SPANIARDS BID REJECTED | Page 4 | Vital Football

SPANIARDS BID REJECTED

loudmouthblue said:
You don't know much about business do you, business plans and cash flow forecasts are central to any agreement it not just about the fact you have money in the bank, they will want to know how you intend to use the money you have available to you and this is no different to what the EFL would have demanded especially in light of what the previous owners did.
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Why would you presume such a thing re business plans? I was been involved in preparing and managing business plans for years.......... none of which had anything to do with the EFL "Owners and Directors test".

Feel free to enlighten me re the clause where the EFL can reject a bidder because they don't like the way they're going to run the business.

https://www.efl.com/-more/governance/efl-rules--regulations/appendix-3---owners-and-directors-test/
 
moonay said:
Interesting....... Stanley seems to dismiss Frampton still ......... maybe he's confident the RRR bid will come though for us.

Well done JW by the way .......talk about on the ball !

https://twitter.com/x/status/1346433436945424384
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If that is the case can you explain this from another article you posted a link to.


Coun David Molyneux, leader of Wigan Council, said: “I am shocked and disappointed by this news, because we as a local authority have done our best in terms of what we can do to support the bid.
“I do know that the EFL had some concerns about it and these appear now to have been borne out.

For a story that was only announced at 11.00 am how would Councillor Molyneux know the "EFL had concerns"

It seems yet again there is something to dispute what the administrators claim and this just isn't a one off now.
 
moonay said:
Why would you presume such a thing re business plans? I was been involved in preparing and managing business plans for years.......... none of which had anything to do with the EFL "Owners and Directors test".

Feel free to enlighten me re the clause where the EFL can reject a bidder because they don't like the way they're going to run the business.

https://www.efl.com/-more/governance/efl-rules--regulations/appendix-3---owners-and-directors-test/
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Forget business plan then I brought that into the equation as I think one goes hand in hand with a cash flow forecast, any money that is to be introduced over a two year period has to be calculated by a cash flow forecast how on earth would the come to the conclusion 5 million pounds was needed without one.

It is impossible that a cash flow forecast has not been done by someone, be it the administrators, EFL or the bidder, wasn't it reported before Christmas that only a few things between lawers accountants and the EFL wS holding up the deL.
 
loudmouthblue said:
If that is the case can you explain this from another article you posted a link to.


Coun David Molyneux, leader of Wigan Council, said: “I am shocked and disappointed by this news, because we as a local authority have done our best in terms of what we can do to support the bid.
“I do know that the EFL had some concerns about it and these appear now to have been borne out.

For a story that was only announced at 11.00 am how would Councillor Molyneux know the "EFL had concerns"

It seems yet again there is something to dispute what the administrators claim and this just isn't a one off now.
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When you say "if that's the case", I'm not really sure of to what you're referring. I mention Frampton and RRR ........ but then you mention Cllr Molyneux's comments.

I've no idea what "concerns" the Cllr had in mind ........were they the ones re Cristo, or some new ones? How would I know? I'm comforted by his statement of support though.
 
loudmouthblue said:
Forget business plan then I brought that into the equation as I think one goes hand in hand with a cash flow forecast, any money that is to be introduced over a two year period has to be calculated by a cash flow forecast how on earth would the come to the conclusion 5 million pounds was needed without one.
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So? :shrug:

Again, please show me the clause where you believe the EFL can refuse to approve a new owner because they don't like how they intend to run the club.

I really don't know why you're winding yourself up over this.
 
springy-park said:
Are they going to replace the thousands of the 'Glory' fans
who have long left supporting the Club?
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Of course not Springy, but I was responding to your comment "What happens when we 'vintage' fans are no longer around," and I was suggesting the next (small but dedicated) generation of fans will hopefully be there for the future.
 
Supporters Club Statement

"This morning we were made aware that discussions with the Spanish bidders regarding their proposed takeover of the club have failed. The statement from the administrators can be found here. We share the fans’ anger and frustration at this news, and the timing of the decision.

The Supporters Club have already made contact with the administrators and the EFL. Most importantly we have immediately begun work to help invite and progress alternative bids, in addition to progressing the supporters’ solution.

We have also strongly requested that the administrators refuse any requests for exclusivity from future bidders, in order to allow for multiple bids to be proposed to the EFL. We have been assured by the EFL that this is possible, and we will continue to discuss this with the administrators.

We understand and share the concerns of all Latics supporters. But we will continue to work with all parties on a daily basis to secure the future of Wigan Athletic, and we will provide further updates regarding next steps as soon as possible."

I think they are spot on about refusing future exclusivity requests. That has killed us with the Spanish.
 
daleks.at.the.monaco said:
Why, what do you know
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Issues and concerns have been raised, not sure I need to go over old ground as an ‘I told you so’ post. I did repeatedly ask people to look at the bigger picture, look at what was out there, hold their nerve, don’t be fooled by unscrupulous idiots and to be read between the lines on certain statements for example. But just got abuse.

Despite the shock and short term difficulties we now face I’m actually happy it’s fallen through and can see a far brighter future ahead than if they’d gotten the club.
 
king_dezeeuw06 said:
hink they are spot on about refusing future exclusivity requests. That has killed us with the Spanish.
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To a degree yes. I think it depends on the bidder though. They were wooed last time because Christo offered to pay running costs so took it off the market and is probably why they didn’t do their own due diligence effectively. They had the opportunity to end it when it was initially refused but doubled down and as a result we are now deep in the mire. If a respectable bidder comes forward and wants exclusivity then I don’t think it should be automatically discounted. Bottom line these administrators are absolutely atrocious and have caused considerable, unnecessary, harm to the club.
 
