What’s going on?

[TRUE BELIEVER]

Does anyone know if anyone has started a collection page or fund to attempt to raise any cash to either help towards the purchase or the running of the club?

 

[moonay]

Does anyone know if anyone has started a collection page or fund to attempt to raise any cash to either help towards the purchase or the running of the club?

Paul Kendrick's asked a basic question on twitter, but I've seen nowt else.

The figures are massive though. Not just the purchase price, but the monthly running costs.

 

[WarrenBluffit]

Thanks for your interest in our club Warren. Given the shit that was written on here when your club had its problems I am surprised to get any sympathy.

I do believe that there is a significant difference between our admin and Boltons in that as a club we are not in significant debt ( that we are aware of) and there has been no sign of any creditors chasing us for large amounts of unpaid bills.

If the clubs debts are reasonable then that significantly improves our chance of a new owner coming forward. The problem Bolton encountered was that Anderson had secreted debt away and even your administrator had problems untangling the mystery. Up until the final hours FV were still trying to unravel the accounts to find out what was owing.

Given the administrators statement over our problems it would appear that the problem is purely down to the fact that the new owners have pulled financial support leaving the club short of cash for day to day running. There does not seem to be the historical debt that caused the problems for your club.

We are in a much better position than Bolton were and look to be in a position to be able complete our fixtures. Hopefully our form will carry us through and the 12 point deduction becomes meaningless.

I would like to see the clubs who have been affected by unscrupulous owners, Wigan, Bolton, Bury etc. , get together and petition their local MP's and the Mayor of GM to force the EFL to clean up its act and effectively manage these changes of ownership perhaps by having owners contribute to some sort of insurance backed fund to prevent these crooks from ruining our clubs. They could also be asked to provide a security bond of some form which would deter anyone wishing to come in and make a quick buck from ruining the lives of Fans, Players, Managers and Club Staff.

it’s understandable some will take the opportunity to have a pop at other neighbouring clubs when they hits snags TB but hopefully the majority of us are firstly football fans and secondly club fans so taking the proverbial out of us went with the territory. Having been through it though we can appreciate the feelings you have and can only hope you come through it unlike Bury.

As you rightly say, our finances were in a much worse state than yours which should make a big difference to finding a genuine owner. The problem is that like ourselves, things came out that weren’t known, debts that were promised to be paid weren’t so let’s just hope in the short time your owners were in charge they didn’t load anything nasty under the counter.

I like your idea of clubs getting together, maybe through supporters clubs or trusts to lobby MPs like Lisa Nandy because this old friends club called the EFL is surely unfit for purpose. The COVID situation has illustrated yet again how allowing clubs to push their own agenda these days is no way to run football. Surely there must be an Independent body appointed to rule on serious issues. Right now there isn’t so let’s hope a sale can be completed soon and you can get back to supporting your team and also survive in the Championship this year.

 

[Th10]

The problem is player wages (not that they’re to blame as I’d love to earn thousands of pounds a week). It accounts for more than the club turnover, this is the case at quite a few Championship clubs. Football needs a reality check, unfortunately it seems to be us that are the first to suffer. What financial position would the club be in if their was some sort of salary cap, say £5k a week per player? I know the club was screwed over but there’s no way we should have budgeted for losing £1mill a month and relying on someone putting money in to cover things. The club should needs to be able to run itself in the future,if that means going back to where we started the so be it. As long as there’s still a club then that’s the most important thing, I’d hate to see another Bury.

 

[Nottingham]

it’s understandable some will take the opportunity to have a pop at other neighbouring clubs when they hits snags TB but hopefully the majority of us are firstly football fans and secondly club fans so taking the proverbial out of us went with the territory. Having been through it though we can appreciate the feelings you have and can only hope you come through it unlike Bury.

As you rightly say, our finances were in a much worse state than yours which should make a big difference to finding a genuine owner. The problem is that like ourselves, things came out that weren’t known, debts that were promised to be paid weren’t so let’s just hope in the short time your owners were in charge they didn’t load anything nasty under the counter.

