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Bickymon1
Guest
I also understand that producing players and selling them on is also ideal way to run a club and to keep it going
NEW THREAD FOR ALL THINGS TAKEOVER
- Thread starter ZAKKY
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king_dezeeuw06
Vital Champions League
It would suprise me greatly if they backed a bad bid, they've not done that so far, so i can't see them starting now.
It wont matter if someone tells the EFL 'don't pass that bid' unless there is a valid reason to reject it. The Bahrain bid will pass if it is all in order and the Royle and Gibson bid will become irrelevant assuming we don't have anymore last minute change of hearts.
Dudestalker
Vital Reserves Team
Not looking for an argument KDZ, but I'm not totally convinced that some of the parties you mentioned haven't got rose - coloured spectacles on. As in they don't just want a buyer,they also want an outcome that benefits certain individuals. For example, Lenagan, and a former employee being given a role.I really don't have a problem with either concept, especially the latter, but please don't let these be the determining factor(s).
king_dezeeuw06
Vital Champions League
I don't think the SC, Nandy or the council will have anything to gain by sacrificing a superior deal to help an individual they owe nothing to.
The only issue is if the new owner tried to be unreasonable with Warriors playing at the stadium the council would exercise their covenant powers to stop that. But i don't think any new owner would want to increase the stadiums loses by losing a tenant, so i don't think that will be an issue.
Nandy and the SC indicated they thought the Spanish were bad news got a lot of stick, but in the end they were proven right, so i think we should give them more credit to be able to judge the situation accurately and do what is right.
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Bickymon1
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You mean by upping their rent making them pay a bit more to help with runnung costs
But cant because the council are protecting the wurriors by holding a gun to new stadium owners and saying we own the land you do has we say
Coddenchips
Vital Reserves Team
Who told you the council are doing that?
Mighty Bongsmon
Vital Squad Member
From what I'm aware of, the council (even as leaseholders) have no say in what rent the Warriors are charged & nor can then withhold the lease to any new stadium owners because of it.
They can refuse the lease if the new stadium owners refused to allow them to play there as that's in the terms of the lease by all accounts
I have no desire to see the rugby club crippled, but if the stadium is losing £1.5mill a year then it's only right that the new owners look at increasing it's income streams - as well as renting out offices, function rooms, concerts & so on it's only right & proper that the rent paid by the tenants is also reviewed.
Those tenants do include Latics though & so any rent increase should be applied equally to both clubs. That's only fair, but it's also only fair that Wigan RL pay a going rate for use of the stadium
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Bickymon1
Guest
Sticks out like a sore thumb council have for years bent over for the wurriors
Like hampton says robin park stadium paid for by tax payers but given for free to the wurriors
Why not given to both clubs
Coddenchips
Vital Reserves Team
So you're just speculating?
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Bickymon1
Guest
Agree with what you say, but wurriors are paying peanuts at the moment and needs looking into by new owners
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Bickymon1
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Guess worded wrong a little ott but meant they get help and whatever
Balls to it cant stand wurriors or wigan council its just me i am what i am
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Bickymon1
Guest
So bahrain group had zoom chat with EFL awaiting decision ASAP
What is betting EFL say we need more info before decision can be made and do so for week or more dragging this out
What is betting EFL say we need more info before decision can be made and do so for week or more dragging this out
moonay
Vital Football Legend
And what you are needs no excuses.
Do you stack your own deck? .......sometimes the ace, sometimes the deuces?
TRUE BELIEVER
Vital Football Hero
Bicky, 99% of new and existing businesses run on some sort of loan, so borrowing money is not always a bad idea.
It all depends on the terms of the loan, it's repayment schedule and interest rate for instance. The only reason anyone on here is hesitant about the fact that a loan is being taken out to buy the club is because of the one NLF tried to impose on the club prior to the administration. As Pies'r'us pointed out the terms and conditions of that loan were ridiculously weighted against us and would have seemingly been impossible for the club to manage.
We don't know the terms of any loan that Royle/Gibson have negotiated, but I can tell you that there has never been a better time to get a loan as interest rates are at a record low. I would also imagine that if that loan is in place now then it will have been secured by personal assets of the group. They may wish to transfer that debt onto the club if their bid is successful and a takeover sealed but in my opinion that is no different to what any other bidder would want to do.
If for instance the Bahraini bid is successful whoever is in control of that bid will not be giving money to the club, they will be loaning the club the money as a Directors loan, to be paid back, as both Whelan and Choi did. Whelan converted his loan to share capital but Choi transferred the debt to NLF.
There are very few businesses in the fortunate position of being able to function without a loan of some kind, either a mortgage or an overdraft facility, both of which are quite normal. In fact if you read the accounts for the club over its lifetime you will find that the club has always been indebted in some form.
As I say it is probably the best time ever to loan money as the interest rates you can get on business loans are incredibly low, it might even be practical to use the money from a loan in an investment form and make money on it.
The point I am making is that we should not be turning away any bidder because he is buying the club with a loan, mortgage or any other funding, it is the business plan that needs to be scrutinised and their ability to repay any debt from within that plan.
I agree with what you say. But the council haven't helped Latics by allowing the rugby to use Robin Park.
I'm not exactly sure of the facts but the move included exchange for some rented buildings on Montrose Ave.
It also included the rugby moving offices to Robin Park from the DW and being allowed to open a fan area.
Both which took vital income from the stadium owners. Which as we know was already losing money.
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Bickymon1
Guest
Na skim um everywhere no time for card gamesAnd what you are needs no excuses.
Do you stack your own deck? .......sometimes the ace, sometimes the deuces?
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exiled tic
Guest
Been 12 months since i've been home and i can't work out this story!What's happened at the track?All i can remember is that the Wigan Harriers ran there,so what's changed?
TRUE BELIEVER
Vital Football Hero
I am purely speculating on this Yon Mon, but could it possibly have been that Latics wanted them to move offices under IEC. They had plans for concerts and the like at the stadium and may have needed the office space or simply not been happy sharing.
As far as the fan area goes, I don't know how much income was lost but I believe the stadium company made no charge for the use of the room and only made a percentage on the catering and bar which are out sourced.
I may be wrong on this and if anyone has the figures I will be happy to accept it being proven.
The rugby use Robin Park to train and have their offices there
They're also allowed to rent out the facility (pre covid) to bring in income.
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