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Takeover News/Rumours

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Abu Dhabi Red and White said:
He chose where to live.
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It had nothing to do with his commute it was due to the fact he was having to do numerous jobs that he’d been promised he would be allowed to bring in personnel to do. The club was an absolute state, people don’t realise the blood, swear and tears Jack put into steadying the ship and starting to turn things around. Some of his back room staff were still around when PP took over and they were shocked by PP’s part time approach to the job.
 

Papa Smurf said:
It had nothing to do with his commute it was due to the fact he was having to do numerous jobs that he’d been promised he would be allowed to bring in personnel to do. The club was an absolute state, people don’t realise the blood, swear and tears Jack put into steadying the ship and starting to turn things around. Some of his back room staff were still around when PP took over and they were shocked by PP’s part time approach to the job.
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If he'd lived in Cleadon like his mate, he would have had much more time at home and wouldn't have needed to bleat about it.
 
garyswc said:
Oh yeah Donald could certainly try and borrow more although I'm not sure who from at the moment, even the government back covid loans have to be to viable businesses. The creditors would have to take whatever is on offer, within reason hence say £15m or whatever, certainly way less that the little fat liar is seeking.
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Not true. Under FA/EFL rules, football creditors must be paid in full, and other creditors have to be paid at least 35% of what is owed. That's the problem that's stopping Wigan from being sold.
 
garyswc said:
What are our footballing debts now approximately? If the £10m lost legal case is still o/s it wouldn't be great.
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Hard to say. The last figures are July 2019, and there weren't any coming forward from then; however, the timing of the year end means that there little or no accrual in there for player wages. If we were in a situation where they hadn't been paid, that would create a football creditor of up to £1m/month. Transfer creditors will be low hundreds of thousands at most. It's worth remembering that FPP will have a say in any insolvency proceedings, including, in all probability, choosing the administrator. They'd also be keen to see that any sale resulted in them being paid in full. VAT and employers NI look to be around £3m/month at 31/7/19. and other creditors around £5m. The costs of any admnistration would need to be met as well. I can easily see a selling price out of admin of £20-25m.
 
Grumpy Old Man said:
Hard to say. The last figures are July 2019, and there weren't any coming forward from then; however, the timing of the year end means that there little or no accrual in there for player wages. If we were in a situation where they hadn't been paid, that would create a football creditor of up to £1m/month. Transfer creditors will be low hundreds of thousands at most. It's worth remembering that FPP will have a say in any insolvency proceedings, including, in all probability, choosing the administrator. They'd also be keen to see that any sale resulted in them being paid in full. VAT and employers NI look to be around £3m/month at 31/7/19. and other creditors around £5m. The costs of any admnistration would need to be met as well. I can easily see a selling price out of admin of £20-25m.
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Thanks for your analysis. Vat will resumably be down in line with most of turnover, paye dropping in line with the overall payroll. If I was buying I'd still rather pay £20M or more to the creditors than £37M to Donald. Wigan's football debt must be significant, they've raised a fair sum from the player firesale too.
 
garyswc said:
Thanks for your analysis. Vat will resumably be down in line with most of turnover, paye dropping in line with the overall payroll. If I was buying I'd still rather pay £20M or more to the creditors than £37M to Donald. Wigan's football debt must be significant, they've raised a fair sum from the player firesale too.
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Not really - their administrators have made a £3m trading loss so far just keeping them going.
 
wigwams said:
No one at all has named a soul have they.
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Well there have been hints for one party (MG) who has now walked away for good. If they have then surely its okay to spill the beans. Its a bit like bullseye when they didn't win the main prize - "lets see what you could have won"
 
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