Wigan in Administration

And here we are, 8 or so games into the season and still they haven't been sold / taken over etc, and there are murmurings about laying of or furloughing staff already.

Plus the EFL are on the case (which usually means they will wave it through), but...... at this time, the ground must be costing something just to keep it in 'trim', the pitch ditto, and they have a wage bill to pay every week/month.

For the life of me i cannot figure out how, given the ruthlessness with the Bury case, how this is being allowed to rumble on and on?

Sluffy wrote:Yes I remember the Five Penny Piece, I used to like stuff like this, Bernard Wriggly, The Spinners, Mike Harding and the Weavers and a little bit later Hovis Presley.

Thought you might like this one of Hovis if you haven't heard it before -

Let's not forget Bob Williamson too, I knew him back in the 60's as we were both at Bolton County Grammar School  in Great Moor street.

Cajunboy wrote:
Let's not forget Bob Williamson too, I knew him back in the 60's as we were both at Bolton County Grammar School  in Great Moor street.

I remember him - folky comedian who was all over Bolton and old school great from what I remember.

Wigan. Ownership. Summit been and gone. Now with EFL to decide. Talk that they might delay a call on this until an internal meeting next Thursday. Could do with a decision one way or another.

— Alan Nixon (@reluctantnicko) October 29, 2020

Seem to ask questions about funds and who is involved. But going round in circles now. Needs a decision. Clearly on edge after last time and other cases. https://t.co/QZXvSQuxBn

— Alan Nixon (@reluctantnicko) October 29, 2020

Or the EFL just want to make it look like they are policing it in case anything goes wrong down the line ... and they can say ‘we asked all the questions we could.’ It’s a thankless task. But needs a decision https://t.co/eXIz3FYL4x

— Alan Nixon (@reluctantnicko) October 29, 2020

Wigan. Interesting face in crowd today. Ray Ranson at the game with Darren Royle. And possible backer behind them. If Spanish thing fails to go through. Somebody needs to get a grip of it ...

— Alan Nixon (@reluctantnicko) October 31, 2020

Statement from Wigan Supporters Club - in a nutshell they say the Spanish group have yet to show proof of money to the EFL,

Update for Supporters 03/11/2020

Since the proposed new owners of Wigan Athletic entered their period of exclusivity with the administrators, Wigan Athletic Supporters Club has been in conversations with the bidders for a number of weeks. As part of these discussions, the bidders invited the crowdfunder monies to be invested into the new company of A.F.C Wigan Athletic as part of the bidder’s purchase of the club – click here to view the proposed Heads of Terms in full.

For a number of reasons, as custodians of the supporters’ donations, we feel unable to move forward with the proposed deal at this time.

After our publicised meeting with the EFL on Thursday 29th October, we were advised on Monday 2nd November that a final decision must be made regarding the investment by no later than 12noon on Tuesday 3rd November. The timescales have been insufficient to enable us to investigate the outcomes of that meeting and to hold the proper discussions with our wider committee
We are yet to agree the details of how the funds would be accounted for (as equity, loan or by other means). More clarity on this is required to ensure that the supporters’ monies receive fair value.
The EFL’s due diligence process regarding the proposed new owners and their business plan is not yet complete. We feel that supporters’ monies should only be invested once the EFL have confirmed that their processes have been brought to a satisfactory outcome
We are keen to invest the funds in order to secure equity in Wigan Athletic and a voice for the supporters. However we must be sure that the proposed bidders have the wherewithal to purchase and fund the operations of the club and stadium successfully independently of our funds based on acceptable financial forecasts. We have been assured by the bidders that this is the case, however we feel it is important that proof of sufficient funds is confirmed by the EFL prior to any supporters’ funding being committed.
For the above reasons, we believe that more reassurances are required before agreeing to invest the significant value of funds raised by the supporters.

Although these conditions prevent any immediate agreement, we remain open to continuing our dialogue with bidders, with the aim of gaining the reassurances we need to invest and secure a positive role for the supporters in the future of our club should a bid be successful.

Our involvement in the process is a direct result of the fundraising efforts of Latics fans and the football community across the world. As such, it is important to note that the Supporters Club is keenly aware of our responsibility to represent the supporters, and to ensure as much transparency for the fans as is legally possible.

We will share information whenever we are able, and we will ensure that the supporters’ funds are invested correctly – and only when we can be sure beyond reasonable doubt that it will be for the benefit of our football club going forward. To this end, throughout this process we have taken professional and legal advice, and we are also grateful to the FSA for their ongoing advice and support.

To all Latics supporters thank you for your patience so far. Keep the faith and we will update you further as soon as we are able to do so.

From all the team at Wigan Athletic Supporters Club

https://www.wiganathleticsupportersclub.co.uk/update-3-11-20/

Sluffy wrote:

Wigan. Interesting face in crowd today. Ray Ranson at the game with Darren Royle. And possible backer behind them. If Spanish thing fails to go through. Somebody needs to get a grip of it ...

