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!
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