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[Football] Wigan go into adminsitration



Joey Jo Jo Jr. Shabadoo

Waxing chumps like candles since ‘75
Oct 4, 2003
10,895
Wigan have gone into administration. First club to be impacted by the shutdown of football, but sadly I doubt they will be the only ones effected.

[tweet]1278289766379855872[/tweet]
 








Kalimantan Gull

Well-known member
Aug 13, 2003
12,898
Central Borneo / the Lizard
Sad. I know that on-the-pitch results don't mean much when a club goes into administration, but they had won all three games since restart to pull 8 points clear of relegation, but now the inevitable 12 point deduction will send them all the way back down to the bottom of the table.
 






Joey Jo Jo Jr. Shabadoo

Waxing chumps like candles since ‘75
Oct 4, 2003
10,895
Wonder how much of this is to do with the investment firm that purchased them a couple of years ago bailing as they've not seen a return on their money. Would the Whelan family have been more willing to cover the losses incurred by the shutdown had they still been the owners. Make you realise how lucky we are that TB is around and we weren't sold off to some faceless corporation.

Got to feel for Leon Balogun who'd just agreed to join them for next season. From the PL and the World Cup to possible League 1 football in 3 seasons.
 






Eeyore

Lord Donkey of Queen's Park
NSC Patreon
Apr 5, 2014
23,381
Teams shouldn't be facing points deductions for entering administration at the moment. That's just sick.
 




Bozza

You can change this
Helpful Moderator
Jul 4, 2003
55,575
Back in Sussex
You’d like to think that common sense will prevail and any clubs that go into administration due to covid will remain in the division that they were in

Teams shouldn't be facing points deductions for entering administration at the moment. That's just sick.

I'm no financial expert, but I imagine that could be open to abuse, ie a club forces itself into administration in order to reduce their debts, and then come out the other side in better shape.
 






Acker79

Well-known member
NSC Patreon
Nov 15, 2008
31,765
Brighton
Haven't they always been a club that was in a perilous position due to being a "rugby town" and only ever really getting crowds and interest in their football team when they got to the premier league?
 


Eeyore

Lord Donkey of Queen's Park
NSC Patreon
Apr 5, 2014
23,381
I'm no financial expert, but I imagine that could be open to abuse, ie a club forces itself into administration in order to reduce their debts, and then come out the other side in better shape.

Looking further, it appears Wigan were only taken over four weeks ago by a Hong Kong Anon. Obviously fit and proper.
 






Harry Wilson's tackle

Harry Wilson's Tackle
NSC Patreon
Oct 8, 2003
49,341
Faversham
Wonder how much of this is to do with the investment firm that purchased them a couple of years ago bailing as they've not seen a return on their money. Would the Whelan family have been more willing to cover the losses incurred by the shutdown had they still been the owners. Make you realise how lucky we are that TB is around and we weren't sold off to some faceless corporation.

Got to feel for Leon Balogun who'd just agreed to join them for next season. From the PL and the World Cup to possible League 1 football in 3 seasons.

Six million quid debt, apparently. Peanuts for a recent PL club who recently won the FA cup. I think you may be right.
 


Mackenzie

Old Brightonian
Nov 7, 2003
33,508
East Wales
I'm no financial expert, but I imagine that could be open to abuse, ie a club forces itself into administration in order to reduce their debts, and then come out the other side in better shape.
Look at palace, they’ve done it loads of times. The cheats.
 


Papa Lazarou

Living in a De Zerbi wonderland
Jul 7, 2003
18,840
Worthing
I'm no financial expert, but I imagine that could be open to abuse, ie a club forces itself into administration in order to reduce their debts, and then come out the other side in better shape.

I can’t think that would ever happen...

Are we expecting an press release from Palace or Leicester any time soon?
 




keaton

Big heart, hot blood and balls. Big balls
Nov 18, 2004
9,630
On 4June approved new owners as fit and proper.

David Conn in The Guardian
"The EFL’s test and takeover process involves determining that a new owner has the money to buy a club and support it financially for at least the remainder of the season and the whole of the following season"
 





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