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Where’s our council and huff n puff Nandy ?, don’t they have a stake in the ground ??. What do they have to say about it ??
I believe the council own 15% of the stadium. The administrator is selling an 85% stake in it.
I dont know what you expect Lisa Nandy to say about it, when negotiations are strictly between the court-appointed administrators and potential bidders. As due diligence needs to be followed, any comment on bids made by someone with influence could be seen as prejudicial and result in one of the parties suing if it goes pear shaped.
If it comes down to it, and nobody wants the stadium, I can see the council taking a controlling interest in it, with perhaps some sort of deal that the owners of both tenants take a 24.5% stake in return for new tenancy agreements that are fair for all parties and reflect their part-ownership.
I can see why Leneghan wouldnt want 85% of a stadium that is losing money and needs a lot spending on it, but I can see him being interested in a 24.5% stake in it with a share of the catering income and a reduction in rent.
I dont think we’ll have much longer to wait to find out. The administrators have got nothing left to sell now.
I also don’t think it tarnishes a legacy as good as his has been. The club may die or someone may knock down his statue but the words WIGAN ATHLETIC will still be engraved into the base of the FA Cup.
Lets hope they dont join Wanderers, Oxford University, Royal Engineers, Old Etonians, Clapham Rovers, Old Carthusians, Blackburn Olympic and Bury as former FA Cup winners who everyone forgets about.
As for blaming Whelan – you are right in that he sold up 18 months ago, but he’s still far more culpable than some of the millionaires taking flack from some of your posters. But I suppose the North Koreans dont blame the Kim dynasty for half their population starving.
The statue really has got under your skin hasn’t it? I don’t know how you can be so begrudging of the man that saved your club at the turn of the millennium, a few years after saving your former club.
Not at all. I just dont get it why blokes like Leneghan and Ainscough are getting pelters for not buying a football club that is worthless, has no assets of value any more but is still haemorrhaging money when they have never had any involvement in the club, nor have they every wanted any.
Similarly, I dont get it why Whelan is getting off scot-free when he was the one that spent 18 months searching for the “right buyer” that would ensure the future stability of the club for many years to come, then ended up flogging it to a bunch of money laundering crooks. His silence since 1 July is deafening.
Lets put it another way – how do you think it would go down with Warriors fans if whoever bought the ground then erected a statue of Jack Robinson – the bloke who almost bankrupted the Warriors in the 90s?
The difference CW is that the rugby have always paid the rent asked of them through the contract with the stadium owners. Its built into the financial plan and appears on the balance sheet every year. It also means that if they were eveicted, they’d be due a huge wad in compo from whoever owns the stadium.
The latics, although tenants, havent actually done this. Nobody actually knows how much Whelan or IEC “charged” in rent to play at their stadium. I doubt it is built into the contract that they get compo, because Whelan would never kick them out.
It may be that the amount charged was a nominal one, which is why potential bidders are not interested in owning a stadium that only one tenant actually pays the market rate on rent. If thats the case, then it makes sense that the bidders dont want a stadium that can only be used for rugby and football, and football wont pay rent for the next X years. That said, until the ground is sold, it remains the property of the administrators, and they’ll keep flogging assets to cover costs, which may include the statue.
Whelan started this sorry saga by never doing what he promised and giving the ground to the club. He also sold to the dodgy money-launderers.
I get that, but CW constantly goes on about all these millionaires who he believes have a moral duty to buy something that they’ve had fuck all interest in throughout their entire life.
Whelan is the only millionaire who has ever shown an interest, and he’s gone very quiet since 1 July when he made an offer to help. I suspect he’ll only pipe up when the new owners take a bulldozer to his vanity project outside the ground.
I’ll say it again to the millionaires of Wigan, how the hell you can love your club and town and watch this happen from your mansion beggars belief.
There’s only one millionaire in Wigan thats ever taken an interest in the club. As to why he hasnt come back and at least bought the ground which bears his initials and has a statue of him outside is beyond me.
Seems a strange one to me. Warriors have paid rent for the last 20 years and survived. I’m struggling to see why renting wouldn’t work for the Latics, in a sport where the income streams are far higher.
The only thing I can imagine would make it unfeasible is the current lease. We all know that the Latics didnt physically pay rent, but didnt actually own the stadium, but it may have been an accounting trick where they were charged sky high rent which helped keep tax bills down for the owners of the Latics (who also happened to be the owners of the stadium). With ownership of the club and the stadium potentially being two unrelated individuals, the rent due may become a reality going forward rather than two lines on two balance sheets.
So your saying vent my anger at say a guy at Asda or drives a taxi for not chipping in 50 quid and not a stinking rich multi millionaire who has contributed fcuk all sitting on a cash pile that would make a lottery winner look like a Wigan park tramp ? ffs
Nout stranger than folk
No. I’m saying vent your anger at those who were happy to be Wigan fans when the going was great, but have gone missing.
The millionaires you speak of have never given a fuck about the club, good days or bad, so asking them to donate to a cause they have no interest in is a bit pointless. Its like rattling a poppy tin in the direction of McClean and getting upset when he walks past.
As these millionaires have never shown any interest towards the club, even when they were in the greed league, what makes you think they would give a shit now.
If you want to direct your anger correctly, perhaps you should look towards the 20,000 who were at Wembley in 2013, yet haven’t contributed a brass button towards the supporters’ club appeal.
The average donation is £120. If those 20,000 all chipped in just £50, that’s a cool million.
Interesting players with a week to go not wishing to play in league 1!!..
…and also that nobody else wants them.
Jermaine Defoe donated 5000 after a Latics fan cheekily asked him to. A grand for each of the 5 goals he scored against us for Spurs
Shame he didnt cheekily ask Chris Kirkland to donate a grand for each of the 9 he shipped that day.
In the fog of all this, the point is being missed that the Administrators are tasked to raise as much as possible from the sale of the club and its assets.
The sad thing is that the assets sold off individually are worth more than the club and the assets collectively, simply because the footballing side is the one part of the sum that is technically negative equity and will remain so until income streams reappear. The value of the playing staff appears less than value of outgoings, and until that changes, the Administrators will continue to sell anything they can to raise funds.
Exactly, and spot on Nun, what pisses me off the most is this admin lot are milking the club each and every day while the supporters are paying the staff wages!
It seems the admins are hell bent on throwing obstacles in the way of potential buyers as to drag this charade out as long as possible, i can honestly see this lot going tits up thats if its not bad enough already!Hope you’ve got deep pockets Bullitt…..
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!
