“ Championship Club gone into administration “

1st of many sadly I think


WIGAN having been placed into administration, they will be hit with a 12-point deduction, a total that would see them drop to the foot of the table.

The EFL have confirmed that if Wigan finish the season in the bottom three, the deduction will come into effect next season, although if they finish outside the relegation zone this term, the 12 points will be taken off their final tally for the 2019/20 campaign.



Wigan go into administration four weeks after Hong Kong takeover

Championship club taken over by Next Leader Fund in June

Administrator wants to ensure fixtures played and buyer found


By David Conn

Wed 1 Jul 2020 12.30 BSTLast modified on Wed 1 Jul 2020 12.38 BST



Wigan Athletic have become the first professional club in England to fall into administration during the Covid-19 crisis, only four weeks after a Hong Kong-based consortium took over the Championship club, promising to secure its future.

Any insolvency event such as administration carries an automatic 12-point penalty, which would send Wigan bottom of the table from 14th, although the EFL has not yet confirmed the penalty will apply.

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Get Kieffer Moore quickly.

We needed him last night. Wins headers and bully defenders creating chances and openings for others.

Strange they went into administration now that they are safe in the league from relegation. Would they have done so if they were still in danger of relegation?

The English Swansea following their Welsh counterparts.

Get Kieffer Moore quickly.

We needed him last night. Wins headers and bully defenders creating chances and openings for others.

Strange they went into administration now that they are safe in the league from relegation. Would they have done so if they were still in danger of relegation?

The English Swansea following their Welsh counterparts.

wont they be deducted points?

If they were in such a perilous fianancal position why did they turn down our way over generous (in my opinion) offer of two million quid for Keifer Moore?

Get Kieffer Moore quickly.

We needed him last night. Wins headers and bully defenders creating chances and openings for others.

Strange they went into administration now that they are safe in the league from relegation. Would they have done so if they were still in danger of relegation?

The English Swansea following their Welsh counterparts.

wont they be deducted points?

According to the rules yes but there seems to be some small print where the EFL can defer it. I recall Leeds tried it on when they got relegated to League one with one game left of the season. The EFL made them take the points deduction into the next season.

If they were in such a perilous fianancal position why did they turn down our way over generous (in my opinion) offer of two million quid for Keifer Moore?

probably because pre-covid lockdown, the club was operating on a decent basis. the no fans in the stadium and months of no income has probably hit them harder than they would like.

i do recall the Whelans selling to a hong kong consortium i believe about 1/2 years ago, so i think they might of thought it would be easy money owning a club, and now realise they don't want to fund it anymore.

shame as these people seem to always pass the fit and proper test

Wigan go into administration four weeks after Hong Kong takeover

Championship club taken over by Next Leader Fund in June

Administrator wants to ensure fixtures played and buyer found


By David Conn

Wed 1 Jul 2020 12.30 BSTLast modified on Wed 1 Jul 2020 12.38 BST



Wigan Athletic have become the first professional club in England to fall into administration during the Covid-19 crisis, only four weeks after a Hong Kong-based consortium took over the Championship club, promising to secure its future.

Any insolvency event such as administration carries an automatic 12-point penalty, which would send Wigan bottom of the table from 14th, although the EFL has not yet confirmed the penalty will apply.


'
As recently as 24 June, a businessman based in Hong Kong, Wai Kay Au Yeung, who had initially been a minority shareholder in the consortium, Next Leader Fund (NLF), was registered as the owner of more than 75% of the club’s holding company.

The club stated on 4 June that under the EFL’s owners’ and directors’ test, the league had approved the sale to NLF by the owners since November 2018, International Entertainment Corporation (IEC), another Hong Kong-based, Cayman Islands-registered company, which owns a hotel and casino in the Philippines.

The EFL’s test and takeover process involves determining that a new owner has the money to buy a club and support it financially for at least the remainder of the season and the whole of the following season. However less than a month later and a week since Au Yeung was announced as the majority owner, the club has appointed the administrators Gerald Krasner and Paul Stanley, of insolvency practitioners Begbies Traynor.

In a statement, Krasner said: “Our immediate objectives are to ensure the club completes all its fixtures this season and to urgently find interested parties to save Wigan Athletic FC and the jobs of the people who work for the club.

