Sounds a bit Ominous
- Thread starter ZAKKY
- Start date
With different circumstances it's difficult to directly compare but all Administrators are only going to have the same tools and process to follow so it will likely be the interest and behaviour of the buyers that dictate what they do.
Admin already confirmed that they could start the season still in charge if required to get a deal complete but also understandably confirmed if there was no deal close they couldn't prove the means to complete the fixtures. Bolton only started the season in admin as the deal was close while Bury didn't have any suitable buyer in play. It will be the same with us or any club.
None of us know what is happening behind closed doors with our Admins and how it compares to what other Admins. But it's crisis management even worse than normal with Covid and the EFL appeal fiasco - so they can probably only play the hand they've been dealt with little wiggle room to make different calls.
I said earlier I don't think we should see admin as our friends helping us out of kindness or enemies trying to uncaring exploit us - they are just the guys brought in to organise the process.
On arriving they said they have never lost a club and we're confident they would find a buyer - they won't want a failure on their cv so we have the same end goal. Admin don't want to see us go bust and will do what they can to avoid it - but if a deal is looking that unlikely they will pull the plug.
Admin already confirmed that they could start the season still in charge if required to get a deal complete but also understandably confirmed if there was no deal close they couldn't prove the means to complete the fixtures. Bolton only started the season in admin as the deal was close while Bury didn't have any suitable buyer in play. It will be the same with us or any club.
None of us know what is happening behind closed doors with our Admins and how it compares to what other Admins. But it's crisis management even worse than normal with Covid and the EFL appeal fiasco - so they can probably only play the hand they've been dealt with little wiggle room to make different calls.
I said earlier I don't think we should see admin as our friends helping us out of kindness or enemies trying to uncaring exploit us - they are just the guys brought in to organise the process.
On arriving they said they have never lost a club and we're confident they would find a buyer - they won't want a failure on their cv so we have the same end goal. Admin don't want to see us go bust and will do what they can to avoid it - but if a deal is looking that unlikely they will pull the plug.
The point you make is absolutely key. Everyone's slagging off the admin but a bit of logical thinking tells you that if they fail to keep us afloat it will greatly affect their ability to be hired over alternative companies. They need this as well its a result based business for them too! Its not rocket science
I believe that is pretty much what happened with Bury the guy who liquidated them in the end took control when they were previously in serious financial trouble.
Without the benefit of foresight if it gets to liquidation vs questionable character we probably would have to take an uncomfortable leap of faith and hope for the best.
But if that was the option i am mindful that it could be better to go bust this summer and put us out of our misery rather than survive only to drag the agony out and die in a year or two after the club falls apart painfully and slowly. I feel we kind of finished on something of a high note with the team we had and run of results in the last few months - I'd prefer to end on that rather than do another couple of years of turmoil and losing every week in L1.
I hope we don't get there and we can get someone decent but I share the frying pan / fire concern.
Without the benefit of foresight if it gets to liquidation vs questionable character we probably would have to take an uncomfortable leap of faith and hope for the best.
But if that was the option i am mindful that it could be better to go bust this summer and put us out of our misery rather than survive only to drag the agony out and die in a year or two after the club falls apart painfully and slowly. I feel we kind of finished on something of a high note with the team we had and run of results in the last few months - I'd prefer to end on that rather than do another couple of years of turmoil and losing every week in L1.
I hope we don't get there and we can get someone decent but I share the frying pan / fire concern.
On that point, I think the EFL and FA should be pulling out all the stops to help Latics (and other clubs, like Charlton) who will be trying to survive in very difficult and unusual circumstances. This will be a ' force majeure' in anybody's book. Surely, the imperative for these governing bodies is to ensure the survival of all clubs under their jurisdiction. No income from gate receipts with limited TV money is going to test the resolve of many lower league clubs. The least they can do is to suspend their rule books as they stand until things return to normal....whatever that is. 😷
Don’t think this lot are telling us everything they know how much do we owe. Don’t think anyone. Knows. That’s the problem. There as to be a lot more than the 6 mil we are being told. Or a new owner would have come in and flogged Moore and a couple more and got there money back And money in the bank.
John, the only thing I'm scared they aren't telling us is that they have indeed now found that the club is liable to pay this bloody loan.
