Wigan Administrator's Press Conference

A Wigan journo is quoting one of the administrators as saying the football debts have now been paid.

 

I can see why some buyers wont be keen on owning the stadium, not sure it's the 24/7, 365 day a year income opportunity some might think it to be. I can't think of any major non-sporting events that have been held there, and they couldn't even get a Rugby League world cup game. Bolton's stadium is close by, far easier to get to (just off the m61), with a hotel there, which is likely to be a more attractive proposition for anyone promoting an event that needs a stadium that size.

One thing that I'm struggling with is that for all the talk amongst Wigan fans of needing change in ownership models, fit and proper tests etc... they're still praying for a couple of Americans, who they know precious little about, to come in and save them, with no guarantees that they wont be in the same boat in two years time.

 

I only found out the other day, that the training complex they were moaning had been opportunistically acquired by Preston, had in turn been plundered from Bolton when they were in trouble. When you also consider the great delight they took in the same club's demise, they are a right bunch of hypocrites.

 

It seems to be getting better and better for them.......

 

Does this mean we have received all the money or just the latest instalment though?

 

I think all the money, because they’ll effectively be a new company coming out of admin

 

I think the full amount becomes due in these situations, otherwise the football debt wouldn't be repaid in full as is required.

 

That only applies to administration to get the share back in the league. We would not be preferential creditors in a liquidation unless we somehow managed to place some kind of charge over Moore

 

Yes, that got outlined further on in the dialogue. It seems to have been suggested incoming transfer monies are placed with the EFL to satisfy outstanding football creditors while in admin. So with the amount of monies coming in during their fire sale, I suspect most have been paid off now.

 

Wouldn't that depend on if they had received all the money or just the first installment? If Moore sold for £1m that might be £500k now, £500k next summer and the EFL would get the first £500k and the promise of the 2nd next summer from the buying club. That first £500k would be split between the clubs that Wigan owe pro-rata (same with the other transfers). So Wigan could have settled their debts by passing a portion of it onto other clubs who will pay in future.

 

I could be wrong about this, but I don't think that clubs buying players from clubs in administration are allowed to pay in installments.

By the time the next installment is due, the current Wigan Athletic company won't exist - there either won't be a club at all, or they'll be under new owners with a new company name.

Hence, buyers have to pay all the fee up front. Buying clubs would prefer to pay in installments, but they are getting (say) an £8million player for £2million, making it more palatable to pay the lot.

EDIT: I am not sure where I read that. It might well have been on here!

 

You could be right. Maybe I'm just thinking of the way transfers seem to work in normal times.

 

I cannot see them being saved. They are not a football town. Dave Whelan later kicked on their climb from non league & promotion with us in 79 to heights they were not destined to see. We don't know totally how our owners are going to turn out in the long term, after Patrick passed. Some worries with the current legal squabble, but we at least are not the basket case they have become.

I've had no sympathy for them from day one. They nicked Morsy & then Moore on credit effectively & have defaulted. Would be sad for the few real fans (not the deluded ones who see them as a premier league outfit), but for me not one tear will be shed if they go under. There are small well run clubs in L1 & L2 (the level they were at pre DW), that may well go under this year. I'll save my tears for them.

 

I hope you're right. I would love it if they went bust. It's looking more and more likely they won't, though.

 

I don't know what the likelihood of them being saved or not is, but the Ganaye consortium is still involved, and the administrators say there's a party that wants to exchange contracts next week.

Wigan didn't nick Morsy, he was there player, and from what I recall, our CEO screwed up on executing the permanent deal, which gave Paul Cook the opportunity to take him back. They also didn't default on any payments for Moore. He was sold and money paid as next instalment was due. I don't think transfer fees being structured in instalments is particularly rare.

 

They offered Morsy more money, after he'd done well with us on loan & when we tried to exercise the option he refused to sign. The deal was done, but he refused personal tems, because they'd offered more, (Moore), than they could afford.

They still owe us for Moore, don't they? They are now in administration, which legally means they cannot pay their creditors.

Your "facts" are wrong mate.

 

all I know as a “fact” is that we never had Morsy signed up on a permanent deal. My opinion on that is that he was never our player to nick.

As for the payments owed for Moore, I can only go off what has been reported. They hadn’t missed any instalments for Moore’s fee at the point of going into admin, and an instalment was due at some point this month. As of yesterday’s press conference, football debts had been paid. Likely we got our money for Moore at the point of them selling him.

 

Stendel linked with manager job.

https://www.dailymail.co.uk/sport/f...rankel-ready-complete-4m-deal-save-Wigan.html

 

They didn't get promotion with us in 79. That was their first season in the league and they finished 6th. Reading, Grimsby and Wimbledon were promoted with us. Their first promotion was in 1981–82.

 

The administrators said yesterday that the football debts had now been settled in full.