Wigan in Administration

Calm down Dave.

Oi, you lot!

Any bickering then stick to your own threads!

Bob you've got the Vince one, Norpig you've got the New Year, new you, Bonce you have your own long standing one and leave my poor 'Wigan' thread alone!

Go on, back to your own threads, the lot of you!

Sluffy wrote:Oi, you lot!

Any bickering then stick to your own threads!

Bob you've got the Vince one, Norpig you've got the New Year, new you, Bonce you have your own long standing one and leave my poor 'Wigan' thread alone!

Go on, back to your own threads, the lot of you!

Aw gee whizz Pa.

Anyway the Admin has published their update and although it says a lot, it doesn't actually say much at all!

Bottom line is that the 'favourite' Frampton has fallen at the proof of funds and is added to the growing list of those now out of the race and that yet another week has gone by without anybody being serious enough to put their money down and buy the club.

Full report here -

https://wiganathletic.com/news/2021/january/Statement-from-the-Joint-Administrators-22-01-21-/

Sluffy, not being up on these matters, how long can this reasonably go on?

boltonbonce wrote:Sluffy, not being up on these matters, how long can this reasonably go on?

The quick answer is to say 'when the money runs out' but the more difficult understanding is when that will be, let me try and explain if I can.

Although Wigan are having to play the kids, apparently some of them are quite good and the Administrator in his update today states that they already have bids for three players but they have so far rejected them.

Even if the bids were accepted, the power still lies with the player whether he wants to move club or not, or even if he did, the personal terms are good enough to go.

Another issue I don't know about is what if anything the EFL are loaning clubs who are finding it hard with Covid and no crowds. Maybe the EFL are helping Wigan by those means, although I didn't notice anything in the scan of the accounts I did the other day?

Another rabbit that could be pulled out the hat perhaps is the Supporters Clubs £850k crowdfunding they have, which is pledged to 'save' the club. Maybe they might feel they should use some or all of it to ensure the club finishes the season, or indeed use it to 'buy' the club itself (which don't forget is on sale for just £1). There is of course the little matter of the stadium but maybe the council or the rugby will buy that and allow the club to play there as a tenant?

So as you can see things are not as clear cut as you first might think.

I tend to believe they will survive to see out the season by some means or other but if they end up in the hands of the Supporters Club then they could only be allowed to stay in the league if they can show proof of funding which is being stated as £4m being required to keep it going until June 2022. Maybe the future for them is they survive this season but end up in non league (rather than Division 4 like we are) next season.

Nothing really is clear cut at all. The Administrators have already set numerous deadlines where by if a deal isn't struck by a certain date then the club will have to fold - yet months later the circus of Administration still goes on unabated.

I really can't believe decent owners have waited all these months to suddenly step in now to save them, I reckon we are now down to the mentalists or vultures and the EFL have ensured by how the dealt with the dodgy Spanish that they aren't going to allow that to happen this time - so the only good guys I can see is the Supporters Club but they don't have the required £4m to fund the club in the EFL but would if they played at a lower level (like Bury's Phoenix club has had to do).

That's the best guess I have but don't bet your mortgage on it as normal companies practices and rules seem to go completely out the window when applied to how and why people buy clubs and run them how they do!

Thanks. A sad state of affairs.

If Nixon is to be believed, the new favourites to buy the club are those headed up by the banned company director (who is just the 'fixer' rather than the buyer though).

Does make you wonder though who you might be possibly be getting in bed with if they choose a disbarred person to head up their bid though!

Should be fun to watch the next stage of this saga I would think!

Wigan bid. The foreign group who showed funds at start of last week are now being checked by the EFL. They have a British team in place to run club if given green light. No names but those who know them seem quite cheerful. Would have to describe these as leading the race.

— Alan Nixon (@reluctantnicko) January 23, 2021

Might as well put this here -

Breaking: Forgotten Nottingham Forest attacker joins Wigan Athletic in January move.

It has been three years since Zach Clough last played for the Reds having signed from Bolton Wanderers in 2017

Attacker Zach Clough has left Nottingham Forest and joined Wigan Athletic on a short-term deal until the end of the season.

It is three years since the 25-year-old last played for the Reds, when he came off the bench in an FA Cup defeat at Hull City back in January 2018.

He has not been part of the first-team set-up at the City Ground for some time, and, with his contract coming to an end in the summer, now leaves to link up with the Latics.

