Take over up date …..

I don’t know how to feel tbh, I always had a little hope that the family would still have a small part of the club after the takeover but it looks like a fire sale now. Nobody could have brought the level of success that Uncle Dave has given us and its sadly the end of a glorious era. I cannot begin to thank him enough for what he did for this special club. I hope I feel the same in a couple of seasons under the new ownership. Emotions are mixed between cautious excitement and deep sadness that the great man is going.

http://www.hkexnews.hk/listedco/listconews/sehk/2018/0521/LTN20180521845.pdf
hope this works

Owned by the Whelan family but the council have a substantial stake also.[/quote]

Substantial? Not at all.
Post completion Stadco will be made up of 25.5 million ordinary A shares (A shares have most voting rights) in the hands of the new owners, while the Council will have 4.5 million ordinary B shares.
The differences between ordinary A and ordinary B shares will be laid out somewhere, and usually entail far different voting rights, but even if we say that the voting rights will be the same then the new owners will have a 5:1 majority of shareholding in the stadium alone. The Council’s holding will mean nothing, I’m afraid.

Rugby man clutching at straws

No straw clutching required. Was confirmed at a meeting with the hierarchy at Latics that the council stake is there to ensure that BOTH clubs will always have somewhere to play. It’s not essentially rugby related but means that should things go tits up with the new owners and they decide to cream money off of us like the Oystons for example, they can’t take the stadium from us.

I have it as 22 million for the club, stadium, sharpys, Christopher Park, Euxton.
Seems ridiculously cheap, especially considering Blackpool are for sale for 22 million, without half the real estate to come with it.

Here’s a few questions for consideration, if you will.

Been sold very cheap. Why? Seems far too cheap.
Why do it all in a kind of hurry, when they couldve generated more interest over the last 3 or 4 years and maybe had two or three interested parties out bidding each other?
Why give them exclusivity at such a low rate of sale..if their offer was above value, you could understand that. Have you ever known Whelan to offer such a bargain?

Basically, and I’ll put this as blunt as Cloughie would. Dave has spoke to his family, young David doesn’t fancy the burden long term once grandad is no longer here. He wants to get back on his yacht. Jayne isn’t interested in Latics at all. Dave, who has realised he is getting on in year’s,doesn’t want them lumbered with the wranglings after is gone, so he’s sold the club as soon as he can.
IEC have apparently put down a deposit of 1.5 million for the purchase. It concerns me they’ll falter on he remaining 20.5 million.
Didn’t the stadium cost £56 million?
Have Whelans cut ties with a huge financial loss then?

I believe we paid Bolton 1 million for Euxton. Say the stadium did cost 56 million, plus whatever Sharpies and Christopher Park is worth. Your looking ad around 60 million there. The club assets… Apart from those already stated are the playing and coaching staff at say another 20 million….. So about £80 mil in total.

The question remains… Why so cheap? I’m really concerned the new owners have another motive, I hope not. We will have to see.

All those who have insisted Whelan never made a penny out of Latics over the 23 years… Absolute bullshit. So you are saying that a really savvy businessman… Very clever and successful in business is walking away having made nothing and is even taking a massive loss of 40-50 million on what he is selling?

Aye, alright. You believe that if you want. But I don’t. It’s actually insulting to a really successful businessman to even think that.

I have it as 22 million for the club, stadium, sharpys, Christopher Park, Euxton.
Seems ridiculously cheap, especially considering Blackpool are for sale for 22 million, without half the real estate to come with it.

Here’s a few questions for consideration, if you will.

Been sold very cheap. Why? Seems far too cheap.
Why do it all in a kind of hurry, when they couldve generated more interest over the last 3 or 4 years and maybe had two or three interested parties out bidding each other?
Why give them exclusivity at such a low rate of sale..if their offer was above value, you could understand that. Have you ever known Whelan to offer such a bargain?

Basically, and I’ll put this as blunt as Cloughie would. Dave has spoke to his family, young David doesn’t fancy the burden long term once grandad is no longer here. He wants to get back on his yacht. Jayne isn’t interested in Latics at all. Dave, who has realised he is getting on in year’s,doesn’t want them lumbered with the wranglings after is gone, so he’s sold the club as soon as he can.
IEC have apparently put down a deposit of 1.5 million for the purchase. It concerns me they’ll falter on he remaining 20.5 million.
Didn’t the stadium cost £56 million?
Have Whelans cut ties with a huge financial loss then?

I believe we paid Bolton 1 million for Euxton. Say the stadium did cost 56 million, plus whatever Sharpies and Christopher Park is worth. Your looking ad around 60 million there. The club assets… Apart from those already stated are the playing and coaching staff at say another 20 million….. So about £80 mil in total.

The question remains… Why so cheap? I’m really concerned the new owners have another motive, I hope not. We will have to see.

All those who have insisted Whelan never made a penny out of Latics over the 23 years… Absolute bullshit. So you are saying that a really savvy businessman… Very clever and successful in business is walking away having made nothing and is even taking a massive loss of 40-50 million on what he is selling?

Aye, alright. You believe that if you want. But I don’t. It’s actually insulting to a really successful businessman to even think that.[/quote]

Sharpeys £150K
Christopher Park £1.2M
Euxton £1.35M

Total £2.7M is on top of the £22M.

All the Whelan family loans and debts to Barclays are to be cleared and they are investing £700K a month into the running of the club affairs until the take over is complete.

I understood the Stadium cost £28M, but as real estate it is not worth anything like that.

The playing squad as assets in real terms is not worth that much unless they are wanted by someone so you can’t real put a massive figure on that.

It was said that BHA offered £10M for Nick Powell, but that would only be come to fruition with add ons and over a long period.

We would struggle to get £1M for any other player. Their value will obviously go up now we are in the Championship, but all this will have been taken into account.

If they are pumping in £700K for the day to day running of the club, that means it was costing DW £8.4M a year to keep the club functioning.

10,000 season tickets at £250 each would only bring in £2.5M, so £6M per season has to be found from elsewhere.
That’s not an easy task, and one he most likely found too hard to keep working at at his age.

He may have made a loss overall and sold it all cheaper than its full worth, but like anything, it is only worth what someone is willing to pay.

He, like us has enjoyed it and had a bloody good time over the last 20 odd years. Fair play to him and thank you for everything Mr Whelan. you deserve a Knighthood for what you have achieved and given to the people of Wigan and the country as a whole.