Pies in administration

There ARE other teams(we'd have no-one to play otherwise) and here's where all-comers can discuss the wider world of football......

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Bruce Rioja
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Re: Pies in administration

Post by Bruce Rioja » Mon Jul 06, 2020 7:08 pm

Has Pornstar Lawrie not been seen 'pulling off' at Orrell yet? :)
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Re: Pies in administration

Post by BWFC_Insane » Tue Jul 07, 2020 12:09 pm

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).

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Re: Pies in administration

Post by Worthy4England » Tue Jul 07, 2020 12:28 pm

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.

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Re: Pies in administration

Post by Hoboh » Tue Jul 07, 2020 12:45 pm

Bruce Rioja wrote:
Thu Jul 02, 2020 6:16 am
One 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.
https://www.independent.co.uk/sport/foo ... 05456.html

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Re: Pies in administration

Post by BWFC_Insane » Tue Jul 07, 2020 3:01 pm

Worthy4England wrote:
Tue Jul 07, 2020 12:28 pm
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.
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.

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....

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Re: Pies in administration

Post by Worthy4England » Tue Jul 07, 2020 3:23 pm

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..

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Re: Pies in administration

Post by Hoboh » Tue Jul 07, 2020 3:28 pm

Worthy4England wrote:
Tue Jul 07, 2020 3:23 pm
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..
Does the club own it's assets? just a thought.

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Re: Pies in administration

Post by BWFC_Insane » Tue Jul 07, 2020 3:38 pm

Worthy4England wrote:
Tue Jul 07, 2020 3:23 pm
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..
I agree - admins don't seem to think there are any secured debts.

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.

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Re: Pies in administration

Post by Worthy4England » Tue Jul 07, 2020 4:33 pm

BWFC_Insane wrote:
Tue Jul 07, 2020 3:38 pm
Worthy4England wrote:
Tue Jul 07, 2020 3:23 pm
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..
I agree - admins don't seem to think there are any secured debts.

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.
"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.

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.

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Re: Pies in administration

Post by Worthy4England » Tue Jul 07, 2020 4:41 pm

Hoboh wrote:
Tue Jul 07, 2020 3:28 pm
Worthy4England wrote:
Tue Jul 07, 2020 3:23 pm
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..
Does the club own it's assets? just a thought.
They wouldn't be assets if they didn't own them...if they don't, they're some other bugger's assets... :D

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Re: Pies in administration

Post by Hoboh » Tue Jul 07, 2020 6:33 pm

Worthy4England wrote:
Tue Jul 07, 2020 4:41 pm
Hoboh wrote:
Tue Jul 07, 2020 3:28 pm
Worthy4England wrote:
Tue Jul 07, 2020 3:23 pm
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..
Does the club own it's assets? just a thought.
They wouldn't be assets if they didn't own them...if they don't, they're some other bugger's assets... :D
You know what I mean :D

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Re: Pies in administration

Post by Worthy4England » Tue Jul 07, 2020 7:03 pm

Hoboh wrote:
Tue Jul 07, 2020 6:33 pm
Worthy4England wrote:
Tue Jul 07, 2020 4:41 pm
Hoboh wrote:
Tue Jul 07, 2020 3:28 pm
Worthy4England wrote:
Tue Jul 07, 2020 3:23 pm
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..
Does the club own it's assets? just a thought.
They wouldn't be assets if they didn't own them...if they don't, they're some other bugger's assets... :D
You know what I mean :D
True dat. I think the buildings are held by a connected company called IEC Wigan Properties or such like...

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Re: Pies in administration

Post by BWFC_Insane » Tue Jul 07, 2020 9:51 pm

Worthy4England wrote:
Tue Jul 07, 2020 4:33 pm
BWFC_Insane wrote:
Tue Jul 07, 2020 3:38 pm
Worthy4England wrote:
Tue Jul 07, 2020 3:23 pm
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..
I agree - admins don't seem to think there are any secured debts.

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.
"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.

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.
That’s bob on for me. I have absolutely no idea why they think the rules shouldn’t apply here....

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Re: Pies in administration

Post by officer_dibble » Tue Jul 14, 2020 7:08 pm

Seven nil up at half time v Hull!

How did we end up with the strikers and shit stirrers in their position? 🤷‍♂️

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Re: Pies in administration

Post by sonicthewhite » Wed Jul 22, 2020 10:42 pm

Is it time to laugh at the Piemen yet? :laugh:
Age and treachery will always overcome youth and skill!

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Re: Pies in administration

Post by Worthy4England » Thu Jul 23, 2020 10:27 am

sonicthewhite wrote:
Wed Jul 22, 2020 10:42 pm
Is it time to laugh at the Piemen yet? :laugh:
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.

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Re: Pies in administration

Post by Harry Genshaw » Thu Jul 23, 2020 1:25 pm

Worthy4England wrote:
Thu Jul 23, 2020 10:27 am
sonicthewhite wrote:
Wed Jul 22, 2020 10:42 pm
Is it time to laugh at the Piemen yet? :laugh:
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.
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.

Suck it up yer tw*ts!
I realise I should be old enough to be above such pettiness but it seems I'm not
"Get your feet off the furniture you Oxbridge tw*t. You're not on a feckin punt now you know"

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Re: Pies in administration

Post by Athertonian » Thu Jul 23, 2020 2:01 pm

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?

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Re: Pies in administration

Post by Worthy4England » Thu Jul 23, 2020 5:20 pm

I've been happily winding the fckrs up on Twitter all day. Been having a blast.

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Re: Pies in administration

Post by officer_dibble » Thu Jul 30, 2020 8:09 pm

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!!

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