What’s going on? | Page 59 | Vital Football

What’s going on?

TRUE BELIEVER

Vital 1st Team Regular
Not sure my glass is half full, it’s more fully drained at the minute. Doesn’t sound optimistic in the slightest to me. Given his deadline for preferred bidder status expired about two weeks ago and we’re still no where that stage, I would say it’s far more likely we’ll be liquidated than sold.
Chin up owd fettler, whilst there's still hope there's still a chance.

I seriously doubt we will go out of existence. We may have to suffer a season or two in the lower leagues as we rebuild but we are Wigan, we do the impossible.
 

king_dezeeuw06

Vital Football Hero
Nixon says the new American interest hasn't amounted to anything.

Moore going to Cardiff in next day or so apparently.

There is very little to be positive about but that's administration. We clearly haven't got a good owner with funds waiting in the wings so things are going to likely get a lot worse before they get better - if they get better at all and even if we do survive that could still be a struggle.

Just keep preparing for the worst and hope for the best.
 

Made in Wigan

Vital Football Hero
Chin up owd fettler, whilst there's still hope there's still a chance.

I seriously doubt we will go out of existence. We may have to suffer a season or two in the lower leagues as we rebuild but we are Wigan, we do the impossible.
You’ve more confidence than me. If there was anyone seriously interested they’d be well down the road with it. Plenty of fixed and player assets but sadly it’s the supporter ceiling that won’t improve which means there is little scope for expansion. We may limp on for a few months but once there are no players left to sell the administrators will just take a decision that the business is no longer viable and a sale is unlikely so will liquidate is before the year is out. I’m trying to come to terms with it but it’s not easy.
 

moonay

Vital Champions League
You’ve more confidence than me. If there was anyone seriously interested they’d be well down the road with it. Plenty of fixed and player assets but sadly it’s the supporter ceiling that won’t improve which means there is little scope for expansion. We may limp on for a few months but once there are no players left to sell the administrators will just take a decision that the business is no longer viable and a sale is unlikely so will liquidate is before the year is out. I’m trying to come to terms with it but it’s not easy.
I wouldn't be surprised if a big part of what the bidders are looking at are the 2 training grounds.

Both are decent sized chunks of land ................ the issue will be, could either be sold as potential development opportunities any time soon.

For Euxton, as has already been discussed previously elsewhere, this is unlikely ..... in the near term at least. As for Christopher Park, I imagine it's a similar picture.

Their dilemma will be balancing running 2 locations, each with their associated costs ....... whilst at the same time having the evidence that the youth section having the quality of facility they've had in the past few years (amongst other things obviously, not least, top top coaches) has shown itself to be a successful model.

Lots of is and buts to be considered.
 
I wouldn't be surprised if a big part of what the bidders are looking at are the 2 training grounds.

Both are decent sized chunks of land ................ the issue will be, could either be sold as potential development opportunities any time soon.

For Euxton, as has already been discussed previously elsewhere, this is unlikely ..... in the near term at least. As for Christopher Park, I imagine it's a similar picture.

Their dilemma will be balancing running 2 locations, each with their associated costs ....... whilst at the same time having the evidence that the youth section having the quality of facility they've had in the past few years (amongst other things obviously, not least, top top coaches) has shown itself to be a successful model.

Lots of is and buts to be considered.
I read that there are a couple of local clubs who've enquired about buying Euxton - PNE being one of them so it doesn't necessarily have to be sold for development

I seem to remember one of the administrators saying a couple of weeks ago that one of the queries of potential buyers is why a lge1 club needs 2 training grounds so it is obviously one of the sticking points
 

Made in Wigan

Vital Football Hero
I wouldn't be surprised if a big part of what the bidders are looking at are the 2 training grounds.

Both are decent sized chunks of land ................ the issue will be, could either be sold as potential development opportunities any time soon.

For Euxton, as has already been discussed previously elsewhere, this is unlikely ..... in the near term at least. As for Christopher Park, I imagine it's a similar picture.

Their dilemma will be balancing running 2 locations, each with their associated costs ....... whilst at the same time having the evidence that the youth section having the quality of facility they've had in the past few years (amongst other things obviously, not least, top top coaches) has shown itself to be a successful model.

Lots of is and buts to be considered.
With the salary cap then going forward I’m not sure having an academy will be a worthwhile as contracts will be short term and players won’t have that sell on value. An unnecessary expense for little reward. If a cap is imposed most will be scrapped - damaging the long term development of players until the penny drops somewhere.

As for the training grounds I don’t know if either can be developed so is difficult to comment. Either way if any bidder is trying to buy us to sell off assets then it doesn’t bode well and I’d question their intentions. I’d rather just rip off the plaster and get it over and done with and move on with life.
 

Made in Wigan

Vital Football Hero
I read that there are a couple of local clubs who've enquired about buying Euxton - PNE being one of them so it doesn't necessarily have to be sold for development

I seem to remember one of the administrators saying a couple of weeks ago that one of the queries of potential buyers is why a lge1 club needs 2 training grounds so it is obviously one of the sticking points
Didn’t we buy the old golf club with a view to developing it then de used it would be cheaper to buy euxton instead. I get having two makes little financial sense but neither are big enough on their own, but scrapping the academy should solve that.
 

moonay

Vital Champions League
I seem to remember one of the administrators saying a couple of weeks ago that one of the queries of potential buyers is why a lge1 club needs 2 training grounds so it is obviously one of the sticking points
The answer of course is that when we got the 2 grounds, though we were L1 (I think) we had higher aspirations ......... .after the cancellation of Wrightington, and the purchase of Charnock.

