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Wigan financial woes - up for sale again? p40
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Beware Middle Eastern owners bearing gifts.2
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Easier to find a buyer in the championship thoughForeverAddickted said:Beware Middle Eastern owners bearing gifts.
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And when you own the groundCafc43v3r said:
Easier to find a buyer in the championship thoughForeverAddickted said:Beware Middle Eastern owners bearing gifts.3 -
What division are they in ?AndyG said:Be careful what u wish for lesson here folks1 -
By doing EXACTLY what caused them administration last time - spending money they don’t have.golfaddick said:
What division are they in ?AndyG said:Be careful what u wish for lesson here folks
Without the overspending last season they wouldn’t have got promoted….. this is a piss take.14 -
Agree. Quite curious to hear what the Price of Football podcast has to say about it on Thursday.Swisdom said:
By doing EXACTLY what caused them administration last time - spending money they don’t have.golfaddick said:
What division are they in ?AndyG said:Be careful what u wish for lesson here folks
Without the overspending last season they wouldn’t have got promoted….. this is a piss take.0 -
Another reason to be thankful for Thomas6
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According to Sky Sports News tonight, the manager has just signed a new 3 year contract. Seems at odds with the other stories.0
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Didn’t Bowyer signed some flakey 5 year deal under ESI , who were also gonna pay ratbag £50m for the stadiumTelMc32 said:According to Sky Sports News tonight, the manager has just signed a new 3 year contract. Seems at odds with the other stories.5 - Sponsored links:
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Football (as we all know) is absolutely fucked. This is happening way too often.7
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Ridiculous... should be harsher penalties if you go into administration twice this quickly. Literally spent their way out of the league last year8
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I wonder if their fans would welcome going into administration again as it's proved such a successful business model for them. After all, it only took nine months to find a buyer last time, and if they don't get relegated this season due to points deductions and transfer embargoes, then they could be Premier League bound next season if they get lucky again with their next owner.
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Can we Raid them for players in January?3
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Palace are a perfect example of how admin can benefit a club.swordfish said:I wonder if their fans would welcome going into administration again as it's proved such a successful business model for them. Ater all, it only took nine months to find a buyer last time, and if they don't get relegated this season due to points deductions and transfer embargoes, then they could be Premier League bound next season if they get lucky again with their next owner.4 -
They're already struggling so i think if they go into admin this season they will 100% be relegated. Especially if some of the players getting paid late look to leave in January, or bigger clubs cherry pick some of their better players for a pittance.swordfish said:I wonder if their fans would welcome going into administration again as it's proved such a successful business model for them. Ater all, it only took nine months to find a buyer last time, and if they don't get relegated this season due to points deductions and transfer embargoes, then they could be Premier League bound next season if they get lucky again with their next irresponsible owner.0 -
They were there last time, but it took nine months to find a buyer and going into administration resulted in them being relegated anyway. A successful outcome in the end though, or is it???Cafc43v3r said:
Easier to find a buyer in the championship thoughForeverAddickted said:Beware Middle Eastern owners bearing gifts.
Perhaps they're just a small Club with unrealistic expectations that are proving to be unsustainable and that's what a prospective new owner might see if they do due diligence. In fact, isn't that what TS saw and decided we had better potential.
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But they are STILL in that higher division. Unless administration meant automatic relegation then clubs will keep pushing the boundaries. Look at Derby. Took a few years before it finally caught up with them & they only got a points deduction for dodgy accounting, not for going into administration. QPR did it a few years ago too & they got into the Premier league. And when the EFL did finally "take action" it was once they had been relegated (because they couldn't touch them in the PL) and had the PL money to help pay any "fines". Probably no coincidence they are top 6 now as they probably have the better players that they signed post PL times.Swisdom said:
By doing EXACTLY what caused them administration last time - spending money they don’t have.golfaddick said:
What division are they in ?AndyG said:Be careful what u wish for lesson here folks
Without the overspending last season they wouldn’t have got promoted….. this is a piss take.
