[Football] Wigan go into adminsitration

[Miami Seagull]

We cant continually just blame the fit and proper test. Its only a part of the process and is there to determine whether there is anything obviously bad about the potential new owners. If there is no history of malfeasance and they have funds then they will pass the test. The test cannot possibly be expected to determine whether that the intention of the buyer is as in this case, that would be impossible. The previous owners are more to blame for agreeing to sell to these jokers. They would have had contact over a far longer period and will have done their own checks on the buyers. Unfortunately for Wigan the rules are clear and others have been punished in the same way.

 

[Lower West Stander]

I'm nowhere as well versed as EP in football finance (no one is I guess) but my job is corporate credit analysis so a lot of my time is spent forensically looking at accounts.

I've said it before but you could drive a bus through most football club accounts and compliance or non compliance is based on very technical accountancy definitions. Most clubs are not financially viable without owners with deep pockets. You hear Albion is debt free - well it is but only because the money TB has but in is not accounted for as debt.

You could make an argument that pretty much any club (with the exception of Man U and possibly a couple of others) is insolvent given player and other operating costs. Any owner could do what Wigan's dodgy owners have at any time - its just some care more than others.

Its actually Man City who annoy me more. No one thinks their accounts are real but deep pocketed owners have thrown the financial kitchen sink at defending the club because the potential gain is worse than the cost. And they get away with it on a technicality.

The whole thing is a joke and I hope the plight of Wigan will focus a few minds on this. They just happen to be the unlucky club....

 

[Sheebo]

Ye agree.. would feel sorry for Barnsley and their coach though.

https://www.youtube.com/watch?v=WxJeos7V7ZM

What a guy! Now don’t want either to go down!

 

[nickbrighton]

Manager resigned, i really feel for Wigan fans and the clubs employees. This could end the club :-(

https://www.bbc.co.uk/sport/football/53613205

 

[Jimmehh]

Manager resigned, i really feel for Wigan fans and the clubs employees. This could end the club :-(

https://www.bbc.co.uk/sport/football/53613205

I am interested in knowing how much of this is because by him resigning, he saves the club money by not paying him/sacking him...

Feel like he’s a good guy and they would welcome him back once a new owner has been found (if they decided they wanted him back of course)


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[The Andy Naylor Fan Club]

Lost their appeal....
https://www.bbc.co.uk/sport/football/53649840

Wigan's relegation to League One has been confirmed after they lost their appeal against a 12-point deduction for going into administration.

Wigan appealed against the punishment on the grounds of 'force majeure'.

But an independent arbitration panel ruled against them, meaning Barnsley will stay in the Championship.

The Latics went into administration on 1 July when their new Hong Kong-based owners conceded they could not support the club financially.

Force majeure events are usually defined as certain acts, events or circumstances beyond the control of the involved parties, such as natural disasters, war or a pandemic.

The timing of Wigan going into administration meant their penalty was applied following their 1-1 draw with Fulham on the final day of the season.

 

[Barry Izbak]

Absolute disgrace.
What sort of independent panel could possibly endorse this disgraceful decision?

 

[maltaseagull]

Absolute disgrace.
What sort of independent panel could possibly endorse this disgraceful decision?

What is especially harsh is that in a normal season, going into administration on July 1st would get punished next season. Massive cheated two years ago and get punished next season.

 

[Sirnormangall]

I feel the only thing the EFL excels at is bayoneting the wounded.

 

[Swansman]

In trouble again. Economy doesn't seem to be Wigans strongest side.

 

[Springal]

Another ‘fake’ owner relying on secret money it appears. They don’t even know who really owns / funds their club.

And Wigan are really a league one club