What’s going on? | Page 62 | Vital Football

What’s going on?

NorthernSoul

Vital Reserves Team
Pay back the absolute bare minimum. The EFL has taken 6m from us which has instead gone to Barnsley. Minimum fee release clauses and the loss in revenue has already seen a cut in 20m that could have arrived. Taking so far the financial hit to the club as 26m due to the EFL unfairly relegating us. The 6m immediate loss in revenue would have paid the small debts owed straight away. Allowing player sales above this to have given us a healthy financial cushions. Given the wage bill after contracts and loans ended would have taken the wage bill below revenue. The sales of the 2 youths already covered the back dated wages up until the end of June.

I hope any business not receiving the full payments take the EFL to court to gain the rest of what is owed
 
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TRUE BELIEVER

Vital 1st Team Regular
I'm basing that on the figure that I saw quoted when the original preferred bidder was announced
It gave a total for the bid which it said was £x for football creditors & £1.5mill for non-football creditors (representing 25p in the £)
I can't for the life of me find where I saw all this though
I must admit MB this is similar to the figure I was quoted for football related creditors at the start of the admin. I haven't heard a definitive figure for non football creditors but the disputed loan figure would equate to approx £6 million at 25p in the pound.

Edit: sorry just seen the article you posted and it does point to a 6 million figure for non football creditors.
 

king_dezeeuw06

Vital Football Hero
I have been critical of the local press but I just saw this excellent article from Phil Wilkinson who is apparently standing in for Kendrick at the moment. Really good piece with lots of info - last few pieces Wilkinson has wrote have been pretty good. Happy to give credit where it is due.

The much debated loan, creditors, fees owed are all included. Some good research and effort gone into this. More of this please.

https://www.wigantoday.net/sport/football/wigan-athletic-worries-hopes-and-what-happens-next-2942347
 

ZAKKY

Vital 1st Team Regular
I have been critical of the local press but I just saw this excellent article from Phil Wilkinson who is apparently standing in for Kendrick at the moment. Really good piece with lots of info - last few pieces Wilkinson has wrote have been pretty good. Happy to give credit where it is due.

The much debated loan, creditors, fees owed are all included. Some good research and effort gone into this. More of this please.

https://www.wigantoday.net/sport/football/wigan-athletic-worries-hopes-and-what-happens-next-2942347

Posted it on WEP thread
 

Lazysid

Vital 1st Team Regular
I have been critical of the local press but I just saw this excellent article from Phil Wilkinson who is apparently standing in for Kendrick at the moment. Really good piece with lots of info - last few pieces Wilkinson has wrote have been pretty good. Happy to give credit where it is due.

The much debated loan, creditors, fees owed are all included. Some good research and effort gone into this. More of this please.

https://www.wigantoday.net/sport/football/wigan-athletic-worries-hopes-and-what-happens-next-2942347
For us laymen - I thought it was very well presented and provided an good understanding of whats going on!
 

C_Latic

Vital Squad Member
36 million quid to Stanley Choi and his patsy. Which is pretty much exactly what is claimed that he “invested” in the first place. We’ve been well and truly done over.

This ends only one way and it isn’t the way we all want. The admins have no choice but to sell off the remaining playing assets to pay the football creditors and then take the -15 that comes with not paying the non football creditors. It’s the only chance the club has of surviving and even that is only a slim chance. Who wants to buy a club guaranteed to be in L2 in 2021/22?

Those in favour of a phoenix club better start planning right now, because this club is going under whether you want to hear it or not. Time to face the stark reality.
 
I've tweeted a reply to that post re not understanding how we can be responsible for a loan, that the admins can't find being levied against the club and part of which must relate to the sale of the club to a bloke whose first action is to seek to liquidate us and have just been thinking if we do somehow owe NLF £25m, wouldn't the admins just have liquidated us as we havent a prayer of paying it alongside all other debts to clubs etc