Pies in administration
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- Bruce Rioja
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Re: Pies in administration
Has Pornstar Lawrie not been seen 'pulling off' at Orrell yet? ![Smile :)](./images/smilies/icon_smile.gif)
![Smile :)](./images/smilies/icon_smile.gif)
May the bridges I burn light your way
- BWFC_Insane
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Re: Pies in administration
https://www.youtube.com/watch?v=Fxi3rY3ENXM
Worth a listen - the guy from Cowgills who was involved heavily in our administration talks about football finance and Wigan (and a little bit about Bolton's admin too).
Worth a listen - the guy from Cowgills who was involved heavily in our administration talks about football finance and Wigan (and a little bit about Bolton's admin too).
- Worthy4England
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Re: Pies in administration
I'm sick of hearing they have £20m in assets when they seem to have conjured away a £24m debt - they need to be held to account for that.
Re: Pies in administration
https://www.independent.co.uk/sport/foo ... 05456.htmlBruce Rioja wrote: ↑Thu Jul 02, 2020 6:16 amOne thing I've never understood (and have no particular wish to either) is that supporters of Wigan RL and supporters of Wigan FC have a passionate hatred of each other. I'm quite sure that if we had an RL side then I'd support them as well as BWFC.
- BWFC_Insane
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Re: Pies in administration
Their admins seem to say there is no record of any loan charge against the club. They certainly seem to be garnering more favourable treatment than we did.Worthy4England wrote: ↑Tue Jul 07, 2020 12:28 pmI'm sick of hearing they have £20m in assets when they seem to have conjured away a £24m debt - they need to be held to account for that.
The problem with the EFL is they punish clubs for owners failings - but I don't see why Wigan are any different to ourselves in terms of the rules broken and consequent action taken....
- Worthy4England
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Re: Pies in administration
There were 2 loans recorded in last Accounts. £10m from parent co and £10.7m from ultimate parent...How have they paid those off whilst making a £7m/£9m per annum loss? The debt seems to have just evaporated..
Re: Pies in administration
Does the club own it's assets? just a thought.Worthy4England wrote: ↑Tue Jul 07, 2020 3:23 pmThere were 2 loans recorded in last Accounts. £10m from parent co and £10.7m from ultimate parent...How have they paid those off whilst making a £7m/£9m per annum loss? The debt seems to have just evaporated..
- BWFC_Insane
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Re: Pies in administration
I agree - admins don't seem to think there are any secured debts.Worthy4England wrote: ↑Tue Jul 07, 2020 3:23 pmThere were 2 loans recorded in last Accounts. £10m from parent co and £10.7m from ultimate parent...How have they paid those off whilst making a £7m/£9m per annum loss? The debt seems to have just evaporated..
I would ask them (if I could) why the business was placed into admin in that case then since ALL that was required was running capital - lets say in worst case 10M which could have been raised (as admins are raising it now according to reports) via player sales and redundancies.I fear there is a piece of the jigsaw being missed.
- Worthy4England
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Re: Pies in administration
"Dear Ang, Thanks for paying £41m for us. Had our season finished on time, we'd have been asking Stanley to dip in his pocket so could you just see us right for another £7m/£10m until the end of June" - he probably shat it.BWFC_Insane wrote: ↑Tue Jul 07, 2020 3:38 pmI agree - admins don't seem to think there are any secured debts.Worthy4England wrote: ↑Tue Jul 07, 2020 3:23 pmThere were 2 loans recorded in last Accounts. £10m from parent co and £10.7m from ultimate parent...How have they paid those off whilst making a £7m/£9m per annum loss? The debt seems to have just evaporated..
I would ask them (if I could) why the business was placed into admin in that case then since ALL that was required was running capital - lets say in worst case 10M which could have been raised (as admins are raising it now according to reports) via player sales and redundancies.I fear there is a piece of the jigsaw being missed.
There's something does feel fishy about the whole affair, but really that much different than Anderson's "disappearing funding"? Not for me, they should be docked points, embargoed like every other poor set of bastards in the fcuked up world of football finance - and as I said in OP, hopefully saved - but I'm fine with a world of pain heading there way along the path to redemption.
- Worthy4England
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Re: Pies in administration
They wouldn't be assets if they didn't own them...if they don't, they're some other bugger's assets...Hoboh wrote: ↑Tue Jul 07, 2020 3:28 pmDoes the club own it's assets? just a thought.Worthy4England wrote: ↑Tue Jul 07, 2020 3:23 pmThere were 2 loans recorded in last Accounts. £10m from parent co and £10.7m from ultimate parent...How have they paid those off whilst making a £7m/£9m per annum loss? The debt seems to have just evaporated..
