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Wigan financial woes - up for sale again? p40
Comments
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https://london-post.co.uk/wigan-athletic-takeover-in-chaos-as-former-charlton-athletic-director-looks-to-gain-control/
Another reference to Farnell being involved at Wigan0 -
Why do these stories linking Farnell etc only appear on these random websites? Don’t really understand what’s going on.MattF said:https://london-post.co.uk/wigan-athletic-takeover-in-chaos-as-former-charlton-athletic-director-looks-to-gain-control/
Another reference to Farnell being involved at Wigan6 -
I just can't see how this can be true. The EFL wouldn't allow him to be anywhere near the club0
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Could it be that CF is using his PR buddies to keep up appearances?se9addick said:
Why do these stories linking Farnell etc only appear on these random websites? Don’t really understand what’s going on.MattF said:https://london-post.co.uk/wigan-athletic-takeover-in-chaos-as-former-charlton-athletic-director-looks-to-gain-control/
Another reference to Farnell being involved at Wigan
So when he gets a stooge like PE to "buy" a football club, he then gets someone to buy a few old Twitter accounts to make it seem like "Paul's mates" know how great PE is and how wealthy he is. And then when he has nowhere else to turn and the people who lent him money are getting nervous he tells them: "nah mate, it's fine we're investing in another football club - look, it's in the paper."
I've worked for this kind of grifter, it's all about appearances while he stumbles from one silver bullet idea to the next. Meanwhile he's driving a car he doesn't own, using a PR company that is being paid by IPS and invoicing every text message to CAFC. And it's not even that he thinks it's right, he just needs to avoid paying for today's expenses for as long as possible; in this regard I believe Southall and him to be well matched.
*The above is entirely conjecture.2 -
In fact, both of the sources (Time Bulletin and London Post) above appear to have lots of self-promotion type stories.SpicedAddick said:
Could it be that CF is using his PR buddies to keep up appearances?se9addick said:
Why do these stories linking Farnell etc only appear on these random websites? Don’t really understand what’s going on.MattF said:https://london-post.co.uk/wigan-athletic-takeover-in-chaos-as-former-charlton-athletic-director-looks-to-gain-control/
Another reference to Farnell being involved at Wigan
So when he gets a stooge like PE to "buy" a football club, he then gets someone to buy a few old Twitter accounts to make it seem like "Paul's mates" know how great PE is and how wealthy he is. And then when he has nowhere else to turn and the people who lent him money are getting nervous he tells them: "nah mate, it's fine we're investing in another football club - look, it's in the paper."
I've worked for this kind of grifter, it's all about appearances while he stumbles from one silver bullet idea to the next. Meanwhile he's driving a car he doesn't own, using a PR company that is being paid by IPS and invoicing every text message to CAFC. And it's not even that he thinks it's right, he just needs to avoid paying for today's expenses for as long as possible; in this regard I believe Southall and him to be well matched.
*The above is entirely conjecture.
You can clearly pay to get a story of your choosing published.
