Wigan fans going round and around in circles again!
This was posted in the Mail today -
Wigan sack CEO Mal Brannigan amid pay crisisThe crisis at Wigan Athletic — which saw players who were furious at not receiving their wages on time for a fifth time go on strike — has resulted in the end of the road for Mal Brannigan. Agenda readers may remember the outgoing chief executive as the man who asked if there was 'anything we could do to keep this out of the paper' on one of the previous occasions of late payment.
It is understood a review of the club's finances uncovered a dramatic overspend under the watch of Brannigan, who was paid about £250,000 a year — two and a half times as much as the same role paid when the Championship side were in the Premier League.
It is understood that Wigan, who were hit with a three-point deduction, now need to find about £7million to see them through to the end of the season having finally paid players' wages on Friday.
https://www.dailymail.co.uk/sport/othersports/article-11904629/SPORTS-AGENDA-Michael-Vaughan-goes-offensive-charity-event.htmlThere are really two points here - £7m to the end of the season and the former CEO (and also a Director of the club) £250k wages.
Most their fans believe the £7m is far to high an amount and the £250k is a lie.
I believe both totals are probably near the mark.
My reasoning is that the clubs previous years account's as having to pay wages of roughly £1m per month (every 28 days in their case).
Now the end of the season I believe is all the way through to the start of the next season in August and not the last ball being kicked this season in May, therefore that's another 5 pay days away (the next pay day falls due the first Friday in April remember!)
This season, being in the Championship the wage bill will be higher, so if we said 5 pay days at £1.2m a month, that comes to £6m - which does indeed make the £7m figure stated seem more than reasonable in my eyes.
As for the £250k paid to their now former CEO, the Wigan fans seem to be looking at what the highest paid Director was paid in their last years accounts, which is a lot less than the £250k figure.
The thing is though as the CEO he is an employee of the club and as such will be paid from the clubs wages!
He may also receive some payment being a Director as well - and combined the two amounts may well total the £250k stated.
(I suspect the person receiving the highest Directors payment may well be the clubs Chairman and not the CEO anyway!).
Interesting to see where all this will go as the club is clearly at the moment nothing more than a money pit for the owners.
They seem to be be wealthy on the one hand but have now missed payment of wages on time on several occasions now, which seems mystifying if they really are as rich as they appear to seem?
Something's not right to my mind but I can't put my finger on exactly what it is.
We already know the owners have sunk £16m into the club already and look at the mess they are currently in for it!!!
The next hurdle for them will be the next wages payment in early April.
(and presumably putting the 1.25 extra wages into a separate account as well, as they were told to do last time).
Will the owners still be happy to throw in more money...?