Wigan Athletic go into administration

Kenneth E End

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To be honest, it was only a matter of time that someone was going to go pop. I'm surprised it has taken as long as it has, but I suppose cash reserves would've been decimated if players hadn't agreed significant deferrals.

Wigan would go bottom with 38 points after a 12 point deduction.
 

MagpieBee

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To be honest, it was only a matter of time that someone was going to go pop. I'm surprised it has taken as long as it has, but I suppose cash reserves would've been decimated if players hadn't agreed significant deferrals.

Wigan would go bottom with 38 points after a 12 point deduction.
Can’t tell if this will help us or spur them on for our game on Saturday
 

Kenneth E End

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Not sure of the situation with the playing staff, but surely this cannot happen at a worse time. Will the players still play on Saturday considering we're now on 1st July?
 

kieran_vale

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Very strange to put it mildly for this to happen 4 weeks after being taken over.
 

Huntsman94

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Looks like the recently updated "fit and proper EFL test" has worked wonders...
 

Gassy

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EFL announced a -12 now. Ffs, their decision making is all over the place

Really feel for Wigan
 

Super_horns

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12 points deduction this season but if they finish in the relegation zone anyway it will be carried over till the next season in League One.

Seems like the previous owners had some sort of loan against the club which maybe these new owners aren't prepared to pay?
 

That Fat Centre Half

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Read around this a bit and whilst COVID obviously playing a role it seems the owners are properly dodgy, they have gone from being part of this owners company/ a subsidiary of it, to being registered in the Caymans (yeah I know) and not a part of it with a new front man ostensibly in charge. I say that because the old owners company lent the “new Owner” 28 million of working capital in May originally for 12 months but can be recalled earlier with 21 days notice which I guess is what has happened?

Seems like the owner just not wanting to put anymore money in and Using his company to get the money back he’s lost from what I can make out. Either way seems the new owner a month ago was just a smoke and mirrors move to extricate the actual owner from something he didn’t want to be part of with as little damage to him and his wider business as possible whilst screwing the club

Points deduction but there is some talk of a force majeure clause in there which they could use to challenge it - sets a bit of a dangerous precedent though.

Feel for the supporters, been on a great run and looked out of the woods relegation wise then this comes through.
 

oakroader

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while other clubs shit themselves with the possibility of similar repercussions ...
we could end up mid league...:thumbs:
 

Indian Dan

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I can’t make my mind if we’re better off with owing Power and whoever else may have a finger in our pie money on a personal level as they’d be less inclined to turn the club turtle and lose their money.
 

PuB

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Always a particularly tinpot club
 

Super_horns

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Dave Whelan will be back with his broken leg.
 

Kenneth E End

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I can’t make my mind if we’re better off with owing Power and whoever else may have a finger in our pie money on a personal level as they’d be less inclined to turn the club turtle and lose their money.
You're better off not having Power anywhere near your club.
 

Indian Dan

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That appears to be happening. He’s certainly trousered some serious wonga from the club - transfer money, high interest on ‘personal’ loans etc, but, tbf, we’ve never paid wages late, continued to pay Martin Ling’s salary after he had to resign due to depression.

We’re in sight of purchasing the ground in partnership with the Supporters Trust and we’ve got a cracking manager and a squad that looks well ready for L1.
 

Luke Imp

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All a bit dodgy innit. Not a fan of owners putting such high interest rates on loan, otherwise it becomes an easy way to make money. The rates should be set in line with the Bank of England interest rate.

Coincidence that it was timed 1st July, the day after contracts ended (in theory, I know some extensions were agreed)?

 

That Fat Centre Half

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All a bit dodgy innit. Not a fan of owners putting such high interest rates on loan, otherwise it becomes an easy way to make money. The rates should be set in line with the Bank of England interest rate.

Coincidence that it was timed 1st July, the day after contracts ended (in theory, I know some extensions were agreed)?

This loan is what I was referring to in my post yesterday. Can’t believe that the EFL rubber stamped the “new owner” (it’s not its the same guy) it’s so unbelievably blatant what was going on with that whole transaction.

The press don’t seem to have picked up on this properly either, seen the “old owner” interviewed in one place saying how well a run club it was when he “left”!
 

Indian Dan

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Whelan also said Choi was ‘a safe pair of hands’ to take Wigan forward.

Let’s be honest, the vast majority of owners are a bunch of cnuts
 

Luke Imp

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Whelan also said Choi was ‘a safe pair of hands’ to take Wigan forward.

Let’s be honest, the vast majority of owners are a bunch of cnuts
I think the problem is that the person Whelan sold to has then sold it on again, or had a re-structure that means he isn't the largest shareholder anymore.
 

Indian Dan

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Sold to Choi. Choi then sold it 4 weeks ago to another company 51% owned by Choi.
 

That Fat Centre Half

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Rick Parry, EFL chairman has now apparently been videod making a statement that there is a very large bet in the Philippines on Wigan being relegated as well as various other “rumours” flying around.

At the very least the guy is a useful idiot to those wanting to use football for illicit activity and at worst culpable in fixing the results of the season. Should resign immediately.
 

Laker

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There’s loads flying round Twitter at the moment. Wigan have been properly shafted. The administrators are as confused as anyone as they think the club is well run and doesn’t even need to be in administration. Looks like the owner panicked because his bet wasn’t going to come in once Wigan had won three on the trot.

Edit: Luke’s links are what I’ve been reading.
 

That Fat Centre Half

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It’s an absolute scandal the EFL let the “takeover” transaction through last month. An even cursory look at it shows it to be a sham transaction, what on Earth the EFL were doing in approving that I will never know.

I know much has been made of the fit and proper test and rightly so but this is the worst yet I think. To my view of this I don’t even think they have followed there own processes on that deal last month, it’s so obviously a fake, paper transaction from the previous owner - the EFL have done no due diligence on it at all. As one of those threads points out from Luke, it seems likely the “new owner” isn’t even a real person, so how could they have possibly done the test?

Heads really need to roll over this. It seems increasingly likely something, if not illegal, at the very least in the gray area of legality had gone on. Those who oversaw this process at the EFL need to be investigated by some kind of independent body to assess what has gone on
 

That Fat Centre Half

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Don’t think they have been made publicly available yet but Gary Sweets programme notes from Saturdays game were quite good and his ire is firmly on the EFL and the FA for letting the situation happen in the first place by approving the transaction.

He’s calling for independent regulation of football club ownership as the EFL is nothing more than a members club which has proven it cannot police itself.

Also takes a swipe at a club spending 168p for £1 brought in which I think may have actually been Reading but could be a few different clubs.
 

Luke Imp

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Reading are about 200p+, I think!
 

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