Takeover | Page 50 | Vital Forums

Takeover

C_Latic

Vital Squad Member
The Post haven’t done their research because as we discussed months ago on here, Garry Cook left his “non executive director” role to become chairman of a global UK based eSports company. He’s had nothing to do with this takeover for a long time now.
 
The Post haven’t done their research because as we discussed months ago on here, Garry Cook left his “non executive director” role to become chairman of a global UK based eSports company. He’s had nothing to do with this takeover for a long time now.
Have to say the Post has been seriously lacking all through this takeover,starting with their statement that the Cheng family still owned IEC when a few on here found that just a bit of research led to the actual owners! From then on Mr Kendrick and Co have been pretty useless
 

C_Latic

Vital Squad Member
Have to say the Post has been seriously lacking all through this takeover,starting with their statement that the Cheng family still owned IEC when a few on here found that just a bit of research led to the actual owners! From then on Mr Kendrick and Co have been pretty useless
I remember that. Absolutely shocking journalism! To get such basic information wrong for such an important topic was amateur hour. Thankfully it’s been many years since I actually paid money for that rag.
 
I remember that. Absolutely shocking journalism! To get such basic information wrong for such an important topic was amateur hour. Thankfully it’s been many years since I actually paid money for that rag.
I can't remember the last time I bought the WEP. I did get the Obby the week after the Cup Final for obvious reasons, but have not bought it since.
 
Getting back to the takeover - I think that not putting a load of money in right away is actually the right thing to do - other teamsag try it on with transfer fees if they know there's money to burn, plus I don't think the playing squad needs drastic changes as it is right now, aside from perhaps signing Steven Caulker to a short-term deal with a view to extending beyond the current season, we're on course to avoid relegation from the Championship.
 
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That's directly from the document, which then goes on to name the board members from CEO down. I think something else has been inferred from the document, although I do concede that Kendrick may know something else.
This is directly from the document too (Page 35).

“As at the Latest Practicable Date, apart from Mr. Joe Royle and Mr. Darren Royle, the Company has not identified any other personnel to join the board or the management team of the Target Company. However, the Company does intend to recruit other professionals to strengthen up the board and the management team of the Target Group after Completion.”

The club website also still lists Gary Cook as a non-executive Director.

https://www.wiganathletic.com/club/contacts/
 
This is directly from the document too (Page 35).

“As at the Latest Practicable Date, apart from Mr. Joe Royle and Mr. Darren Royle, the Company has not identified any other personnel to join the board or the management team of the Target Company. However, the Company does intend to recruit other professionals to strengthen up the board and the management team of the Target Group after Completion.”

The club website also still lists Gary Cook as a non-executive Director.

https://www.wiganathletic.com/club/contacts/

Key passage - has not identified any other personnel.
 

bickymon

Vital Reserves Team
Im more concerned about the story going around that IEC are actually taking out a loan to buy our club
Even worse that they feel the squad does not need any investment and make do with what we have
Obviously they where not at the preston game
My worries are have IEC basically just got their hands on prime building land for other future projects think we should be a little concerned with this one
 
I do understand your concerns Bicky, they're quite valid. I think what IECorp seems to be prudent financially. I don't want an owner to chuck money like slinging mud at the wall, hoping some sticks. It's much more the gradual evolution of our club, than uprooting good work done. I'd say, let's get the deal over the line, ratified before January's transfer window, where hopefully we're in the top 10 and some new commercial and corporate sponsorship opportunities have been worked into the business model.

Darren Sharpe is the key hire here I feel. A lot is riding on him doing well for us.
 
Im more concerned about the story going around that IEC are actually taking out a loan to buy our club
Even worse that they feel the squad does not need any investment and make do with what we have
Obviously they where not at the preston game
My worries are have IEC basically just got their hands on prime building land for other future projects think we should be a little concerned with this one
It’s not unusual to take out finance for major purchases. Your money goes a lot further invested elsewhere. It will not be taken out against the club.

The circular states there will be investment in the squad if it makes sense to achieve our goals. But medium to long-term the target is to develop our own.

I don’t understand the building land argument. The stadium can’t be touched. Sharpy’s building/location is useless for anything but a restaurant or retail store. If Euxton had value beyond its use as a training ground Bolton wouldn’t have sold to us for a few million. I don’t know about Christopher Park but it’s not exactly prime land for luxury flats. Not even sure if either of the training grounds can be sold by us as they’re on something like 50-100 year leases.
Key passage - has not identified any other personnel.
Unless I’m missing something that just indicates the full board will be revealed later. That’s maybe where the Spencer story comes from too. I don’t know if Sharpe will retain his position as Chairman. I would suggest that’s unlikely as it’s likely someone from IEC. But Kendrick and co. are hinting he will have a place on the board.

Same goes for senior management. People will need to be brought in to fill new roles.
 
I think he means the land around the stadium, which Whelan owns. If they wanted to they could sell some of that or begin development of something with it. Similar to what readings owners are doing with the land around their stadium. Which incidentally wasn't we one of the clubs they was apparently looking to invest in before they bought reading? Around the time Whelan decided to retire and let Sharpe run the club. Which was probably because they would of done the same with land around dw that they are doing with the land around the Madejski stadium.
 

Yon Mon

Vital Squad Member
It'll be interesting what Sharpies is turned into. I don't think a meeting place for fans before and after games would work.
Possibly most of the people who would go are the ones who go into the supporters club under the South Stand. So it would just mean taking profit from one place to another.
A bigger club shop would make more money than the one we already have but would only be open 4 or 5 times a month during the season.
Regarding using the stadium for concerts etc. I'm sure when the ground was built Whelan didn't have the necessary safety features installed or the council wouldn't agree to it due to being near a residential area. I'm not sure which.
I think regarding our future board i can see someone from IEC being chairperson with Joe Royle in an advisory position.
There could be a place for David Sharpe as director of football.
What concerns me is Darren Royle 's position. He 's also an agent so does that mean we could be lumbered with his players?
 

bickymon

Vital Reserves Team
If you look at it that way daren royle could well use wafc for his players like a shop window
Good for him and IEC but for us annoying as we will get used to players just to see them flogged off like cattle in a market on a larger scale than we have under whelan
To be honest i was hoping we would get new investment to enable us to keep hold of our star players and go forward
Now i look at it as just a money making project for darren and IEC
 
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Im more concerned about the story going around that IEC are actually taking out a loan to buy our club
Even worse that they feel the squad does not need any investment and make do with what we have
Obviously they where not at the preston game
My worries are have IEC basically just got their hands on prime building land for other future projects think we should be a little concerned with this one
i think your correct
 
Can’t be having it both ways.

Thread started with people saying IEC are walking in with their eyes closed. A foolish purchase that will lose them millions. Now Wigan’s a property hot bed. So much so it was worth spending £22m (or more) to get their hands on it. Now additional millions from player transfers. Makes you wonder why Whelan wouldn’t hold on if it was such easy money.

Bottom line is for anyone to make significant money out of Latics’ we’d have to be doing exceptionally well on & off the field.