![Very Happy :D](./images/smilies/icon_biggrin.gif)
Re: Pies in administration
You know what I meanWorthy4England wrote: ↑Tue Jul 07, 2020 4:41 pmThey wouldn't be assets if they didn't own them...if they don't, they're some other bugger's assets...Hoboh wrote: ↑Tue Jul 07, 2020 3:28 pmDoes the club own it's assets? just a thought.Worthy4England wrote: ↑Tue Jul 07, 2020 3:23 pmThere were 2 loans recorded in last Accounts. £10m from parent co and £10.7m from ultimate parent...How have they paid those off whilst making a £7m/£9m per annum loss? The debt seems to have just evaporated..![]()
![Very Happy :D](./images/smilies/icon_biggrin.gif)
- Worthy4England
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Re: Pies in administration
True dat. I think the buildings are held by a connected company called IEC Wigan Properties or such like...Hoboh wrote: ↑Tue Jul 07, 2020 6:33 pmYou know what I meanWorthy4England wrote: ↑Tue Jul 07, 2020 4:41 pmThey wouldn't be assets if they didn't own them...if they don't, they're some other bugger's assets...Hoboh wrote: ↑Tue Jul 07, 2020 3:28 pmDoes the club own it's assets? just a thought.Worthy4England wrote: ↑Tue Jul 07, 2020 3:23 pmThere were 2 loans recorded in last Accounts. £10m from parent co and £10.7m from ultimate parent...How have they paid those off whilst making a £7m/£9m per annum loss? The debt seems to have just evaporated..![]()
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- BWFC_Insane
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Re: Pies in administration
That’s bob on for me. I have absolutely no idea why they think the rules shouldn’t apply here....Worthy4England wrote: ↑Tue Jul 07, 2020 4:33 pm"Dear Ang, Thanks for paying £41m for us. Had our season finished on time, we'd have been asking Stanley to dip in his pocket so could you just see us right for another £7m/£10m until the end of June" - he probably shat it.BWFC_Insane wrote: ↑Tue Jul 07, 2020 3:38 pmI agree - admins don't seem to think there are any secured debts.Worthy4England wrote: ↑Tue Jul 07, 2020 3:23 pmThere were 2 loans recorded in last Accounts. £10m from parent co and £10.7m from ultimate parent...How have they paid those off whilst making a £7m/£9m per annum loss? The debt seems to have just evaporated..
I would ask them (if I could) why the business was placed into admin in that case then since ALL that was required was running capital - lets say in worst case 10M which could have been raised (as admins are raising it now according to reports) via player sales and redundancies.I fear there is a piece of the jigsaw being missed.
There's something does feel fishy about the whole affair, but really that much different than Anderson's "disappearing funding"? Not for me, they should be docked points, embargoed like every other poor set of bastards in the fcuked up world of football finance - and as I said in OP, hopefully saved - but I'm fine with a world of pain heading there way along the path to redemption.
- officer_dibble
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Re: Pies in administration
Seven nil up at half time v Hull!
How did we end up with the strikers and shit stirrers in their position?![🤷♂️](//twemoji.maxcdn.com/2/svg/1f937-200d-2642-fe0f.svg)
How did we end up with the strikers and shit stirrers in their position?
- sonicthewhite
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Re: Pies in administration
Is it time to laugh at the Piemen yet? ![Laugh :laugh:](./images/smilies/laughat.gif)
![Laugh :laugh:](./images/smilies/laughat.gif)
Age and treachery will always overcome youth and skill!
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And the key to a result is a good
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- Worthy4England
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Re: Pies in administration
I guess it will be interesting with their appeal. Many of the Clubs previously docked 12 points for Admin, the fans would put it down to piss-poor ownership and managements. We all had doubts about whether Deano/Anderson had the necessary funds to run the Club against budget.
I'm not sure yet how Wigan's situation is much different than any other Club with a piss poor owner.
- Harry Genshaw
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Re: Pies in administration
I dont think it is. I get they'll have been shocked by admin coming out of nowhere but they have no grounds for appeal as far as I can see.Worthy4England wrote: ↑Thu Jul 23, 2020 10:27 amI guess it will be interesting with their appeal. Many of the Clubs previously docked 12 points for Admin, the fans would put it down to piss-poor ownership and managements. We all had doubts about whether Deano/Anderson had the necessary funds to run the Club against budget.
I'm not sure yet how Wigan's situation is much different than any other Club with a piss poor owner.
Suck it up yer tw*ts!
I realise I should be old enough to be above such pettiness but it seems I'm not
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Re: Pies in administration
In my neck of the woods I'm surrounded by Wiggin fans, all quite confident the EFL will over turn their 12 point deficit. They can get the best lawyers there are but it won't be over turned. The EFL are one ruthless organisation.
Now having been the target of these pie men when Bolton were going through such torment, these plastic Wiggin fans hate it, they get so angry when confronted by sarcasm.
Jelly and Cream anyone?
Now having been the target of these pie men when Bolton were going through such torment, these plastic Wiggin fans hate it, they get so angry when confronted by sarcasm.
Jelly and Cream anyone?
- Worthy4England
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Re: Pies in administration
I've been happily winding the fckrs up on Twitter all day. Been having a blast.
- officer_dibble
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Re: Pies in administration
Pie men are arguing force majeure aren’t they...I’m struggling with how it’s any different to any other c*nt owner slapping them in admin - no other teams ended up down that route as well.
Anyway, saudis have backed out of newcastle, there’s another potential owner for these moon men!!
Anyway, saudis have backed out of newcastle, there’s another potential owner for these moon men!!
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