The official Wigan are shit thread

[Popeye doyle]

5 hours ago, Dr Faustus said:

Still pending approval 

I'm calling you out as Nat Deeley, a long time lurker first time poster who posted this morning and mentioned us.

[Tonge moor green jacket]

13 hours ago, victor meldrew said:

the fickle fuckers shouldn't have deserted in the first place

Aye, but it's par for the course unfortunately. 

[Dr Faustus]

46 minutes ago, Popeye doyle said:

I'm calling you out as Nat Deeley, a long time lurker first time poster who posted this morning and mentioned us.

Who the Fuck is Nat Deeley? 

[Popeye doyle]

2 minutes ago, Dr Faustus said:

Who the Fuck is Nat Deeley? 

Brand new poster on LS, first post this morning.

[Dr Faustus]

Just now, Popeye doyle said:

Brand new poster on LS, first post this morning.

Ah, OK

[Popeye doyle]

The fire sale of players looks like continuing.

[Rudy]

Kin’ell Nixon 

Who could have imagined a club in administration needs money because their bills and debts are too high and no one will buy them in such a state.

Why do people entertain this charlatan 

[Duck Egg]

Apart from their wage commitments what debts do they have. Anyone know?

[Marc505]

DW going into admin 

[tomski]

30 minutes ago, Duck Egg said:

Apart from their wage commitments what debts do they have. Anyone know?

All start stacking up when you don’t pay owt or mortgage future kit deals or stadium naming rights. A bloke whose name escapes me should be an expert in the subject matter. He’s was very sweaty

[Lt. Aldo Raine]

1 hour ago, Rudy said:

Kin’ell Nixon 

Who could have imagined a club in administration needs money because their bills and debts are too high and no one will buy them in such a state.

Why do people entertain this charlatan 

To be fair to him, I think he's just stating the obvious to people who haven't quite grasped what this all means.

[Lt. Aldo Raine]

46 minutes ago, Duck Egg said:

Apart from their wage commitments what debts do they have. Anyone know?

I think there's been some suggestion that there are installments on transfer fees due.

[masi 51]

Just been on spyk....I do not know if its someone of here [natdeeley]  But i really hope its a genuine wigan fan who just wrote i have just read whelans bio and i did not know he broke his leg in the cup final. No even wiganers are not so numb

[Benny The Ball]

1 hour ago, Duck Egg said:

Apart from their wage commitments what debts do they have. Anyone know?

From what I have read  they owe about £6 million to unsecured creditors ( largest being Inland Revenue due about £2.5 million  )

and potentially a further £25 million "loaned" via the Far Eastern owners which the administrators are investigating 

If the £25 million far eastern loans are payable then non football creditors would total about £32 million and  someone would have to come up with about £8 million just to satisfy the football leagues  25 % ruling otherwise they get a 15 point deduction next season.

If its not payable then a buyer only has to find 25% of  £6 million ie  £1.5 million - that seems to be the basis on which they are working as the offer they accepted from the bidder who walked away last week paid all football creditors and the £1.5 million to non football creditors 

Not sure what football creditors are - someone else may know  ( Guess £6-£8 million ) ? 

 

[Duck Egg]

45 minutes ago, Benny The Ball said:

From what I have read  they owe about £6 million to unsecured creditors ( largest being Inland Revenue due about £2.5 million  )

and potentially a further £25 million "loaned" via the Far Eastern owners which the administrators are investigating 

If the £25 million far eastern loans are payable then non football creditors would total about £32 million and  someone would have to come up with about £8 million just to satisfy the football leagues  25 % ruling otherwise they get a 15 point deduction next season.

If its not payable then a buyer only has to find 25% of  £6 million ie  £1.5 million - that seems to be the basis on which they are working as the offer they accepted from the bidder who walked away last week paid all football creditors and the £1.5 million to non football creditors 

Not sure what football creditors are - someone else may know  ( Guess £6-£8 million ) ? 

 

Interesting, cheers.

If the loan is counted towards the repayable debt, they really are fecked.  If not they should be ok but one potential lifeline has disappeared with the news about DW sports today.

Edited August 3, 2020 by Duck Egg

[birch-chorley]

What are the assets worth though? 

Based on those numbers above you could pay £8m towards non football debts and a further £6m to football so £14m in total 

Doesn’t seem such a high price to pay if it includes the Stadium, Euxton training ground etc - Especially as they have some players that could fetch reasonable money (didn’t they get offered millions for Robinson?) 

Appreciate the football debt will start to rack up in the form of wage deficit each month, you’d expect player sales to help reduce that over the coming months 

Seem to recall anyone buying us needed £25m - £35m with no decent footballing assets left, although monthly losses were a lot smaller (the debt wasn’t growing) 

Not sure it’s quite as bleak as our situation was as things stand 

[Escobarp]

3 minutes ago, birch-chorley said:

What are the assets worth though? 

Based on those numbers above you could pay £8m towards non football debts and a further £6m to football so £14m in total 

Doesn’t seem such a high price to pay if it includes the Stadium, Euxton training ground etc - Especially as they have some players that could fetch reasonable money (didn’t they get offered millions for Robinson?) 

Appreciate the football debt will start to rack up in the form of wage deficit each month, you’d expect player sales to help reduce that over the coming months 

Seem to recall anyone buying us needed £25m - £35m with no decent footballing assets left, although monthly losses were a lot smaller (the debt wasn’t growing) 

Not sure it’s quite as bleak as our situation was as things stand 

The money to the owner is secured I believe so that needs repaying or he beat the fixed assets being the ground and euxton there is no easy way out of this 

[Casino]

Euxton, 2.5 they paid

They need to sell

Esco says the ground isn't theirs

 

Its bleak. Which is nice

[birch-chorley]

Just now, Escobarp said:

The money to the owner is secured I believe so that needs repaying or he beat the fixed assets being the ground and euxton there is no easy way out of this 

Ah ok, that’s the big one then 

At least it was ED family who had the charge on our assets, not some ghost from China 

[Escobarp]

4 minutes ago, birch-chorley said:

Ah ok, that’s the big one then 

At least it was ED family who had the charge on our assets, not some ghost from China 

Nobody is lending anyone 25m unsecured. 

[Popeye doyle]

They've also got outstanding payments/instalments of transfer fees for players purchased which they still owe. 

[Burnden Pies]

28 minutes ago, Popeye doyle said:

They've also got outstanding payments/instalments of transfer fees for players purchased which they still owe. 

This thread just gets better and better!

[RONNIE PHILLIPS]

1 hour ago, Popeye doyle said:

They've also got outstanding payments/instalments of transfer fees for players purchased which they still owe. 

Who needs viagra when you can read this thread 😋

[Tonge moor green jacket]

26 minutes ago, RONNIE PHILLIPS said:

Who needs viagra when you can read this thread 😋

Just one big cock up.

[MancWanderer]

5 hours ago, Mr Grey said:

Nice, its fantastique as they say in France.

Oh come on....

C’est fantastique

HTH 😀