Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 10:58 am  

Egg Chasing wrote:

the administrators have just confirmed there was nothing illegal so i guess they have nothing to be upset about.

We would be in the same position if IFL decided not to cover our losses. Not sure what our debts are though, obviously there aren't really transfer fees in rugby so that would take away half of latics debts

Just wrote the same thing earlier "Not too dissimilar than if IFL said tomorrow that he wasn't prepared to put "X" into Wigan to cover their losses"

However
I would argue that IFL putting "X" in each year to balance the books is similar to what Whelan would have been doing
Seems these guys are not Balancing the Books so the administrators need to get rid of assets to cover those losses.

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 11:00 am  

MattyB wrote:

Administrators are currently answering questions.

Q How close are you to selling the stadium?

A I'm not selling the stadium independently.

Hence why it may be a bit premature to start worrying about filling in the corners and spending 2 miliion on creating standing areas.

Long way to go yet on this one before anyone knows what's going to happen

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 11:05 am  

Jukesays wrote:

Correct
I'd like to see some evidence of where the owners wanted liquidation Before Administration ?

Either way it's a Moot Point
Top line is they wanted shut - And losing 15million a year was a big reason - They wanted Rid before Covid as well so that isn't the only reason they wanted shut, although it certainly will have increased the pressure to do so and increased potential losses?

Latics still had a LONG way to go to be a "Well Run Club" IMO
Acceptable losses are only acceptable as long as the person who is accruing those losses is prepared to accept them & Fund them

Seems strange to me why IEC decided in Nov/Dec19 that they weren't prepared to do that anymore, but end of the day that's their right.

Not too dissimilar than if IFL said tomorrow that he wasn't prepared to put "X" into Wigan to cover their losses

I totally agree it makes zero sense to pay £40M for a club, dump a higher interest rate loan of £25M repayable in the next calendar year. Paul Stanley in one of the many interviews he’s done on Zoom and in the press stated their administration company was contacted to immediately liquidate the club but they advised them client’ of the administration process. The £25M loan has now been wiped off Latics’ creditors list as a goodwill gesture from the owner who said they couldn’t afford to fund the club and ‘wouldn’t put a penny more into it from July.’

IEC wanted out the minute it was obvious promotion wasn’t going to happen. Latics had gone something like 36 away games and 1 win in that time and were bottom of the league.

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 12:20 pm  

Lenners getting a right rinsing on Twitter at the moment.

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 12:39 pm  

MattyB wrote:

Lenners getting a right rinsing on Twitter at the moment.

If someone was to take over the Latics, is there any scope to change the agreement Lenagan has in place on the rent? It doesn’t read well that it looks like he wanted all the property and not the club if we are to ever have some kind of harmony in the town.

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 12:54 pm  

DannyT wrote:

If someone was to take over the Latics, is there any scope to change the agreement Lenagan has in place on the rent? It doesn’t read well that it looks like he wanted all the property and not the club if we are to ever have some kind of harmony in the town.

You think you'll ever have harmony in the town so long as Wigan Athletic are there? About half their fans won't be happy until we ourselves are gone.

There's more chance of harmony in Palestine.

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 1:01 pm  

Cruncher wrote:

You think you'll ever have harmony in the town so long as Wigan Athletic are there? About half their fans won't be happy until we ourselves are gone.

There's more chance of harmony in Palestine.

works both ways. Few of the lads I go to games with hate the latics but can't give any substantial reason as to why

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 1:12 pm  

DannyT wrote:

If someone was to take over the Latics, is there any scope to change the agreement Lenagan has in place on the rent? It doesn’t read well that it looks like he wanted all the property and not the club if we are to ever have some kind of harmony in the town.

What do you mean by "it doesn't look well"?

IL has a responsibility to one club and that's ours. I can't imagine the goings on at Latics over the last few years has filled him with confidence about their long term future.

It made sense for him to try and solidify the future of Wigan Rugby at the DW by buying the stadium. It "wouldn't look good" if he didn't. Or does harmony for the town mean we once again bend over backwards, so that the football 1/4 of the town get their own way?

I'm pretty miffed at the admin who hasn't sold IL the stadium because he says he'd get shot. Nice to see he's looking out for the business & the interests of the tenant's instead of his own neck.

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 1:17 pm  

Egg Chasing wrote:

works both ways. Few of the lads I go to games with hate the latics but can't give any substantial reason as to why

You don't have to give a reason. Neither side does.

In sport, you support who you want to and dislike who you want to.

Someone asked something about how there could ever be harmony in the town. My view is that there can't. But that doesn't mean a compromise can't be reached.

Re: Latics in administration - Lenagan leading bid : Thu Aug 27, 2020 1:20 pm  

sergeant pepper wrote:

What do you mean by "it doesn't look well"?

IL has a responsibility to one club and that's ours. I can't imagine the goings on at Latics over the last few years has filled him with confidence about their long term future.

It made sense for him to try and solidify the future of Wigan Rugby at the DW by buying the stadium. It "wouldn't look good" if he didn't. Or does harmony for the town mean we once again bend over backwards, so that the football 1/4 of the town get their own way?

I'm pretty miffed at the admin who hasn't sold IL the stadium because he says he'd get shot. Nice to see he's looking out for the business & the interests of the tenant's instead of his own neck.

That wasn't the story that IFL played in the press though was it?