Admin update | Vital Football

Admin update

ZAKKY

Vital 1st Team Regular
#1
By @Begbies

1. Appeal against the 12-point penalty given to the club for being in administration

The appeal commenced at 9am today (31 July) before an independent tribunal.

Joint administrators Paul Stanley and Gerald Krasner both gave witness statements and were cross-examined. The appeal concluded with judgement reserved and a further update will be given when the outcome of this appeal is known.

2. Supporters' financial support

The joint administrators would like to thank the club’s supporters, who have made a further financial contribution this week, to enable the payment of staff wages today (31 July).

3. The sale of the club

The joint administrators have had further detailed talks with bidders, which are likely to continue over the course of this weekend and the early part of next week.

4. Player sales

The joint administrators are continuing to consider offers for players in order to reduce the substantial wage bill and to benefit the football creditors who are estimated to be owed in the region of £6m. This is deemed crucial to the successful sale of the club.

5. The investigation

The joint administrators confirm that, at their request, Mr Au Yeung has had a Zoom meeting with Mr Krasner. This meeting lasted over an hour and the information provided by Mr Au Yeung assisted with the arguments presented in the appeal against the 12-point deduction. The investigation is continuing.

The joint administrators wish to reiterate their thanks to the players, staff and supporters of the club as well as the people of Wigan, who have been resoundingly supportive of their efforts to secure the club’s future.
 

Made in Wigan

Vital Football Hero
#6
I suppose a positive from that statement is that there are ‘bidders’ - though maybe it could be construed as a negative that there isn’t a front runner as they wanted it wrapped up today (though that was optimistic without knowing the appeal result)
 

moonay

Vital Champions League
#7
I suppose a positive from that statement is that there are ‘bidders’ - though maybe it could be construed as a negative that there isn’t a front runner as they wanted it wrapped up today (though that was optimistic without knowing the appeal result)
It seems just that the initial preferred bidder weren't willing to commit to depositing the (non-returnable) £100k. Understandable I suppose.
 

Made in Wigan

Vital Football Hero
#8
It seems just that the initial preferred bidder weren't willing to commit to depositing the (non-returnable) £100k. Understandable I suppose.
Yep, too much uncertainty, though weren’t we on with the second preferred bidder earlier in the week? Should have clarity soon I guess once appeal result known. I thought the admin said they’d update us Saturday - so surprising they have done so this evening.
 

moonay

Vital Champions League
#9
Yep, too much uncertainty, though weren’t we on with the second preferred bidder earlier in the week? Should have clarity soon I guess once appeal result known. I thought the admin said they’d update us Saturday - so surprising they have done so this evening.
As none have got to the point where they've been given exclusivity (ie depositing the £100k), I wouldn't be surprised if the Admins are still speaking with them all.
 

pies'r'us

Vital Youth Team
#15
One wonders if the delay in announcing the result is to let their paymasters, the EFL, know if what they've decided is acceptable ?
That sounds a teeny weeny bit sarcastic to me... Who would ever think things like that can happen in this day and age and especially after the Sheffield debacle oops, sorry I meant 'decision'.
 

jeffs right

Vital Squad Member
#17
One wonders if the delay in announcing the result is to let their paymasters, the EFL, know if what they've decided is acceptable ?
Of course it is. Just like the Sheffield Wednesday announcement last night.
Bent corrupt bastards. Rotten to the festered core.
We remember all those years knocking on the door to get in their shit house club and the moronic pricks have resented us ever since.
Bollocks to them.