Crime pays in football.14 -
And Southampton.J BLOCK said:
Palace are a perfect example of how admin can benefit a club.swordfish said:I wonder if their fans would welcome going into administration again as it's proved such a successful business model for them. Ater all, it only took nine months to find a buyer last time, and if they don't get relegated this season due to points deductions and transfer embargoes, then they could be Premier League bound next season if they get lucky again with their next owner.2 - Sponsored links:
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And Leicestergolfaddick said:
And Southampton.J BLOCK said:
Palace are a perfect example of how admin can benefit a club.swordfish said:I wonder if their fans would welcome going into administration again as it's proved such a successful business model for them. Ater all, it only took nine months to find a buyer last time, and if they don't get relegated this season due to points deductions and transfer embargoes, then they could be Premier League bound next season if they get lucky again with their next owner.5 -
It can also be disclosed that third parties have been approached and asked to find potential buyers for a club that came close to liquidation only two years ago.
A figure of around £15m has been quoted, according to those with knowledge of the situation, which is understood to be close to five times what the current owners paid to bring Wigan out of administration in 2021.
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Derby were hit with a 12 point deduction for entering administration in Sept 2021 and we're relegated because of it.golfaddick said:
But they are STILL in that higher division. Unless administration meant automatic relegation then clubs will keep pushing the boundaries. Look at Derby. Took a few years before it finally caught up with them & they only got a points deduction for dodgy accounting, not for going into administration. QPR did it a few years ago too & they got into the Premier league. And when the EFL did finally "take action" it was once they had been relegated (because they couldn't touch them in the PL) and had the PL money to help pay any "fines". Probably no coincidence they are top 6 now as they probably have the better players that they signed post PL times.Swisdom said:
By doing EXACTLY what caused them administration last time - spending money they don’t have.golfaddick said:
What division are they in ?AndyG said:Be careful what u wish for lesson here folks
Without the overspending last season they wouldn’t have got promoted….. this is a piss take.
Crime pays in football.
Edit - you mean Sheff Wed I think for the dodgy accounting.0 -
Doesn't exactly benefit the people they owe money to though. If I was to trade with a football club, it would be on cash up front terms only as they represent such a bad financial risk.Cafc43v3r said:
And Leicestergolfaddick said:
And Southampton.J BLOCK said:
Palace are a perfect example of how admin can benefit a club.swordfish said:I wonder if their fans would welcome going into administration again as it's proved such a successful business model for them. Ater all, it only took nine months to find a buyer last time, and if they don't get relegated this season due to points deductions and transfer embargoes, then they could be Premier League bound next season if they get lucky again with their next owner.1 -
https://uk.linkedin.com/in/tommarkham
One film I did with him. Completely no idea, despite it not being his first rodeo.
Qualified in football economics from a business school. Apparently an expert.
Wigan. 18 months.
Even 'experts' haven't a clue.
God help us.0 -
WIGAN ATHLETIC CHIEF EXECUTIVE, MALACHY BRANNIGAN, PROVIDES THE FOLLOWING UPDATE TO SUPPORTERSClub is not for saleBanking system the cause of delays to employee wages last weekendLeam Richardson signs new three-year contractWigan Athletic Chief Executive, Malachy Brannigan, responds to varying news articles over the last couple of days…The primary message that I want to convey is to assure the Club’s staff, its supporters and its business partners that, despite the recent media opinion, the current and future financial health of Wigan Athletic is strong and very secure, and I can confirm that the Club is not up for sale.Speculation over clubs being for sale is always rife, and while some potential purchasers have approached the Ownership group on a number of occasions since its acquisition of Wigan Athletic in March 2021, no approaches have ever been entertained.It is only natural that the Club would attract interest given the positive journey it has been on in the last 19 months, but we remain committed in returning the Club to where we believe it belongs in the football pyramid.Football is a business that is very much in the public eye and at times, brings a level of scrutiny not experienced by many other industries.Where appropriate, I am extremely mindful of our duty to inform and notify as many of our stakeholders of Club matters in a timely manner, but there are times where such scrutiny impacts on those who work within the Club on a personal level; discussing pay and payroll is one such topic.I can assure you that funding has never been the reason for any previous delay, and this is still the position in this