He has had loan spells with the Trotters and at Rochdale in the last few years, with his last competitive game coming for the latter, in April 2019.

https://www.nottinghampost.com/sport/football/transfer-news/nottingham-forest-breaking-wigan-athletic-4915517

I hope he gets his career back on track, not sure he ever wanted to leave us for Forest but i heard he was on 20K a week there so can't blame him really.

Apparently the new front runners to buy the club are from Bahrain?

Wigan. Mystery bidders are from Bahrain. Had made a previous approach but didn’t follow. Now down the line with EFL. Also have British partners who would run things here.

— Alan Nixon (@reluctantnicko) January 27, 2021

I think like me Nixon is a bit sceptical about where this is heading to!

The oil field at Christopher Park https://t.co/Rnad491NC8

— Alan Nixon (@reluctantnicko) January 27, 2021

(Christopher Park is Wigan's training ground)

A bit more from Nixon, then the Manchester Evening News adds a name to the story!

Wigan are takeover target for mystery Bahrain group who want to save them with £3m cash injection

WIGAN are a takeover target for a mystery Bahrain group who want to save them from their current crisis.
The Latics could be bought out by the Middle Eastern investors who are willing to pay £3million to take them out of administration after SEVEN months of torture.
The Bahraini group are due to speak to the EFL before the weekend and their British representatives have already met with the local council.
Their identities are to remain secret until they gain full approval but the parties involved claim they are legitimate and have funds.
The cash has been shown to the administrators and the EFL who are in the process of their financial checks.
It would be a major boost for Wigan to find a wealthy owner.
They have been torn apart since their Hong Kong owners dumped them while safely in the Championship.
The Latics are now facing relegation to League Two but the Bahrainis hope to steady the ship and start to rebuild again.
A demoralising 5-0 home defeat to Blackpool on Tuesday night left the club 23rd but only two points from safety.

https://www.thesun.co.uk/sport/football/13864766/wigan-athletic-takeover-bahrain-administration/?utm_medium=Social&utm_campaign=sunfootballtwitter&utm_source=Twitter#Echobox=1611753036

Ex-Manchester United midfielder fronting group as fresh favourites emerge to buy Wigan Athletic

Former Manchester United midfielder Darron Gibson is fronting a group that is seeking to buy administration-hit club Wigan Athletic.
Now, according to The Athletic, former United and Everton midfielder Gibson is fronting a group that has emerged as the fresh favourites to buy the DW Stadium club.
The 33-year-old is currently on the books of League Two outfit Salford City.
The report claims that the group is understood to have shown it has the required funding to buy the club and is due to meet the EFL this week.
The group in question is reported to include a management team with a 'strong track record' in British football and a foreign investor is backing them.
The report said: "Gibson’s group, which might be joined by two other footballers, is understood to have the funds to purchase the club in a bank account and a loan lined to fund the club going forward."
Gibson played for the Latics 18 times during the 2018/19 campaign and has been with the Ammies since February 2020.
He scored 10 goals in 60 games for United after coming through the youth ranks at Old Trafford, before moving to Everton in 2012.
He scored twice in 62 games for the Toffees, before moving to Sunderland for whom he racked up 30 appearances.

https://www.manchestereveningnews.co.uk/sport/football/football-news/wigan-athletic-takeover-darron-gibson-19714555

Further weekly update from the Administrators today, link below.

The only thing of interest is this line -

"So far, all requests from the manager have been met by the administrators and we are all sensibly working within a budget which will see the club survive until the end of the season, whatever the outcome of the sale of the club".

I've no idea where this money as come from (EFL season payment or loan perhaps???) but the bottom line is that their season is secured come what may.

No doubt the EFL will be delighted with this (and why I'm guessing they have possibly/probably had some input into it???).

https://wiganathletic.com/news/2021/january/Statement-From-The-Joint-Administrators-29-01-21-/

Sluffy wrote:Further weekly update from the Administrators today, link below.

The only thing of interest is this line -

"So far, all requests from the manager have been met by the administrators and we are all sensibly working within a budget which will see the club survive until the end of the season, whatever the outcome of the sale of the club".

I've no idea where this money as come from (EFL season payment or loan perhaps???) but the bottom line is that their season is secured come what may.

