Takeover | Page 48 | Vital Football

Takeover

I haven't got anywhere near reading it all but from what i've seen it appears just as Studds said that there is a long term plan to make the club more profitable and self sustaining. To do that effectively you need to make the most out of your facilities commerically, youth system and scouting network - 3 things that we currently dont do and IEC have highlighted. If the new ownership can get those 3 things right it will be a huge step in the right direction as quite frankly over the last fews years we are probably one of the worst clubs in the Championship for producing first team players or making a NET profit on selling players. So i hope they can help us get that right as we desperately need to become much more efficient in those areas.

There was no sign of a Wolves like crazy spending spree (that i don't think anyone really expected that at this point) but with FFP and the way that so many clubs like Bolton end up in financial meltdown i dont think that having a more pragmatic long term growth plan rather than a high risk / high reward short term plan. It also seems like the new ownership are under no illusions that they are experts in football are going to be heavily leaning on the Royles and the other people already here when it comes to the football side of thing. They also say keeping a good relationship with Paul Cook is key so i dont think they will be looking to interfere. They seem to realise that we are going to be challenging to get back into the Prem immediately and see this as a project that will require time and investment to pay off.
 
They’re deluding themselves or have been misguided by their advisors if they truly believe they’ll make Wigan Athletic self sustainable at this level, let alone make any profit by doing everything they say they will. The only way it can be done for a club of our sized fanbase is to get promoted to the Premier League and bank the vast TV money which will make our attendances irrelevant.
 
Tenfut said:
Think back to 2nd June 1978
Don't get me wrong DW has done wonders for the club with his financial input but, would he have come anywhere near had we remained in the Northern Premier League and not gained Football League status and there is only one man to thank for that, Arthur Horrocks who knew all the right people to canvas for the votes needed to win the election.

Summary

No Arthur Horrocks at WAFC
then
No Dave Whelan at WAFC
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Arthur was indeed a good chairman, Tenfut, and probably is probably deserving of the credit for getting us into the league, however I would still argue that DW has done more for the club due to his financial clout and ability to take us forward. I seriously doubt that we would have made the gains we have over the years without that financial backing, which Arthur didn't have. I accept that DW would probably have never been involved with us if we hadn't had league status but regardless of this it could be argued that without DW's millions we would be back in the non leagues.
 
Ive read that piecemeal throughout the day so maybe Ive misinterpreted parts due to a lack of full concentration.

Despite initially being enthused a year ago in regards this takeover I am now somewhat concerned. It's clear they haven't got a clue about running a football club in England and less so about running ours.

Whilst I admire their intent and ideas to increase revenue streams ultimately they won't increase anywhere near the level I suspect they think they'll achieve to justify this purchase. Certainly not on the back of our name. The only way that happens is via promotion to the top flight and that will require a significant capital injection to improve the playing squad and even then there is no guarantee of success. I think I read they are having to take out a bank loan to cover the running costs of the entire group for the next 12 months so significant player investment seems unlikely. That said I'm certain new contracts will be on offer shortly before the assets walk out of the door.

Going forward I have significant concerns about the longevity of their interest and ownership of us. In less than a generation it's quite conceivable our club ceases to exist.

Plus what's happened to Brenda?
 
Give it six months before they truly realise what they’ve let themselves in for financially. Give it two years absolute tops before they’ve had enough and offer the club to every rich bloke in the Far East in return for their money back and a small profit.

If we get relegated under these lot and the banks start turning the screws on them then god help us, it’ll be bucket time all over again.
 
Somehow can't see that happening CL. Why would you persist with a takeover that has taken so long if you are not committed to it. Surely if they are not going to stick it out they would have pulled out earlier.
 
cl did you really say you saw that iec where actually going to take out a huge loan or was it a piss take ?
 
Their model for success is unearthing a load of kids to play for us and then sell them, And at the same time get promoted to the Premier lge,

Ir seems reasonable if you say it quick but with a little analysis it has its faults.

Kids take time to develop years and years before they are in the first team, and if you sell them you need more of the same standard just to stand still.

In the mean time the cub is losing, did i read 700000 a month? Is that what Whelan was putting in?

They also want to make more money from the stadium, concerts etc in the close season as the report says, That stadium doesnt not have a close season. I really hope they know what they are doing and on the entertainment front they must do its what they do,

The premier lge seems a long away off now, the report does appear to indicate the lack of expertise in footballing matters, but thats why they hired Joe Royle and his son
 
TRUE BELIEVER said:
Somehow can't see that happening CL. Why would you persist with a takeover that has taken so long if you are not committed to it. Surely if they are not going to stick it out they would have pulled out earlier.
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Like I said, I don’t think they quite realise what they’re getting into with us. It’s akin to financial wasteland. They’ve probably been sold a dream by the Royles. Just wait until they’re responsible for every bill, which keeps getting bigger every season and wait until that loan runs out. Then it’s judgement day!

We cannot remain as we are in the Championship. We are currently set to lose around 10 million this financial year (a parachute payment sized hole). We will never make a profit while we are in the Championship.

There are only two ways this club can make a profit in a financial year from here on in whether it be under Whelan or IEC. The first is get promotion to the Premier League and secure a nine figure bounty which will immediately put the club in credit. This is the way I’m sure the new owners and fans will desperately want to see happen.

The second way is to slash the budget completely both on and off the pitch to bring the club in line with its average home attendance (not counting away fans). Of course the major problem with this plan, is that it basically sentences us to Championship relegation and eventually sees us bottom out most likely as a midtable L1 side with no hope of ever going further in the future than perhaps a fleeting season in the Championship, before going down again due to the inability to compete financially in that league on our gates.

As MiW says I respect the new owners have ideas to try and make money. Concerts at the DW for example is a good move and should have been done a long long time ago! But I’m afraid a few gigs aren’t going to be enough to save us from the inevitable losses.
 
A few weeks ago I was talking to a guy with some info regarding the plans for the future. He was telling me that plans were afoot to turn the former "chippy" into the clubs offices and to extend the facilities inside the stadium to accommodate more corporate hospitality. Moves to update the stadium and its seating were also being planned. There was money to be made available to strengthen the squad for a push for the premier league within the next three years and hopefully a European challenge within six. I did not believe him. However having read some of the documentation provided with the takeover, Who knows.
 
The miserable manners are out already. The plans at look good and exciting and while football is a funny old game with no certainties i am looking forward with hope and will enjoy the race. Be happy?
 
TRUE BELIEVER said:
A few weeks ago I was talking to a guy with some info regarding the plans for the future. He was telling me that plans were afoot to turn the former "chippy" into the clubs offices and to extend the facilities inside the stadium to accommodate more corporate hospitality. Moves to update the stadium and its seating were also being planned. There was money to be made available to strengthen the squad for a push for the premier league within the next three years and hopefully a European challenge within six. I did not believe him. However having read some of the documentation provided with the takeover, Who knows.
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Probably the same one that me a load of bollocks about their investment six months or so back.

Bottom line is they aren't awash with cash and we don't generate enough to sustain a mid table championship club consistently. They have no bond or allegiances to the club. Given that when the reality dawns they're endless pissing money up a wall in some indistinct town in northern England they'll bugger off far quicker than what it took them to buy the club in the first place. I'll be surprised if we aren't in administration in the next 5 years.
 
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