Author Topic: Wigan  (Read 1102 times)

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Blue_and_Gold

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Wigan
« on: July 01, 2020, 12:35:31 PM »
Wigan Athletic has gone into administration after the coronavirus pandemic had a "significant impact" on the football club's finances.

Paul Stanley, Gerald Krasner and Dean Watson from Begbies Traynor have been appointed as joint administrators for the Championship team, a statement said.

Mr Krasner said: "Our immediate objectives are to ensure the club completes all its fixtures this season and to urgently find interested parties to save Wigan Athletic FC and the jobs of the people who work for the club.

"Obviously the suspension of the Championship season due to COVID-19 has had a significant impact on the recent fortunes of the club.

"Wigan Athletic has been a focal point and source of pride for the town since 1932 and anyone who is interested in buying this historic sporting institution should contact the joint administrators directly."



More:  https://www.theguardian.com/football/2020/jul/01/wigan-go-into-administration-four-weeks-after-hong-kong-takeover
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Mallard

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Re: Wigan
« Reply #1 on: July 01, 2020, 03:25:06 PM »
Hasnít there been a couple of takeovers there in recent months from Overseas Investors ?

I wonder if this will start the ball rolling?

I saw today the big Autumn fair in Birmingham due to take place in Sept or Oct has been cancelled and Christmas Pantoís are now starting having the plug pulled on some of them.  Things might be a while yet before before crowds are permitted to attend  entertainment venueís.

I found it amazing with Leicester in lockdown that Horse Racing went ahead there yesterday and Saturdayís  home game in the Premiership is also going ahead at the King Power Stadium.

Blue_and_Gold

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Re: Wigan
« Reply #2 on: July 01, 2020, 03:39:23 PM »
Hasnít there been a couple of takeovers there in recent months from Overseas Investors ?

Only 4 weeks ago, an Asian shareholder increased his shareholding in the Club to 75%, effectively taking over control of the Club.

Club has apparently posted a £9,000,000 loss.


Previous owners sold to current owners citing one of the reasons as being "it was dissatisfied with the loss-making finances of the Championship................".

The current owners have now said something similar, "unsatisfactory financial performance of the club, due to the punishing economics of the Championship..........."




Don't stop and never give up. If you have achieved all your objectives, you have set your targets too low!

gs50

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Re: Wigan
« Reply #3 on: July 01, 2020, 04:32:58 PM »
I always thought the idea of going into administration was that all players contracts automatically cancelled.

MARCUS ROSE

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Re: Wigan
« Reply #4 on: July 01, 2020, 08:21:29 PM »
Hasnít there been a couple of takeovers there in recent months from Overseas Investors ?

Only 4 weeks ago, an Asian shareholder increased his shareholding in the Club to 75%, effectively taking over control of the Club.

Club has apparently posted a £9,000,000 loss.


Previous owners sold to current owners citing one of the reasons as being "it was dissatisfied with the loss-making finances of the Championship................".

The current owners have now said something similar, "unsatisfactory financial performance of the club, due to the punishing economics of the Championship..........."

What they mean is,  spent money they never had, trying to keep up with the big boys.  :countingmoney:

Mallard

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Re: Wigan
« Reply #5 on: July 02, 2020, 08:41:20 AM »
Think we can count ourselves lucky that Stephen Cleeve has said he is not prepared to continue to bankroll the club and wants to see it become self sufficient.   I guess thatís why we are getting so many appeals to the fans for funds. 


TonyM

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Re: Wigan
« Reply #6 on: July 02, 2020, 01:09:55 PM »
Mallard, can you keep the gags to the 'Next seasons squad' thread please?

MARCUS ROSE

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Re: Wigan
« Reply #7 on: July 02, 2020, 09:09:00 PM »
Think we can count ourselves lucky that Stephen Cleeve has said he is not prepared to continue to bankroll the club and wants to see it become self sufficient.   I guess thatís why we are getting so many appeals to the fans for funds.

 :laughcry: