of them in business as far as I could throw them. Worse scenario someone takes over, debts are spread over 3 years, we take a 15 points hit next season
But were still there fighting in League One not 10 leagues down
He doesn’t need an ulterior motive. Latics go bust and the stadium is his. Who else is going to buy it?
Whelan (or his family) could pick up the Latics for a fraction of what he sold it for, including the assets. Young Dave could come back as Chair (still a step up from mansfield), and the club could be run as a L1 club with L1 income and L1 outgoings, rather than a Championship club with L1 income and Champ outgoings. There is a hell of a difference between £19.4m wage bill and a £2.5m wage cap, and if the supporters collectively feel about the predicament as those who frequent here, then once the DW is re-opened, there should be very healthy attendances. All positive aspects, as long as he is prepared to shell out a few quid at the outset, but nothing like what he sold it for.
And…he’d get to keep his statue outside the ground!
So Choi and Way bought the club off IEC with an 8% loan which rises to 20% if we default payments.
So now we Wigan Athletic owe over £40 million ?
Hey ?
Debts owed while trading yes but Wigan Athletic owe roughly £25 million for the loan?. Now correct me if I’m wrong here doesn’t the NLF owned by Choi and Way owe £40 million they borrowed.Any potential new buyers would have to clear any outstanding debts accumulated by the club while trading but certainly not the £25 million for the actual ground, training ground and any more land that’s heavily negotiable.
Rule 1) when you borrow that debt is yours it is non transferable that debt is the debt of NLF. That debt will always be yours unless you come to an agreement of some sort with the lender.
People are saying “We owe £25 million for the ground”
Wrong, they do owe debt we have accumulated while trading but this is different.I’ll be surprised if they get back any were nr £25 million for the ground more like £12-£15 million and a total of £23-£25 million including debts.
New owners will be negotiating on 3 fronts. The purchase price of bricks motar and training grounds land etc, debts that need paying and future overheads (clearing out high earners).
Yes £25 million is roughly what the ground sold for and what NLF owe for the bricks and mortar but will they get it ?, in a world of sugar candy and snowdrop flakes yes of course, but in the real world of debt and business?,Wanna buy some magic beans ?
Never forget
Wigan Athletic never bought Wigan AthleticYou cannot just transfer a debt without it been paid or sold on. I’m curious why some people seem to think Latics owe the debt of what someone created by buying the club.
Debt only goes away when you pay it, sell to pay it, sell the debt, or bankruptcy/liquidation. It never leaves your name till so
The Department for Digital, Culture, Media and Sport also said pilots will take place from August 1 but any stadium reopening would be subject to coronavirus guidelines.
However, according to a draft document from the Sports Grounds Safety Authority (SGSA), published in The Times, stadiums will be at a maximum of 33 per cent full and could be at as low as 17 per cent of capacity when fans return in October.
I think we should be ok with 33%, but 17% capacity could affect a few clubs,
but at least some income is coming in,
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