Wigan in Administration

Again Sluffy all good traits to have but please stop and re-read some of your posts before hitting send. You do have a habit of coming over as being patronising and all knowing and that others on here are just sheep who believe any old tripe.

Norpig wrote:Again Sluffy all good traits to have but please stop and re-read some of your posts before hitting send. You do have a habit of coming over as being patronising and all knowing and that others on here are just sheep who believe any old tripe.

Well sometimes if you KNOW the way things work and people fully belief different to you, then I guess what I say may seem to be seen as patronising and that people ARE believing some old tripe.

I wouldn't dream of telling you that you don't know your job that you have spent many years in and no doubt had professional training in, or that you were talking out of your arse on the subject.  I wouldn't post abuse about what you say when you attempt to correct my misunderstanding and lack of knowledge about it.

I might not accept that you are an expert or anything simply because you are just another random person on the internet and I only have your word that you do the job you do BUT I would wind my neck in a bit and stop repeating stuff off social media (from other random people on the internet who I don't know from Adam) until I was more certain of my facts.

That simply doesn't happen, not even on here.

I've never wanted Nuts to simply be yet another place where the truth is drowned out by prejudice and ignorance.

Is that a bad thing of me to want?

Anyway its only the internet, I can't change how people behave and what they want to believe in real life - maybe they are right and we are ruled by lizards disguised as humans who are paedophile devil worshippers.

People believe what they want to I suppose regardless of any facts or whether it clearly is utter tripe or not.

Wigan's Spanish bidders have effectively got cold feet and walked off!!!

They've reduced their bid by half, will refuse to pay non football creditors and demanded they won't get a further 15 point penalty for doing this knowing that isn't possible under EFL rules - and thus forcing the Administrators to end their preferred bidder status with them.

STATEMENT FROM THE JOINT ADMINISTRATORS (05.01.21)

The Joint Administrators wish to provide an update regarding the current position.

As of 11 am today, the Administrators have broken off negotiations with the Spanish bidder. The facts are that as late as Christmas Eve the Bidder indicated that they wanted to complete the deal immediately and had wired money from Spain to their UK solicitors. This was confirmed as being received by their solicitors over the Christmas period. The sale contract was agreed, the documentation had been signed in relation to the assignment of the leases with the Council (Stadium) and College (Training Ground) and completion was planned to take place in between Christmas and New Year.

However, over this weekend we received a letter from the Bidder reducing the bid by almost 50%.  This would not allow us to pay non-football creditors the required 25p in the £ to avoid further sanctions against the Club. This would result in a 15 point deduction and would effectively relegate the Club to League 2. The Purchaser was insistent on offering the reduced price but was not prepared to conclude the deal unless the 15 point deduction was waived.  Under the EFL insolvency policy, this is not possible and the deal is therefore unable to be concluded.

We have informed the EFL and are now starting to talk to other bidders who have expressed interest and will provide an update when there is any definite news.

https://wiganathletic.com/news/2021/january/Statement-From-The-Joint-Administrators-05-01-21-/

Did they reduce the bid because they thought relegation was likely or just chancing their arm?

Not entirely unexpected wouldn't you say, Sluffy? I would.

I'm still waiting for Lusty's expert assessment of BWFC's financial position. Do you think I might have to wait a while?

Norpig wrote:Did they reduce the bid because they thought relegation was likely or just chancing their arm?

I've no idea to be honest but I rather suspect it was neither of those.

I won't bore you by retelling the whole saga but my view is that they never had the money in the first place, they tried to get the Supporters Group to put in their £850k and I think they smelt a rat and kept away from them since, then the bloke who was buying the club (with his brother) tried to put £1m in the pot and the EFL obviously didn't like where the money originated from, then the money man said that he was buying the club all by himself anyway (why didn't he just do that in the first place then?) and the Administrators (who I'm not at all impressed with on a professional level) let it be known that the money was there, they said that the EFL was happy and all was left to do was sign and exchange contracts - yet nothing happened for weeks until this!  Clearly all wasn't as rosy as they were painting things were they!

I've no idea why anyone would want to buy a club in normal circumstances (most of them run at a loss and depend on benevolent owners funding the shortfall from their own pockets), so why anyone would want to buy a financially bust club who can't fill their stadium when fans are allowed in anyway, in the middle of a worldwide pandemic and with no chance of making a return on their money is beyond my understanding.

Saying that though there seem to be at least three other groups looking to buy, one headed by someone called Frampton (ex pat Wiganer) whose own daughter took to social media to tell the world he can't be trusted!, another involving Ray Ransom (who was behind Coventry City selling their stadium and effectively who have been homeless since) and the Supporters Group who clearly can't fund a league team - they have worked miracles to collect £850k from crowd funding but compare that to needing £1.5m per season just on players wages and that being in the fourth division like we are.

As far as I can understand it the Administrators only get paid if they sell the club and the only asset they have is the ground - and that's why the deal is £1 for the club and £3m for the ground but you have to buy both - the EFL will not sanction a sale if the club hasn't a guaranteed venue to play it's games on.

My guess is that some deal will be concocted whereby the rugby club will buy the ground, the Supporters Club take on the club but still play at the ground and the Council finds some means of helping the club albeit they are constrained in using public money for private businesses (if the Supporters Club becomes a not for profit organisation then this might be a way around this issue?)