— Alan Nixon (@reluctantnicko) October 31, 2020

Anyone remember Ranson being mentioned in Sam Allardyce's book? Summat about BSA wanting to borrow money, arranged by Ranson and repayable over 25 years, to buy players who might be on the books for 2 or 3 iirc.

Wigan. ‘Chippy’ at ground has been sold. Storage firm. More cash for the coffers.

— Alan Nixon (@reluctantnicko) November 10, 2020

Wigan. Takeover update. Spanish exclusivity period ending. Likely to be extended. But EFL still toing and froing over questions re funding etc. Rival interest if it fails. But nobody shown the money. Yet.

— Alan Nixon (@reluctantnicko) November 10, 2020

if it were any other team the EFL would be getting rid or letting them off or indeed, in 1 case, giving them points back.

October, 3rd november, what next Feb 2021? fecking EFL aint fit to clean the bogs.

Only change is this wording re the #wafc Supporters Club:

“in regard to their decision to withdraw their offer of investment in that company"

has become...

“who felt they were unable to move forward with the proposed deal at this time"

— Paul Kendrick (@PKendrickWIG) November 11, 2020

Seems the drama at Wigan continues!

Just to set the current scene - some Spanish bid seems to have stalled at the EFL in not showing proof of funding at the Wigan Supporters Group that was working with them, seem not to be working with them - now this BUT wait for the 'twist' at the end that follows!!! Unfortunately I can read the article below without registering for 5 free reads of the paper so I give the tweet from Wigan's Marc Iles equivalent so those that those who can access it can read it (if you can do us a favour please and copy and paste it on here - thanks)

The Person behind the new bid is Wigan ex-pat millionaire Tony Frampton.

New Wigan Athletic bidder 'ready to close deal inside three weeks'

A Wigan-led group from the Far East say they are in a position to push through a takeover of Wigan Athletic within '15-21 days' - if the Spanish bidders fail to get EFL approval.

You've probably seen/heard about a mystery bidder waiting in the wings for a shot at buying Latics...here's some meat on the bones...fronted by a Wiganer who follows both of our teams... #wafchttps://t.co/7kkYZJP3sS

— Paul Kendrick (@PKendrickWIG) November 15, 2020

The Administrator Paul Stanley who tweets as 'Blue Stan' he's big City fan, confirms Frampton IS an interested party AND a bid was received -

I am aware of Tony’s interest along with some others who have also made offers - it was the Indonesian bit that threw me.
At the moment we are in an exclusivity period that’s why we can’t open dialogue with other parties.

— Blue Stan (@stantheelk) November 15, 2020

Yeah Tony F

— Blue Stan (@stantheelk) November 15, 2020

No I have given Wigan related Twitter a swerve for a while but was asked to comment yesterday.
As you know, a few offers were made at the same time or after the Spanish bid was accepted. We can’t speak to them at the moment due to exclusivity period the Spanish bidders paid for.

— Blue Stan (@stantheelk) November 15, 2020

Then a bizarre bit - Tony Frampton has tweeted about all this - a bit Bassini-ish feel about all this to me!

Gents you are now all aware of our existence I have had calls in the last hours with prominent wigan fans one lasting almost 1 hour. The purpose was to make the fans aware of us. You as fans now need to decide if you believe us and subsequently ask more detail from admins.....

— tframpton25@gmail.com (@saviour696) November 15, 2020

But that's not the twist - this is - a Facebook post from his own daughter!!!

Nichola Frampton
17h ·
What kind of person, you might ask, would put in a bid to save Wigan Athletics because he “only wants the best for Wigan” (best for warrior and a share in the club more like), meanwhile having at least 13 children to 6 different women, dumping half of them back for the Wigan government and taxpayer to deal with....taking his own children to court to fight paying for them to go to uni and which they went on qualify separately with a Veterinary Degree, an amazingly qualified Mental Health nurse who truly does help the borough of Wigan and a lawyer who had to get half the way there herself....My c**t of a sperm donor “father”. All those family members who have stood up for him and think he isn’t as bad as he is can rot. You mean nothing to me just like he doesn’t. This game is only just starting

https://www.facebook.com/nichola.frampton/posts/10158686842489648


Tbh I've not verified much of this so can't say for certain it is all true but Wigan's Marc Iles believes it, the Administrator says Frampton is known to him so maybe one or both of the Twitter and Facebook accounts are genuine too?

Thank God we got FV eh!?!!

Nandy seems to be hoping for Wigan's 'Supporters Trust' to take on the club!

This Administration isn't going to be ending anytime before Christmas at this rate!

Wigan. Spanish takeover won’t be ratified by EFL today. Closer but not there. Extension from admins a certainty. Just a matter of how long for ...

— Alan Nixon (@reluctantnicko) November 20, 2020

STATEMENT FROM THE JOINT ADMINISTRATORS (20.11.20)

The Joint Administrators wish to update the staff and fans since their last statement.

We are pleased to report that substantial progress has been made with the Council regarding the assignment of the lease. In addition further discussions have taken place between the EFL, the bidder and ourselves and, in our opinion, all information requested of the bidders has been supplied including but not limited to proof of funds for the next two seasons.

In the light of this progress, the exclusivity period, which expires today, has been extended. We now await a final answer from the EFL and no further comment will be made until that is received.

https://wiganathletic.com/news/2020/november/Statement-From-The-Joint-Administrators-20-11-20-/

Some odd things being said in this interview to my ears, almost as though Admin don't believe the bidders will pass the Fit and Proper Test but they are hoping that the EFL will give them money to keep going until they find someone who does?

All seems a bit doom and gloom to me as the Admin have already said if they don't find a buyer for the club they don't get paid for all the work they've carried out for all this time.


'Fit and Proper Test' only hurdle now - Wigan Athletic admin

Administrator Paul Stanley has reported 'very slow going' regarding the Wigan Athletic takeover after meeting with the EFL yesterday.

The governing body held the impromptu meeting with the admins - without the Spanish bidders - to update them on the process.

And Stanley revealed the one remaining stumbling block is the one Latics fell foul of during the last change of ownership - the so-called 'Fit and Proper Person's Test'.

"We had a conference call with the EFL this morning, but it's going along very slowly," he told Wigan Today.

"In terms of the three issues, the lease (on the DW Stadium) with the Council, there's no issue with that.

"Regarding the financial information, the budget's all been agreed with the EFL and they've provided proof of funding.

"The only issue outstanding is whether the EFL are comfortable with the Owners and Directors' test.

"That's basically the individuals involved in owning it and running it, and where they got their money from as shown on the bank statements as proof they can fund it.

"The meeting was really just the EFL updating us as to where they're at.

"I think the big issue is that it's so broad...when you're dealing with more than one person in more than one jurisdiction."

It's now 151 days since Latics were placed into administration, and almost two months since the offer from the Spanish bidders was accepted.

"The problem is the EFL have had at least 10 clubs knocking on the door saying 'we can't pay the wages'," Stanley acknowledged.

"And they've had to look into emergency loans - that's not what they've told me, that's what I've heard.

"If their guys internally have had to look at all of those claims, you can see why they might be stretched at the minute.

"But we have had a conversation this morning about this process may be getting to a point where we run out of money.

"The EFL has made a statement saying no club is going to go out of business because of Covid.

"And we're spending £500,000 a month - £15,000 a day if you want to look at it like that - on losses.

"If somebody's said they won't let it fail, it's not our fault what's going on.

"And I'm not saying it's the EFL's fault - it's no-one's fault.

"But if that statement has been made about no club being allowed to fail, we'd like to be looked on sympathetically."

https://www.wigantoday.net/sport/football/fit-and-proper-test-only-hurdle-now-wigan-athletic-admin-3050857

It's like a pantomime this takeover, Nixon now reporting this!

EXCLUSIVE: Prince Andrew's pal behind late bid to save crisis club Wigan | @reluctantnicko https://t.co/1nzqdEofZd

— The Sun Football (@TheSunFootball) November 29, 2020

Wigan. Bid from Team Rowland Ranson Royle has gone to Admin and EFL. They believe higher and better than Spanish offer. EFL still going back and forward with Spaniards on issues within their deal. So there is an official Plan B if this fails or runs out of time.

— Alan Nixon (@reluctantnicko) November 30, 2020

Not totally sure this isnt bogus Sluffy.

The admins have said they will extend the exclusivity deal with the spanish, and the spanish have paid for that exclusivity, so how can TRRR go to the EFL and Admins?

If it's not bogus then i expect the spanish to pullout any minute, demand and get their full refund, and perhaps even sue the admins for breach of contract. That'll be fun!

Lets see the new lot stump up close to £8m to pay the existing bills, and the FFP proof of funds etc.

RangersDave wrote:Not totally sure this isnt bogus Sluffy.

The admins have said they will extend the exclusivity deal with the spanish, and the spanish have paid for that exclusivity, so how can TRRR go to the EFL and Admins?

If it's not bogus then i expect the spanish to pullout any minute, demand and get their full refund, and perhaps even sue the admins for breach of contract. That'll be fun!

Lets see the new lot stump up close to £8m to pay the existing bills, and the FFP proof of funds etc.

These might make things a bit clearer perhaps.

Spanish bid is ongoing with the EFL. However rival offer has been made to admin and EFL. https://t.co/mm4f7kANIO

— Alan Nixon (@reluctantnicko) November 30, 2020

Spanish bid needs to runs its course before anyone can break in. There is a deadline on it too ... or so I’ve been told. https://t.co/K8wzddLPPN

— Alan Nixon (@reluctantnicko) November 30, 2020

Anyone remember that mid 80's show called 'soap'?  this has a feeling of that! lol