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The Wigan Athletic accounts for the year to 31 May 2008 show it was £66.4m in debt; £23m was owed to Barclays Bank which I suspect is the debt Dave Whelan was referring to when he said it had reduced to £15m in March this year.
This summer the outgoing players were sold for more than the ones we brought in so is apparent the club will have made a profit on these transactions even after all fees are taken onto account. So it is likely that the £15m debt has reduced even further. Hopefully the club is now compliant with the Premiership financial rules.
Premier League club debts
http://www.guardian.co.uk/football/2009/jun/03/english-premier-league-debtDave Whelan on Wigan Athletics debts
http://www.manchestereveningnews.co.uk/sport/football/s/1104850_whelans_warning_over_debtNot a Patch – there’s more info on this link.
http://www.notapatchon.net/forum/4-the-popular-side/12643-that-subject-againIt’s all fine and well people saying ‘sack the board’, but who on earth is going to step in and take over.
In all honesty, my eyes were opened with that finance thing that someone (I’m sorry I forget who) posted on here last week. Until then, I had been full of criticism for Whelan, calling him a tight so and so for not spending money on players.
However as it transpires that our clubs outgoings are something like 42 million, and our incomings are around 38 million, it doesn’t actually leave us with a lot to play with, does it?
Add the fact that our debts have been offset by loans arranged between Whelan and Barclays bank, and it really madce me think a lot differently, and see what position we are in. Other clubs such as Blackburn, are in the same boat. They sold Santa Cruz, and we sold Valencia. And neither of us are loaded from it. A sad indictment on todays game? It’s a sad indictmant of the world in general, as it happens.After learning this, I now get the picture. Without Whelan sorting these loans out, we’d be a lot worse off. In trouble, most likely. So I think people need to look further into it, before saying ‘sack the board’.
I discussed it with some chaps who sit near me on Saturday, and they were shocked, but came around to the same way of thinking, which is there is no better person to step in and take over, as it happens.
Hark! Is that the sound of a penny dropping? :roll: [/quote]
One down a few more to go :shock: :lol:
Griff,
Don’t know why you always have to come out with a snotty reply.
I’ve accepted now how our club is. The majority have NOT.
I also think it will really be touch and go whether we survive or not, this season. That is my GENUINE feeling.
But what can we do? Nothing.
Terrible state of affairs though, when you sell all these players for millions…….and are not in a position to use the money to buy similar standard replacements. Kind of like trying to climb a glacier in slippers, I imagine. Your trying your best to hang on, but eventually…..there you go. You slip down. :(
Griff,Don’t know why you always have to come out with a snotty reply.
I’ve accepted now how our club is. The majority have NOT.
I also think it will really be touch and go whether we survive or not, this season. That is my GENUINE feeling.
But what can we do? Nothing.
Terrible state of affairs though, when you sell all these players for millions…….and are not in a position to use the money to buy similar standard replacements. Kind of like trying to climb a glacier in slippers, I imagine. Your trying your best to hang on, but eventually…..there you go. You slip down. :(
Well, partly because I was roundly accused of knowing nowt and being up Whelan’s arris yet now people (apart from those who have been put on holiday by JayT) are coming round to the balanced, sensible view once they have been presented with the facts.
Plus, it’s great fun being a sarcastic, snotty get. Much better than calling people “koonts” and other such examples of wit and repartee.
As for not surviving – surely that is precisely what Whelan is trying to do. If you mean won’t survive in the Premier League then yes, I’d be disappointed when it happened, but we’d still have a team to go and watch.
And as a positive by-product, maybe all those half-wit morons who have latched onto the club in recent years might disappear too. Note that I DO NOT include you in that category.
Until I saw those facts the other day, I didn’t know anything about that, honestly.
I read it, digested it, and the facts sank in that all is not what it seems. I mean anybody saying Whelan is just tight, isn’t looking at the bigger picture. I wasn’t, until I read that information.
Griff, I for one, have never accused anybody on here of being “up Whelan’s arse”. I don’t know whether you were implying I did or not, but no, I’ve never thought that.
People actually need to start realising that it is largely down to his business skills, that sees us in the position we are. I mean, not in trouble with big debts. He’s been arranging loans from Barclays, and it is generally considered that if we didn’t have him doing this, things would be very different.
The question remains though, ARE we punching above our capabilities? I mean, would our finances be more managable in the Championship? Is that a daft thing to say? I don’t know. I just wonder how long we can go on for, running the club in this way.
