Admins are after more money trying to get a bidding war going so long as that lanagen don't get in cause hes only after the ground typical rugby mon trying burry latics I dont care who owns us and if we spend rest of my days in league one I dont care so long as I've a team to support just get a new owner in and release season tickets il be happy
NEW THREAD FOR ALL THINGS TAKEOVER
- Thread starter ZAKKY
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exiled tic
Guest
Looks like yet again our local paper has been shown to be way, way, behind the eight ball with this story and will try to put a different spin on things! Nixon, in this case found who the visitor was, found his backers and got a quote from them, all our great local hacks managed in the last fortnight was a plagiarised story from a young lad on twitter! I know who I trust in future,!!
Mighty Bongsmon
Vital Squad Member
i think people are reading too much in to the comments in that article - the administrators have said publicly that some bids have come in just for the properties (which were rejected) & some of the serious bidders don't want everything (they made a comment that some of them were wondering why a Lge1 club would need 2 training grounds) so all this "insider" is doing is in effect repeating that
Because it mentions earlier in the article that Lenagan's group is the major bidder so far people are putting 2 & 2 together & assuming Lenagan is only after the stadium and that it is Lenagan who the insider is referring to
Hope your right
king_dezeeuw06
Vital Champions League
I don't think Admin are contradicting anything Nixon said, Ganaye's camp planning to pay the 100k it means nothing to the Admins until it happens. Until then they can't really comment on it.
Regarding the comments about other people only wanting certain assets, they could be talking about other bidders who told admin they only wanted to buy parts of the business rather than it being aimed at Lenegan and fuelling the idea he is buying the club just to get to the stadium.
Regarding the comments about other people only wanting certain assets, they could be talking about other bidders who told admin they only wanted to buy parts of the business rather than it being aimed at Lenegan and fuelling the idea he is buying the club just to get to the stadium.
king_dezeeuw06
Vital Champions League
Nixon's track record on us since i first became aware of him about 6 or 7 years ago has always been very impressive. Some people hate to give him the credit he's earned and will point out the odd bit he got wrong amongst the large stack of things he got right but he's by far the most credible source of Latics info - miles ahead of the local press.
He's not perfect but he clearly has good sources and he's right a hell of a lot more than he's wrong so if he is reporting on Ganaye it give's me more hope than if i heard the same news from anyone else.
FrancosLoveChild
Vital Football Hero
I think it's because people judge someones ability or credibility based on their personal opinion, that has no correlation whatsoever.
Like I don't call Sergio Ramos a shocking defender because I can't stand him. You can admit their ability even if your person opinion about them is bad.
I don’t trust the admin, they’re just out to make money for themselves. They say they wouldn’t continue with the club as it couldn’t be seen through, with the players we’ve already sold and those still on the way out we’ll have made enough money to pay off creditors and probably the running costs for a year or 2. Where would all they go? Fuck the money owed to the Chinese even if it means a 15 point deduction, they shouldn’t get a penny. I still think liquidation is a very real possibility, all it takes is for something to put off a potential new owner and any takeover could collapse at the last minute. I kept thinking Bury would be saved but it never happened.
FrancosLoveChild
Vital Football Hero
Yeung has waived the loan
moonay
Vital Football Legend
I can see why you say that Exiled ................. but let's hope that Nixon's revealing of the interest doesn't bugger things up. It's interesting that the Admins appeared to be keen to temper expectations
Does anybody seriously believe that Leneghan would get away with just buying the stadium so Latics fold? Not a chance. What we do have if he gets control of Latics is a chance to bring both clubs under the same umbrella and save a fortune on running costs. Almost everything needed is already at Robin Park if you include the Athletics stadium which with a decent upgrade could make a fabulous training centre. With the council onboard Robin Park could be turned into a fabulous facility for both the football and rugby clubs. We wouldnt need Euxton and Christopher Park and the rugby wouldnt need Edge Hall Road. A mini Etihad Campus if you like. We must ensure if we survive we are never put in this position again and if it means jumping into bed with rugby then so be it.
FrancosLoveChild
Vital Football Hero
Did they even break NDA? I thought that was put for the original bidders, if these are not lot I thought the NDA was not necessary. Hope randy and co can get the sale done. Definitely the best lot we know of.