No doubt the EFL will be delighted with this (and why I'm guessing they have possibly/probably had some input into it???).

https://wiganathletic.com/news/2021/january/Statement-From-The-Joint-Administrators-29-01-21-/

The mysteries of football finance, Sluffy. All we need are experts like Conn, Maguire, Iles, SKY, Talkshite, Auntie Beeb and Lusty to de-mystify it all for us.

Did you btw know that Debbie Jevans won Junior Wimbledon as a youngster and that the EFL now has no less than FOUR qualified chartered accountants on its Board and a more than healthy annual income?

I've got a great deal of sympathy for the EFL myself.

Their job really is just to regulate and administer a 'game' in which all the clubs in their leagues have a say/vote in how things are run. Not only that but their head was cut off in a manner of speaking when all their top clubs broke away to form the Premier League and all the big money followed it and left them behind.

Then EFL clubs strived to get promoted out of the EFL and financially crippled clubs fell back into it from the PL above and very, very big money and associated dodgy characters got involved because of this money and the EFL simply don't have the tools to make sure everybody who gets into owning clubs are whiter than white or even that they will spend the money running their clubs even when they have shown they have/(had?) the money to do so.

They are on something of a hiding to nothing really, from all sides particularly fans who haven't the foggiest about what the EFL attempts to do but hurl abuse at them non the less.

As for Wanderlust I best be careful about joining in with your lampooning of him as I clearly got a mild public rebuke from one of my colleagues behind the scenes yesterday for doing so.

Ah well, anything to keep the peace.

And no I didn't know about Ms Jevans tennis achievement, well done her.

Ten Bobsworth wrote:
The mysteries of football finance, Sluffy. All we need are experts like Conn, Maguire, Iles, SKY, Talkshite, Auntie Beeb and Lusty to de-mystify it all for us.

Did you btw know that Debbie Jevans won Junior Wimbledon as a youngster and that the EFL now has no less than FOUR qualified chartered accountants on its Board and a more than healthy annual income?

I really haven’t got the time to explain acquisitions and investments to you Bob as I reckon I only have 20 years to live at best.
My time would be more productive teaching the cat Mandarin.

Breaking news:
The cat has mastered her first Mandarin phrase. We’ve always got on well and this morning she said I was her “close friend” when I fed her.

wanderlust wrote:Breaking news:
The cat has mastered her first Mandarin phrase. We’ve always got on well and this morning she said I was her “close friend” when I fed her.

My cat doesn't understand business finance but there are some things she understands very well. Are there some things you understand very well, Lusty?

Sluffy wrote:I've got a great deal of sympathy for the EFL myself.  

Their job really is just to regulate and administer a 'game' in which all the clubs in their leagues have a say/vote in how things are run.  Not only that but their head was cut off in a manner of speaking when all their top clubs broke away to form the Premier League and all the big money followed it and left them behind.

Then EFL clubs strived to get promoted out of the EFL and financially crippled clubs fell back into it from the PL above and very, very big money and associated dodgy characters got involved because of  this money and the EFL simply don't have the tools to make sure everybody who gets into owning clubs are whiter than white or even that they will spend the money running their clubs even when they have shown they have/(had?) the money to do so.

They are on something of a hiding to nothing really, from all sides particularly fans who haven't the foggiest about what the EFL attempts to do but hurl abuse at them non the less.

As for Wanderlust I best be careful about joining in with your lampooning of him as I clearly got a mild public rebuke from one of my colleagues behind the scenes yesterday for doing so.

Ah well, anything to keep the peace.

And no I didn't know about Ms Jevans tennis achievement, well done her.

Debbie Jevans also played a big part in planning the London Olympics, as did one of my close neighbours. I'll mention it next time I see him.

Another former Wanderers has joined Wigan (he scored for them at the weekend too (still lost though!).

Latics have confirmed the signing of Jamie Proctor from Rotherham on loan for the rest of the season. #wafc pic.twitter.com/JaVieOXm4W

— Paul Kendrick (@PKendrickWIG) February 1, 2021

They already had this exwanderer too!

🤩 Delighted to have you here @VivSolomon17!

Big welcome back to Viv Solomon-Otabor who has re-signed until the end of the 2020-21 season.#wafc

— Wigan Athletic (@LaticsOfficial) February 1, 2021

As we know Clough is now with them and the gossip today is that yet another ex-Wanderer is inbound for them too!

I won't spoil the surprise just in case it does actually happen!