Scholes controls
Vital Youth Team
The admins have said all along we didnt owe these ***** anything have they had our pants down aswell taking more money out the club this is sickening
So it looks like the Next Leader Fund loan is included in the creditors totaled. This does not sound good
Not being officious. Just stupid. The impact is the loss of our club no matter where you live.
What is the 10m to Wigan Holding Company?
.
I'd love to know what's behind the change in status behind the loan. I wonder if it's post Krasner's zoom call with Au Yeung?
I'm thinking the same. I thought the Holding Co was one of the 5. Therefore, we "owe" it to ourselves.......... unless of course, they're going to break the 5 up.
As it stands, if someone purchased all 5 - or at least, WAFC & the Holding Co together .......plus maybe whichever Training Ground owed money to the Holding Co - then it wouldn't actually need to be paid .................. I think.
I'd love to know what's behind the change in status behind the loan. I wonder if it's post Krasner's zoom call with Au Yeung?
Because we don't have to pay off the entire debt due to having entered administration. The administrators are selling our playing assets in order to raise the funds to pay off the football creditors which has to be paid in full for us to survive (around 5m). Non football creditors (NLF etc) do not have to be paid back in full, instead they must be paid 25p in the pound (so basically around 13m). So to summarise, any prospective buyer now basically has two options going forward.What I really don't understand is if the debt is indeed in the region of £45m why are four groups still in talks? Surely they would have turned and ran immediately they saw this, makes me think things aren't as clear cut as this seems to suggest! Hope so anyway!!
Thanks for that C bit confused with information coming from all directions! Bit clearer now!Because we don't have to pay off the entire debt due to having entered administration. The administrators are selling our playing assets in order to raise the funds to pay off the football creditors which has to be paid in full for us to survive (around 5m). Non football creditors (NLF etc) do not have to be paid back in full, instead they must be paid 25p in the pound (so basically around 13m). So to summarise, any prospective buyer now basically has two options going forward.
1. Pay the 25p in the pound (13m) to the non football creditors and take on the club in L1 with a skeleton squad, but with no points deduction.
2. Don't pay the 25p in the pound (13m) to the non football creditors, which will wipe the non football creditors debt, but at the cost of a mandatory 15 point deduction, which with a skeleton squad would all but certainly see the club relegated to L2 next season, which would reduce the club's income even further.
Both options also involve any prospective buyer having to immediately take on the clubs everyday bills such as player/staff wages etc, which whilst being reduced everyday is still high.
Hopefully that helps you understand the situation a bit better.
Take the 15 points for me don't let these crooks have a feckin penny back of their "loan" tossersBecause we don't have to pay off the entire debt due to having entered administration. The administrators are selling our playing assets in order to raise the funds to pay off the football creditors which has to be paid in full for us to survive (around 5m). Non football creditors (NLF etc) do not have to be paid back in full, instead they must be paid 25p in the pound (so basically around 13m). So to summarise, any prospective buyer now basically has two options going forward.
1. Pay the 25p in the pound (13m) to the non football creditors and take on the club in L1 with a skeleton squad, but with no points deduction.
2. Don't pay the 25p in the pound (13m) to the non football creditors, which will wipe the non football creditors debt, but at the cost of a mandatory 15 point deduction, which with a skeleton squad would all but certainly see the club relegated to L2 next season, which would reduce the club's income even further.
Both options also involve any prospective buyer having to immediately take on the clubs everyday bills such as player/staff wages etc, which whilst being reduced everyday is still high.
Hopefully that helps you understand the situation a bit better.
Same, and I suspect that if we are lucky enough to find a new owner, they would go the same way. No way could Lenegan for example afford to pay back that 25p in the pound. Just commit to paying the bills for this season with the support of the fans through season tickets, shirt sales etc, then start afresh in 2021/22 with a brand new cheap squad that fits the salary cap and can be funded through income generated by the club. It’s a slim chance, but probably the best chance we have of coming out of this the right way. It’ll take years to build us back up and it could even mean an extended stretch in L2. But at least we’d still have a club and right now that is the best case scenario.Take the 15 points for me don't let these crooks have a feckin penny back of their "loan" tossers
Take the 15 points for me don't let these crooks have a feckin penny back of their "loan" tossers
It’s all a stitch-up. This business with the loan stinks.Take the 15 points for me don't let these crooks have a feckin penny back of their "loan" tossers
Because we don't have to pay off the entire debt due to having entered administration. The administrators are selling our playing assets in order to raise the funds to pay off the football creditors which has to be paid in full for us to survive (around 5m). Non football creditors (NLF etc) do not have to be paid back in full, instead they must be paid 25p in the pound (so basically around 13m). So to summarise, any prospective buyer now basically has two options going forward.
1. Pay the 25p in the pound (13m) to the non football creditors and take on the club in L1 with a skeleton squad, but with no points deduction.
2. Don't pay the 25p in the pound (13m) to the non football creditors, which will wipe the non football creditors debt, but at the cost of a mandatory 15 point deduction, which with a skeleton squad would all but certainly see the club relegated to L2 next season, which would reduce the club's income even further.
Both options also involve any prospective buyer having to immediately take on the clubs everyday bills such as player/staff wages etc, which whilst being reduced everyday is still high.
Hopefully that helps you understand the situation a bit better.
It's insane that had the owner put 6m in we would have had championship football, prize money, TV money, all assets under out control and valuation. We've been shafted so badly and facing the abyss. Utterly heartbreaking. I just hope a miracle happens with a buyer and I get to travel 4 hours to the DW and see my beloved Latics again.
However dire our situation is right now, it will just make our rise back up even sweeter. If we have to start in League 2 so be it, as long as we can support the Latics again we can still write another impressive chapter in our history. We will come back stronger if we are togetherI just want a club to support next season,so hopefully these interested parties are genuine and a deal can be done with the right one.If that means a 15 point penalty and those horrible,despicable,devious snakes in Hong Kong don't get a penny,I'll take it!
We are in a horrible,disgusting predicament with liquidation a devastating possibility.But as there is still interest,i'm still hopeful and keeping the faith that the club can be saved.
I'd just like to add I'm also furious with the EFL who are meant to protect their clubs!They are a f****** disgrace,inexplicably and incompetently ratifying a dodgy deal which has left our club in ruins!
Paul Stanley has just confirmed on twitter that when the administrators are appointed they take over all 5 Wigan Athletic Holdings Ltd companies and they will choose to write the debt off when it comes to the 25p.So it looks like if a buyer can be found,that the 10.7 million owed to creditor Wigan Athletic Holdings Ltd mentioned earlier will be written off.