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Wigan In Administration (Merged)


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On 04/07/2020 at 13:47, Ska Junkie said:

The way I read that. the bet isn't the full motive, maybe.

Buy Wigan, share price shoots up, sell a load of shares at the higher rate, pocket the wedge, lose interest in the club, place it in administration. By putting the club in admin, extra wedge is possible from an alleged bet.

Extremely dodgy! I feel very sorry for the fans of Wigan Athletic. 

Don't thing they are listed, very few football teams are these days, they are worth what someone is stupid enough to buy the debts for!

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11 minutes ago, Bristol Rob said:

Don't thing they are listed, very few football teams are these days, they are worth what someone is stupid enough to buy the debts for!

It was his company that were listed and saw a spike in share price as I read it BR, rather than Wigan Athletic. 

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28 minutes ago, WSMRobin said:

Isn't there meant to be some fit and proper checks before allowing someone to control a professional football club? Surely with proper checks concerns would've been raised to prevent this situation? 

 

It’s something like:  

EFL:  “Have you ever been committed of a crime, apart from parking and speeding tickets ?”

Dodgy Owner with a past shadier than a ring of willow trees: “No, not me”

EFL:  “That’s fine, you’ve passed with flying colours”

 

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1 hour ago, Davefevs said:

Dig out and screenshot Harry’s post.

 

376BA340-7B0C-470C-ADE4-7B1422CB674C.png

Cheers Dave. Took me ages writing that up and it got lost on a multi-page thread that’s probably on page 5 now since LJ went 😂😂

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6 minutes ago, Harry said:

Cheers Dave. Took me ages writing that up and it got lost on a multi-page thread that’s probably on page 5 now since LJ went 😂😂

Saved for when he gets appointed and he turns out crap!!! 🤣

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1 hour ago, Davefevs said:

Dig out and screenshot Harry’s post.

 

376BA340-7B0C-470C-ADE4-7B1422CB674C.png

He’s exactly who we should be after, sounds perfect. 
But.... sadly you’ve just written him out of the running.... we won’t be appointing  a manager who can spot a player.... that would be an old fashioned, non-trendy model. We’ve got MA and a recruitment team to do that. 
It also suggests there’s no way his face could ever fit in the current regime. 

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Now a load of their recruitment staff have been laid off, ******* disgrace what’s going on up there, EFL should have to cover wages for those laid off as a result of their **** up as far as I’m concerned 

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32 minutes ago, hodge said:

Now a load of their recruitment staff have been laid off, ******* disgrace what’s going on up there, EFL should have to cover wages for those laid off as a result of their **** up as far as I’m concerned 

I think if the EFL had any inkling that the new buyer was going to spend circa 41m on buying the club, undertaking the 28mil debt etc and then immediately pull the plug, they would have blocked the sale and called in the men* with white coats.

It makes no logical sense.

*Other genders, including fluid may be summoned.

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4 minutes ago, Bristol Rob said:

I think if the EFL had any inkling that the new buyer was going to spend circa 41m on buying the club, undertaking the 28mil debt etc and then immediately pull the plug, they would have blocked the sale and called in the men* with white coats.

It makes no logical sense.

*Other genders, including fluid may be summoned.

Their fit and proper persons test isn't comprehensive enough its basically 'have you committed a crime? Do you have the finances to take over? Has a business gone under that you owned?' They also don't require owners to place a bond (or something similar) as a way to make sure finances and staff etc are secure. If prospective owners had to place a years costs aside upon takeover jobs and the club could be protected against situations like this.

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4 minutes ago, hodge said:

Their fit and proper persons test isn't comprehensive enough its basically 'have you committed a crime? Do you have the finances to take over? Has a business gone under that you owned?' They also don't require owners to place a bond (or something similar) as a way to make sure finances and staff etc are secure. If prospective owners had to place a years costs aside upon takeover jobs and the club could be protected against situations like this.

I agree the test appears sketchy at best, but I wonder if the alternative in many instances is that the club in question goes to the wall, so the EFL gambles that the person actually will be fit and proper ?

I can't imagine them queuing around the block to buy Wigan, but a bond would be a good way to test the true intent of some potential owners.

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5 minutes ago, hodge said:

Their fit and proper persons test isn't comprehensive enough its basically 'have you committed a crime? Do you have the finances to take over? Has a business gone under that you owned?' They also don't require owners to place a bond (or something similar) as a way to make sure finances and staff etc are secure. If prospective owners had to place a years costs aside upon takeover jobs and the club could be protected against situations like this.

I Really think some option along those lines has to come in.

If you want to cover losses then you have to ringfence the money with the “EFL” who will deposit it at a nominal rate of interest.  If you don’t like it, don’t make losses, or don’t invest in football clubs.

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6 minutes ago, hodge said:

Their fit and proper persons test isn't comprehensive enough its basically 'have you committed a crime? Do you have the finances to take over? Has a business gone under that you owned?' They also don't require owners to place a bond (or something similar) as a way to make sure finances and staff etc are secure. If prospective owners had to place a years costs aside upon takeover jobs and the club could be protected against situations like this.

Lodging money with the EFL would be a good thing, I agree.

But that then makes clubs in financial distress all the more difficult to sell, not all owners would be able to raise that sort of money. But i agree that something needs to be done.

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1 minute ago, Natchfever said:

I agree the test appears sketchy at best, but I wonder if the alternative in many instances is that the club in question goes to the wall, so the EFL gambles that the person actually will be fit and proper ?

I can't imagine them queuing around the block to buy Wigan, but a bond would be a good way to test the true intent of some potential owners.

Atm there are apparently 10 interested parties for Wigan so luckily they don't appear to be dead and buried as a club

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A point of view.

For years , FIFA took the piss and they thought they were untouchable.
They didn't figure on the yanks coming along and derailing the gravy train.

Football needs to look at what the yanks did and replicate it when shit like this happens.

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I've said it before (most recently during the Bury fiasco) and I'll say it again it's about time the Government instructed the National Audit Office to undertake an in-depth analysis of football finances, with particular reference to those fit and proper to run clubs. A report with mandated recommendations should be enacted by the departments responsible for media, culture and sport and local communities and regional government. Today's football clubs are not just commercial sport enterprises but are a vital local community amenity. We may not be able to do anything about the endemic corruption inherent in FIFA, UEFA and the other football confederations, which handle more brown envelopes than the Post Office, but we could and should be doing something about football in the UK. 

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Wigan are the sort of team the EFL should have some leniency with, as they're attempting to abide by FFP and have been fudged by the EFL's own fit and proper test. Postpone it at the very least to the following season until it's resolved in lieu of COVID.

Villa, Derby, Reading, and the other gambling scum however...

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They're a small club that have punched above their weight for a while now and the lower leagues is where they belong. But, what's happened to them is a travesty and they absolutely deserve to stay up. I actually hope the FA shows leniency and doesn't penalise them for something that's not been their own making.

Edited by tin
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