Wigan - Into Administration

Discussion in 'Bulletin Board' started by Bruce, Jul 1, 2020.

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  1. portsmouth tyke

    portsmouth tyke Well-Known Member

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    Even before the covid outbreak I couldn't believe how Wigan were surving on low attendances and paying pop star wages, even with a rich owner they will only bail out the players and staff for a certain amount of time before it becomes a massive loss to them, I have sympathy for the supporters of the club but like Pompey a few years ago they should have cut their cloth accordingly, regarding covid, their were only 9 games left to play, probably 4 or 5 at home, have them few home games behind closed doors really made that much of a financial difference ? I reckon they were in a financial train crash well before the virus
     
    portsmouth tyke, Jul 1, 2020
    #41
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  2. Dragon Tyke

    Dragon Tyke Well-Known Member

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    Dragon Tyke, Jul 1, 2020
    #42
  3. tosh

    tosh Well-Known Member

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    But they have broken a rule by going into admin and that carries a 12 pt deduction this season.
     
    tosh, Jul 1, 2020
    #43
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  4. lk3

    lk311 Well-Known Member

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    Can’t see how they can, if they did every club would consider it to wipe out their debts
     
    lk311, Jul 1, 2020
    #44
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  5. PLOBBY

    PLOBBY Well-Known Member

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    This really is a devastating situation that were living through, not only for Wigan but for most clubs, especially in the EFL. Be careful what you wish for.
     
    PLOBBY, Jul 1, 2020
    #45
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  6. Mrs

    MrsHallsToffeerolls Well-Known Member

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    Hear hear that man lets "get it done" without any of this point deduction shenanigans.
     
    MrsHallsToffeerolls, Jul 1, 2020
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  7. Burgundy Red

    Burgundy Red Well-Known Member

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    Boris, is that you?
     
    Burgundy Red, Jul 1, 2020
    #47
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  8. George Kerr

    George Kerr Well-Known Member

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    What I find really annoying is that running your business ( in our case BFC), with probity and within the rules is not rewarded. Failure is rewarded, because the governing bodies (Premier League, EFL and FA) are too ? ? ?.......... Weak, ineffective or corrupt. You choose which.
     
    George Kerr, Jul 1, 2020
    #48
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  9. Wat

    WatfordRed Well-Known Member

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    This was from last season. Wages equating to 168% of income. Gonna be hard to make a case that covid is the cause of their financial meltdown when looking at that.
     
    WatfordRed, Jul 1, 2020
    #49
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  10. Dragon Tyke

    Dragon Tyke Well-Known Member

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    all 3 for me mate.
     
    Dragon Tyke, Jul 1, 2020
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  11. Mrs

    MrsHallsToffeerolls Well-Known Member

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    Guilty as charged.
     
    MrsHallsToffeerolls, Jul 1, 2020
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  12. Nardiello

    Nardiello Well-Known Member

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    Hadn't thought about that. Tough call for the EFL then.
     
    Nardiello, Jul 1, 2020
    #52
  13. Old Goat

    Old Goat Well-Known Member

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    The principle of buying players by instalments needs reviewing. It allows reckless spenders to strengthen throughout the squad, with the hope of reaching the top flight. By the time it catches up with them, they've not only put their own club at risk, but also threatened anyone owed money when the stuff hits the fan.

    If clubs had to pay up at the point of transfer (like buying a house), the seller wouldn't carry any risk. It might also level the playing field and drag values down to a more sensible place.
     
    Old Goat, Jul 1, 2020
    #53
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  14. lk3

    lk311 Well-Known Member

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    It is, as someone else said there for the grace of god.
    Dave Whelan sold to someone he believed in who then sold out to Investors, it would appear those investors rather than put more in took the business option of admin.
    Food for thought for us all
     
    lk311, Jul 1, 2020
    #54
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  15. thetykester

    thetykester Well-Known Member

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    Med mi chuckle did that.
     
    thetykester, Jul 1, 2020
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  16. leebrilleaux

    leebrilleaux Well-Known Member

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    leebrilleaux, Jul 1, 2020
    #56
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  17. CarltonRed

    CarltonRed Well-Known Member

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    Good point
     
    CarltonRed, Jul 1, 2020
    #57
  18. ade

    ade Well-Known Member

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    ade, Jul 1, 2020
    #58
  19. Red

    Red Rain Well-Known Member

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    Wigan's reported profits / -Losses for the last 4 years are as follows:

    2016 £-2,297,228
    2017 £ 4,256,253
    2018 £-7,668,613
    2019 £-9,222,656

    After their last year end, they bought Keiffer Moore from us for a reported £4m. No-one could have seen Covid19 coming, but clearly, they have been living beyond their means for many years. For those who argue that owners should cover losses, why aren't the Wigan owners covering theirs. If they are not punished with a deduction of a full 12 points, it will be yet another slap in the face by the EFL to clubs like Barnsley who manage their affairs responsibly.

    Provided Wigan find new owners, the EFL guarantee on inter club debt guarantees that we will receive the outstanding balance on the Keiffer Moore deal.
     
    Red Rain, Jul 1, 2020
    #59
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  20. Brush

    Brush Well-Known Member

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    Wow.

    All to play for now then, just hope they get the finger out with respect to the Fowls.
     
    Brush, Jul 1, 2020
    #60
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