Re: O/T Latics in administration : Fri Jul 03, 2020 7:03 am  

Ruddy Duck wrote:

What, when it took weeks for a bigger club like Bolton Wanderers to find a buyer, even with having a better, bigger and dearer Stadium than the Latics with a hotel, exhibition hall and large shop. Whelan had in fact, been trying to sell the Latics and the Stadium for a couple of years or so before the sale to the chinese company.

We can only hope that the administrator sells the Stadium as a seperate sale and it is bought by a company like in Huddersfield and Hull who will charge the same rent for both clubs and also change the the name of the Stadium to that of their company.

They were riddled with debt

Re: O/T Latics in administration : Fri Jul 03, 2020 7:57 am  

There is an elephant in the room though.

Somebody has to invest 25m knowing that they will never see it again.

Re: O/T Latics in administration : Fri Jul 03, 2020 8:17 am  

muttywhitedog wrote:

https://www.dailymail.co.uk/sport/football/article-8485007/EFL-chief-Rick-Parry-secretly-filmed-discussing-Wigan-Athletics-stricken-former-owner.html

It appears that someone placed a very large bet in the Philipines on their relegation just after they'd won yet another game to climb further away from the relegation zone, and just before their owners placed them into administration. Their owners are into gambling by the way....

The financial arrangements sound very murky indeed, and may put off even someone like Dave Whelan.

It’s utterly scandalous and smacks of corruption. Paul Kendrick says the club has money in the bank and the administrator Krasner (?) says it’s the strangest situation he’s ever been in given usually a club in administration has nothing or very little left.

It looks to me like the owners put the bet on to get themselves out of the mire, saw that Wigan were mounting their usual fight back and would likely stay up and chose to go into administration to manipulate the 12pt deduction to suit themselves.

Re: O/T Latics in administration : Fri Jul 03, 2020 8:23 am  

100% Warrior wrote:

It’s utterly scandalous and smacks of corruption. Paul Kendrick says the club has money in the bank and the administrator Krasner (?) says it’s the strangest situation he’s ever been in given usually a club in administration has nothing or very little left.

It looks to me like the owners put the bet on to get themselves out of the mire, saw that Wigan were mounting their usual fight back and would likely stay up and chose to go into administration to manipulate the 12pt deduction to suit themselves.

And that's before you look at how the recent sale happened where the club was "sold" by a plc company to a ltd company owned by the same person using a loan. 4 weeks later, and with some directors only being registered with companies house a day before the plug is pulled on any further money (money supposedly shown to the efl that was to run the club) and the club is stuck into administration. Not put up for sale like most people would do, stuck into administration.

Re: O/T Latics in administration : Fri Jul 03, 2020 8:29 am  

100% Warrior wrote:

It’s utterly scandalous and smacks of corruption. Paul Kendrick says the club has money in the bank and the administrator Krasner (?) says it’s the strangest situation he’s ever been in given usually a club in administration has nothing or very little left.

It looks to me like the owners put the bet on to get themselves out of the mire, saw that Wigan were mounting their usual fight back and would likely stay up and chose to go into administration to manipulate the 12pt deduction to suit themselves.

I didnt put THAT MUCH on them going down, not by my standards anyway

Re: O/T Latics in administration : Fri Jul 03, 2020 8:32 am  

Jukesays wrote:

I didnt put THAT MUCH on them going down, not by my standards anyway

Covering the losses of last season?

Re: O/T Latics in administration : Fri Jul 03, 2020 2:36 pm  

Ruddy Duck wrote:

What, when it took weeks for a bigger club like Bolton Wanderers to find a buyer, even with having a better, bigger and dearer Stadium than the Latics with a hotel, exhibition hall and large shop. Whelan had in fact, been trying to sell the Latics and the Stadium for a couple of years or so before the sale to the chinese company.


We can only hope that the administrator sells the Stadium as a seperate sale and it is bought by a company like in Huddersfield and Hull who will charge the same rent for both clubs and also change the the name of the Stadium to that of their company.

I am told the 2 situations are very different.

Re: O/T Latics in administration : Fri Jul 03, 2020 2:38 pm  

Pie_Eyter wrote:

There is an elephant in the room though.

Somebody has to invest 25m knowing that they will never see it again.

Unless they sell christopher park for houses once they have bought the club?

Re: O/T Latics in administration : Fri Jul 03, 2020 2:40 pm  

Jukesays wrote:

I didnt put THAT MUCH on them going down, not by my standards anyway

I got 12/1 2 weeks ago. Wish i had more than a tenner on now.

Re: O/T Latics in administration : Fri Jul 03, 2020 2:49 pm  

100% Warrior wrote:

It’s utterly scandalous and smacks of corruption. Paul Kendrick says the club has money in the bank and the administrator Krasner (?) says it’s the strangest situation he’s ever been in given usually a club in administration has nothing or very little left.

It looks to me like the owners put the bet on to get themselves out of the mire, saw that Wigan were mounting their usual fight back and would likely stay up and chose to go into administration to manipulate the 12pt deduction to suit themselves.

Not sure how much they have allegedly put on but it can’t be that much as they regulate bets placed for irregularities, so if they put 200k on them to be relegated at 12/1 then lights start flashing. What i will say is that last week they were removed from the relegation betting but i presumed it was because it wasn’t possible but maybe it wasn’t??