NEW THREAD FOR ALL THINGS TAKEOVER | Page 13 | Vital Football

NEW THREAD FOR ALL THINGS TAKEOVER

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loudmouthblue said:
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If the 25 mill loan demand has been withdrawn and the 10.7 million debt is an inter company paper debt between two of the four WAFC operating companies that will be written off at some stage during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.
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To be honest LMB i have lost trust with these administrators, Good cop bad cop act has worn a bit thin now,when you are trying to find a buyer why accuse one group of breaking the NDA in what seems to me a disdainful way? it seems to me they have decided who they want and are blinkered to any other offers!These yanks will go away now that they have had this thrown at them ,leaving the way clear for their favourites!Leneghan looking certain now i would say!!
 
Administrators better not let their dislike of Alan Nixon fuck this up for us. Clearly the bid headed up by Ganaye is the best on the table for us. People with money headed up by someone with good experience within English football who will prioritise youth based on their interviews upon taking over Oostende.

I suspect the admins have gone public with the loan news as sort of a final call to any potential bidders to jump in. I bet they’d love someone else to emerge just so they can stick it to Nixon.

Don’t forget, it’s in the admins best interest to drag this out as long as possible.
 
Stetic said:
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.
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That’s not going to happen. The first thing Lenegan would do upon taking over is move the majority share of the stadium from Wigan Athletic Holding company (or whatever’s it’s called) straight over to one of his own companies. He’ll then probably draw up a new lease extension to safeguard the Warriors. Mark my words he won’t put a penny of his own money into Latics on or off the pitch. He’s not got the money to do so. Then as said above, if down the line anyone wanted to take us over (which they wouldn’t as we’d not be in control of our own ground), Lenegan could charge them rent for as long as we play at the DW.

If he’s the last option, then so be it if it keeps the club alive. But that’s all he should be. If this Ganaye interest is real (and I trust Nixon) then absolutely no way whatsoever should Lenegan be getting anywhere near preferred bidder status. If he does then serious questions need asking of the admins.
 
Coddenchips said:
The more I see, read and hear, the more I think it's being set up for Ian Leneghan to take over.
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If that's the case I'll be fuming, he is nowhere near the best bidders with these lot, they both are known so why come out and say they breached, with Randel on the table the admin have to accept his offer. Being stuck with Lenegan from this position is not the best for the club.
 
We went into administration one day before we would receive £2M from the league, a couple of weeks before we could have sold our players for substantially more money - all because the owner simply couldn't afford to lose any more money......

Now the same owner has written off a £24M debt!?

Who has actually won out of all this!? it is the most confusing situation I have ever seen in football. Perhaps the bet in the Philippines came in so he's flush now.

I am actually sceptical that this is good news. I can see there being a twist in this announcement and this will benefit Au Yeung somehow when we go into liquidation. I hope I'm wrong but I just don't believe a word the admins say.
 
Lots of chickens being counted before the eggs are even laid on here at the moment.

The admins statement pours cold water on the proposed bid from Ganaye, and says that they shouldn't be announcing anything. Ganaye has also muddied the waters by mentioning that according to him some bidders only want certain parts of the group.

Shit stirring perhaps?

Some posters have immediately bitten and are now speculating that this is the Lenegan bid. We don't know that it is and speculation like this could deter him from wanting to proceed with what could be a decent option for both clubs given the vitriolic responses.

On the good news front is the fact that Au Yeung has been persuaded to drop his claims and that the other £10.7 million owed to the stadium company will be written off making us a far more attractive option to buy.

I have said on another post that I will not get excited about a possible bidder until the admins give a statement confirming, but I am more optimistic about our survival given the latest turn of events. I will still wait for news as there have been too many false dawns but I am now more hopeful than I was a week ago.
 
C_Latic said:
That’s not going to happen. The first thing Lenegan would do upon taking over is move the majority share of the stadium from Wigan Athletic Holding company (or whatever’s it’s called) straight over to one of his own companies. He’ll then probably draw up a new lease extension to safeguard the Warriors. Mark my words he won’t put a penny of his own money into Latics on or off the pitch. He’s not got the money to do so. Then as said above, if down the line anyone wanted to take us over (which they wouldn’t as we’d not be in control of our own ground), Lenegan could charge them rent for as long as we play at the DW.

