Players going forward | Page 14 | Vital Football

Players going forward

It's all a big can of worms Bradley. If anyone can work out what happened with Choi selling the club and why, and then work out what happened with a new owner who never stepped foot in the country only to put us in admin,and next work out what has happened since and why then they could write a script for an eighties American soap.
It's bewildering to say the least.
Truly is a shit situation and the worst part is, as a fan you can't really do much.
If Sunderland got a Netflix series surely Bolton or Wigan should get one too, although several other clubs could probably get a look in too, with state of things. Macclesfield have been relegated after appeal and Charlton look to be struggling too and that won't be the end of it. I don't remember seeing much in the way of Bolton's Supporters Trust attempting to raise funds to buy the club. I think they tried but there wouldn't have been enough support to pay off the creditors. I believe Portsmouth had a fan owned club but then sold partly or totally to another business in 2017.

The EFL is mad and only suits seem to have any real power in clubs and seems that more and more of these suits are chancers and leeches.

Salary caps are a start to getting things a bit more under control I hope.

My own view is, Choi is a gambler and a successful one, he thought "OK, I'll play the odds and invest briefly in Wigan and maybe it will pay off and get the Premier League riches, then IEC's shares will rise."

But he knew that's a lot of money to gamble with and unlike the casino, the odds don't necessarily have to be in favour of the house.

"If the investment doesn't pay off I'll secure myself with a ridiculous loan that I can use as leverage as a creditor. IECs shares will go back up once I ditch the company to Au Yeung and all my investment is recouped." etc etc...

I mean there could be endless possibilities to his shit and I'm assuming a lot of things probably wrongly but one thing is for sure, this stinks.

Would be interested to know Au Yeung came to appoint Begbies, I could have sworn I read that they actually wanted to liquidate before considering admin but I'm not certain on that.
 

jeffs right

Vital 1st Team Regular
Au Yeung found Begbies through his London based solicitors. He instructed them to liquidate the club but was persuaded to seek administration by Begbies and his solicitor.
Now why would anyone do that after a few weeks ownership? This just stinks to hell and the EFL found this fella to be fit and proper to own and run a football club. Words fail!!
 

NorthernSoul

Vital Reserves Team
Now why would anyone do that after a few weeks ownership? This just stinks to hell and the EFL found this fella to be fit and proper to own and run a football club. Words fail!!
He made the phone call less than 1 hour after becoming owner!! The whole thing was a planned set up months in the making that the EFL were aware of and let happen.
 

Zeb2

Vital Reserves Team
Wasn’t even a few weeks ....it was only one week after Yeung became the majority shareholder of the “pretend” company NLF.
The whole thing was such an obvious sham....still this twat strolled off sniggering and the EFL just couldn’t wait to to take a flying kick to the head of the prone body.....absolute heroes.
 

NorthernSoul

Vital Reserves Team
That 1 week was purely the delay. Administrators confirmed contact was made with them on 24th June. The very day the EFL ratified the ownership change. Factor in the HK time difference as well. Gave him a small window to make that contact.....
 
So if the new L1 season is due to start on September 12th that doesn’t give the administrator long to find a confirmed buyer because I doubt that there’s any chance Wigan will be allowed to start the season unless there is. I know in Wanderers situation we had potential buyers for both the Stadium and the hotel which would have resulted in liquidation of the club. I believe the Rugby League were interested in the stadium so i wouldn’t be surprised if Leneghan was an interested party for yours. Let’s hope your American buyer materialises soon because the clocks ticking down fast.
 
I'd be amazed if the incompetent EFL did any checks whatsoever on Au Yeung.Or any of the actual details of the takeover for that matter.
Including the terms of the ridiculously high loan amount used to purchase us.It was clear the terms of that loan,which had to be repaid with a massive 20% interest if repayments were not met (for a loss making business like ALL championship clubs)would cripple us financially.So why the hell was it allowed to happen?
Au Yeung was also previously bankrupt and I bet the EFL didn't have a clue who he was or were he was based when that deal was signed,they just saw him as a minority shareholder,who didn't matter in their eyes.

For me the EFL ratified the dodgy takeover as Choi was majority shareholder in NLF and they just thought 'we've already checked him,so we'll just wave it through'.(without seemingly checking anything else).Tics fans investigating this whole s***show and others such as pies r us have put them to shame.I really hope we get an owner,rebuild the club and sue the EFL,as this mess that they let happen to our club will cost us tens of millions of pounds.It's an absolute disgrace!
I wouldn't even be surprised if corruption was involved in all this and Choi offered the EFL a brown envelope to ratify the takeover.Look at FIFA and Sepp Blatter.
 