Griff, I for one, have never accused anybody on here of being “up Whelan’s arse”. I don’t know whether you were implying I did or not, but no, I’ve never thought that.Nope, I wasn’t
Whelans done to you what hes done to Martinez. Fed a load of bull and the poor souls believe it. Took over Orrell, but ditched them. Took over Worryers, but ditched them. Stays with the club thats recieving a minimum £40m off Sky, £1/2m for each league position (that means last season £4.5m), £1/2m for being shown live (that means last season £4m), £10m in sponsorship, £40m in player sales, then add attendances, corporate sales, etc. So last season the poor chairman of Wigan Athletic had to make do with an absolute minimum of £100m.
I hope he can manage. :lol:Whelans done to you what hes done to Martinez. Fed a load of bull and the poor souls believe it. Took over Orrell, but ditched them. Took over Worryers, but ditched them. Stays with the club thats recieving a minimum £40m off Sky, £1/2m for each league position (that means last season £4.5m), £1/2m for being shown live (that means last season £4m), £10m in sponsorship, £40m in player sales, then add attendances, corporate sales, etc. So last season the poor chairman of Wigan Athletic had to make do with an absolute minimum of £100m.
I hope he can manage. :lol:You simply can’t add up, can you son?
How many people have to tell you you are wrong until you believe it? :roll:
The reason football is in such a perilous state is purely down to the modern day players. Players’ wages are killing small premier league clubs like ours who don’t get the gates and the other revenue streams that the big boys do.
I read a post or a story somewhere about Marlon King’s wages – he was on a shed load a week and look what a waste of money he has turned out to be.
We hardly get gates of 20k, our merchandising revenue is probably a hell of a lot less than some championships clubs so how can we possibly compete with the big clubs. The only way is to sell off our prized assets and try and get some promising players in who will one day offset our negative balance sheet.
It means we won’t ever be able to challenge for Europe on a consistant basis but if it means the club I love stays afloat and then I’m all for it. BACK THE BOARD!!
You see griff ,he has posted that many times about this subject he’s forgot who he his bet his names Dave . Infact their was one loonball going round Sams on saturday saying exactly the same :roll: :roll: :roll:
It’s all fine and well people saying ‘sack the board’, but who on earth is going to step in and take over.In all honesty, my eyes were opened with that finance thing that someone (I’m sorry I forget who) posted on here last week. Until then, I had been full of criticism for Whelan, calling him a tight so and so for not spending money on players.
However as it transpires that our clubs outgoings are something like 42 million, and our incomings are around 38 million, it doesn’t actually leave us with a lot to play with, does it?
Add the fact that our debts have been offset by loans arranged between Whelan and Barclays bank, and it really madce me think a lot differently, and see what position we are in. Other clubs such as Blackburn, are in the same boat. They sold Santa Cruz, and we sold Valencia. And neither of us are loaded from it. A sad indictment on todays game? It’s a sad indictmant of the world in general, as it happens.After learning this, I now get the picture. Without Whelan sorting these loans out, we’d be a lot worse off. In trouble, most likely. So I think people need to look further into it, before saying ‘sack the board’.
I discussed it with some chaps who sit near me on Saturday, and they were shocked, but came around to the same way of thinking, which is there is no better person to step in and take over, as it happens.
I will take credit for that, and doff my cap modestly.
Cockney Latic has a competition running to win a copy of his book.
It gives an even bigger insight into where he came from and how he achieved what he has achieved.
FA Cup Winners 2013, sounds good that
It’s all fine and well people saying ‘sack the board’, but who on earth is going to step in and take over.
In all honesty, my eyes were opened with that finance thing that someone (I’m sorry I forget who) posted on here last week. Until then, I had been full of criticism for Whelan, calling him a tight so and so for not spending money on players.
However as it transpires that our clubs outgoings are something like 42 million, and our incomings are around 38 million, it doesn’t actually leave us with a lot to play with, does it?
Add the fact that our debts have been offset by loans arranged between Whelan and Barclays bank, and it really madce me think a lot differently, and see what position we are in. Other clubs such as Blackburn, are in the same boat. They sold Santa Cruz, and we sold Valencia. And neither of us are loaded from it. A sad indictment on todays game? It’s a sad indictmant of the world in general, as it happens.After learning this, I now get the picture. Without Whelan sorting these loans out, we’d be a lot worse off. In trouble, most likely. So I think people need to look further into it, before saying ‘sack the board’.
I discussed it with some chaps who sit near me on Saturday, and they were shocked, but came around to the same way of thinking, which is there is no better person to step in and take over, as it happens.
I will take credit for that, and doff my cap modestly.[/quote]
Was it you Standish? Oh, I’m sorry for forgetting it was you.
I may be a winder-upper, a stirrer, a man of controversy and outrage……
but I always try and give credit.
In this case, I absorbed what was posted and accepted the situation. I do NOT think we’d be better off without Mr Whelan.
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