The Admins now, have to find money from somewhere to pay the bills,
if they have to sell our young players they will have to accept the best offer.
 
moonay said:
So? :shrug:

Again, please show me the clause where you believe the EFL can refuse to approve a new owner because they don't like how they intend to run the club.

I really don't know why you're winding yourself up over this.
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I am not winding myself up but I think you are trying to.
A cash flow forecast is nothing to do with how the club is to be run in the future, it is to estimate how much cash will be needed within that period and a figure of 5 million was muted over a 2 year period if my memory serves me correctly, how on earth do you think anyone came up with that figure, it is not just plucked from the air, it is the EFLs job to see how any bidder proposed to meet that plan, are you saying that you just have 5 million quid sat in a bank account to be used as an when, that is preposterous as a number of factors including future income, money the supporters club could have provided if needed and personal savings and income of the bidder is all part of the total figure to make the club sustainable for the next two years.
 
springy-park said:
There is only so long fans can be 'dangled' with this takeover fiasco,
these, are 'NOT' true fans, who have supported Latics for over 30 years
are near 70 or over 70 years of age.

They have been there and worn the T-Shirt,
so do NOT insult them with 'Good Riddance' Crap!
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I never understand why some longer serving hardcore fans feel the need to push away the more casual fans. We are hardly blessed with numbers where we can afford to lose anyone.

Some fans may not share our passion or being willing to sit through thick and thin but they certainly will never get there if we act like they aren't welcome if they waiver.

I eat, sleep and breath this club and have for over 20 years but even i have felt demoralised by what has happened to Wigan and football in general over the past year - i'm certain i'm not the only one. So if some fans who aren't as dedicated to Latics or haven't followed them that long lose hope or can't get into watching only on TV then i understand why they would, even if i don't agree.

I hope the majority of fans will stick with us and those those who fall off now or even fell off after relegation from The Champ or the Prem will come back eventually as we need everyone we can get. God bless everyone who stick with us, but for those who consider walking away I think we're better encouraging them to keep the faith or at least leaving the door open for them to return rather than tell them 'good riddance'.
 
So I think we can assume there will be no new players being bought in this Window,. If we lose Naismith all the loans and cant offer new deals to the short term deals we have now
Where is this going to leave us player numbers wise
 
loudmouthblue said:
I am not winding myself up but I think you are trying to.
A cash flow forecast is nothing to do with how the club is to be run in the future, it is to estimate how much cash will be needed within that period and a figure of 5 million was muted over a 2 year period if my memory serves me correctly, how on earth do you think anyone came up with that figure, it is not just plucked from the air, it is the EFLs job to see how any bidder proposed to meet that plan, are you saying that you just have 5 million quid sat in a bank account to be used as an when, that is preposterous as a number of factors including future income, money the supporters club could have provided if needed and personal savings and income of the bidder is all part of the total figure to make the club sustainable for the next two years.
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LMB, I'm really not trying to wind up anyone. All I've said, from the outset, consistently, is that the EFL only have the power of approval over the prospective owner. They don't have any power as to approve how the club might be run. It really is as simple as that.

I have no idea why you're ranting about the £5m ........... though if you want to know where it's come from, I seem to remember it being an estimate of 2 years worth of running costs.

The end of your post is a rant, with no punctuation, making it very difficult to understand.

Regardless, I'll ask yet again, please, please, please, show where the EFL can reject an owner for not liking their business plan, cash flow forecast, or any other business tool. They're judging the owner ....... not his methods.
 
Zeb2 said:
Springy, maybe there’s been a bit of what might be deemed excessive terminology...but essentially LMB is right here ....if these lads and lasses are 30 years plus ’die hards’ ....then they need to behave as such...especially now.
We are all absolutely pissed off..... but this is OUR club .....not Begbies or Moreno’s or indeed any owners, who are by and large only ever here for a period of time ....Many of us were all reminiscing the other day about the Man City cup tie from 50 years ago .....this is the point ....it’s a lifetime commitment......serious disability or shuffling off the old mortal coil are the only things I can think of that will ever stop me going.
Hopefully your pals are just reacting with understandable emotion.....as and when we get through this and we properly kick off on a Sat afternoon again in front of supporters ....they’ll be back !
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Brilliant post and says everything i am trying to say far better than the job I was making.

Thankyou.
 
ZAKKY said:
So I think we can assume there will be no new players being bought in this Window,. If we lose Naismith all the loans and cant offer new deals to the short term deals we have now
Where is this going to leave us player numbers wise
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Unless we can get a new offer accepted immediately i think it's very likely we will be down to the kids from the lower age levels.
 
moonay said:
Interesting....... Stanley seems to dismiss Frampton still ......... maybe he's confident the RRR bid will come though for us.

Well done JW by the way .......talk about on the ball !

https://twitter.com/x/status/1346433436945424384
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Good Interview - well worth listening to.

It's clear the Spanish were not time wasters and had invested a lot of money in this takover deal so far.

They seem to have been "spooked" between Christmas & New Year by a combination of a realisation of difficulties in bringing in foreign players due to new Brexit rules and the worsening of the COVID situation (new Strains ?). Anyway they decided to cut their losses and exit - not good for us !.
 
ZAKKY said:
So I think we can assume there will be no new players being bought in this Window,. If we lose Naismith all the loans and cant offer new deals to the short term deals we have now
Where is this going to leave us player numbers wise
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I think we need to face reality now that we’ll get relegated. No issue if we get a decent owner to take over us and we can start again in August. Far better than short term survival in L1 under Moreno.
 
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