“Obviously the suspension of the Championship season due to Covid-19 has had a significant impact on the recent fortunes of the club. Wigan Athletic has been a focal point and source of pride for the town since 1932 and anyone who is interested in buying this historic sporting institution should contact the joint administrators.”

Krasner told the Guardian he was still gathering full information about the club’s financial position and the cause of its collapse into administration, having only been approached about the appointment last week.

IEC bought Wigan from the sports and retail magnate Dave Whelan for £15.9m, but despite winning promotion from League One last season, the company said it was dissatisfied with the loss-making finances of the Championship and the UK’s uncertain economic prospects after Brexit. IEC sold to Au Yeung’s consortium for £17.5m, plus repayment of £24.36m the company had invested in the club.

In a Hong Kong stock exchange document setting out its reasons for selling, IEC cited the “unsatisfactory financial performance” of the club, due to the punishing economics of the Championship, and also mentioned the suspension of football because of the coronavirus pandemic and the impact of Brexit. It said Brexit “could have material long-term impact on the economy and the future growth of the UK which may damage investors’ confidence on the UK and also reduce local consumer spending, which could further deteriorate the performance of the [club]”.

Since buying the club the company said it sustained increases in players wages to £17.5m, from £10m in 2017-18, and sustained a £9m loss for the 13 months to 30 June last year.

Some pretty good players in that Wigan Athletic side. Would be a good opportunity for us to sign some players on the cheap. Really is a sad state of affairs to see at Wigan but, you fear this could be the first of many to go in to administration or suffer some form of punishment by FFP.

Wigan Athletic go into administration

The Latics are set to be slapped with a hefty points deduction which could see them relegated this season

By Ian Mitchelmore

1st July 2020


Championship club Wigan Athletic have gone into administration as a result of the impact of the coronavirus pandemic.

The Latics are currently 14th in the Championship table, eight points clear of the division's relegation zone.

However, having been placed into administration, they will be hit with a 12-point deduction, a total that would see them drop to the foot of the table.

The EFL have confirmed that if Wigan finish the season in the bottom three, the deduction will come into effect next season, although if they finish outside the relegation zone this term, the 12 points will be taken off their final tally for the 2019/20 campaign.

Paul Stanley, Gerald Krasner and Dean Watson from Begbies Traynor have been appointed as joint administrators for the DW Stadium outfit.


Mr Krasner said: "Our immediate objectives are to ensure the club completes all its fixtures this season and to urgently find interested parties to save Wigan Athletic FC and the jobs of the people who work for the club.

"Obviously the suspension of the Championship season due to Covid-19 has had a significant impact on the recent fortunes of the club.

"Wigan Athletic has been a focal point and source of pride for the town since 1932 and anyone who is interested in buying this historic sporting institution should contact the joint administrators directly."

An EFL statement read: "As a result of Wigan Athletic confirming they have entered into administration, the club will be subject to a 12-point deduction and, in accordance with EFL Regulations, the timing of the sporting sanction can only be determined once final league placings in the Championship are determined.

"If in the event the club is relegated by virtue of their final position following the conclusion of the Championship season, then the deduction will apply in League One in 2020/21.

"However, if the club is not in the relegation places following the final game of season, the sanction will be then be applied to their season 2019/20 total and final league standings amended as appropriate.

"The EFL is awaiting formal notification from the administrators and once the League has received this it will commence discussions with the relevant individuals with the aim of achieving a long-term future for the club."

Wigan become the first club in the EFL to be put into administration due to the Covid-19 outbreak.

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Must also remember theres talk of starting new season in Sept but cannot see fans in before xmas! so there will be clubs going into administration before then that's for sure as having fans is a must very soon ...

Get Kieffer Moore quickly.

We needed him last night. Wins headers and bully defenders creating chances and openings for others.

Strange they went into administration now that they are safe in the league from relegation. Would they have done so if they were still in danger of relegation?

The English Swansea following their Welsh counterparts.

wont they be deducted points?

Wigan having been placed into administration, they will be hit with a 12-point deduction, a total that would see them drop to the foot of the table.

