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Wigan financial woes - up for sale again? p40

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  • cafcfan said:
    stonemuse said:

    Wigan Athletic administrator Gerald Krasner has said the club have appealed against their 12-point deduction for going into administration.

    The Football League said the punishment would apply this season if Wigan avoided finishing in the bottom three.

    "The only grounds we have for this is 'force majeure'. My reading of it is, that applied to anything outside what we could have expected," said Krasner.

    "This situation was totally unexpected, so we believe this case applies."

    Force majeure events are usually defined as certain acts, events or circumstances beyond the control of the involved parties, such as natural disasters, war or a pandemic.

    Krasner confirmed 75 support staff were made redundant on Monday and that senior club executives have agreed to work for nothing until the situation is resolved.

    He also said all furloughed staff were being paid in full on Tuesday, with the first-team squad getting 20% of their salaries.


    So 2 thoughts here:

    1. Only being paid 20% of their wages has surely got to affect players morale and desire to win games.

    2. How can they claim force majeure when the owner took them over during the shut down and put them into admin when games had resumed?

    Krasner is misinterpreting Force Majeure ... it cannot apply in these circumstances in the way he has outlined. 

    In fact, I see no way in which Force Majeure can apply at all. This appeal will fail. 
    Almost certainly IMO.  But what will NOT fail is Krasner bumping up his fees on the stricken club for all the extra work he and his many expensive fully qualified insolvency practitioners will have done on the appeal.  Not to mention all the extra fees he will be paying away to lawyers to run said appeal.  (If I was a cynic, I'd mention snouts in troughs - ooh I just did.)
    Unfortunately that is very true ... and I believe you are right to be cynical. 

    Owing to my consultancy work in international trade, I have been involved in quite a number of attempted Force Majeure cases over the last three months, in which either a bank or a buyer have attempted to relieve themselves of their obligations due to coronavirus. 

    Ultimately, all have failed. Although some received temporary respite from domestic courts (in Asia), these were all overturned. 

    Football may be different, but the legal interpretation of a Force Majeure event does not change. 
  • I hear that Wigan are looking to sell some players today.
  • What would stop esi putting us into administration, or any owner doing the same to reduce the debt, buy back for £1 and sell for £1m? Appeal the points deduction based on force majure
    Nothing but the 12 deduction which is why it seems very unlikely that Wigan will win any appeal.

    Plus the club doesn't have that much debt and the wages are being paid even if we don't know by who?


    my point is that if one club escapes a point deduction due to force majure, there is nothing stopping the other 71 teams from going into administration to wipe off debt.


    And it just so happens that the most important EFL club's are the one's carrying the most debt. I think there.must be a lot of behind the scenes pressure on the EFL to set a precedent that will allow for a no punishment debt jubilee.
  • I hear that the "new owner" is a discharged bankrupt and trading of the "old owners" company's shares trading increased 10000% in the month before they "dumped" Wigan.  May not have been through his local bet365 but someone has made a killing out of this. 
  • when do you think we will all hear about Shef wed?


  • when do you think we will all hear about Shef wed?



    Next year knowing the EFL
  • Wigan confirmed they are appealing the points deduction.
    If nothing else that could delay the points deduction and see them start in the Championship on -12
  • CafcSCP said:
    Wigan confirmed they are appealing the points deduction.
    If nothing else that could delay the points deduction and see them start in the Championship on -12
    That will be a legal minefield 
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  • Cafc43v3r said:
    CafcSCP said:
    Wigan confirmed they are appealing the points deduction.
    If nothing else that could delay the points deduction and see them start in the Championship on -12
    That will be a legal minefield 
    And us relegated.
  • Cafc43v3r said:
    CafcSCP said:
    Wigan confirmed they are appealing the points deduction.
    If nothing else that could delay the points deduction and see them start in the Championship on -12
    That will be a legal minefield 
    And us relegated.
    We beat qpr and Hull, so there’s no reason why we can’t take out Reading and Birmingham.
    Bonne will come good. Not sure about Hemed yet.
  • So far Hemed has looked better than Bonne for me. But like you, I reckon he will come good.
  • CafcSCP said:
    Wigan confirmed they are appealing the points deduction.
    If nothing else that could delay the points deduction and see them start in the Championship on -12
    Then the EFL need to act swiftly. Come out before the end of the week saying that no appeal can be heard. Force Majure does not apply & the 12 point deduction stands. No fannying about. 