I like your idea of clubs getting together, maybe through supporters clubs or trusts to lobby MPs like Lisa Nandy because this old friends club called the EFL is surely unfit for purpose. The COVID situation has illustrated yet again how allowing clubs to push their own agenda these days is no way to run football. Surely there must be an Independent body appointed to rule on serious issues. Right now there isn’t so let’s hope a sale can be completed soon and you can get back to supporting your team and also survive in the Championship this year.

Lisa Nandy is speaking well on our behalf, putting pressure on whoever runs the EFL to drop any idea of points deduction. If anything, the fickle finger of fault should be pointing in their direction. They were too ready to pull the trigger in the case of Bury fc in my humble opinion.

 

[Made in Wigan]

Paul Kendrick's asked a basic question on twitter, but I've seen nowt else.

The figures are massive though. Not just the purchase price, but the monthly running costs.

True they are. I suppose if the cash raised covered even a few weeks running costs then it may buy a little time for any purchase to be concluded.

 

[Made in Wigan]

Lisa Nandy is speaking well on our behalf, putting pressure on whoever runs the EFL to drop any idea of points deduction. If anything, the fickle finger of fault should be pointing in their direction. They were too ready to pull the trigger in the case of Bury fc in my humble opinion.

Yeah, I’ve seen what she wrote and fair play to her. I hope she can keep the pressure on. I’m going to write to my MP Lindsay Hoyle tomorrow in the hope he can apply some too as our training ground falls under his jurisdiction. He maybe able to use his position to go direct to Dowden and look at getting an independent enquiry set up looking at the Efl, as this organisation really isn’t fit for purpose any more.

 

[Th10]

The sad thing is if we all chipped in a quid it would probably only pay one players wages for the week. In the real world it would cover someone’s salary for a few months at least. We need someone with very deep pockets who is willing to lose some of their money and not expect to get it back.

 

[BradleyWigans]

Hey all Wanderer here, don't worry I haven't come to rub it in.
Just wanted to offer some words of empathy for you.

Without giving you our whole backstory, I know what it's like to go through admin as a fan. Literally everyday I was checking forums and social media looking for any positive information.

The thing is, every situation like this is unique so there is no quick fix for anything, it would be nice if Dave Whelan came in as a knight in shining armour, but really you're just delaying the problem. Better than going bust though, obviously. Eddie Davies had to prop us up even when Ken was the owner!

There will be people that claim to be ITK, but ultimately it all means very little until it's all sorted out. People seemed to be making up rumours to suit their own agenda, whether that was Bassini, Ken or just random people on social media.

My advice would be, show support for Wigan, do what you can to raise awareness of the absolute sh1tshow that is the EFL and also the owners that have screwed you. There needs to be major reform of the system where clubs aren't allowed to run up ridiculous debts. I think there's a system in American football where all clubs get the same revenue and the clubs that do worst get "first dibs" on rookies coming out of college. Obviously football is a lot different to the structure over there but it shows things can be done in a fairer way. I digress.

I would also advise against driving yourself mad checking social media/forums everyday for news about what's going to happen next, obviously it's good to be kept in the loop, but these things take time, ours started at the end of the championship season and we were still in a mess 6 games into the league 1 season!

Don't want to be a doombringer at all, I do believe and hope that you will get sorted out, whether it's DW or someone that can at least keep the club going until better investment gets found.

At the end of the day, this is bigger than Wigan, it's a systemic problem but unfortunately you'll have to endure pain through this process and it sounds like a very complex one, one that you may not get all the answers you're looking for.

I hope you get sorted but as I say, don't expect to come out of this as quickly as you went in. This could rumble on for months, as long as you get through the rest of this season, I think you'll make it out. Best of luck.

 

[Nottingham]

The sad thing is if we all chipped in a quid it would probably only pay one players wages for the week. In the real world it would cover someone’s salary for a few months at least. We need someone with very deep pockets who is willing to lose some of their money and not expect to get it back.