The EFL have confirmed that if Wigan finish the season in the bottom three, the deduction will come into effect next season, although if they finish outside the relegation zone this term, the 12 points will be taken off their final tally for the 2019/20 campaign.

Wigan having been placed into administration, they will be hit with a 12-point deduction, a total that would see them drop to the foot of the table.

The EFL have confirmed that if Wigan finish the season in the bottom three, the deduction will come into effect next season, although if they finish outside the relegation zone this term, the 12 points will be taken off their final tally for the 2019/20 campaign.

You do not have the required permissions to view the files attached to this post.

I live in Wigan and, when the news broke this morning, it was a bit of a shock. Thats 3 clubs in the close vicinity (Bury, Bolton and Wigan) all who have had problems.

Wigan is, and always will be, a Rugby League Town. Supporter wise there is very little interest in a lower league Championship side and I fear they will struggle to get a buyer to take over.

There main asset is the DW Stadium - which is owned 85% by Wigan Athletic and 15% by the local Council. This could have consequences for the Wigan Warriors

Surely the Football League should get rid of this points deduction for clubs go into administration whilst Coronavirus is ongoing.
Many clubs have been hit hard, to no fault of their own.

I live in Wigan and, when the news broke this morning, it was a bit of a shock. Thats 3 clubs in the close vicinity (Bury, Bolton and Wigan) all who have had problems.

Wigan is, and always will be, a Rugby League Town. Supporter wise there is very little interest in a lower league Championship side and I fear they will struggle to get a buyer to take over.

There main asset is the DW Stadium - which is owned 85% by Wigan Athletic and 15% by the local Council. This could have consequences for the Wigan Warriors

It can’t be a coincidence surly, that the Current political situation in Hong Kong has had a massive influence With the owners “pulling the plug” and counting their losses,,, seems everyone connected to WAFC were take completely by surprise?

How Wigan keep going baffles me.

I was talking to the locals up there when played them.

They were saying then it's only a matter of time till they go bust.

Don't know his name but he was left back for them when we were up there.

Cracking player.

How Wigan keep going baffles me.

I was talking to the locals up there when played them.

They were saying then it's only a matter of time till they go bust.

Don't know his name but he was left back for them when we were up there.

Cracking player.

Antonee Robinson. A lot of clubs will be after him, we already have Bennett and Smudge at LB for next season so we will be well stocked. Wigan's Nathan Byrne is a decent right back, very attacking

just had a look at their forum, and someone on there has stated fans wrote to their local MP regarding the transfer of the club.

so the consortium who purchased of Whelan, seems to have sold it to another company in May, however the head of both those consortiums is the same guy. so its hard to guess whether or not they have taken the money out of the club and now tried to get rid of.

very strange goings on there atm.

Must also remember theres talk of starting new season in Sept but cannot see fans in before xmas! so there will be clubs going into administration before then that's for sure as having fans is a must very soon ...

I think you may well be right on that one, Allan. Many clubs fighting an uphill battle before COvid-19 and it's not going to be any easier since....

I hope English Wigan survive and come back to fight another day

Must also remember theres talk of starting new season in Sept but cannot see fans in before xmas! so there will be clubs going into administration before then that's for sure as having fans is a must very soon ...

I think you may well be right on that one, Allan. Many clubs fighting an uphill battle before COvid-19 and it's not going to be any easier since....

I hope English Wigan survive and come back to fight another day

Chris hopefully city got things right with cost cutting ? From what dalman as said think we are ok but the transfer landscape will change along with wages that's for sure... but the premier league parachute payments as got to stop or change because going to get a very lopsided league if promoted clubs have lots more millions when get relegated ! Salary cap is way forward but needs to be set for whole squad not on an individual players wages ..

just had a look at their forum, and someone on there has stated fans wrote to their local MP regarding the transfer of the club.

so the consortium who purchased of Whelan, seems to have sold it to another company in May, however the head of both those consortiums is the same guy. so its hard to guess whether or not they have taken the money out of the club and now tried to get rid of.

very strange goings on there atm.

It’s a good job we’ve got Tan an honourable man and our saviour despite some of our fans still not supporting him!