    Listening to the Administrator on Talksport it all seems fairly clear. The new owners agreed a business plan with the EFL going forward. They then had a board meeting on the 30th June saying that they were no longer going to fund the club & put it into administration. Seems pretty clear to me. There doesnt seem to be any funding issues with the banks or creditors. The guy on Tslksport said the reason the owners gave was insolvency. 
  • CafcSCP said:
    Wigan confirmed they are appealing the points deduction.
    If nothing else that could delay the points deduction and see them start in the Championship on -12
    No chance. Their legal case is pretty straight forward anyway, so would be decided either way pretty quickly
  • Should be a quick decision as to if they have any case at all.
  • "Players have received 20 per cent of their pay, with administrators hoping to find the remaining 80 per cent via player sales. To that end, the club have appointed an agent to attract buyers, but were at pains to point out that the agent would not be paid by Wigan.

    On the appeal, Krasner pointed out no club had ever successfully challenged the 12-point penalty for entering administration, which would be applied this season if the club stay in the Championship or to next season's table if they are relegated.

    He said the administrators were also working on a strategy to ensure the club would not be liable to a further 15-point deduction for failing to pay creditors 25p in the pound.

    Joint administrator Paul Stanley said the official supporters' club had raised £125,000 by Tuesday morning to cover the costs of travelling to away games and staging home games "even down to putting petrol in the lawnmowers to get the pitches mowed".

    The administrators said a local firm, Eavesway Travel, had agreed to cover the cost of getting the first team to their away fixture against Barnsley on Saturday."

  • "Players have received 20 per cent of their pay, with administrators hoping to find the remaining 80 per cent via player sales. To that end, the club have appointed an agent to attract buyers, but were at pains to point out that the agent would not be paid by Wigan.

    On the appeal, Krasner pointed out no club had ever successfully challenged the 12-point penalty for entering administration, which would be applied this season if the club stay in the Championship or to next season's table if they are relegated.

    He said the administrators were also working on a strategy to ensure the club would not be liable to a further 15-point deduction for failing to pay creditors 25p in the pound.

    Joint administrator Paul Stanley said the official supporters' club had raised £125,000 by Tuesday morning to cover the costs of travelling to away games and staging home games "even down to putting petrol in the lawnmowers to get the pitches mowed".

    The administrators said a local firm, Eavesway Travel, had agreed to cover the cost of getting the first team to their away fixture against Barnsley on Saturday."

    I cant even see Wigan players getting another point themselves if they've got this hanging over them

    I swear those three results of ours prior to lockdown was partly because of the antics going on between Nimer and Southall
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  • Absolutely tragic if you're a Wigan fan. Could happen to any club outside the top 6.
  • Just wondered what exactly the EFL fit and proper test actually was.

    Flash your eyelids, and hand over a suitcase full of reddies?
  • Just announced on talksport that efl confirm that no appeal will be successful
    Talk sport, that we’ll known legal firm
  • Just announced on talksport that efl confirm that no appeal will be successful
    Talk sport, that we’ll known legal firm
    Yeah on their say so I'd expect Wigan to get away with it now
  • Absolutely tragic if you're a Wigan fan. Could happen to any club outside the top 6.
    Could happen to us any day now
  • edited July 2020
    I am really confused what people think the EFL are and what resources they have avaliable to them. 

    How much time and money do bookmakers spend a year on detecting "unusual" betting patterns, the stock markets on preventing insider and rogue trading, the g7 on fraud investigation and prevention, who ever it is that disqualify directors?

    Take us as an example we have probably had ten people take the fit and proper test this season.  There is no legal reason why any of them would have failed it.  They all passed it. Are they all fit and proper?

    Before anyone says Southall a spent conviction for a minor crime is not a reason. Neither is being "a bit dodgy". 

    And before anyone chirps up with "Romanian money laundering" he was not found guilty in court. 

    The EFL say if something was done that would be a crime if committed in the UK you would fail.  Its a crime in Romania, he wasn't found guilty in court.

    To blame the EFL for all footballs ills is a sign of ignorance. 
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