Initially, they dismissed it, but if later digging has indeed found a liability, yet they aren't saying so, then that could definitely be a big - no, a gigantic - hurdle for any prospective owner.
I pray that's not the case.
Initially, they dismissed it, but if later digging has indeed found a liability, yet they aren't saying so, then that could definitely be a big - no, a gigantic - hurdle for any prospective owner.
I pray that's not the case.
The choice is hope that they will save us and lend support to the club or dont and throw the towel in. Im as unhappy as anyone but im behind them in their attempts to save us and wont be slagging them off religiously. I want a positive outcome and I hope they do too. Im not even entering the realms of Liquidation until were liquidated if in fact we even ever are. I just can't bare that thought so will happily support anything that ensures theres a WAFC at the end of it. I dont recommend any other approach unless you want to be a stressed out nervous wreck for the next three weeks. So everyone lets do a moonay and see the positive in everything 😉
Yes I like kieffer moore but it all relative. Hes in another stratosphere to how much I love the club so yeah in a heart beat he can go and so can any player. We are bigger than 1 of 2 players. We must ensure the safety of our club long term. Players come and go and we will recover but we need to get behind the administrators instead of wasting their time with our negativity. Id rather hear nowt and get a buyer than be spoonfed irrelevant shite and go bust.
Yes I like kieffer moore but it all relative. Hes in another stratosphere to how much I love the club so yeah in a heart beat he can go and so can any player. We are bigger than 1 of 2 players. We must ensure the safety of our club long term. Players come and go and we will recover but we need to get behind the administrators instead of wasting their time with our negativity. Id rather hear nowt and get a buyer than be spoonfed irrelevant shite and go bust.
Maybe though it's nothing untoward and it's just what we've been told - none of the potential owners are willing to take on the debt and wage bill until it's cleared and below a certain amount.
Remember you have to provide proof of funds for 2 years or something along those lines after buying the club. If the club fee is 5m and they inherited a 12m wage bill plus 6m debts they'd need to have approaching 35m+ in the bank. If they wait a few weeks and only take over once the wage bill cut to the 2.5m cap and debt cleared they would only need to have 10m or so in the bank. Remember with covid and relegation income to the club is virtually nothing so the owners couldnt leverage much other than their own cash. So things like that will be a huge factor in affordability. If I was a millionaire and desperate to buy the club before we sold the likes of and Moore and Geldhardt - with the best will in the world i wouldn't be able to put a bid in until the 2 years proof of funds was under my bank balance and have to let those sales and others go through until the wage bill fitted into my budget.
Pre covid we had about 40m plus worth of players to sell and owners wouldve probably fancied taking that on to balance tge books themselves. But it looks like the market has been decimated and now selling players at what they were once worth is near impossible. So I imagine potential owners are even scared off taking on all the assets knowing they need to sell incase they can't get buyers and end up stuck with the debts and wage bill they can't afford. They will all likely want to start with a clean financial slate in this environment.
There is unfortunately no super rich sugar daddy and the guys who want us are working on a drastically smaller budget than we currently have.
Remember you have to provide proof of funds for 2 years or something along those lines after buying the club. If the club fee is 5m and they inherited a 12m wage bill plus 6m debts they'd need to have approaching 35m+ in the bank. If they wait a few weeks and only take over once the wage bill cut to the 2.5m cap and debt cleared they would only need to have 10m or so in the bank. Remember with covid and relegation income to the club is virtually nothing so the owners couldnt leverage much other than their own cash. So things like that will be a huge factor in affordability. If I was a millionaire and desperate to buy the club before we sold the likes of and Moore and Geldhardt - with the best will in the world i wouldn't be able to put a bid in until the 2 years proof of funds was under my bank balance and have to let those sales and others go through until the wage bill fitted into my budget.
Pre covid we had about 40m plus worth of players to sell and owners wouldve probably fancied taking that on to balance tge books themselves. But it looks like the market has been decimated and now selling players at what they were once worth is near impossible. So I imagine potential owners are even scared off taking on all the assets knowing they need to sell incase they can't get buyers and end up stuck with the debts and wage bill they can't afford. They will all likely want to start with a clean financial slate in this environment.
There is unfortunately no super rich sugar daddy and the guys who want us are working on a drastically smaller budget than we currently have.
