Lad on YT talks about Wigan scandal

Discussion in 'Bulletin Board' started by AthersleyRed, Jul 27, 2020.

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  1. AthersleyRed

    AthersleyRed Well-Known Member

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    Some.. interesting points.
     
    AthersleyRed, Jul 27, 2020
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  2. Old

    Old Gimmer Well-Known Member

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    Young man shouting his mouth off about things he doesn't appear to understand. I'm pretty sure the betting thing has already been discredited, but he appears to be saying that the bet(s) were made in casinos in the Philippines. Not sure how that works to be honest.
     
    Old Gimmer, Jul 27, 2020
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  3. Terry Nutkins

    Terry Nutkins Well-Known Member

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    How many Islands are there that aren't off shore?
     
    Terry Nutkins, Jul 27, 2020
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  4. man

    mansfield_red Well-Known Member

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    How big must the bet have been to compensate for the fact that his asset would lose millions by being relegated? I can't see a bookies in the Philippines accepting a one off bet for millions, it just sounds ********
     
    mansfield_red, Jul 27, 2020
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  5. Mid

    Mido Well-Known Member

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    ‘Hi sir, would you like to place your bet on red or black?’
    ‘I’ll have £20m on Wigan Athletic to get relegated from the English Championship please’
    ‘Erm, ok’
     
    Mido, Jul 27, 2020
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  6. Redhelen

    Redhelen Well-Known Member

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    Still dont know why they did do it though?
     
    Redhelen, Jul 27, 2020
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  7. Sim

    Simon De Montforte Well-Known Member

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    Showing my age here. When I saw that title, I immediately thought Yorkshire Television.
     
    Simon De Montforte, Jul 27, 2020
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  8. Gimson&theBarnsleys

    Gimson&theBarnsleys Well-Known Member

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    So did I.:D
     
    Gimson&theBarnsleys, Jul 27, 2020
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  9. Burgundy Red

    Burgundy Red Well-Known Member

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    So did I and I felt quite clever having worked it out.
     
    Burgundy Red, Jul 27, 2020
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  10. Old

    Old Gimmer Well-Known Member

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    They did it to rid themselves of upcoming debt.
     
    Old Gimmer, Jul 27, 2020
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  11. MarioKempes

    MarioKempes Well-Known Member

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    Me too. :D
     
    MarioKempes, Jul 27, 2020
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  12. Redhelen

    Redhelen Well-Known Member

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    But why not go into admin as the old owners?
     
    Redhelen, Jul 27, 2020
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  13. Old

    Old Gimmer Well-Known Member

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    I guess that’s what all the fuss is about. But, as far as we know, nothing illegal happened.
     
    Old Gimmer, Jul 27, 2020
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  14. Don

    Donny-Red Well-Known Member

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    Isn’t the scam...
    Tom Dick and Harry sell the club to a ‘new’ consortium led by Tom and Dick Enterprises (who have used a loan to fund the deal). As soon as the money is paid to Tom Dick and Harry the new firm goes into administration.

    Tom Dick and Harry have managed to extricate their capital leaving the new company in debt to the bank and holding all the clubs debt too.

    Or have I misunderstood?
     
    Donny-Red, Jul 27, 2020
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  15. Young Nudger

    Young Nudger Well-Known Member

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    If a smidge of the video is true.
    Then it’s not Wigan that should be in the dock - it’s the EFL.
     
    Young Nudger, Jul 27, 2020
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  16. stairfoot.red

    stairfoot.red Well-Known Member

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    There are far too many variables that were out of Wigan's control for it to make any sense that this was a betting scam they couldn't know that Luton and Barnsley would pick up enough points to make sure Wigan went down. The risk of the bet going wrong were massive and if it had they would have lost the stake and the club it's complete ******** if you ask me.
     
    stairfoot.red, Jul 27, 2020
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  17. Arc

    Archerfield Well-Known Member

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    Just one flaw in a very flakey piece. If Stanley Choi owns the casino then the bet placed there is with himself.

    The main point that appears to be missing and is key is that by creating a loan to the new company, the owner becomes a secured rather than unsecured creditor and would get a greater recovery in administration/insolvency.

    Wigan have only been viable with the support of their parent company, this restructure appears to have been done to maximise the recovery to the owner without putting further capital in to the business.
     
    Archerfield, Jul 27, 2020
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  18. Mrs

    MrsHallsToffeerolls Well-Known Member

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    I thought he`d missed the s off and it was someone on a Youth Training Scheme.
     
    MrsHallsToffeerolls, Jul 28, 2020
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  19. Marlon

    Marlon Well-Known Member

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    I think the problem is not that he’s bet but lots of people have bet against Wigan going down with favourable odds whilst in the relegation places .
    The recovery was going to cost him a lot of money so his actions scuppered the bets allegedly .
     
    Marlon, Jul 28, 2020
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  20. RedStriker

    RedStriker Well-Known Member

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    I thought it were Yorkshire Traction
     
    RedStriker, Jul 28, 2020
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