Attention: Please take a moment to consider our terms and conditions before posting.
Wigan financial woes - up for sale again? p40
Comments
-
I would have thought the opposite. The Administrators are just looking to get the best price they can so that they can pay the creditors. Who they are & what happens afterwards is not their problem. I may be wrong & the EFL (or Admin rules) may say otherwise, but usually when Administrators are involved they are just looking to get creditors paid.Cafc43v3r said:
Aren't the administrators legally obliged to not sell it, if it was on the basis of EFL approval? Unlike Roland, or indeed ESI who legally could sell it to any one regardless of the EFL?killerandflash said:
https://www.bbc.co.uk/sport/football/55195930EricBanterna said:
We both know, you don't need EFL approval, they cannot stop someone taking over a football club, but can make it very difficult for them to if they don't satisfy their criteria.killerandflash said:
The takeover, which remains dependent on English Football League approval, is hoped to be completed by 31 March.EricBanterna said:For the sake of the Wigan Fans, I truly hope the EFL have done the right thing here and done their homework.
The Spanish buyers were blocked by the EFL though
The administrators have a legal obligation to the creditors, Roland only, legally, had an obligation to himself.0 -
But the only asset is the golden ticket. They don't own the ground, all the player contracts would be breached if they were expelled. Effectively all you are buying is the place in the league.golfaddick said:
I would have thought the opposite. The Administrators are just looking to get the best price they can so that they can pay the creditors. Who they are & what happens afterwards is not their problem. I may be wrong & the EFL (or Admin rules) may say otherwise, but usually when Administrators are involved they are just looking to get creditors paid.Cafc43v3r said:
Aren't the administrators legally obliged to not sell it, if it was on the basis of EFL approval? Unlike Roland, or indeed ESI who legally could sell it to any one regardless of the EFL?killerandflash said:
https://www.bbc.co.uk/sport/football/55195930EricBanterna said:
We both know, you don't need EFL approval, they cannot stop someone taking over a football club, but can make it very difficult for them to if they don't satisfy their criteria.killerandflash said:
The takeover, which remains dependent on English Football League approval, is hoped to be completed by 31 March.EricBanterna said:For the sake of the Wigan Fans, I truly hope the EFL have done the right thing here and done their homework.
The Spanish buyers were blocked by the EFL though
The administrators have a legal obligation to the creditors, Roland only, legally, had an obligation to himself.
Are you suggesting someone would pay the creditors then knowling get expelled?1 -
I really hope this isnt another problematic group from the Middle East
5 -
6 points that can't now be deducted
1 -
Any fake bookcases or doors in that room....😄3
-
I know personally Dr Tom...... the guy who has been involved in footie simulation games.
He's um, well.
I'll reserve judgement. He talks a good game but um, well.
We did a project together where I delivered on my side of the bargain. He..... didn't.....0 -
0
-
Congrats, Wigan.
Hope you win your 1st game under the new owner tomorrow night versus the Gills.