SwindonLatic
Vital 1st Team Regular
Admins gave the game away in their update. He said it was the players who recognised the French chap which is obviously how this has come out as they probably mentioned it in the canteen or to their agent who has leaked it to him and he has followed it up. Nixon’s contacts book will inevitably be full of agents who use him when they want to engineer moves for their clients and in return he will ask for any updates they have on Latics. An agent probably texted him about the French guy and he’s followed it up with a quick phone call. Fair play to him. Admins haven’t denied it so there is clearly interest but they won’t count any chickens until they get their £100k and it sounds like they need to sort the £24m loan out before anything happens.
ZAKKY
Vital Football Hero
Paul Kendrick
@PKendrickWIG
·
9m
BREAKING (AND FAB) NEWS: #wafc Latics admin: "Au Yeung Wai Kay has agreed, in order to ensure the survival of the club and to give the Administrators the best possible chance to agree a sale, to waive his rights to the repayment of the debts owed to him and to his companies."
he Joint Administrators have previously made references to the club owing debts of £25.3 million and £10.7 million to Next Leader Fund, L.P. and Wigan Athletic Holdings Limited respectively. There has been much speculation, both on social media and elsewhere, regarding these debts and to what extent they would need to be repaid in the event of a successful sale of the club. We should like to clarify this matter and to now inform fans that the Administrators have been in discussions with Mr Yeung, who has cooperated fully for the benefit of the club and who has agreed, in order to ensure the survival of the club and to give the Administrators the best possible chance to agree a sale, to waive his rights to the repayment of the debts owed to him and to his companies. He has given the Administrators the powers necessary to put this into effect and to use all monies for the benefit of the club. By waiving all his rights Mr Yeung has also made it much more possible to pay the necessary 25p dividend to the creditors and thus avoid a further 15 point penalty next season.”
“The Joint Administrators note that in the Sun article of the 20 August, its professional journalist Mr Alan Nixon goes into great detail about a bid from Randy Frankel and Michael Kalt. Firstly, we would point out that release of any information by them (or someone in their group) is a complete breach of the non-disclosure agreement. Secondly, we would inform fans in the light of this breach that no credible bid has been received from this organisation that would lead to the saving of the football club. Talks, however, are continuing with serious bidders with a view to bringing a successful sale to fruition.”
On 1 July 2020, Paul Stanley, Gerald Krasner and Dean Watson of Begbies Traynor were appointed joint administrators. All communications should be c/o Begbies Traynor. Please contact the joint administrators either by phone on 0333 009 6869 or by email at wiganafc@btguk.com
moonay
Vital Football Legend
I didn't at first ...... but I do after what the Admins said.
"We know other bidders want the properties that the club has, but we want to keep as much as we can together".
Is this Lenegan?
FrancosLoveChild
Vital Football Hero
Must be, who else has a bid in? Besides Lenegan must of broke the NDA too then :)
loudmouthblue
Vital Football Hero
You have to assume it is, it is a no brainer purchasing a cracking g stadium for a fraction of its true worth, he can then let the Latics go cheaply to a group that pays rent to him.
loudmouthblue
Vital Football Hero
This latest announcement is confusing based on what we know and things the administators have said in the past.
If the 25 mill loan demand has been withdrawn and the 10.7 million debt is an inter company paper debt between two of the four WAFC operating companies that will be written off at some stage during administration, then the outstanding football debts are being paid by the firesale taking place at the moment that leaves only the outstanding wages, Government Revenue and small creditors to be paid which I assume is the so called asking price of about 5 million, if this is so what the flaming hell are we doing in admin.
If the 25 mill loan demand has been withdrawn and the 10.7 million debt is an inter company paper debt between two of the four WAFC operating companies that will be written off at some stage during administration, then the outstanding football debts are being paid by the firesale taking place at the moment that leaves only the outstanding wages, Government Revenue and small creditors to be paid which I assume is the so called asking price of about 5 million, if this is so what the flaming hell are we doing in admin.
NorthernSoul
Vital Reserves Team
Our debts were 9.7m prior to raising 7m from sales once Robinson goes. 3.7m none footballing creditors that need 25p in the po.und. So we need to pay back approximately 6.9m. Of which we are about to do.
We never needed to ever enter administration, lets not forget not all the money we are paying now was actually due in 2020. We would have received 6m extra as solidarity payments, along with the 3.8m in transfer fees owed. The only issue was Junes wages would have been late but that would have been rectified.
It has been a complete stitch up.
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