Re: Latics in administration - Lenagan leading bid : Fri Aug 28, 2020 11:23 am  

Lazy J wrote:

this is a tricky one, if they can buy the stadium for 2.5 million its a bargian, at the moment we have a very good lease, but i assume as i dont know that that is with the current statdium owners who are about to go bust. So if IFL doesnt buy the stadium then we are at the mercy of whoever buys the latics, they will want to recoup money so our nice deal does out of the window.

at the moment the staduim will cost 4m and you get the latics free, but they are at least 5m in debt its tricky, a lot will play out this weekend as the self emposed deadline is Monday.

owning the stadium is a big big commitment, but the club can base itself there, train at robun park and have the rest of the club run out of the stadium. otherwise we have to wait and see who buys the tics, and what they want to charge us

We’re not at the mercy of anyone. We have a 50yr lease, if they want us out of that then they have to buy us out of it. We’ll claim astronomical sums to be bought out of it, enough to buy land and build our own stadia. Latics can’t survive in a 25k seater without us and vice versa. Both clubs need the other.

Re: Latics in administration - Lenagan leading bid : Fri Aug 28, 2020 11:47 am  

100% Warrior wrote:

Latics can’t survive in a 25k seater without us and vice versa. Both clubs need the other.

And that is the crux of the matter.

Had Latics made their PL stay one in which they weren't fighting relegation every year and were an established side then they possibly could have done but they would have needed the bandwagoners to stick with them.

Realistically, as you say. The two need one another. Something that IL may have forgotten if the details from yesterday are true.

Re: Latics in administration - Lenagan leading bid : Fri Aug 28, 2020 12:01 pm  

Egg Chasing wrote:

100% Warrior wrote:

Latics can’t survive in a 25k seater without us and vice versa. Both clubs need the other.

And that is the crux of the matter.

Had Latics made their PL stay one in which they weren't fighting relegation every year and were an established side then they possibly could have done but they would have needed the bandwagoners to stick with them.

Realistically, as you say. The two need one another. Something that IL may have forgotten if the details from yesterday are true.

I dont know what details you're referring to but the notion that IL isnt fully aware of all of the ramifications of taking the stadium on as well as the benefits of a good working relationship with the Latics is nonsensical to me.

On a separate matter having just watched the press conference, Gerald Krasner comes across terribly. Rude, arrogant and unsympathetic to the fans who will be understandably upset. He might well be a terrific administrator but he doesnt come across well which will only add to the ill feeling.

Re: Latics in administration - Lenagan leading bid : Fri Aug 28, 2020 12:55 pm  

MadDogg wrote:

I dont know what details you're referring to but the notion that IL isnt fully aware of all of the ramifications of taking the stadium on as well as the benefits of a good working relationship with the Latics is nonsensical to me.

That he bid for the properties but not the club. He doesn't have to do that of course but it would probably sign the clubs death warrant which is why their fans are probably a tad upset at him.

Re: Latics in administration - Lenagan leading bid : Fri Aug 28, 2020 1:01 pm  

Egg Chasing wrote:

That he bid for the properties but not the club. He doesn't have to do that of course but it would probably sign the clubs death warrant which is why their fans are probably a tad upset at him.

Well I don't buy for a second that IL would bid for the properties without a clear proposal to safeguard the future of the football club (despite the fears of a minority of Latics fans). Doesn't make sense on any number of levels.

Re: Latics in administration - Lenagan leading bid : Fri Aug 28, 2020 3:19 pm  

100% Warrior wrote:

We’re not at the mercy of anyone. We have a 50yr lease, if they want us out of that then they have to buy us out of it. We’ll claim astronomical sums to be bought out of it, enough to buy land and build our own stadia. Latics can’t survive in a 25k seater without us and vice versa. Both clubs need the other.

If the latics go bust and are bought out of administration (phoenix company) is the lease stil valid? all other contracts are null and void, if they form a Newco to run latics they would be our new landlords, so could renegatiate, in the same way we would have to negotiate a lease with the latics if they are split up for thier assests and the just the football club is bought out of administration

Re: Latics in administration - Lenagan leading bid : Fri Aug 28, 2020 6:08 pm  

Lazy J wrote:

If the latics go bust and are bought out of administration (phoenix company) is the lease stil valid? all other contracts are null and void, if they form a Newco to run latics they would be our new landlords, so could renegatiate, in the same way we would have to negotiate a lease with the latics if they are split up for thier assests and the just the football club is bought out of administration

In that instance I can merely take a decent guess at what’ll happen; the council will buy the stadium and our lease will continue as tenants of the ground.

Of course I may be entirely wrong and if I am then we would be in serious trouble. IL may want to own the ground but he’d want to own it with both clubs there. The stadium being unused for 6months of the year is a huge financial loss and risk and one that I don’t think IL would accept.

As MadDogg says I’m not buying into the word that IL wanted the properties but not the club. It made no sense, why own a training ground with no club there? A stadium he can’t afford to run with the rugby club too? Why invest in Robin Park only to own another training ground which would be unused and another white elephant? In one sense I can understand the Latics fans anger but on the other I can’t help but feel Krasner has spun a half truth and let it develop. IL is not a man that would let the football club die as he watched on taking their assets.

This isn’t me in blind defence of him, ultimately I don’t know the truth anymore than Latics fans do, but if the last 13yrs have anything to prove it’s that he’s a good owner and a good man.

Re: Latics in administration - Lenagan leading bid : Sat Aug 29, 2020 7:30 am  

100% Warrior wrote:

In that instance I can merely take a decent guess at what’ll happen; the council will buy the stadium and our lease will continue as tenants of the ground.

Of course I may be entirely wrong and if I am then we would be in serious trouble. IL may want to own the ground but he’d want to own it with both clubs there. The stadium being unused for 6months of the year is a huge financial loss and risk and one that I don’t think IL would accept.

As MadDogg says I’m not buying into the word that IL wanted the properties but not the club. It made no sense, why own a training ground with no club there? A stadium he can’t afford to run with the rugby club too? Why invest in Robin Park only to own another training ground which would be unused and another white elephant? In one sense I can understand the Latics fans anger but on the other I can’t help but feel Krasner has spun a half truth and let it develop. IL is not a man that would let the football club die as he watched on taking their assets.

This isn’t me in blind defence of him, ultimately I don’t know the truth anymore than Latics fans do, but if the last 13yrs have anything to prove it’s that he’s a good owner and a good man.

The administrators said basically all bidders to date for the properties wanted to flip them for a quick profit. I’m only surprise IL hasn’t done the same and sold Edge Hall Road.

Re: Latics in administration - Lenagan leading bid : Sat Aug 29, 2020 12:11 pm  

Randy Frankel, owner of Tampa Bay Ray's is set to shake hands on a £4 million deal in the coming days according to today's Daily Mail
Don't know if thats good or bad news for you if true..

Re: Latics in administration - Lenagan leading bid : Sat Aug 29, 2020 12:30 pm  

newgroundb4wakey wrote:

Randy Frankel, owner of Tampa Bay Ray's is set to shake hands on a £4 million deal in the coming days according to today's Daily Mail
Don't know if thats good or bad news for you if true..

Good news in my opinion. I’ve no love for Latics but to see them go would be sad, I’m glad they’re likely to survive.