Most clubs particularly in leagues one and two rely mostly on their crowds for income. If crowds are not allowed back this year those leagues will be decimated maybe 10 to 20 clubs going into administration.It will change the face of British football completely. It's all very well calling for a ultra tight lockdown but the chickens are now coming home to roost.

Must also remember theres talk of starting new season in Sept but cannot see fans in before xmas! so there will be clubs going into administration before then that's for sure as having fans is a must very soon ...

I think you may well be right on that one, Allan. Many clubs fighting an uphill battle before COvid-19 and it's not going to be any easier since....

I hope English Wigan survive and come back to fight another day

Chris hopefully city got things right with cost cutting ? From what dalman as said think we are ok but the transfer landscape will change along with wages that's for sure... but the premier league parachute payments as got to stop or change because going to get a very lopsided league if promoted clubs have lots more millions when get relegated ! Salary cap is way forward but needs to be set for whole squad not on an individual players wages ..

stop parachute payments … bloody hell.. the whole point is to try and not make the premier league more lobsided than it already is..

Must also remember theres talk of starting new season in Sept but cannot see fans in before xmas! so there will be clubs going into administration before then that's for sure as having fans is a must very soon ...

I think you may well be right on that one, Allan. Many clubs fighting an uphill battle before COvid-19 and it's not going to be any easier since....

I hope English Wigan survive and come back to fight another day

Chris hopefully city got things right with cost cutting ? From what dalman as said think we are ok but the transfer landscape will change along with wages that's for sure... but the premier league parachute payments as got to stop or change because going to get a very lopsided league if promoted clubs have lots more millions when get relegated ! Salary cap is way forward but needs to be set for whole squad not on an individual players wages ..

stop parachute payments … bloody hell.. the whole point is to try and not make the premier league more lobsided than it already is..

Said stop it or change it otherwise championship will be a league of the haves and haves not particularly if a wages cap comes in which is on the cards! Can u imagine a cap of 50m for a squad... but a team relegated will get nearly that amount in one go so able to pay max for players while the have nots wont get near that amount in income... never stop premier being lopsided because it already is and that won't change no matter what happens.

Sad Times Ahead For Some Clubs

Must also remember theres talk of starting new season in Sept but cannot see fans in before xmas! so there will be clubs going into administration before then that's for sure as having fans is a must very soon ...

I think you may well be right on that one, Allan. Many clubs fighting an uphill battle before COvid-19 and it's not going to be any easier since....

I hope English Wigan survive and come back to fight another day

Chris hopefully city got things right with cost cutting ? From what dalman as said think we are ok but the transfer landscape will change along with wages that's for sure... but the premier league parachute payments as got to stop or change because going to get a very lopsided league if promoted clubs have lots more millions when get relegated ! Salary cap is way forward but needs to be set for whole squad not on an individual players wages ..

stop parachute payments … bloody hell.. the whole point is to try and not make the premier league more lobsided than it already is..

Said stop it or change it otherwise championship will be a league of the haves and haves not particularly if a wages cap comes in which is on the cards! Can u imagine a cap of 50m for a squad... but a team relegated will get nearly that amount in one go so able to pay max for players while the have nots wont get near that amount in income... never stop premier being lopsided because it already is and that won't change no matter what happens.

its there to give promoted teams some sort of a chance to compete , knowing that if they sign a few players on bigger contracts they can still afford to pay them if relegated { hence the word parachute } Allen... if anything the parachute payments are not big enough...you only have to look at how many clubs get relegated then struggle even with these payments..

Must also remember theres talk of starting new season in Sept but cannot see fans in before xmas! so there will be clubs going into administration before then that's for sure as having fans is a must very soon ...

I think you may well be right on that one, Allan. Many clubs fighting an uphill battle before COvid-19 and it's not going to be any easier since....

I hope English Wigan survive and come back to fight another day

Chris hopefully city got things right with cost cutting ? From what dalman as said think we are ok but the transfer landscape will change along with wages that's for sure... but the premier league parachute payments as got to stop or change because going to get a very lopsided league if promoted clubs have lots more millions when get relegated ! Salary cap is way forward but needs to be set for whole squad not on an individual players wages ..

stop parachute payments … bloody hell.. the whole point is to try and not make the premier league more lobsided than it already is..