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Although nothing would surprise me in regard to Farnell I cannot believe this is true. Who in their right mind in the EFL would even bother reading the application ? Surely he has exhausted any sense of credibility he may have had0
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If the judge who was in charge of Paul Elliott's injunction appeal was there, I'm sure he would give Farnell the benefit of the doubt. Plus, as was said multiple times, the EGL cannot block a takeover they can only deny membership of the league.0
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LOL. They can't stop him applying though, can they?golfaddick said:
As I said the other day, the EFL have been warned. If they even let him apply for the OADT then they are not fit for purpose. I think the dossier on him should be passed to Wigan fans & the EFL.charltonbob said:
Thanks for posting. Lets hope it's bullshit for Wigans sake.BalladMan said:Cached version of the article that is now offline is anyone wants to read it: https://webcache.googleusercontent.com/search?q=cache:1SMqwf24pHkJ:https://www.timebulletin.com/nightmare-wigan-athletic-takeover/+&cd=1&hl=en&ct=clnk&gl=uk
It's a bit like a mortgage broker. YOur client may have no chance of getting a mortgage and you might tell them not to bother, but a lender can't exactly stop them applying.2 -
5 weeks after the takeover offer was accepted, still no news from the EFL
The team meanwhile are now at the bottom of L1. Unless they get the takeover approved and can bring in reinforcements, they're in danger of consecutive relegations0 -
Don't worry........we were told on here that administration was something not to fear & we should have gone for it as it would have got the parasites off our backs. 🤔killerandflash said:5 weeks after the takeover offer was accepted, still no news from the EFL
The team meanwhile are now at the bottom of L1. Unless they get the takeover approved and can bring in reinforcements, they're in danger of consecutive relegations8 -
Sponsored links:
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My recollection is that this is par for the course: buy a nice slab of advertising space in a media outlet and a nice "free" article about your company gets a placement as well.SpicedAddick said:
In fact, both of the sources (Time Bulletin and London Post) above appear to have lots of self-promotion type stories.SpicedAddick said:
Could it be that CF is using his PR buddies to keep up appearances?se9addick said:
Why do these stories linking Farnell etc only appear on these random websites? Don’t really understand what’s going on.MattF said:https://london-post.co.uk/wigan-athletic-takeover-in-chaos-as-former-charlton-athletic-director-looks-to-gain-control/
Another reference to Farnell being involved at Wigan
So when he gets a stooge like PE to "buy" a football club, he then gets someone to buy a few old Twitter accounts to make it seem like "Paul's mates" know how great PE is and how wealthy he is. And then when he has nowhere else to turn and the people who lent him money are getting nervous he tells them: "nah mate, it's fine we're investing in another football club - look, it's in the paper."
I've worked for this kind of grifter, it's all about appearances while he stumbles from one silver bullet idea to the next. Meanwhile he's driving a car he doesn't own, using a PR company that is being paid by IPS and invoicing every text message to CAFC. And it's not even that he thinks it's right, he just needs to avoid paying for today's expenses for as long as possible; in this regard I believe Southall and him to be well matched.
*The above is entirely conjecture.
You can clearly pay to get a story of your choosing published.1 -
Sounds like there's been some stumbling blocks along the way
https://www.wigantoday.net/sport/football/wigan-athletic-supporters-club-unable-support-spanish-time-3024147
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All options were bleak at the time. Unless you predicted that a Danish-American multi-millionaire had an interest in Charlton?golfaddick said:
Don't worry........we were told on here that administration was something not to fear & we should have gone for it as it would have got the parasites off our backs. 🤔killerandflash said:5 weeks after the takeover offer was accepted, still no news from the EFL
The team meanwhile are now at the bottom of L1. Unless they get the takeover approved and can bring in reinforcements, they're in danger of consecutive relegations0 -
No, I just know that Administration was not the way out.sinking feesh said:
All options were bleak at the time. Unless you predicted that a Danish-American multi-millionaire had an interest in Charlton?golfaddick said:
Don't worry........we were told on here that administration was something not to fear & we should have gone for it as it would have got the parasites off our backs. 🤔killerandflash said:5 weeks after the takeover offer was accepted, still no news from the EFL
The team meanwhile are now at the bottom of L1. Unless they get the takeover approved and can bring in reinforcements, they're in danger of consecutive relegations
Administrators work to get enough money to pay off creditors. They don't care about what is left or if the values they get are justified. If Doughty could have be sold for £400k they would have taken it & they certainly wouldn't have held out for £2m for Bonne - more likely they would have been happy with what we paid for him.1 -
I was always very wary of administration too. Just because TS and Barclay/Varney were waiting in the wings, there was no guarantee they'd get to buy the club either, we could easily have ended up with another set of dodgy ownersgolfaddick said:
No, I just know that Administration was not the way out.sinking feesh said:
All options were bleak at the time. Unless you predicted that a Danish-American multi-millionaire had an interest in Charlton?golfaddick said:
Don't worry........we were told on here that administration was something not to fear & we should have gone for it as it would have got the parasites off our backs. 🤔killerandflash said:5 weeks after the takeover offer was accepted, still no news from the EFL
The team meanwhile are now at the bottom of L1. Unless they get the takeover approved and can bring in reinforcements, they're in danger of consecutive relegations
Administrators work to get enough money to pay off creditors. They don't care about what is left or if the values they get are justified. If Doughty could have be sold for £400k they would have taken it & they certainly wouldn't have held out for £2m for Bonne - more likely they would have been happy with what we paid for him.