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I must say,i'm absolutely gutted at losing the exciting and talented Gelhardt for peanuts.That lad has massive potential and could be worth 10 times that fee in a year or two.This whole predicament is infuriating!
But I wish Joffy well at Leeds and I hope they sell him in a few years for a massive amount as it's been confirmed we have a 20% sell on clause in his contact.
 

exiled tic

Vital Squad Member
I’m sure you said we will get six point deducted. And. These owners were good. You called me enough over calling them. But hey we got a big TV. of course they are charging a fortune and I forgot the soccer dome was being turned into something great End of the day I want a team to watch again. But if this lot keep giving them away. We won’t have
Pick your toys up and put them back in the pram,Quite the most pathetic retort i've ever had,childish in the extreme!!
 

SwindonLatic

Vital Squad Member
We need to crack on with getting these players sold and the new owners in. Teams n our league started pre-season last week and have already played a couple of friendlies. Swindon are well into pre-season now. Third friendly this Saturday. We start pre-season training today not even knowing if the players taking part will be with us in a few weeks time. We will effectively be playing with a points deduction this season as we’ll be so far behind the other teams in terms of preparation - if we still have a club!
 

Danny_de_Zeeuw16

Vital Squad Member
Its a mess We just need to sell players now. If we get selling then someone can come in and pick up a relatively clean slate. So as much as I love these players we need to see the back of some of them asap.
 

Nottingham

Vital Reserves Team
Truly is a shit situation and the worst part is, as a fan you can't really do much.
If Sunderland got a Netflix series surely Bolton or Wigan should get one too, although several other clubs could probably get a look in too, with state of things. Macclesfield have been relegated after appeal and Charlton look to be struggling too and that won't be the end of it. I don't remember seeing much in the way of Bolton's Supporters Trust attempting to raise funds to buy the club. I think they tried but there wouldn't have been enough support to pay off the creditors. I believe Portsmouth had a fan owned club but then sold partly or totally to another business in 2017.

The EFL is mad and only suits seem to have any real power in clubs and seems that more and more of these suits are chancers and leeches.

Salary caps are a start to getting things a bit more under control I hope.

My own view is, Choi is a gambler and a successful one, he thought "OK, I'll play the odds and invest briefly in Wigan and maybe it will pay off and get the Premier League riches, then IEC's shares will rise."

But he knew that's a lot of money to gamble with and unlike the casino, the odds don't necessarily have to be in favour of the house.

"If the investment doesn't pay off I'll secure myself with a ridiculous loan that I can use as leverage as a creditor. IECs shares will go back up once I ditch the company to Au Yeung and all my investment is recouped." etc etc...

I mean there could be endless possibilities to his shit and I'm assuming a lot of things probably wrongly but one thing is for sure, this stinks.

Would be interested to know Au Yeung came to appoint Begbies, I could have sworn I read that they actually wanted to liquidate before considering admin but I'm not certain on that.
It really is heart breaking. I still hold Dave Whelan and co responsible. They sold out to an obvious bunch of rogues and ne'r do wells.

If Kendricks suggested listed of players we will keep is right we will only have Jones. Pearce. Evans Massey and Garner left to play in a few weeks time. How we gonna field a team in that scenario?
Good question
 
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C_Latic

Vital Squad Member
Let this sink in. Crystal Palace went into administration in January 2010 with debts of 30m. We entered administration with no debts have since racked up bills of 5m.

Crystal Palace only had to sell one player for 2.5m, which was not far from the market value and it was to us. The administrators then didn't sell anyone else despite 30m debts as they didn't want to lower the player asset value to deter new owners from buying. They were in administration for 7 months, till the end of August.

We are selling multiple players at a fraction of their value, it's a complete asset strip.
Crystal Palace stayed in the Championship on the last day and proceeded to find a buyer immediately after, a local businessman with moneymen behind him, who had committed to taking on the club very early on which massively limited the damage and allowed room to manoeuvre for the administrators.

We on the other hand got relegated on the last day and have nobody actively trying to buy us, and most importantly, showing their money to the administrators. Certainly nobody as committed and with the money that Steve Parish had behind him. If there was then just like with Crystal Palace, we wouldn’t be selling assets right now just to pay bills. Instead we would be holding out for a takeover to be completed, which would then lead to the new owner putting their own money in to pay wages/creditors rather than money raised by the further selling of assets. The reason it’s happening is because unlike Crystal Palace, our administrators do not foresee anyone taking over the club before the next payday.
 
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