Said stop it or change it otherwise championship will be a league of the haves and haves not particularly if a wages cap comes in which is on the cards! Can u imagine a cap of 50m for a squad... but a team relegated will get nearly that amount in one go so able to pay max for players while the have nots wont get near that amount in income... never stop premier being lopsided because it already is and that won't change no matter what happens.

its there to give promoted teams some sort of a chance to compete , knowing that if they sign a few players on bigger contracts they can still afford to pay them if relegated { hence the word parachute } Allen... if anything the parachute payments are not big enough...you only have to look at how many clubs get relegated then struggle even with these payments..

When it 1st came into being yes agree but now and for a few years players have two contracts one for championship wages one for premier league wages! So need for these
payments are not valid now, clubs need to spend responsibly not rely on parachute paymentsto bankroll promotion... Rick Perry (efl chairman) wants them gone because out of 460m given to efl by premier league around 180m is given in parachute payments to relegated clubs? Now that is distorting football finances ..
Wigan are in danger of going out business if not sold soon and around 40 clubs threatened because of corvid... like said money needs to be spread out better than giving a 3rd of it to just around 9 clubs in championship

Must also remember theres talk of starting new season in Sept but cannot see fans in before xmas! so there will be clubs going into administration before then that's for sure as having fans is a must very soon ...

I think you may well be right on that one, Allan. Many clubs fighting an uphill battle before COvid-19 and it's not going to be any easier since....

I hope English Wigan survive and come back to fight another day

Chris hopefully city got things right with cost cutting ? From what dalman as said think we are ok but the transfer landscape will change along with wages that's for sure... but the premier league parachute payments as got to stop or change because going to get a very lopsided league if promoted clubs have lots more millions when get relegated ! Salary cap is way forward but needs to be set for whole squad not on an individual players wages ..

stop parachute payments … bloody hell.. the whole point is to try and not make the premier league more lobsided than it already is..

Said stop it or change it otherwise championship will be a league of the haves and haves not particularly if a wages cap comes in which is on the cards! Can u imagine a cap of 50m for a squad... but a team relegated will get nearly that amount in one go so able to pay max for players while the have nots wont get near that amount in income... never stop premier being lopsided because it already is and that won't change no matter what happens.

its there to give promoted teams some sort of a chance to compete , knowing that if they sign a few players on bigger contracts they can still afford to pay them if relegated { hence the word parachute } Allen... if anything the parachute payments are not big enough...you only have to look at how many clubs get relegated then struggle even with these payments..

When it 1st came into being yes agree but now and for a few years players have two contracts one for championship wages one for premier league wages! So need for these
payments are not valid now, clubs need to spend responsibly not rely on parachute paymentsto bankroll promotion... Rick Perry (efl chairman) wants them gone because out of 460m given to efl by premier league around 180m is given in parachute payments to relegated clubs? Now that is distorting football finances ..
Wigan are in danger of going out business if not sold soon and around 40 clubs threatened because of corvid... like said money needs to be spread out better than giving a 3rd of it to just around 9 clubs in championship

please stop and think....players have what ever contract they have negotiated mate not this standard 2 contracts.. its why relegated clubs have big holes in their budget... yes rick parry says.. whats his stance suppose to be ? the 9 clubs are also the 9 most likely to go bust without the payments.. besides a big chunk of the money does spread out.. we could afford reid, smithies, murphy etc along with their wage demands because we knew we would not just get the PL money but should we go down there would still be money to pay them..the clubs we bought them off them get money in transfer fees..? and on a purely Cardiff note...no parachute payment this year we would probably be gone.,..
Swansea 100% would have..

I dread to think who will be next, I sure hope we are ok in this regards.

Rumours doing the rounds up here in Wigan is that the purchase of the club was all part of a betting coup.

It has been suggested that bets have been placed in the Philippines that Wigan would get relegated. High Odds given they were mid-table.

So club is purchased very cheaply (£15m) and within a month owners put the club into Administration with 12 points deduction and almost certain relegation - winning the bet

It seems far fetched I know, and Im certainly not saying its true, but it does pose one very important question - "How on earth did the EFL approve these guys under the Fit and Proper Persons Test"