Forum Replies Created
28 August 2020 at 1:33 pm in reply to: New owners, “Were are you !!, let’s be having you!!” #189043
Lenagan is panicking about the Warriors not having a ground to call home, because his long term tenancy will be null & void, or re-negotiable, under new ownership.
No it won’t …they are protected by their lease ….any new owner cannot simply tear it up, or arbitrarily change the terms, even rent review points will be pre-specified.
We are also tenants and are similarly protected (assuming we continue to exist!)
Egg ….I note with trepidation your less than confident view on the French/US groups interest ….and would welcome your further thoughts on that (to the extent that you can of course)
However what do WASC hope to do with £500k ?
It isn’t enough to buy the club and would last no more than a couple of weeks in terms of running costs …what’s the plan ?…..if it is to buy a seat on the board then that presumes there is going to be a board (i.e a club with an owner) to sit on ?!
The administrators brief isn’t to save us ….it’s to realise as much as possible for the creditors …that’s what they are ‘for’
I still think there is a chance we will be bought….the French/US group apparently bid only £5M last week, which was a stupidly low offer for the whole shooting match…and whether that was a cheeky first go or whether it represents their final offer….the Admins were never going to accept it.
So the sale of the ground, Euxton, and possibly the chippy, Realising maybe £6/7m …..may now mean that a further £5m is acceptable (for the football club and Christopher Park only)
There is also the possibility of another potential bidder who may be hanging back waiting for this to play out before they make a late bid
All clutching at straws I accept, but I still think the odd ‘straw’ is still hanging about.
Looks like we may finally be in business !
The French bloke as the front man for two wealthy Americans who have an interest in Tampa Bay Rays baseball team.
A bloke called Frankel (what a miler) who used to be a big cheese at Goldman Sachs and his mate Michael Kalt ….both of em well fixed apparently.
According to Nixon that looks to be progressing
Nothings done until papers are signed and cheques written of course but some grounds for optimism at last ?
‘ Douglas fields’
Aah yes indeed Egg…..but their owner hasn’t “pulled the plug” so they remain a bastion of all that is fair and honourable ….if he did pull the plug however they would be perfectly happy to instantly regard themselves as “cheats”
Wouldn’t they ?
In DWs defence, all was going well until this second sale. Money spent on the squad, money spent on the stadium, money spent on the academy.
The second “sale” wasn’t a sale at all though was it? ….it was just some ‘paper construction’ …a deliberate ruse engineered just to facilitate this travesty.
Not that I blame Whelan in the slightest, Choi played his part at first and surely did sink money in, but when he realised this ‘getting to the Premiership lark’ and the untold riches awaiting there is a sight more difficult and way more expensive than he imagined….and that our drain on his resources was adversely affecting IEC valuation he decided to drop us like a hot brick.
I’m pretty sure that sell on fees only relate to any future profit ….otherwise why would any buying club agree to them ?
In any event as Egg says all payments due (up to now) have been made.
Barnsley have been in the bottom three virtually all season, continuously since September, I think….still in bottom three at the end of 46 games ….as such they deserve nothing other than relegation.
Their absurd claim that they are the only ‘clean living club’ in existence exposes their puerile thinking. Virtually every club would be in our position if the individual or company that owned them immediately and arbitrarily stopped injecting any funds ….and if the owners pulled such a vile trick (as ours did) then they would instantly become “cheats” according to certain South Yorkshire simpletons.
Cook was on £18 k per week
You can sign loans and frees I think …or free agents….I’m guessing that Bolton haven’t paid any money out.
At the rate we are going we don’t want it pushing in to next season !
Could all change yet of course !
What you MAY be missing is that administration is punishable on the central premise that by electing for administration you have deliberately taken that course as a direct way of avoiding full payment of a host of debts, which has effectively given you an unfair advantage over your rivals.
This typically includes (with monotonous regularity)
1. unpaid tax and VAT dues to HMRC,
2. repeated failures to pay players on time and
3. unpaid instalments of transfer fees owed to other clubs
4. A lengthy list of angry creditors, typically suppliers and contractors
At the point that the club was put into administration it seems none of the above applied, save for the voluntarily agreed suspension of 30% of the players wages….which is something Covid related that has been a feature across many other clubs.
That the “new owner” (surely a front?) elected to put the club in administration literally days after assuming 75% control clearly illustrates that the whole thing was a premeditated ‘construct’
Were we living beyond our means ? Certainly, in common with the vast majority of clubs, but the required monthly cash injection that had always come along simply stopped with no notice.
The owner’s action at a stroke put the club at great risk of relegation (just as it was steaming away from the drop) devaluing the club greatly and immediately devaluing the prime assets (players) who will now likely be sold at substantially below market value. This makes zero financial sense from any perspective and this is why the Administrators, the EFL and various journalists have all described the circumstances here as unlike any they’ve seen before, ‘Bizarre’ is the favourite adjective.
Now whether you accept the argument is a different matter, and points 1 to 4 above may well come in to play now or in the near future but they weren’t applicable at the point the button was pressed.
Owners who spend what they never had a hope of actually paying is one thing, but here it seems they certainly had the money but simply made an immediate call to ‘stop’ but no debts were defaulted on ….up to that point.
No idea whether this will make a difference but that essentially is the counter argument.
Koukash is undoubtedly minted but I think he may be a bit ‘excitable’ ?
Didn’t he fund Salford for a few seasons then just lost interest and walked, he may have done it in a more orderly fashion than the character who has dropped us in it …. but ?
Lenegan doesn’t have the money (he’s a few Bob in front of me mind) to buy and run a Championship club (if indeed we remain one).
He’ll be one of a consortium, assuming he can find enough folk with enough money to go in with him…..but there are three folk/groups who have apparently “shown the money” already and I’m guessing that his bid isn’t yet one of those to meet the criteria….but assume he’s still ‘in the betting’
Excellent performance from front to back, no weaknesses. Poor miss from Jamal Lowe but shouldn’t detract from an otherwise good game from him. (And we can afford to turn a blind eye on the back of a 3-0)
Oh and let’s just say, Kalzinho ! Astonishing
Good job and all as all the ‘dead and burieds’ are consistently picking up wins and draws where they weren’t expected to. Stoke and Huddersfield definitely in the thick of it now!
Big job for us on Saturday mind
Brentford were Definitely way ahead of any other side who came to Wigan this season ….wasn’t sure if it was because we were that poor on the day (which we were) because at that point they were more mid table than play offs, but they haven’t half pressed on since then.
It will be difficult on Saturday but I think we may frustrate them and maybe get the draw (for which I’d snatch your hand off!)