What’s going on? | Page 57 | Vital Football

What’s going on?

ZAKKY said:
6 million out of a wealth of 225million is less than me giving half my wages to the supporters fund wish I had the chance to do it. Not seen Sharpies name in the list of subscribers either or any other Wigan money men either for that matter
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Being worth 225m before Covid is not necessarily the same as having that amount of money in an account and available to spend today.

DW administration may not have directly drained all of his personal wealth but it will have likely effected his overall net worth and cashflow. Covid will have negatively impacted all of his other business interests too so i can imagine that net worth will be significantly less than it was and if you've just taken a significant financial hit you are understandably going to be less inclined to take on another loss making venture you got out of 18 months ago for losing you money.

It's easy for us to say he should spend millions to buy us again but Covid will have effected his finances negatively and no matter how rich you are it will make you less inclined to spend 10m or so.
 
king_dezeeuw06 said:
Being worth 225m before Covid is not necessarily the same as having that amount of money in an account and available to spend today.

DW administration may not have directly drained all of his personal wealth but it will have likely effected his overall net worth and cashflow. Covid will have negatively impacted all of his other business interests too so i can imagine that net worth will be significantly less than it was and if you've just taken a significant financial hit you are understandably going to be less inclined to take on another loss making venture you got out of 18 months ago for losing you money.

It's easy for us to say he should spend millions to buy us again but Covid will have effected his finances negatively and no matter how rich you are it will make you less inclined to spend 10m or so.
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I wasn't suggesting he buy us again but to cover the 6 million we need to survive won't break him . You will have me crying for him King I think a lot of the fans who have donated will probably have been hit by Covid as well.
 
king_dezeeuw06 said:
Being worth 225m before Covid is not necessarily the same as having that amount of money in an account and available to spend today.

DW administration may not have directly drained all of his personal wealth but it will have likely effected his overall net worth and cashflow. Covid will have negatively impacted all of his other business interests too so i can imagine that net worth will be significantly less than it was and if you've just taken a significant financial hit you are understandably going to be less inclined to take on another loss making venture you got out of 18 months ago for losing you money.

It's easy for us to say he should spend millions to buy us again but Covid will have effected his finances negatively and no matter how rich you are it will make you less inclined to spend 10m or so.
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Swings and roundabouts here, the hi viz/safety wear part will have had a stormers performance during covid.
As posted earlier given the (relatively) small amount c£6m required to steady the ship by DW wealth standards it would have been a meaningful contribution to make a la Eddie Davies candid for Bolton.
As many Tics have chipped in significantly as a % of their available cash it is somewhat "disappointing" that the Whelans have not seemingly contributed at all.
Whilst fully understanding they've more than played their part previously having stated publically they would "do whatever they could to help" and given they sold us to the chinese criminals in the first place they would have been better saying nowt if they didn't intend to see it through
 
Hampton said:
The one the admins have confirmed doesn't exist ?
They wouldn't be misleading us - would they.........?🙄
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I honestly don't trust anybody now...not the EFL, not this admin lot, not our owners or these bidders. Only one to trust is DW but that ship has sailed, he's now too old.

And before anybody says he sold us to that bastard he got bamboozled and made a mistake...not malicious.
 
Also nobody cares, other teams I mean. We need to shift people out and even at the knock down bargain prices seem to be struggling because, I suspect, other teams think they can get them for nowt, Jack shit from a dying corpse.....picking over our bones and nobody cares. Talk about all in this together bullshit, it's dog eat dog out there and if by some miracle we do survive that's how we should view things in future...look after #1 and bollocks to them all. That's presumably what the EFL want so congratulations, you reap what you sow.

It hurt when Bury went but no more Mr Nice Guy.
 
QUOTE="hindleymonwafc, post: 2397887, member: 10714"]I honestly don't trust anybody now...not the EFL, not this admin lot, not our owners or these bidders. Only one to trust is DW but that ship has sailed, he's now too old.

