Recent FA Cup winners Wigan Athletic are in administration
www.bbc.co.uk/sport/football/53247333
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Recent FA Cup winners Wigan Athletic are in administration
www.bbc.co.uk/sport/football/53247333
Having been taken over 1 month ago.
https://www.theguardian.com/football...-kong-takeover
12 point deduction confirmed.
There are probably many clubs that are technically bankrupt including our own if the backing of the owner was withdrawn.
Wigan Athletic have become the first professional club in England to fall into administration during the Covid-19 crisis, only four weeks after a Hong Kong-based consortium took over the Championship club, promising to secure its future.
The EFL confirmed Wigan would incur a 12-point penalty, which automatically applies to any insolvency event, with a decision to be taken at the end of the season over whether it will apply this season or next. Such penalties are applied in a following season only if a club is already relegated, which renders the deduction meaningless. In Wigan’s case, with Paul Cook’s side 14th and eight points above the relegation zone, the penalty is likely to be applied this season and could push the club into League One.
As recently as 24 June, a businessman based in Hong Kong, Wai Kay Au Yeung, who had initially been a minority shareholder in the consortium, Next Leader Fund (NLF), was registered as the owner of more than 75% of the club’s holding company.
The club stated on 4 June that under the EFL’s owners’ and directors’ test, the league had approved the sale to NLF by the owners since November 2018, International Entertainment Corporation (IEC), another Hong Kong-based, Cayman Islands-registered company, which owns a hotel and casino in the Philippines.
The EFL’s test and takeover process involves determining that a new owner has the money to buy a club and support it financially for at least the remainder of the season and the whole of the following season. However less than a month later and a week since Au Yeung was announced as the majority owner, the club has appointed the administrators Gerald Krasner and Paul Stanley, of insolvency practitioners Begbies Traynor.
https://www.theguardian.com/football...-kong-takeover
How can the new owners pass the EFL's owners and directors test - that supposedly guarantees financial support for the club up to the end of the following season - and then put the club into administration in under a month? Another damning comment on the EFL!
I hope they appeal the points deduction. As you say... new owners coming in after passing the shoddy owners test and going into administration that quickly... There's something rotten in Denmark :sherlock:Quote:
Originally Posted by jon1959
I wonder if we'll put in a cheeky bid for Kieffer Moore. Or they have a young left back who is highly rated in Antonee Robinson
Wasn't he on his way to Inter in January before talks broke down?Quote:
Originally Posted by Rjk
Thank goodness we have Tan, Wigan’s new owners are obviously dodgy!Quote:
Originally Posted by EastbourneBlue
We are running low on our allotted number of shit strikers so I imagine that isn't far off the realms of possibility.Quote:
Originally Posted by Rjk
Robinson please! Although I think we'd lose the fight with AC Milan.Quote:
Originally Posted by Rjk
:hehe:Quote:
Originally Posted by Der Kaiser
I do feel bad for them. I didn't realise until recently that they're a fairy young club. 1932 they were formed - must be pretty low compared to clubs in this league alone.
Live like you wanna live, I say.Quote:
Originally Posted by B. Oddie
Was there for the first game of the season. Seems like years ago rather than 11 months.Quote:
Originally Posted by B. Oddie
Really decent fans and down to earth people the diehards of which have stuck with them on the roller coaster up to the FA Cup winning and back down again. I hope they regroup and come back stronger (including any local businesses that the new owners may have done over)!
https://www.bbc.co.uk/sport/football/53256015
Wigan Athletic administration could be tip of a large iceberg in EFL
Reckon quite a few clubs could go through, wigan saving stokes arse.....gutted
Oops... I got the wrong Milan earlier :facepalm:Quote:
Originally Posted by PhyllisStant
Sorry everybody... Wrong Milan!
we won't forget thisQuote:
Originally Posted by Heisenberg
I would expect nothing less.Quote:
Originally Posted by Rjk
*Hara Kiri*
They tried to join the Scottish League as the football league would not let them in as they thought they were a rugby league town.Quote:
Originally Posted by B. Oddie
I don't think Whelan will let them be liquidated but if they were I think the Bluebirds only got 1 point off them over the two league matches.
ouch :hehe:Quote:
Originally Posted by Der Kaiser
Still remember Kavanagh in that signing photo.
Still, horrible for their fans!!
I think Wigan can still survive - they are one of the Championship's form teams and I feel this will encourage a siege mentality in their management, coaching and playing staff.Quote:
Originally Posted by goats
I'm struggling to see how any club other than the bigger Championship clubs can make it through the year if current 'restrictions' remain. There's the drop in revenues this season, but who on earth is going to buy a season ticket for 2020/2021 ? To watch glorified training sessions behind closed doors on TV ?
Lots of speculation that several other clubs are in the mire.
I have a feeling what with both rugby and cricket clubs attempting to slash wages and change the set ups that this whole Covid situation will lead to wholesale changes in the way sport is run .
Whatever the end result it is going to be a bumpy ride and I personally feel that this could lead to a franchise system , USA style, for the football community.
Question is would we be the Franchise holder, amalgamated into a Welsh region, lose out entirely or the feeder team for someone?
Obviously pure speculation by me but you never know.
I'm not so confident. He's taken a back seat for a while and you could speculate that he wants out. If his other businesses are affected, it stands to reason that he would be prepared to let the City go.Quote:
Originally Posted by Ianto13
Quote:
Originally Posted by Heisenberg
Were you thinking of dog trainer extraordinarre, Caeser Millan? We've all done it.
(Joint administrator Gerald) Krasner said there are "no guarantees" Wigan's players will receive their wages, which are due on Friday, although he hoped to pay at least some of them.
https://www.bbc.co.uk/sport/football/53261368
(Former Chairman) David Sharpe says he "can't believe" the rumour that Wigan Athletic was put into administration as part of a bet on them being relegated.
https://www.wigantoday.net/sport/foo...future-2903216
This is beginning to look like it was part of a scam, that would see the club relegated and allow the former owner to cash in on a massive bet. It goes like this - place big bet that Wigan will be relegated, sell club to friend, friend puts club into liquidation, club gets points deduction and are relegated, bet pays out.
It could be that the previous owner placed the bet some time ago, but results worked out better than he thought, so he had to take extreme action. Either way, if it is true, you can't help wonder why nobody ever thought of this before. Or maybe they have?
Not suggesting it was dodgy, but does anyone remember Rick Wright getting a lot of publicity from betting we would win promotion in 92-93? I seem to remember he netted £500,000 when we went up. Different times, perhaps.