They certainly don't make these things easy to read for the standard person, but if anyone is specifically interested in what it said about Wigan over the 26 pages it's pasted below. I don't think there's anything we haven't seen mentioned in previous statements, with the most football specific part saying - The Group will firstly invest and develop the football performance operation at academy and first team level, and will look to develop further the football performance model around elite performance and academy development to support the 1st team club operation. I imagine Joe Royle is being brought in to oversee the implementation of this new 'model' and it's good to see academy development seems to be central to that.
'On 21 May 2018, the Company and Hamsard 3467 Limited (“Hamsard 3467”), an investment holding company incorporated in England and Wales, which is an indirect subsidiary of the Company, entered
into the Share Purchase Agreement pursuant to which Hamsard 3467 has conditionally agreed to acquire the entire issued share capital (including both ordinary shares and preference shares) of Wigan
Athletic Holdings Limited, a private company limited by shares incorporated in England and Wales and the shareholding of the Trustees of the Whelan Family Bare Trust in Wigan Athletic A.F.C.
Limited, a company incorporated in England and Wales.
On the same date, the Company and Hamsard 3467 also entered into the Property Agreement A, the Property Agreement B and the Property Agreement C with the Property Seller A, the Property Seller B and the Property Seller C respectively for the acquisition of the Property A, the Property B and the Property C.
The capital commitment for this acquisition is the aggregate of:
(i) £15,900,000 (equivalent to approximately HK$169,494,000); and
(ii) the Working Capital Loans (in any event not exceeding £6,475,000 on the basis that the Long Stop Date was extended to 31 January 2019) (equivalent to approximately HK$69,023,500), which shall be settled by cash. Further details are set out in the announcement dated 21 May 2018.
(b) On 15 June 2018, VMS Private Investment Partners VIII Limited (“VMS VIII”), a direct wholly-owned subsidiary of the Company, as limited partner, entered into the Subscription Agreement and the
Limited Partnership Agreement with the General Partner, pursuant to which VMS VIII agreed to subscribe for the Interest in the Fund and commit a capital contribution of EUR26.20 million (approximately HK$242.35 million) to the Fund. Further details are set out in the announcement dated
The Group plans to acquire Wigan Athletic Holdings Limited, which operates Wigan Athletic Football Club based in Wigan, Greater Manchester, England and a sport stadium namely DW Stadium, with conference and other facilities. The Group will also acquire three
properties, such as disused restaurant adjacent to the DW Stadium, sports academy facility and sports training ground. The Group will firstly invest and develop the football performance operation at academy and first team level, and will look to develop further the football performance model around elite performance and academy development to support the 1st team club operation. On the football business side, the Group will implement a business plan around increasing match day and non-match day revenues through development of sponsorship, hospitality, retail, ticketing and fan engagement strategies to increase overall turnover.
The Group believes that the deployment of expanding the above entertainment and sports related businesses will broaden its source of income and create synergies among the Group’s businesses.'