Wigan Athletic: Administrators confident a deal to sell club can go ahead

https://www.bbc.co.uk/sport/football/53932948

I am sure I heard on SSN that a new buyer would have to pay £4m for the stadium and training ground, makes our ones look expensive

ForeverAddickted said:

ross1 said:

Wigan Athletic: Administrators confident a deal to sell club can go ahead

https://www.bbc.co.uk/sport/football/53932948

I am sure I heard on SSN that a new buyer would have to pay £5m for the stadium and training ground, makes our ones look expensive

Its why I think there should be an independent commission that oversees the sale of Football clubs here in the UK

Need something brought in so they cant be sold for £1 (letting chancers in) yet stopping others from holding them to ransom

There needs to be a fully-powered football regulator; a footy equivalent of, say, the Prudential Regulation Authority (PRA).

All sales of clubs and appointment of company directors and officials must be subject to regulator approval and only a limited time in which to rectify any deficiencies. This would, hopefully, prevent the situation we've found ourselves in this year with ESI 1's takeover floundering due to lack of clarity over funding, and ESI 2 fouling foul because Farnell and Elliotttttttttt were dodgy as fcuk.

There's nothing wrong, per se, with selling a club for £1; it could have a price tag of £10m but still have the same problems as us if the new regime is full of wrong 'uns! It should be a condition of sale that all business plans are scrutinised and signed off by the regulator.

For many years I had the "pleasure" of compiling year end insurance business returns for the PRA, consisting of an Income Statement, a Balance Sheet, Solvency details, and a full analysis of the premiums written and claims movements/reserves. After recent events (Sheff Wed/Derby, salary cap) I've been thinking that there should be a footballing equivalent of the PRA return, if there isn't anything already, to help identify financial breaches. This would ensure that all clubs were submitting data to the regulator in the same format and on the same basis instead of the authorities relying on financial statements which may have differing accounting treatments from club to club.

The penalties for breaking the rules should be set out clearly so that everyone - clubs, fans, and media - knows what should happen. The current process seems to be anything but consistent and transparent.

If there was an appetite for any of this within the game then I'm sure it would have been implemented by now but, as we know, the FL is just a members' club that organises its own competitions like the local golf club runs the Sunday Fourballs and the PL is essentially a cartel that begrudgingly allows a bit of movement in its membership. The last thing the owners/PL would vote for was someone to come in and oversee their operations.

There needs to be clear direction on the legal status of football clubs; they can't be treated the same as "normal" limited companies there has to be a separate distinction in Company Law which means that Government has to take the lead and introduce a new Football Companies Finance Act which would include the establishment of a regulatory body with a legal standing and full powers.

That's my two penn'orth ...

Just reading the incentives they are offering to people who donate either £250 £500 or £1,000, nice if younare a fan who can afford those amounts

https://www.crowdfunder.co.uk/save-wigan-athletic

They have done really well, 87% of £500,000 raised! Good luck WASC

Wish we could do a crowdfunder to get shot of ESI!

stoneroses19 said:

AddicksAddict said:

Eynsfordaddick said:

They have done really well, 87% of £500,000 raised! Good luck WASC

I'm not knocking those who contributed or the laudable aims of those who organised this, but isn't £500,000 just a drop in the ocean for getting Wigan out of admin?

I believe this is to ensure fans will have a seat at the table moving forward. 

Make mine a high chair.

Isnt the deadline tomorrow

Brilliant. Good luck to the WASC

Wigan administrator wants £3M for the DW Stadium. While it's obviously not in Kensington, a bit of perspective on Roland's price.

sam3110 said:

Ferryman said:

Wigan administrator wants £3M for the DW Stadium. While it's obviously not in Kensington, a bit of perspective on Roland's price.

Interesting, average price of a flat in nearby roads seems to be about 100-110k.

Roads around the Valley appear to be 3x that on average, but new builds always put a premium on, especially ones in London by a commuter route, so expect a decent flat built on The Valley to set you back 450-500k. That would put Wigan's £3m estimate (selling cheaper than market value to ensure a deal) as quite low, and RD's probable 20m as slightly too high, I'd say Wigan for £5m and The Valley for £15m is more on the money

Blimey I thought I was on the Wimbledon thread and thought where you getting a flat in Wimbledon for £110000.

Athletico Charlton said:

sam3110 said:

Ferryman said:

Wigan administrator wants £3M for the DW Stadium. While it's obviously not in Kensington, a bit of perspective on Roland's price.

Interesting, average price of a flat in nearby roads seems to be about 100-110k.

Roads around the Valley appear to be 3x that on average, but new builds always put a premium on, especially ones in London by a commuter route, so expect a decent flat built on The Valley to set you back 450-500k. That would put Wigan's £3m estimate (selling cheaper than market value to ensure a deal) as quite low, and RD's probable 20m as slightly too high, I'd say Wigan for £5m and The Valley for £15m is more on the money

Way too simplistic I am afraid.

What is the footprint of both stadiums?

What would be the density of build you could put on both sites?

Most importantly, costs to build have a floor so if you are developing low valie homes then the cost of actually building them will be a higher % of their value and hence the land will be commensurably less valuable as developers will all wish to get 20% + profit margins.

You are also forgetting the one big issue......its a firesale. The administrator is looking to get what he can get now. Quickly. Stadium is probably worth 3 times that. 

ross1 said:

Preston have finalised their buy of Wigan training ground.

Didn't they buy it off of Bolton when they were in administration?