IEC Changes | Page 5 | Vital Football

IEC Changes

#81
Same guy involved but different set-up. Besides we don’t know who else will come in with him
Do we think that the bloke investing millions into the club whether its his own money or his business money will get people him he thinks will be detrimental.
He bought latics not for it to fail, his investment is not indicative of someone going to run it into the ground and flog off what's left.

It may be that he has owned the club for a year and realises that we need more money to progress and that he isn't able to invest the money whilst the club is part of a PLC, and by taking it out of that situation allows for more flexible and faster means of getting the money in. By opening up another 49% for investment may be that he has investors lined up thats why he is doing it now.
And by doing it this way that investment goes straight to the club. Otherwise the investors would have to buy into the PLC and getting this money to latics would mean having to inform shareholders and the Hong Kong stock exchange why that money into the PLC was going to the football club. Which the shareholders may not like, and that will impact on his main business.

Latics was always a seperate business to JJB or DW, within a private company. Whelan sold some shares in JJB for the stadium and for funding the club. Its the same model.


He is not Anderson or the many people that bought and sold Portsmouth.
 
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OnLoanfromEnfield

Vital Squad Member
#82
Someone on twitter has posted this little update from IEC

https://www.ientcorp.com/attachment/pdf/1576231552LfkKp.pdf

snippets ... the document ,to read, is not long or overly wordy. The deal may still not happen though.

"The Board hereby announces that further to the MOU dated 18 November 2019, the Company and NLL entered into a supplemental memorandum of understanding (the ‘‘Supplemental MOU’’) in relation to the Possible Disposal on 13 December 2019 (after trading hours). "

"the consideration for the Possible Disposal of the entire issued share capital of the Target Company shall be GBP17,500,000 (equivalent to approximately HK$183,925,000)"

"pending completion under and pursuant to the Definitive Agreements, the Company shall continue to provide funding to the Target Company’s indirect subsidiary, Wigan Athletic A.F.C. Limited (the‘‘Football Club’’), to enable the Football Club to maintain and continue its day-to-day business operations provided always that the aggregate amounts of the loans provided and to be provided by the Company to the Football Club and which shall be due and owing by the Football Club to the Company as at the date of completion under and pursuant to the Definitive Agreements shall not, in any event,exceed GBP26,500,000 (equivalent to approximately HK$278,515,000; "
 
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jeffs right

Vital Squad Member
#83
Yes they would sack this clown of a manager before it’s to late or we will find out next season when they pull out when we go down
Or sack the clown of a chairman who hasn't even got the manners to communicate and reassure the supporters. Supporters who have been around this club for years not just ten minutes like Royle, his hangers on and his out of his depth manager.
 

king_dezeeuw06

Vital 1st Team Regular
#91
If we are getting a director of football that could be a very good or very bad thing depending on who it is. Get the right man with vision and a genuine eye for talent and you can build the club into something great. But if you get the wrong man it can lead to all sorts of problems with recruitment and clashing with the manager. It will be a big decision.

Considering Cook doesn't seem like he is willing to play the players 'bought for him' I can imagine he wouldn't be keen to work under a DOF.
 

Hampton

Vital Squad Member
#92
If we are getting a director of football that could be a very good or very bad thing depending on who it is. Get the right man with vision and a genuine eye for talent and you can build the club into something great. But if you get the wrong man it can lead to all sorts of problems with recruitment and clashing with the manager. It will be a big decision.

Considering Cook doesn't seem like he is willing to play the players 'bought for him' I can imagine he wouldn't be keen to work under a DOF.
Not surprising at all as any competent DoF would recognise in a moment that 🤡 is not fit for purpose.