situation.We are aware of what needs to be done to make sure a late payment situation doesn’t happen again under our tenure, especially as they have recently been as a consequence of a banking process that took much longer than it should have done, once the funds were in the system.The commitment to our Club from Mr Al Jasmi and Talal Al Hammad is unwavering and the very recent announcement on extending Leam Richardson’s contract for a further three years only goes to underline their support.We are all delighted that Leam has committed his future to the Club and that he wants to continue to develop his career at the DW Stadium.While the terms have been agreed for a while now - although not as far back as June 2021 - everyone concerned wanted to wait and officially announce the news during a short visit to Bahrain this week, to discuss a number of Club matters with Mr Al Jasmi and Talal.Leam has their full support and everyone is aligned on what the short, medium and long term goals are for the football operation.Delivering a championship-winning team less than 12 months after avoiding relegation, while instilling a culture and spirit of togetherness, reflects Leam’s character, and those of his staff, and there is a determined resolve to continue to build on the foundations already in place.It may be argued by some that this statement is a little overdue, but I feel it better to occasionally let the dust settle on some matters and ignore those issues that are much more of a speculative nature.I hope that the above has given assurance and answered some of the questions that may have been raised as a consequence of both factual and speculative information over the past couple of days.2
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Funny how late wages are always blamed on "the banking system". Its not the first time that Wigan have failed to pay the players on time. Cant say it's ever happened to me or anyone I know. Only time is does happen is usually when the employer has money problems.14
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You imagine the issue was with transfer of money from Bahrain or wherever to the UK to pay the bills and wages. It's possible that this was simply an admin cockup, and that the person doing it forgot to send the money, or typed in a wrong number.golfaddick said:Funny how late wages are always blamed on "the banking system". Its not the first time that Wigan have failed to pay the players on time. Cant say it's ever happened to me or anyone I know. Only time is does happen is usually when the employer has money problems.
Except when it happens more than once...2 -
Wouldn't make any difference. Plenty of poor owners out there. None of them set out with the intention of administration they are just deluded and arrogant.golfaddick said:
But they are STILL in that higher division. Unless administration meant automatic relegation then clubs will keep pushing the boundaries. Look at Derby. Took a few years before it finally caught up with them & they only got a points deduction for dodgy accounting, not for going into administration. QPR did it a few years ago too & they got into the Premier league. And when the EFL did finally "take action" it was once they had been relegated (because they couldn't touch them in the PL) and had the PL money to help pay any "fines". Probably no coincidence they are top 6 now as they probably have the better players that they signed post PL times.Swisdom said:
By doing EXACTLY what caused them administration last time - spending money they don’t have.golfaddick said:
What division are they in ?AndyG said:Be careful what u wish for lesson here folks
Without the overspending last season they wouldn’t have got promoted….. this is a piss take.
Crime pays in football.
Once the club is in administration the owner who caused the issue is essentially gone and the fans are left to feel the pain.
Rather than 10point deduction or relegation it would surely be better to make the owner personally liable to some extent. At that point most of them would immediately see sense.
Currently they play their games until they lose interest and then walk away leaving chaos.
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administration should be ejection from the football league, regardless of position in the pyramid.golfaddick said:
But they are STILL in that higher division. Unless administration meant automatic relegation then clubs will keep pushing the boundaries. Look at Derby. Took a few years before it finally caught up with them & they only got a points deduction for dodgy accounting, not for going into administration. QPR did it a few years ago too & they got into the Premier league. And when the EFL did finally "take action" it was once they had been relegated (because they couldn't touch them in the PL) and had the PL money to help pay any "fines". Probably no coincidence they are top 6 now as they probably have the better players that they signed post PL times.Swisdom said:
By doing EXACTLY what caused them administration last time - spending money they don’t have.golfaddick said:
What division are they in ?AndyG said:Be careful what u wish for lesson here folks
Without the overspending last season they wouldn’t have got promoted….. this is a piss take.
Crime pays in football.4