That's the way it used to be, isn't it? Everyone (in this country, anyway) seems to glibly say these days 'football clubs are businesses'. The thing is that businesses aim to make profit....most football clubs don't, and have to be subsidised in some way. The rationale needs to change. Football clubs are part of the community, and, for most of us fans, are an important part of our lives, not just money machines.

 

[sevendaughters]

As an insight into how much the world gives a shit, the story has already dropped off the Guardian Sport football page as we need 3 more hagiographies of Liverpool and moaning that Barcelona are 0.1% shitter and poorer than they were 2 weeks ago when they were microscopically shit.

 

[ZAKKY]

@justinallen1976
The #Wigan administrator has just said that there are 12 interested parties in buying the club but expects 30 in total. He also says one other #EFL Championship club is in serious risk of going into administration before the season is out. #wafc

 

[hindleymonwafc]

Hey all Wanderer here, don't worry I haven't come to rub it in.
Just wanted to offer some words of empathy for you.

Without giving you our whole backstory, I know what it's like to go through admin as a fan. Literally everyday I was checking forums and social media looking for any positive information.

The thing is, every situation like this is unique so there is no quick fix for anything, it would be nice if Dave Whelan came in as a knight in shining armour, but really you're just delaying the problem. Better than going bust though, obviously. Eddie Davies had to prop us up even when Ken was the owner!

There will be people that claim to be ITK, but ultimately it all means very little until it's all sorted out. People seemed to be making up rumours to suit their own agenda, whether that was Bassini, Ken or just random people on social media.

My advice would be, show support for Wigan, do what you can to raise awareness of the absolute sh1tshow that is the EFL and also the owners that have screwed you. There needs to be major reform of the system where clubs aren't allowed to run up ridiculous debts. I think there's a system in American football where all clubs get the same revenue and the clubs that do worst get "first dibs" on rookies coming out of college. Obviously football is a lot different to the structure over there but it shows things can be done in a fairer way. I digress.

I would also advise against driving yourself mad checking social media/forums everyday for news about what's going to happen next, obviously it's good to be kept in the loop, but these things take time, ours started at the end of the championship season and we were still in a mess 6 games into the league 1 season!

Don't want to be a doombringer at all, I do believe and hope that you will get sorted out, whether it's DW or someone that can at least keep the club going until better investment gets found.

At the end of the day, this is bigger than Wigan, it's a systemic problem but unfortunately you'll have to endure pain through this process and it sounds like a very complex one, one that you may not get all the answers you're looking for.

I hope you get sorted but as I say, don't expect to come out of this as quickly as you went in. This could rumble on for months, as long as you get through the rest of this season, I think you'll make it out. Best of luck.

Cheers pal...good user name too for a flying visit.

 

[daleks.at.the.monaco]

Only if the administrators manage to sell the club for that amount.

There is also the doubts around whether that loan has been formalised and monies transferred. Have IEC actually passed over any funds ?

Please note I am only speculating and have no more info than anyone else on here.

Interesting point concerning the loan.
The loan was agreed, yet the loan cash was not made available?
So have the terms of the loan not been met?
One for m'learned friends, and lots of earning potential for lawyers.

 

[FrancosLoveChild]

Saw something on Twitter and I doubt it's true and it's really something that shouldn't rumoured or made up if so of a video of Rick Parry saying the previous owners have made a bet in the Philippines for Wigan to be relegated, to be fair, it sounds so ridiculous to be true. So for me there is no time for people to make this stuff up if that's the case but it's convincing nonetheless but yeah.. don't take it as gospel for sure.

 

[richymac]

Yeah, I’ve seen what she wrote and fair play to her. I hope she can keep the pressure on. I’m going to write to my MP Lindsay Hoyle tomorrow in the hope he can apply some too as our training ground falls under his jurisdiction. He maybe able to use his position to go direct to Dowden and look at getting an independent enquiry set up looking at the Efl, as this organisation really isn’t fit for purpose any more.

Think I read somewhere he’s a Warrington Wolves fan. So has an interest in sport in the local area. Great idea, thanks!