And before anybody says he sold us to that bastard he got bamboozled and made a mistake...not malicious.[/QUOTE]

If Dave Whelan isn't of sound mind then maybe your right about him getting confused and making a mistake on the sale of Latics.
I got told a while back that his daughter has power of attorney over his finances. It might not be true but could explain why he hasn't helped us financially.
Also isn't his other grandson now in charge of the DW sports chain?
 
Mr Whelan may not want to buy the club back but I'm damn sure if it comes down to Wigan Athletic going to the wall he will. Even if only to see us through this pandemic. Anybody who thinks the guy isn't suffering as much as us fans is seriously deluded. If and when needed Uncle Dave will be around in some capacity. Hopefully.
 
It may have been a mistake. He may have been bamboozled. But Whelan must feel accountable for selling his home town club down the river like this to Chinese conmen. His decision could lead to the death of the club and if he has come out and said what he has to local press he should back it up.
 
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Ooohaaahdonniepage said:
It may have been a mistake. He may have been bamboozled. But Whelan must feel accountable for selling his home town club down the river like this to Chinese conmen. His decision could lead to the death of the club and if he has come out and said what he has to local press he should back it up.
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Of course, we all appreciate what Dave has done....a fantastic roller coaster of a ride. It now appears to be payback time. He has to bear some of the responsibility for the mess we're in. He was quick enough to accept the plaudits for all the success we had, so, he and his family should accept that they sold the club down the river. They must've realised the huge dangers involved by selling the club to these gamblers. I'm not sure if he/they cared who they were selling to. Surely, they wouldn't have been so dumb 😕
 
Nottingham said:
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Of course, we all appreciate what Dave has done....a fantastic roller coaster of a ride. It now appears to be payback time. He has to bear some of the responsibility for the mess we're in. He was quick enough to accept the plaudits for all the success we had, so, he and his family should accept that they sold the club down the river. They must've realised the huge dangers involved by selling the club to these gamblers. I'm not sure if he/they cared who they were selling to. Surely, they wouldn't have been so dumb 😕
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Try to resist the " he voted Tory so he must be a ****" default setting just for once , eh ?

I'd say it doesn't become you, but it probably does.
 
Whelan wasn't callously dumping us to someone that he knew would screw us but he wanted out to avoid spending any further millions of his families inheritance. After all he did for us you can't blame him.

Remember Choi also put in 1m a month to cover the wages for 18 months and allowed us to spend 8m NET on new players last summer - that was the second highest NET spend in the league. They sorted out the pitch and academy for the first time - they didn't interfere in football matters either - that was what Whelan was hoping for and he initially got it.

No doubt in the end Choi screwed us with Yeung but Whelan cant be blamed for IEC going from being pretty good owners willing to spend to trying to kill the club 18 months after he sold it.

People saying Whelan won't miss 6m - 6m is a lot of money no matter who you are. People saying give away 6m out of a 200m fortune is comparable to what fans are spending is not fair. We have no idea how much of that 200m has been wiped off by this financial crisis - if he had 6m sitting spare would he not have used that to keep his business going rather than give it away for no return to pay for the next owner to have an easier life?

But lets say he is still worth 200m and the cost is 6m works out at something like 3% of his net worth. If we individually add up the cost of your house, your car, your other assets and savings and then work out 3% of that total I bet very few Latics fans will have donated that amount. I have been quite generous buy I've certainly done that.

Only 3.5k fans have put their hand in their pocket to raise about 190k last time I looked. It's not an exact science but that is less than half of our average attendance. It's true some people will be from other clubs, some of our fans live in same household and will make combined donation, some Latics fans have donated more than once and some offered 20 quid while a couple have gone a few grand. But for arguments sake let's say it's 50 quid a head average donation - if 50 quid is 3% of your net worth that means your net worth is less than 2k. I know Wigan isn't a wealthy town but most folks aren't that poor - that's not a critasism of anyone donating any amount it's just context of how much % wise of wealth Whelan could be unfairly expected to donate. Whelan has invested more over the years into the club than all of us fans combined so I don't think we can feel obliged or entitled to millions more while his main business goes into administration.