In the meantime, the administrators would have cut costs, especially in non playing staff. And not necessarily the "right" people either0 -
Good news that they've sold the chippy0
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Still waiting to hear from the EFL. No surprise there then.....clive said:0 -
Henry Irving said:Good news that they've sold the chippy
When asked whether it would benefit the club, Krasner added: “None of the money will come to us.
“All of the money coming in goes to the respective companies, in which the assets are held.
“They’ll go to the appropriate property company, in the same way as the player sales went to the football club.
“You can’t give money from one company to another company, where there’s creditors of that other company.”
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They did release this statement, if u can call it that lolgolfaddick said:
Still waiting to hear from the EFL. No surprise there then.....clive said:
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https://www.bbc.co.uk/sport/football/55019170
The Spanish consortium have for the second time been given more time to complete their takeover. But still no approval from the EFL0 -
So when the EFL nod through a take over and its "bad" its the EFL's fault, when they don't nod through a take over incase its "bad" its the EFL's fault?1
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Proof of funds mentioned as being provided, but source of those funds could well be problematic. Let's hope the Wigan fans get the right outcome.
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So, once again, a club believes that the potential new owners have satisfied money regs but the EFL are still stalling.
Why do I think that the EFL aren't satisfied with copies of bank statements or "letters of good faith" any more.0 -
This saga is really dragging on.
The fees of the administrators and the lawyers (including for the unsuccessful EFL appeal) are eye-watering. On 7 September, Kieran Maguire tweeted that:
"If administrators sell Wigan total legal costs will be in the region of £1,375,000 plus £1,337,467 for the administrators themselves and up to £250,000 for agents."
Fees will have continued to accrue over the last two and a half months and, in total, probably now exceed the asking price for the club, which I believe is £3-4million. I don't doubt that a lot of work has been done but it is a very dispiriting state of affairs, with the best players and promising youngsters all sold on the cheap and the team rooted in the relegation zone. They are now at real risk of ending up in League 2 next season - a level below they were when Dave Whelan took over 25 years ago. Heartbreaking for him and their loyal supporters, who have, in these very difficult times, raised over £800K to try and keep the club going.
None of us need reminding how fortunate we are that Thomas Sandgaard came along to rescue us from the vultures.17 -
A cracking away trip.Blucher said:This saga is really dragging on.
The fees of the administrators and the lawyers (including for the unsuccessful EFL appeal) are eye-watering. On 7 September, Kieran Maguire tweeted that:
"If administrators sell Wigan total legal costs will be in the region of £1,375,000 plus £1,337,467 for the administrators themselves and up to £250,000 for agents."
Fees will have continued to accrue over the last two and a half months and, in total, probably now exceed the asking price for the club, which I believe is £3-4million. I don't doubt that a lot of work has been done but it is a very dispiriting state of affairs, with the best players and promising youngsters all sold on the cheap and the team rooted in the relegation zone. They are now at real risk of ending up in League 2 next season - a level below they were when Dave Whelan took over 25 years ago. Heartbreaking for him and their loyal supporters, who have, in these very difficult times, raised over £800K to try and keep the club going.
None of us need reminding how fortunate we are that Thomas Sandgaard came along to rescue us from the vultures.2 -
Never been but would love to get up to Wigan, probably with an overnight in Liverpool. Hopefully the club will come through this.1
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While Admin in the summer MIGHT have wiped the slate clean and allowed a Barclay/Varney takeover it also MIGHT have led us to a similar fate as Wigan and Bolton. It's not the panacea some think, especially now the rules have changed.
Sandgaard also looked closely at Wigan. Thank you whoever advised him we were a better bet.25 -
I think that £3m-£4m asking price has been significantly lowered.
Seen a tweet that the administrator expects the final sale proceeds for the Club to be lower than what they sold the Sharpys chippy next to the DW.
Crying shame.0 -
It was Mumford who "nudged" Thomas away from Wigan:
https://www.castrust.org/2020/11/exclusive-mumford-interview-when-i-walked-into-charlton-i-felt-at-home/
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