Wigan in Administration

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Re: Wigan in Administration

by Wycombe Royal » 02 Jul 2020 15:30

Sanguine
I don't know a lot about the circumstances of Wigan's administration - but if the situation is COVID-related, I have a bit of sympathy with the amount of the deduction.

Doesn't sound like it is related to Covid and it appears there may be some illegal goings on....the EFL have some answering to do becauase they have allowed a take over with no checks, and ownership was actually changed last week to a Hong Kong poker player was was previously a minority sharegholder. He almost immediately put the club into administration and no-one knows why (none of the UK directors were consulted). Apparently there were no money issues but there are now reports that £4m has gone missing from the accounts which would have paid their bills.

There is a lot more to this than meets the eye...

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Re: Wigan in Administration

by SouthDownsRoyal » 02 Jul 2020 22:44

Wycombe Royal
Sanguine
I don't know a lot about the circumstances of Wigan's administration - but if the situation is COVID-related, I have a bit of sympathy with the amount of the deduction.

Doesn't sound like it is related to Covid and it appears there may be some illegal goings on....the EFL have some answering to do becauase they have allowed a take over with no checks, and ownership was actually changed last week to a Hong Kong poker player was was previously a minority sharegholder. He almost immediately put the club into administration and no-one knows why (none of the UK directors were consulted). Apparently there were no money issues but there are now reports that £4m has gone missing from the accounts which would have paid their bills.

There is a lot more to this than meets the eye...



:o

Thanks for that info. Blimey, More to this that meets the eye

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Re: Wigan in Administration

by Stranded » 03 Jul 2020 04:43

SouthDownsRoyal
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Sanguine

Doesn't sound like it is related to Covid and it appears there may be some illegal goings on....the EFL have some answering to do becauase they have allowed a take over with no checks, and ownership was actually changed last week to a Hong Kong poker player was was previously a minority sharegholder. He almost immediately put the club into administration and no-one knows why (none of the UK directors were consulted). Apparently there were no money issues but there are now reports that £4m has gone missing from the accounts which would have paid their bills.

There is a lot more to this than meets the eye...



:o

Thanks for that info. Blimey, More to this that meets the eye


Administrator quite forthright in that he thinks they can get through the season but there is a real danger of another Bury.

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Re: Wigan in Administration

by tidus_mi2 » 03 Jul 2020 09:28

Man the Wigan situation is serious bullshit, the EFL approve a takeover and less than a month later they are put in administration, so much for fit and proper.

While this situation benefits us, I would not be adverse to the points deduction being waived, Wigan are being punished by the EFL for the EFL approving a bad takeover.

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Re: Wigan in Administration

by Wycombe Royal » 03 Jul 2020 09:39

The latest rumour is that there is a massive bet in the Phillipines on Wigan getting relegated...this came from a Wigan fan who recorded Rick Parry saying this - the Wigan fan lives next door to him and the recording is all over Twitter........


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Re: Wigan in Administration

by SouthDownsRoyal » 03 Jul 2020 10:41

Wycombe Royal The latest rumour is that there is a massive bet in the Phillipines on Wigan getting relegated...this came from a Wigan fan who recorded Rick Parry saying this - the Wigan fan lives next door to him and the recording is all over Twitter........


Is this genuine??

https://mobile.twitter.com/oSimplyStuar ... eo-4288376

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Re: Wigan in Administration

by Wycombe Royal » 03 Jul 2020 10:45

SouthDownsRoyal
Wycombe Royal The latest rumour is that there is a massive bet in the Phillipines on Wigan getting relegated...this came from a Wigan fan who recorded Rick Parry saying this - the Wigan fan lives next door to him and the recording is all over Twitter........


Is this genuine??

https://mobile.twitter.com/oSimplyStuar ... eo-4288376

Yes it has been confirmed as genuine, but Parry does say it is only a rumour.

However for someone is his position to say it, whether he knew he was being recorded or not, must mean there is some evidence behind it.....otherwise he is incredibly stupid.

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Re: Wigan in Administration

by WestYorksRoyal » 03 Jul 2020 10:50

I'm only just realising what an utter shit show this is. When I saw the headlines, I thought it was just another case of financial mismanagement. But even if this gambling fraud thing is false, this is an utter disgrace. Nobody understands who the owner is or the source of funds. Into administration about a month after takeover.

Football regulators (not just EFL) seem to be utterly toothless and useless. What do you have to do to fail the fit and proper person test?

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Re: Wigan in Administration

by SouthDownsRoyal » 03 Jul 2020 10:56

Wycombe Royal
SouthDownsRoyal
Wycombe Royal The latest rumour is that there is a massive bet in the Phillipines on Wigan getting relegated...this came from a Wigan fan who recorded Rick Parry saying this - the Wigan fan lives next door to him and the recording is all over Twitter........


Is this genuine??

https://mobile.twitter.com/oSimplyStuar ... eo-4288376

Yes it has been confirmed as genuine, but Parry does say it is only a rumour.

However for someone is his position to say it, whether he knew he was being recorded or not, must mean there is some evidence behind it.....otherwise he is incredibly stupid.