I have been disapointed Whelan has gone quiet or hasn't maybe promised to throw in a few thousand himself but we are in dream land if we think 6m is going to be written off to us as a donation.

I said back in May I thought the new ownership could cause us to go into administration in the future and Whelan would not let us die. I never expected that future to be a month later but I still think if all other owners drop out and liquidation is the only outcome he could still come in with an offer at the last moment. He clearly doesn't want to run the club anymore and while there are other parties he will leave them to it. But I think he is as big a Latics fan as anyone and I think in these desperate times he's not to blame for what Choi and Yeung did over a year after he sold us to them with zero debt and we shouldn't lose sight of that.
 
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hindleymonwafc said:
Try to resist the " he voted Tory so he must be a ****" default setting just for once , eh ?

I'd say it doesn't become you, but it probably does.
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hindleymonwafc said:
Try to resist the " he voted Tory so he must be a ****" default setting just for once , eh ?

I'd say it doesn't become you, but it probably does.
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Some things are above party politics. It wouldn't matter if he was a Green Socialist...like me 😉
 
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king_dezeeuw06 said:
Whelan wasn't callously dumping us to someone that he knew would screw us but he wanted out to avoid spending any further millions of his families inheritance. After all he did for us you can't blame him.

Remember Choi also put in 1m a month to cover the wages for 18 months and allowed us to spend 8m NET on new players last summer - that was the second highest NET spend in the league. They sorted out the pitch and academy for the first time - they didn't interfere in football matters either - that was what Whelan was hoping for and he initially got it.

No doubt in the end Choi screwed us with Yeung but Whelan cant be blamed for IEC going from being pretty good owners willing to spend to trying to kill the club 18 months after he sold it.

People saying Whelan won't miss 6m - 6m is a lot of money no matter who you are. People saying give away 6m out of a 200m fortune is comparable to what fans are spending is not fair. We have no idea how much of that 200m has been wiped off by this financial crisis - if he had 6m sitting spare would he not have used that to keep his business going rather than give it away for no return to pay for the next owner to have an easier life?

But lets say he is still worth 200m and the cost is 6m works out at something like 3% of his net worth. If we individually add up the cost of your house, your car, your other assets and savings and then work out 3% of that total I bet very few Latics fans will have donated that amount. I have been quite generous buy I've certainly done that.

Only 3.5k fans have put their hand in their pocket to raise about 190k last time I looked. It's not an exact science but that is less than half of our average attendance. It's true some people will be from other clubs, some of our fans live in same household and will make combined donation, some Latics fans have donated more than once and some offered 20 quid while a couple have gone a few grand. But for arguments sake let's say it's 50 quid a head average donation - if 50 quid is 3% of your net worth that means your net worth is less than 2k. I know Wigan isn't a wealthy town but most folks aren't that poor - that's not a critasism of anyone donating any amount it's just context of how much % wise of wealth Whelan could be unfairly expected to donate. Whelan has invested more over the years into the club than all of us fans combined so I don't think we can feel obliged or entitled to millions more while his main business goes into administration.

I have been disapointed Whelan has gone quiet or hasn't maybe promised to throw in a few thousand himself but we are in dream land if we think 6m is going to be written off to us as a donation.

I said back in May I thought the new ownership could cause us to go into administration in the future and Whelan would not let us die. I never expected that future to be a month later but I still think if all other owners drop out and liquidation is the only outcome he could still come in with an offer at the last moment. He clearly doesn't want to run the club anymore and while there are other parties he will leave them to it. But I think he is as big a Latics fan as anyone and I think in these desperate times he's not to blame for what Choi and Yeung did over a year after he sold us to them with zero debt and we shouldn't lose sight of that.
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I think what you have said, sums it up perfectly, we have all been very upset what has happened to us and naturally we are looking for someone to blame and emotions take over at times like this.
 
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