Good luck !1 -
Phoenix 2021 sounds a similar sort of "inspirational" company name to East Street Investments...10
- Sponsored links:
-
A worry about wealth?.1
-
A rising phoenix from the flames or a little bit Jerry the Berry and Phoenix Nights. Only time will tell.1
-
Fingers crossed that Wigan fans are not burned again.1
-
https://find-and-update.company-information.service.gov.uk/company/13161421
Reg address shared with one Michael Blood....hmmm.0 -
I can't remember who's solicitor that was/is.Weegie Addick said:https://find-and-update.company-information.service.gov.uk/company/13161421
Reg address shared with one Michael Blood....hmmm.0 -
East Street Investments.0
-
I thought so, but wasn't certain.0
-
Have a horrible feeling about this for Wigan. Fingers crossed it’s all okay for them.3
-
I’m sure it’s all ablood board.0
-
And there is no "Al-Jasmi" listed on Phoenix 2021 Co House though he is supposedly the owner.0
- Sponsored links:
-
The new owner makes reference to Brabners LLP, a fairly reputable firm who also share that address. Michael Blood also worked at Brabners before moving to JMW.Weegie Addick said:https://find-and-update.company-information.service.gov.uk/company/13161421
Reg address shared with one Michael Blood....hmmm.Michael Blood, Brabners and JMW aren’t dodgy. I get the “hmmm” initial thought but I don’t think the link to Brabners is anything more than a coincidence, and Bloods involvement with ESI was nothing more than representing them. Same as the lawyer representing Paul Elliott, doesn’t mean they’re involved in a negative way.4 -
Exactly what I was going to post hmm .....Good luck Wigankillerandflash said:Phoenix 2021 sounds a similar sort of "inspirational" company name to East Street Investments...0 -
@TelMc32 & I know one of the directors for many years, he has spent all his working life in football. I just can't see him getting involved in something that wasn't right.9
-
I hope this works out for them, surely the EFL wouldn’t allow another bunch of crooks to take over a football club?!?!?!?! 👀👀3
-
The reports I've read all say "...EFL approved..." and that the new owners have formally been granted the identity of the football club but I've not read anywhere that the new set up has proven 'source and sustainability of funds' or whatever the wording is. We'd like to think EFL wouldn't drop the ball again with Wigan but their record with us, Bury, Bolton, etc, etc is dreadful. Wigan's mess needed to be off EFL's 'to do list' before next season's fixtures are scheduled, cos Wigan wouldn't be allowed to commence a 2nd season in administration. EFL much more likely to kick this can down the road a bit than actually do a proper diligent job at any stage. If the wheels come off, again, EFL will refute responsibility, again.
Anybody seen an EFL or new owner quote that ALL the paperwork & funding is in place and validated?
Good luck Latics1 -
The difference is that the EFL have produced a statement that is a bit similar to when Sandgaard took overBilly_Mix said:The reports I've read all say "...EFL approved..." and that the new owners have formally been granted the identity of the football club but I've not read anywhere that the new set up has proven 'source and sustainability of funds' or whatever the wording is. We'd like to think EFL wouldn't drop the ball again with Wigan but their record with us, Bury, Bolton, etc, etc is dreadful. Wigan's mess needed to be off EFL's 'to do list' before next season's fixtures are scheduled, cos Wigan wouldn't be allowed to commence a 2nd season in administration. EFL much more likely to kick this can down the road a bit than actually do a proper diligent job at any stage. If the wheels come off, again, EFL will refute responsibility, again.
Anybody seen an EFL or new owner quote that ALL the paperwork & funding is in place and validated?
Good luck Latics
https://www.efl.com/news/2021/march/efl-statement-wigan-athletic/
When ESI took over they kept very quiet as ESI naturally hadnt completed all their requirements
1 -
Fair enough0
-
Been in touch with him last night & this morning. They’re really looking forward to getting started now, but realise it’s a huge 9 games now to try and stay in the division. He’s hoping we get to see them at least twice next season 😏guinnessaddick said:@TelMc32 & I know one of the directors for many years, he has spent all his working life in football. I just can't see him getting involved in something that wasn't right.1 -
He has good creds working on Football Manager and Kaiser (one of my favourite football books/films), but his bio seems to try and position him as a ‘football finance expert’ like Kieran McGuire from the Price of Football (who I think may have taught him given the Liverpool uni link). Still, he’s only a NED so more comparable to Rifkind, and they’re not bringing in an external FD like Southall did which would be a true alarm bell. Overall, they seem more credible than ESI (though not a hard bar to meet)supaclive said:I know personally Dr Tom...... the guy who has been involved in footie simulation games.
He's um, well.
I'll reserve judgement. He talks a good game but um, well.
We did a project together where I delivered on my side of the bargain. He..... didn't.....
https://wiganathletic.com/news/2021/march/Biographies-New-Wigan-Athletic-Directors/
1 -
0
