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Discussion in 'Bulletin Board' started by juttyp, Jul 23, 2020.

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  1. icer

    icer Well-Known Member

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    Thats how i understand it. Part of the appeal seems to anchor on the EFL not doing their due diligence in granting approval as fit and proper owners. This in my mind shouldn't negate the 12pt admin rule. They are in admin irrespective of how they got there or who is to blame.
     
    icer, Jul 23, 2020
    #21
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  2. Gud

    GudjonFan Well-Known Member

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    I think it was Morsy himself that changed his mind. Whatever was agreed between the two clubs, you still can’t force someone to sign if they don’t want to.

    He obviously did fantastically well with us and when Wigan changed their manager, he wanted to keep Morsy. They definitely gave him a new contract after previously stating they needed to cut costs. I remember at the time realising what we were going to be up against in this league.
     
    GudjonFan, Jul 23, 2020
    #22
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  3. thetykester

    thetykester Well-Known Member

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    No they have not, I know that.
     
    thetykester, Jul 23, 2020
    #23
  4. icer

    icer Well-Known Member

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    I
    My understanding is same as Marlon, but i thought the re-negotiation (attempt by us) was on his salary and not the fee, hence he declined our 'new' offer
     
    icer, Jul 23, 2020
    #24
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  5. Marlon

    Marlon Well-Known Member

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    No it was definitely our end which gave Wigan the right to re approach Morsy with better terms .
     
    Marlon, Jul 23, 2020
    #25
  6. Red

    Redblueunwhite Well-Known Member

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    All good fair points on here so the club will surely put them forward?
     
    Redblueunwhite, Jul 23, 2020
    #26
  7. Gud

    GudjonFan Well-Known Member

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    Ok. Maybe I mis-remembered.
     
    GudjonFan, Jul 23, 2020
    #27
  8. Marlon

    Marlon Well-Known Member

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    Could well be as it’s only on the grapevine I heard but the deal was done if no interference and I think whatever it were the terms for Wigan or Morsy were tampered with making the original deal re negotiable and scrap the original terms and Cryne was furious.
     
    Marlon, Jul 23, 2020
    #28
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  9. NathanBFC94

    NathanBFC94 Well-Known Member

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    I am not sure to be honest, I got those figures from the Going up Going down podcast, they had a sports writer on who had done some digging into the Wigan situation. He said those were the annual losses for the club and have been for the last few seasons.
     
    NathanBFC94, Jul 23, 2020
    #29
  10. Jimmy viz

    Jimmy viz Well-Known Member

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    money losses of 14 million in 5 years. 9 million loss in 18/19 season
     
    Jimmy viz, Jul 23, 2020
    #30
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  11. dreamboy3000

    dreamboy3000 Well-Known Member

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    2018-19 was a loss of 9.2 million.......

    https://wiganathletic.com/news/2020...al-results-for-the-period-ended-30-June-2019/

    2017-18 was a loss of 7.7 million......

    https://wiganathletic.com/news/2019...ncial-results-for-the-year-ended-31-may-2018/

    They are twenty million in debt, in the last financial year debt they made an increase of 1.5 million debt compared to how much they lost the season before (9.2 from 7.7) and haven't made a profit in any of their last eight seasons despite a number of them having premier league parachute payments. No way can a club so badly run over the past decade blame a few poor months for their situation when no other club has gone in to admin to help them prove their point......

    https://financialfootballnews.com/wigan-athletic-fcs-2019-finances-changing-of-guard/
     
    dreamboy3000, Jul 23, 2020
    #31
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  12. Tykeored

    Tykeored Well-Known Member

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    I wouldn’t count on it
     
    Tykeored, Jul 23, 2020
    #32
  13. Arc

    Archerfield Well-Known Member

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    Just to give a brief overview of Wigan’s finances for the year to June 2019.

    Turnover £11.5m, wages £19.4m, operating loss £16.2m. Player sales profit £7m. Net loss £9.2m.

    £20m of loans due the parent company in the next 12 months and cumulative losses of £66m.
     
    Archerfield, Jul 23, 2020
    #33
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  14. Jimmy viz

    Jimmy viz Well-Known Member

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    actual losses

    -2297228
    +4256253
    -7668613
    -9222656
     
    Jimmy viz, Jul 23, 2020
    #34
  15. Barnsley Chopin

    Barnsley Chopin Well-Known Member

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    Wow! I know people aren't happy with our owners - but there for the grace etc.
     
    Barnsley Chopin, Jul 23, 2020
    #35
  16. dreamboy3000

    dreamboy3000 Well-Known Member

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    Also look at the link I posted and see how heavily they rely on broadcast revenue and how little money they make from people paying to watch the games in the stadium. League 1 is going to screw them and could easily see them do a Bolton and drop to division four.
     
    dreamboy3000, Jul 23, 2020
    #36
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  17. RedInBlackrod

    RedInBlackrod Active Member

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    Quote from BBC interview with Former Wigan chairman David Sharpe, who sold the club in 2018
    Sharpe said the "only reason" the Whelan family sold Wigan to the Hong Kong-based company International Entertainment Corporation was because they did not see the "scary" financial situation improving.

    "The Championship is not financially sustainable, it's a bubble waiting to burst," he said.

    "It can't continue if the model is just having enough billionaire owners to keep funding it - that's a strange, crazy model because there are only so many people you can attract."

    Sharpe, who took over Wigan from grandfather Dave Whelan in 2015, said the family were putting in "nearly £1m a month just to keep it going" despite having the fourth-lowest wage bill in the Championship.

    https://www.bbc.co.uk/sport/football/50674331
     
    RedInBlackrod, Jul 23, 2020
    #37
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  18. Fon

    Fonzie Well-Known Member

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    This ***** doing the interview is mortified Wigan have gone down.
     
    Fonzie, Jul 23, 2020
    #38
  19. icer

    icer Well-Known Member

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    but no visibility of the balance sheet of course
     
    icer, Jul 23, 2020
    #39
  20. Jimmy viz

    Jimmy viz Well-Known Member

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    Of course. Apparently the grand plan was to cover the 9 million loss by selling a player called Robinson for 10
    Million. Seat of the pants economics
     
    Jimmy viz, Jul 23, 2020
    #40
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