 

[daleks.at.the.monaco]

Looks like our esteemed owner has had his fingers in a few pies (no pun intended) this month.

Steinhoff shares sink as legal claims top R170bn
By CAMEROON MAGAZINE - GM -02/07/202008

The sugar producer, which has battled underperformance and an accounting scandal, is aiming to cut debt by R8.1bn by March 2021
This is less than a month after being taken over by a partnership headed by Hong Kong businessman Au Yeung Wai Kay
After untangling a web of fraudulent transactions, Steinhoff is bracing for more pain as it tallies legal claims that have topped a whopping R170bn.
Steinhoff uncovered a €6.4bn (about R120bn) hole in its accounts in 2017, triggering a share price collapse and multiple lawsuits from former business partners and aggrieved shareholders that include former chair Christo Wiese.

https://fr.cameroonmagazine.com/act...nhoff-shares-sink-as-legal-claims-top-r170bn/

Seem to recall that Steinhoff own UK retail businesses
eg Benson's Beds

 

[Made in Wigan]

Saw something on Twitter and I doubt it's true and it's really something that shouldn't rumoured or made up if so of a video of Rick Parry saying the previous owners have made a bet in the Philippines for Wigan to be relegated, to be fair, it sounds so ridiculous to be true. So for me there is no time for people to make this stuff up if that's the case but it's convincing nonetheless but yeah.. don't take it as gospel for sure.

I’m back on twitter because of this shit and saw the clip. Absolutely shocking. Grown men shouldn’t wear sandals.

Seriously no idea of that if genuine or not so couldn’t comment. However outrageous that claim maybe I honestly wouldn’t be surprised. The whole thing makes little sense, so the bet suggestion seems entirely plausible and not as outrageous as it sounds. Probably as surprised as we were about our turnaround and triggered when it seemed likely we’d survive and it was their only way of trying to force us down.

 

[TRUE BELIEVER]

Interesting point concerning the loan.
The loan was agreed, yet the loan cash was not made available?
So have the terms of the loan not been met?
One for m'learned friends, and lots of earning potential for lawyers.

Having just read an interesting article in the Guardian it appears that the price paid for the club was 41m in total, made up of 17.5m for the purchase and 24m to pay off the existing money loaned by IEC.

To finance this it appears that the new owners have taken a further loan from IEC at the 8% interest rate to pay off the interest free loan that IEC had in place. ( Bear with me).

So no cash has changed hands or been made available to the club.

On top of this it appears that Dr Stanley either sold or gifted his majority share to the minority shareholder making him then the majority shareholder, ( I know this sounds like a plot line from the old show Soap, but please bear with.) this took place on the 24th June, whereby he immediately contacted his lawyers in the UK to bring in the administrators. Thus he immediately gave up control of the club!!!! and the 41m outlayed to buy the club.

Am I going totally bonkers or how the hell is he going to make anything out of this ????

The administrators are now in complete control of the club, his assets, and can if they wish sell the club to any reasonable offer. Out of which their not inconsiderable fees will be taken along with any costs expended, players wages, staff wages and any football related interests in line with the agreements in place for the sale of football clubs.

It is completely bizarre, the guy is either a complete fruit loop or a genius and has a master plan to recover his outlay and a profit.

 

[TRUE BELIEVER]

I’m back on twitter because of this shit and saw the clip. Absolutely shocking. Grown men shouldn’t wear sandals.

Seriously no idea of that if genuine or not so couldn’t comment. However outrageous that claim maybe I honestly wouldn’t be surprised. The whole thing makes little sense, so the bet suggestion seems entirely plausible and not as outrageous as it sounds. Probably as surprised as we were about our turnaround and triggered when it seemed likely we’d survive and it was their only way of trying to force us down.

If that is correct and a bet has been laid and can be traced back to anyone concerned with IEC , Stanley Choi or Au Yeung they could be charged under gambling legislation preventing anyone connected to a club betting on the clubs fixtures or season outcome.