All in all it is a mess for them and anything more than survival will be a bonus for them I would imagine.

Ten Bobsworth wrote:Not entirely unexpected wouldn't you say, Sluffy? I would.

I'm still waiting for Lusty's expert assessment of BWFC's financial position. Do you think I might have to wait a while?

Well I can't say I'm surprised but at the same time I still can't understand why FV bought us, so I wouldn't have been shocked if the sale had gone through either!

It did have a bad smell to it all though.

As for Wanderlust you've clearly sussed him out too and I certainly suggest you don't hold your breath until you get a reply from him because you won't be getting one.

Wanderlust has told us all about how he is a Financial Advisor and how he's done important work for various public bodies in such a capacity and told us he has an MBA (from a premier awarding body no less!), he's also told us how Anderson raped and pillaged the clubs assets to line his own pockets and repeatedly ignored my many requests as to what assets these were, as there wasn't any to be sold off in the first place!

I know you like to refer to Walter from 'Nearest and Dearest' but I think you also have another Walter on your hands with Wanderlust, Walter Mitty!

I was quite interested in this thread and was on the point of asking your opinion regarding the similarities between Wigan's position in the League One table as ours at the time we (allegedly) had international investment rumours related to our survival struggle - and how that may affect investor perspective.
But then you two sad tosspots started whingeing on about my degrees and career. Surprised you didn't manage to squeeze in a snide remark about my footie - which you'll be pleased to know is off the menu for now.
You really are sad as fuck.
And Bob - I'm not interested in your thread no matter how desperate you get my attention you become. It just makes me be rude - which I really don't want to be. Try being humorous and provide some entertainment like the good folks of this parish. And the Albertos.

Hahaha!



You ask MY opinion on anything...

...yeah right!!!

...as though that would ever happen!




You do make me laugh!!!

Anyway -

Begbies Traynor Administrator Paul Stanley on Wigan Athletic's Spanish takeover falling through.

Sluffy wrote:

Well I can't say I'm surprised but at the same time I still can't understand why FV bought us, so I wouldn't have been shocked if the sale had gone through either!

It did have a bad smell to it all though.

As for Wanderlust you've clearly sussed him out too and I certainly suggest you don't hold your breath until you get a reply from him because you won't be getting one.

Wanderlust has told us all about how he is a Financial Advisor and how he's done important work for various public bodies in such a capacity and told us he has an MBA (from a premier awarding body no less!), he's also told us how Anderson raped and pillaged the clubs assets to line his own pockets and repeatedly ignored my many requests as to what assets these were, as there wasn't any to be sold off in the first place!

I know you like to refer to Walter from 'Nearest and Dearest' but I think you also have another Walter on your hands with Wanderlust, Walter Mitty!

You two won't be happy till you've driven everyone away and it's just the two of you left will you? 

Norpig wrote:
You two won't be happy till you've driven everyone away and it's just the two of you left will you? 

Mummy, mummy, Norpig keeps skriking. I think he wants his dummy back.

Ten Bobsworth wrote:
Mummy, mummy, Norpig keeps skriking. I think he wants his dummy back.

My Mum is dead but thanks for asking about her, by the way you are still boring 

Norpig wrote:
My Mum is dead but thanks for asking about her, by the way you are still boring 

And you are still a pea-brained pillock.

Ten Bobsworth wrote:
And you are still a pea-brained pillock.

And proud of it, this will be my last reply to you, it's been pointed out that i'm only giving you more oxygen so that's the last you'll hear from me you'll be pleased to hear.

Ten Bobsworth wrote:
And you are still a pea-brained pillock.

Just stop! Every time I come in here it’s that same bullshit. Just give it a rest.

Norpig wrote:

Sluffy wrote:

Well I can't say I'm surprised but at the same time I still can't understand why FV bought us, so I wouldn't have been shocked if the sale had gone through either!

It did have a bad smell to it all though.

As for Wanderlust you've clearly sussed him out too and I certainly suggest you don't hold your breath until you get a reply from him because you won't be getting one.

Wanderlust has told us all about how he is a Financial Advisor and how he's done important work for various public bodies in such a capacity and told us he has an MBA (from a premier awarding body no less!), he's also told us how Anderson raped and pillaged the clubs assets to line his own pockets and repeatedly ignored my many requests as to what assets these were, as there wasn't any to be sold off in the first place!

I know you like to refer to Walter from 'Nearest and Dearest' but I think you also have another Walter on your hands with Wanderlust, Walter Mitty!

You two won't be happy till you've driven everyone away and it's just the two of you left will you? 

I agree.

It's just beyond ridiculous this now.

Two grown men who should know better.

Where is our leader, Nat? Flounced off for a couple of weeks again? Gone for good? What’s the story?

She's probably had enough of all this shit Fin and I can't blame her.

karlypants wrote:She's probably had enough of all this shit Fin and I can't blame her.

She comes back to post on the prediction threads, the crafty old cow. I think she's having a face lift.

boltonbonce wrote:
She comes back to post on the prediction threads, the crafty old cow. I think she's having a face lift.

Front or back?