Right now? Dependent on the aspirations of a new owner? We may not need two.
 

moonay

Vital Champions League
Didn’t we buy the old golf club with a view to developing it then de used it would be cheaper to buy euxton instead. I get having two makes little financial sense but neither are big enough on their own, but scrapping the academy should solve that.
Yep. ....... to the first point. I still think the academy would be worthwhile.
 
Mentioned before on a number of occasions, things change, valuations change but here goes again.

Sharpies = Freehold and was valued at £650,000 (February 2020 Sale Document)

Euxton = Freehold and was valued at £650,000 (February 2020 Sale Document)
Also .... The property is allocated within the Chorley Local Plan as an existing Sports and Recreation Ground within the Greenbelt.

Christopher Park = Lease hold on a 99 year lease from 18/05/2012
Was valued at £560,000 (February 2020 Sale Document)
Christopher Park also was described in the sale document as:
"The property is allocated within the Wigan Local Plan as Safeguarded land within the Greenbelt. Development will only therefore be allowed in accordance with National Planning Policy."

The land at Charnock Richard Golf Club was purchased for a training ground. Relegation and the escalating costs (The cost of a single pitch was getting more expensive) killed that one and it was flogged.
Euxton was purchased from a financially struggling Bolton by Huron Properties (DW) and rented / leased to the club on generous terms. It was sold to IEC.
 
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Made in Wigan

Vital Football Hero
Mentioned before on a number of occasions, things change, valuations change but here goes again.

Sharpies = Freehold and was valued at £650,000 (February 2020 Sale Document)

Euxton = Freehold and was valued at £650,000 (February 2020 Sale Document)
Also .... The property is allocated within the Chorley Local Plan as an existing Sports and Recreation Ground within the Greenbelt.

Christopher Park = Lease hold on a 99 year lease from 18/05/2012
Was valued at £560,000 (February 2020 Sale Document)
Christopher Park also was described in the sale document as:
"The property is allocated within the Wigan Local Plan as Safeguarded land within the Greenbelt. Development will only therefore be allowed in accordance with National Planning Policy."
Plannings laws are due to be relaxed to stimulate the economy so those proposed values seem somewhat low in the current/future context. Though a bit like player values I’m sure we’ll flog ‘em way below market value in any case.
 

moonay

Vital Champions League
Anyone who comes in and flogs Euxton should be treated with as much suspicion as IEC / Kenneth. They clearly would not have a pot to p!ss in.
Or......they're going for the MiW model - scrap the academy, and rely on bringing in senior players on the cheap or free.

I still think the academy is the way to go if we're to have any ambition whatsoever. There seems little point in buying a club just to let it stagnate.
 

Nottingham

Vital Squad Member
Mentioned before on a number of occasions, things change, valuations change but here goes again.

Sharpies = Freehold and was valued at £650,000 (February 2020 Sale Document)

Euxton = Freehold and was valued at £650,000 (February 2020 Sale Document)
Also .... The property is allocated within the Chorley Local Plan as an existing Sports and Recreation Ground within the Greenbelt.

Christopher Park = Lease hold on a 99 year lease from 18/05/2012
Was valued at £560,000 (February 2020 Sale Document)
Christopher Park also was described in the sale document as:
"The property is allocated within the Wigan Local Plan as Safeguarded land within the Greenbelt. Development will only therefore be allowed in accordance with National Planning Policy."

The land at Charnock Richard Golf Club was purchased for a training ground. Relegation and the escalating costs (The cost of a single pitch was getting more expensive) killed that one and it was flogged.
Euxton was purchased from a financially struggling Bolton by Huron Properties (DW) and rented / leased to the club on generous terms. It was sold to IEC.
The Tories are ripping up current planning legislation, putting the decision making into the hands of private developers rather than public planning committees. Increasingly, pockets of land, such as these, will be developed according to the profit motive not the welfare of residents and communities. ( HS2 is an example ). I would think that the land assets are being the topic of much discussion. Sad, but true.
 

Lazysid

Vital 1st Team Regular
copied from f/b:
PAUL STANLEY UPDATE:

- Joe Gelhardt's sale to #lufc has paid the players for July
- The launch of a new kit and #wafc season tickets will be left to new owners
- Talks with buyers are ongoing
- Had a very positive meeting with Leam Richardson
- Five pre-season friendlies booked
 

Made in Wigan

Vital Football Hero
Or......they're going for the MiW model - scrap the academy, and rely on bringing in senior players on the cheap or free.

I still think the academy is the way to go if we're to have any ambition whatsoever. There seems little point in buying a club just to let it stagnate.
Not exactly my preferred model - but given the ill thought out and short sighted salary cap regulations then it does make sense as you’ll see little reward for the investment and will likely be loss making. No lower players, especially young ones with potential, will sign any contract over two years on the figures proposed. As such saleable value won’t be great for the club so little point in taking the time, trouble, money and risk to develop them.
 

hindleymonwafc

Vital Football Hero
The Tories are ripping up current planning legislation, putting the decision making into the hands of private developers rather than public planning committees. Increasingly, pockets of land, such as these, will be developed according to the profit motive not the welfare of residents and communities. ( HS2 is an example ). I would think that the land assets are being the topic of much discussion. Sad, but true.
If you operate a virtual open door immigration policy, as you would have us, then people will have to live somewhere. If they didn't build it would be those nasty tories don't give a shit.

Anyway save this shit for off topic.