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Wigan Go Into Administration (merged)

Keepitgreen

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It's a very strange take over. It was only completed on the 4th June with the new owners promising to secure the club's future. 27 days later they put it into administration. They knew the club were losing £9m a year, they knew we had a pandemic and they knew it could be quite a while before fans are allowed back into stadiums. Something doesn't smell right.
 
Keepitgreen":1qg6vr93 said:
It's a very strange take over. It was only completed on the 4th June with the new owners promising to secure the club's future. 27 days later they put it into administration. They knew the club were losing £9m a year, they knew we had a pandemic and they knew it could be quite a while before fans are allowed back into stadiums. Something doesn't smell right.

Probably as simple as the real estate value being greater than the price they paid for the club. Cynical perhaps, but it happened at Brighton not so long ago.
 

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mervyn":2bhclfed said:
Keepitgreen":2bhclfed said:
It's a very strange take over. It was only completed on the 4th June with the new owners promising to secure the club's future. 27 days later they put it into administration. They knew the club were losing £9m a year, they knew we had a pandemic and they knew it could be quite a while before fans are allowed back into stadiums. Something doesn't smell right.

Probably as simple as the real estate value being greater than the price they paid for the club. Cynical perhaps, but it happened at Brighton not so long ago.

Still think that was behind the loss of Bury too. The various covenants probably put paid to that.
 
If as many as 70 clubs do go into administration (see Xisle’s post), then unlike past administrations I fear a large number will this time go broke. The severity of the recession means that rich punters willing to bale out a club will be thin on the ground. The usual local sentiment which normally whips up a ‘save our club’ message through local communities may not resonate when many are themselves struggling to cope financially, and non-fans read only of rich footballers being treated like superstars, so have little sympathy.

Add to this HMRC’s intention, openly and publicly stated, of forcing bankruptcy on clubs who put tax payment to the back of the queue, in order to warn other clubs, and we have the makings of a perfect storm.
 
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Keepitgreen":oy77rsqk said:
It's a very strange take over. It was only completed on the 4th June with the new owners promising to secure the club's future. 27 days later they put it into administration. They knew the club were losing £9m a year, they knew we had a pandemic and they knew it could be quite a while before fans are allowed back into stadiums. Something doesn't smell right.

The fit and proper person criteria :lol:





PAFC have to learn to live according to their means now.
 
Aug 12, 2010
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mervyn":dziuuy0k said:
If as many as 70 clubs do go into administration (see Xisle’s post), then unlike past administrations I fear a large number will this time go broke. The severity of the recession means that rich punters willing to bale out a club will be thin on the ground. The usual local sentiment which normally whips up a ‘save our club’ message through local communities may not resonate when many are themselves struggling to cope financially, and non-fans read only of rich footballers being treated like superstars, so have little sympathy.

Add to this HMRC’s intention, openly and publicly stated, of forcing bankruptcy on clubs who put tax payment to the back of the queue, in order to warn other clubs, and we have the makings of a perfect storm.

correct 100%
 

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Bearing in mind we are in the middle of a pandemic, why does a club that goes into admin get a 12 point deduction. Either you punish them with relegation or you don't. If your team has cut it's cloth accordingly and you end up getting relegated on goal difference you would be well hacked off. So the real question is what is the actual point of a 12 point deduction, who came up with that figure,
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The odd bit in the statement about going into administration was that the uncertainty over Brexit being a factor. Now I know we've been preoccupied with other matters in recent weeks, but our future uncertainty with Brexit is as much an issue now as it was 6 weeks ago when the new owners took over. And as much when all the owners were putting together their bid. Like I said, odd.

But I definitely agree that many clubs are in serious trouble, especially those in the Championship who are approaching the end of their parachute payments: Stoke are looking at losing £20million from theirs next season alone, and they'll be worse off if they get relegated. Lots of clubs are running with a seriously big overdraft, but lenders would ignore that as long as there was cash-flow. Cash-flow dries up, and then lenders will start knocking on the door.
 

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honicknowle_pete":2jwlpayl said:
Bearing in mind we are in the middle of a pandemic, why does a club that goes into admin get a 12 point deduction. Either you punish them with relegation or you don't. If your team has cut it's cloth accordingly and you end up getting relegated on goal difference you would be well hacked off. So the real question is what is the actual point of a 12 point deduction, who came up with that figure,
Pete

EFL Rules: 12.3

EFL RULE OK!
 

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Last year L1 was a bit of a farce with Bury gone, so each team had two bye matches.

Next season may well be a bit farcical with no/reduced crowds.

How odd would it be if 2 or three (or more) clubs in each league went bust and were thrown out like Bury? You could even have the oddity of 2 extra teams from L1 to Championship and 4 extra from L2 to L1 to fill up the numbers. Or just run shorter leagues.
 
I’m sure I’ve said this before, but I would suggest that there are just too many lower league professional clubs in the Greater Manchester area. Their fan bases are too diluted, meaning they are heavily dependent upon big money owners, and many of their biggest successes were achieved in the pre-Premier League era. Are many of these towns still geographically distinctive these days with settled long-term residents who identify with the town in which they live, or are they increasingly Manchester dormitory towns? Pumping more cash into Manchester will probably only make things worse.

It’s surely no surprise that Oldham, Bury, Stockport, Wigan, Bolton have all struggled over the last ten years or so when so few locals actually follow their local clubs. Many of these clubs were once successful, but memories of these successes are fast fading. Salford have essentially been bankrolled to achieve theIr current standing and will need to greatly develop their club infrastructure if they are to defy gravity for any length of time. The NW region was a hotbed of footballing talent in pre-professional days, when talent was shared among the clubs. Today these clubs are heavily dependent upon Man U/Man C loan signings or drop-outs.

I can’t see how many of the Greater Manchester clubs can survive on a break-even, cautious basis, as their on-pitch offering can’t hope to compete with that of their superstar neighbours. This is certainly one problem that Argyle are not faced with. Could this be a rare case in which our relative geographical isolation actually works to our advantage, rather as it does for Norwich?
 
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KirkbyGreen":1s6xk0mi said:
I’m sure I’ve said this before, but I would suggest that there are just too many lower league professional clubs in the Greater Manchester area. Their fan bases are too diluted, meaning they are heavily dependent upon big money owners, and many of their biggest successes were achieved in the pre-Premier League era. Are many of these towns still geographically distinctive these days with settled long-term residents who identify with the town in which they live, or are they increasingly Manchester dormitory towns? Pumping more cash into Manchester will probably only make things worse.

It’s surely no surprise that Oldham, Bury, Stockport, Wigan, Bolton have all struggled over the last ten years or so when so few locals actually follow their local clubs. Many of these clubs were once successful, but memories of these successes are fast fading. Salford have essentially been bankrolled to achieve theIr current standing and will need to greatly develop their club infrastructure if they are to defy gravity for any length of time. The NW region was a hotbed of footballing talent in pre-professional days, when talent was shared among the clubs. Today these clubs are heavily dependent upon Man U/Man C loan signings or drop-outs.

I can’t see how many of the Greater Manchester clubs can survive on a break-even, cautious basis, as their on-pitch offering can’t hope to compete with that of their superstar neighbours. This is certainly one problem that Argyle are not faced with. Could this be a rare case in which our relative geographical isolation actually works to our advantage, rather as it does for Norwich?

Think you’re spot on here. Too many clubs and not enough paying customers. Clubs around London and Birmingham seem to avoid the problem though.