If he’s the last option, then so be it if it keeps the club alive. But that’s all he should be. If this Ganaye interest is real (and I trust Nixon) then absolutely no way whatsoever should Lenegan be getting anywhere near preferred bidder status. If he does then serious questions need asking of the admins.
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You do realise that Ganaye is not a bidder? He fronts business men interested in buying - and his contacts reportedly span into Asia. Why would anyone rather a foreign backed ownership after what we have just been through...

These ideas that "Lenegan just wants the stadium" are mental - what do you think any other bidders want!? Then again I did see that Ganaye and his mates are life long Wigan fans and they just want to buy us for the love of the club.....
 
loudmouthblue said:
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.
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Because it's all managed to be resolved ....... but at this point, we have no owners. Hopefully, that's will soon be remedied.
 
loudmouthblue said:
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.
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exactly!

nothing stacks up. As far as I can see the owners would have been far better off waiting till the end of the season, selling a load of players and putting the club up for sale! makes no sense.
 
As upset as the Admins appear to be won’t they be duty bound/legally bound to accept the highest bid?

If that is from the Ganaye/US group (and we’ve currently no way of knowing) they couldn’t be allowed to spit the dummy and reject it in favour of Lenagan’s or AN Others bid if indeed they were lower bids ...could they ?
 
TRUE BELIEVER said:
...... Ganaye has also muddied the waters by mentioning that according to him some bidders only want certain parts of the group.
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That's a very good point TB. I hadn't clocked that the statement had come from him (or someone in that network). For some gawping reason, I'd read it as coming from the Admins.
 
Zeb2 said:
As upset as the Admins appear to be won’t they be duty bound/legally bound to accept the highest bid?

If that is from the Ganaye/US group (and we’ve currently no way of knowing) they couldn’t be allowed to spit the dummy and reject it in favour of Lenagan’s or AN Others bid if indeed they were lower bids ...could they ?
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They will take the highest bid. There will be no favouritism.

They have said today that there is no firm bid lodged by Ganaye and Co. and that what has been reported is speculation, however should the bid materialise they would have to take it into account, along with the other serious bidders still in play.
 
moonay said:
That's a very good point TB. I hadn't clocked that the statement had come from him (or someone in that network). For some gawping reason, I'd read it as coming from the Admins.
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Came from him and I can only assume that it is an attempt to turn peoples opinions and favour his possible bid. Bit of a sneaky tactic in my view, and obviosly one that has upset the admins.
 
latics_ed said:
You do realise that Ganaye is not a bidder? He fronts business men interested in buying - and his contacts reportedly span into Asia. Why would anyone rather a foreign backed ownership after what we have just been through...

These ideas that "Lenegan just wants the stadium" are mental - what do you think any other bidders want!? Then again I did see that Ganaye and his mates are life long Wigan fans and they just want to buy us for the love of the club.....
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Do your research you doughnut. These aren’t chancers or professional gamblers. These are experienced campaigners in sport. They’ve ran a MLB team (who compete regularly against two of the biggest franchises in world sport on a fraction of their revenue) and one of them still has a stake in the franchise. They already own a football club and have sent someone over with football experience who was looked upon very fondly by Barnsley fans as their frontman.

Go and google search their Oostende takeover and read their plans upon taking over the club when interviewed and tell me that isn’t exactly what is required at Latics. Most importantly they have the money to keep us financially secure should any stormy waters emerge going forward (e.g a second wave of Covid).
 
TRUE BELIEVER said:
Came from him and I can only assume that it is an attempt to turn peoples opinions and favour his possible bid. Bit of a sneaky tactic in my view, and obviosly one that has upset the admins.
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Sooner admins are gone the better 500 an hour at the apeal cost 500k and lost 10k a day
I'm not bothered about who said what as long has we get the best deal for wigan athletic and the fans
And no way do I want the latics to ever be at the beck and call of the wurriors owners
 
FrancosLoveChild said:
Admins shouldn't be making petty attacks on journalists public, the good news regarding the loan is enough and all we need to know if there is an update. Nixon knows more than what they are telling us. Starting to lose abit of trust with these admins, especially if they let this influence a decision regarding their bid.
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How are we in admin if we don't owe anything? I reckon we have money in bank once creditors are paid. If that Chinese fella had waited two weeks could he not just have got 6 million for Robinson and balanced books before selling us for buttons?
 
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