True, even if there is evidence he is still stupid, everyone has a phone to film things so especially in his role, saying things like this is just daft


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Re: Wigan in Administration

by Mid Sussex Royal » 03 Jul 2020 11:05

It sadly won't help Wigan avoid a points deduction; the EFL's role is only a ratification - they have signed off loads of dodgy owners like Bury/Bolton last season, if there was any recourse clubs would have gone there in the past

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Re: Wigan in Administration

by Wycombe Royal » 03 Jul 2020 11:14

Mid Sussex Royal It sadly won't help Wigan avoid a points deduction; the EFL's role is only a ratification - they have signed off loads of dodgy owners like Bury/Bolton last season, if there was any recourse clubs would have gone there in the past

I'm not so sure....if there is a gambling angle in this and they give Wigan a 12 point deduction which relegates them and this guy wins his bet they are effectively indirectly complicit in illegal gambling.

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Re: Wigan in Administration

by Snowflake Royal » 03 Jul 2020 11:19

WestYorksRoyal I'm only just realising what an utter shit show this is. When I saw the headlines, I thought it was just another case of financial mismanagement. But even if this gambling fraud thing is false, this is an utter disgrace. Nobody understands who the owner is or the source of funds. Into administration about a month after takeover.

Football regulators (not just EFL) seem to be utterly toothless and useless. What do you have to do to fail the fit and proper person test?

Have an unspent criminal conviction - possibly just fraud related, be banned from holding company directorship in the uk or not be able to provide proof of funds.

That's why they changed the name to owners and directors test IMO, because it's got nothing to do with the public's understanding of fit and proper.

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Re: Wigan in Administration

by Emmer Green Royal » 03 Jul 2020 11:25

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Jackson Corner I wouldn't laugh we could be next. Along with others sadly this Covid is going to hit football very hard.


Why would we be next ?
It would be unlikely, but I wouldn't rule out us breaking financial fair play rules if the owner puts more money than is permitted into the club to ensure we don't go into administration.


If a club could find itself in a position where the only two options were:

1) inject money, break FFP, get penalised
2) go into administration, get penalised

...that would be scary.


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Re: Wigan in Administration

by WestYorksRoyal » 03 Jul 2020 11:27

I guess you can't perform due diligence on motivations and intentions, which is what you really need. Dodgy owners buying up companies to extract value unfortunately happens outside of football too. So I guess the question is really whether company law is sufficient for football clubs.

We can't move to the German ownership model with repossessing clubs from existing owners. But something like mandatory fan/community representation on Boards is something we could easily implement, and they'd then have a say in any takeover discussions.

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Re: Wigan in Administration

by Forbury Lion » 03 Jul 2020 11:29

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Why would we be next ?
It would be unlikely, but I wouldn't rule out us breaking financial fair play rules if the owner puts more money than is permitted into the club to ensure we don't go into administration.


If a club could find itself in a position where the only two options were:

1) inject money, break FFP, get penalised
2) go into administration, get penalised

...that would be scary.
Agreed, but I'd certainly prefer option 1 over option 2 and I imagine any successful business man/woman owner would not want to be having a business that goes into administration so I would imagine as long as they have the funds and are willing to loan it to their business or at least help secure a loan then they probably would.

I only hope our owners have companies making hand sanitizer and face masks rather than business that are also suffering in this current situation

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Re: Wigan in Administration

by Snowflake Royal » 03 Jul 2020 11:47

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Forbury Lion It would be unlikely, but I wouldn't rule out us breaking financial fair play rules if the owner puts more money than is permitted into the club to ensure we don't go into administration.


If a club could find itself in a position where the only two options were:

1) inject money, break FFP, get penalised
2) go into administration, get penalised

...that would be scary.
Agreed, but I'd certainly prefer option 1 over option 2 and I imagine any successful business man/woman owner would not want to be having a business that goes into administration so I would imagine as long as they have the funds and are willing to loan it to their business or at least help secure a loan then they probably would.

I only hope our owners have companies making hand sanitizer and face masks rather than business that are also suffering in this current situation

FFP 's been suspended so you might be able to get away with the first one.

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Re: Wigan in Administration

by Nameless » 03 Jul 2020 13:58

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If a club could find itself in a position where the only two options were:

1) inject money, break FFP, get penalised
2) go into administration, get penalised

...that would be scary.
Agreed, but I'd certainly prefer option 1 over option 2 and I imagine any successful business man/woman owner would not want to be having a business that goes into administration so I would imagine as long as they have the funds and are willing to loan it to their business or at least help secure a loan then they probably would.

I only hope our owners have companies making hand sanitizer and face masks rather than business that are also suffering in this current situation

FFP 's been suspended so you might be able to get away with the first one.


Is this correct ? Can’t see anything on the EFL website. I thought UEFA had announced suspension but isn’t that only applicable to European competition ? I may have missed the EFL announc,ent.

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Re: Wigan in Administration

by Snowflake Royal » 03 Jul 2020 14:11

Could be wrong but I thought we got an announcement that put us in the clear given our terrifying wages to income issue that came to light recently.

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Re: Wigan in Administration

by windermereROYAL » 03 Jul 2020 14:29

Surely the bookies wouldn`t pay out on Wigan`s relegation if there was the slightest suspicion?

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Re: Wigan in Administration

by Wycombe Royal » 03 Jul 2020 14:44

windermereROYAL Surely the bookies wouldn`t pay out on Wigan`s relegation if there was the slightest suspicion?

We are talking about bets placed in the Phillipines......

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