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Wigan in Administration

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541Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Thu Oct 29 2020, 14:23

RangersDave

RangersDave
Mario Jardel
Mario Jardel
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?

542Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Thu Oct 29 2020, 15:05

Cajunboy

Cajunboy
El Hadji Diouf
El Hadji Diouf
@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.

543Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Thu Oct 29 2020, 23:51

wanderlust

wanderlust
Nat Lofthouse
Nat Lofthouse
@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.

544Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Fri Oct 30 2020, 13:26

Sluffy

Sluffy
Admin




545Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Fri Oct 30 2020, 17:25

Cajunboy

Cajunboy
El Hadji Diouf
El Hadji Diouf

546Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Sat Oct 31 2020, 21:51

Sluffy

Sluffy
Admin

547Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Tue Nov 03 2020, 23:14

Sluffy

Sluffy
Admin
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/

548Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Wed Nov 04 2020, 07:24

Ten Bobsworth


Andy Walker
Andy Walker
@Sluffy wrote:
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.

549Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Tue Nov 10 2020, 13:57

Sluffy

Sluffy
Admin


550Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Tue Nov 10 2020, 15:40

RangersDave

RangersDave
Mario Jardel
Mario Jardel
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.

551Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Wed Nov 11 2020, 21:57

Sluffy

Sluffy
Admin

552Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Mon Nov 16 2020, 18:06

Sluffy

Sluffy
Admin
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.



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 -









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




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!?!!

553Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Fri Nov 20 2020, 01:24

Sluffy

Sluffy
Admin
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!

554Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Fri Nov 20 2020, 13:06

Sluffy

Sluffy
Admin

555Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Fri Nov 20 2020, 17:07

Sluffy

Sluffy
Admin
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-/

556Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Sat Nov 28 2020, 11:43

Sluffy

Sluffy
Admin
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

557Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Sun Nov 29 2020, 12:16

Sluffy

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



558Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Mon Nov 30 2020, 16:31

RangersDave

RangersDave
Mario Jardel
Mario Jardel
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.

559Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Mon Nov 30 2020, 17:54

Sluffy

Sluffy
Admin
@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.



560Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Mon Nov 30 2020, 19:55

RangersDave

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

561Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Mon Nov 30 2020, 21:40

Sluffy

Sluffy
Admin
@RangersDave wrote:Anyone remember that mid 80's show called 'soap'?  this has a feeling of that! lol

Yes, I've already referred to what's been going on as 'theatre' and 'panto', I think we can start to call it farce as well particularly if the next tweet is telling the truth!?!



On the face of checking the twitter accounts recent history, it does look like someone who could well be Rowland behind it.

Who knows what the truth is on social media but I must admit to finding it all a bit amusing, the poor 'Tic' fans must be tearing their hair out over all that's gone on with their club - non of which I must point out seems to be illegal in any way and underlines that the world is regulated by a legalistic framework and not a moralistic one.  Most people just can't grasp that point though.

562Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Wed Dec 02 2020, 15:19

Sluffy

Sluffy
Admin
Nixon story just now -

EF-HELL Wigan takeover stalls as EFL ask more questions about Spanish bidder Jose Miguel Garrido Cristo

WIGAN'S future is on the line as the EFL ask more questions about Spanish bidder Jose Miguel Garrido Cristo.

Latics are running out of time to close a deal to come out of administration while Garrido Cristo supplies more information about his business empire to pass the Owners and Directors test.

The former Albacete and Castellon owner is putting up around £1 million from his Eolus Capital group into buying and then running the League One strugglers.

The EFL have demanded bank statements about where Eolus Capital have got their funds from.

Their last accounts showed they have £8.5 million.

Leganes owner Felipe Moreno will be a major shareholder along with Garrido Cristo's brother Papadopaulo as the official partner.

Moreno has been passed by the EFL.

However it is the role of Jose Miguel Garrido Cristo that is being probed.

Meanwhile the Wigan administrators have set a THIRD deadline of Friday or they will end their period of exclusivity and listen to other offers.

Deal broker Ray Ranson has a rival bid, backed by long-term friend and financier Jonathan Rowland.

https://www.thesun.co.uk/sport/football/13361010/wigan-takeover-stalls-efl-cristo/


563Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Wed Dec 02 2020, 15:38

Sluffy

Sluffy
Admin
Now what's interesting (to people like me anyway) is that Eolus Capital of which the said Cristo is a director has just taken out loans secured against three properties it owns namely two flats in a residential development and what I assume is an industrial unit in London

https://find-and-update.company-information.service.gov.uk/company/10278350/charges

All seems very odd in the context of things going on at Wigan to me?

It might just be coincidental and nothing to do with the Wigan takeover but I'm not a great one for believing too much in coincidences myself.

564Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Fri Dec 04 2020, 22:24

Sluffy

Sluffy
Admin
The EFL have FAILED Wigan's proposed takeover!!!







565Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Sun Dec 06 2020, 09:44

Ten Bobsworth


Andy Walker
Andy Walker
@Sluffy wrote:The EFL have FAILED Wigan's proposed takeover!!!







Blame it on Brexit, Boris  and the Nabob of Bhanipur, Sluffy. The intriguefulness is terrific though.

566Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Sun Dec 06 2020, 12:40

Sluffy

Sluffy
Admin
@Ten Bobsworth wrote:Blame it on Brexit, Boris  and the Nabob of Bhanipur, Sluffy. The intriguefulness is terrific though.

Yes, it's entertained me with all the twists and turns so far although I feel sorry for their fans, although like ours and every other club, they some utter detestables amongst them.

The saga has not run its course yet and the EFL has made a pledge that they will lose no club to the effects of Covid so I fully expect the club to be on life support no matter what until this is over.

As it stands now, the Spanish bid has been given one more week of exclusivity to replace this Cristo bloke (and his intended £1m input) with someone the EFL can approve and Nixon is making out that, that is easy enough for them to do - but I'm not so sure, as this man seems to be the one behind the bid and not an 'add on' to it and that the bid IS £1m short and they had initially worked on the assumption/belief that the Wigan Supporters money would be 'loaned' to them for the purchase.

If the bid collapses the Administrators seem to be left with the 'Royle' offer (as in Joe Royle's son who was a Director at Wigan before the Administration), whose financial backer (the friend of Prince Andrew) has stated (albeit on twitter!) that he isn't!, an apparent fantasist ex-pat Wigan born financial 'fixer' type with apparently south east Asian money connections whose own daughter (again on social media) advised that no one should touch him with a barge pole, or the route the local MP, Lisa Nandy (Labour) is clearly championing and that is for the newly formed (or in the process of being formed?) Supporters Trust (which is the existing Supporters Club - and their £1m - formalising themselves into a legal entity to take ownership of the club.

No one other than the Spanish has put money on the table to show the Admin they are serious and not just tyre kickers.

The Admin state they only get paid in the case of a sale - not a liquidation, so they are desperate for a buyer - but clearly the longer this pantomime goes on, the more their costs go up and the bigger exposure they face to taking a loss, so hence why they've stuck with the only bid they've had, through thick and thin, from the 'dodgy' Spanish.

The Spanish put down a non returnable deposit which has funded the club in the recent month or two, which the Admin had to refund them if the Admin pulled out of 'exclusivity' until the EFL had come to a determination of their bid - so I guess if the Spanish don't come back within the week with a new plan, they will have lost - and allow the Admin to move forward a deal with anyone else who shows their money.

The recent 'bailout' money from the Premier League will fund the club until into early next year and it is in the lap of the Gods what might turn up for them until that money runs out.

I expect the EFL to in someway keep them going for the remainder of the season financially and the most likely outcome is for the ST to take on the club, although I've no idea how they could fund it, with the stadium being sold separately to the rugby club.  The money from the property sale, I believe, being the money intended to cover their fees.

I reckon there is still plenty of mileage in this story to go yet but who knows, normal financial rules don't seem to apply in the football world do they!

567Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Mon Dec 07 2020, 16:45

Sluffy

Sluffy
Admin
STATEMENT FROM THE JOINT ADMINISTRATORS (07.12.20)

THE JOINT ADMINISTRATORS PROVIDE AN UPDATE FOLLOWING THE STATEMENT FROM THE EFL ON FRIDAY 4 DECEMBER 2020.

As explained in the Statement, the EFL Board are not in a position to agree to an application to transfer the Club’s membership in the EFL to the proposed purchasers as the League’s requirements have not been satisfied.  We have received a detailed letter from the EFL explaining the reasons why.

We can confirm that one member of the Bidding Team, that has been providing advisory services and was to provide a small proportion of funding, is subject to a Disqualifying Condition (as set out in EFL Regulations).  By mutual consent, this member and all members of the Bidding Team related to this member have been removed from the process and from the Bidding Team.  These changes have been reflected at Companies House over the weekend.

The funds that were to be provided by these members are not to be utilised by the Club going forward.

The remaining member of the Bidding Team, within the EFL submissions made to date, has already provided proof of funding to show sufficient funds for the acquisition and two years trading as required.

We are continuing to work with the EFL and are in the process of providing revised submissions to reflect the revised position of the Bidder with the hope of bringing this matter to a satisfactory conclusion.

https://wiganathletic.com/news/2020/december/Statement-From-The-Joint-Administrators-07-12-20-/

568Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Mon Dec 07 2020, 22:35

Sluffy

Sluffy
Admin
The young lad has pulled off another scoop with the interview from the ex-pat Wigan bloke, Tony Frampton, who seems to be known to the Admin and who claims he is a serious bidder.

He's the one whose daughter wrote on Facebook not to touch him with a bargepole!

I've not viewed the video yet but it's here for anyone who wants to -

569Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Tue Dec 08 2020, 12:25

Sluffy

Sluffy
Admin


570Wigan in Administration - Page 19 Empty Re: Wigan in Administration on Tue Dec 08 2020, 14:47

Ten Bobsworth


Andy Walker
Andy Walker
Companies House shows that the shares in AFC Wigan Athletic (£100) were transferred from Antonio Garrido Papadopaulo to a Spanish real  estate company, Hause La Fuente, based in Leganes, on 5 December 2020.

Make of that what you will.

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