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D W Stadium - Wigan Warriors

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What if any impact will today's news that Wigan Athletic have gone into  administration following the recent takeover by a Hong Kong based consortium  have on the Warriors , if any.

One cause for concern could be that it's not just the soccer club but related companies , including the Stadium Company itself it seems.

One for Padge perhaps......

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13 minutes ago, Damien said:

It hopefully provides an opportunity for Wigan to purchase the ground.

Or the council perhaps to use it as a community asset - although they are probably skint in the current economic situation.

The administrators will be interested in the highest bidder, so certainly Wigan RL have the same opportunity as anyone else.

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I think it would cost far too much sadly. Anyway Wigan Athletic won’t go out of business, they’re too big for that. 

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Who owns the ground?


Sport, amongst other things, is a dream-world offering escape from harsh reality and the disturbing prospect of change.

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6 minutes ago, Blind side johnny said:

Who owns the ground?

Wigan Football Company Limited, which is 85% owned by Wigan Athletic and 15% owned by Wigan local authority, according to the bastion of reliability, Wikipedia.


"I am the avenging angel; I come with wings unfurled, I come with claws extended from halfway round the world. I am the God Almighty, I am the howling wind. I care not for your family; I care not for your kin. I come in search of terror, though terror is my own; I come in search of vengeance for crimes and crimes unknown. I care not for your children, I care not for your wives, I care not for your country, I care not for your lives." - (c) Jim Boyes - "The Avenging Angel"

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15 minutes ago, scotchy1 said:

The game needs assets. 

If the RFL are able to get that loan from the government for clubs, they should be banging on the door for loans to buy assets. 

Whether its Wigan or the RFL/SL. When assets like that become available. Buy them. 

I agree. I obviously want Wigan to buy it but a 25,000 seater stadium in the RL heartlands for events, with 2 sitting tenants too, should be a no brainer really. Sadly I doubt the RFL have the foresight. 

Edited by Damien
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11 minutes ago, Blind side johnny said:

Who owns the ground?

BBC says:   Whelan sold the club to Hong Kong-based International Entertainment Corporation in November 2018 and there was a further change of ownership in May when Next Leader Fund took control.

Paul Stanley, Gerald Krasner and Dean Watson of Begbies Traynor have been appointed as joint administrators.

https://wiganathletic.com/news/2020/june/Club-Statement-Next-Leader-Fund-L-P-Purchase-Majority-Shareholdings-of-Wigan-Athletic/

Edited by glemiln
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14 minutes ago, glemiln said:

BBC says:   Whelan sold the club to Hong Kong-based International Entertainment Corporation in November 2018 and there was a further change of ownership in May when Next Leader Fund took control.

Paul Stanley, Gerald Krasner and Dean Watson of Begbies Traynor have been appointed as joint administrators.

https://wiganathletic.com/news/2020/june/Club-Statement-Next-Leader-Fund-L-P-Purchase-Majority-Shareholdings-of-Wigan-Athletic/

Good luck to Athletic if Krasner is involved

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1 minute ago, The Future is League said:

Tell us more

Former director at Leeds united iirc? Around during the particularly dark days?

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23 minutes ago, Damien said:

I agree. I obviously want Wigan to buy it but a 25,000 seater stadium in the RL heartlands for events, with 2 sitting tenants too, should be a no brainer really. Sadly I doubt the RFL have the foresight. 

Or the funds, how much money do you think the RFL have?

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1 minute ago, Tommygilf said:

Former director at Leeds united iirc? Around during the particularly dark days?

The dark and very murky days.........I won’t say more as I wouldn’t want to get Mr Drake in trouble

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2 minutes ago, Tommygilf said:

Former director at Leeds united iirc? Around during the particularly dark days?

Independent or as a Begbie's representative?

The two would be quite different.


Sport, amongst other things, is a dream-world offering escape from harsh reality and the disturbing prospect of change.

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1 minute ago, DoubleD said:

The dark and very murky days.........I won’t say more as I wouldn’t want to get Mr Drake in trouble

 

Just now, Blind side johnny said:

Independent or as a Begbie's representative?

The two would be quite different.

Honestly no idea. I only remember the name being bandied around angrily when I was younger.

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23 minutes ago, The Future is League said:

Tell us more

Krasner and his consortium took over Leeds United when they went bust and sold the stadium and Training ground " to survive " they couldnt buy back the trading ground cos the time ran out .Radrizzini the present Leeds owner bought it back 2 years ago . Krasner and co sold the club to Bates .considering  Krasners party were all Leeds men you would have thought they would have blocked Bates just like Sheffield Wednesday did 

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 Soon we will be dancing the fandango
FROM 2004,TO DO WHAT THIS CLUB HAS DONE,IF THATS NOT GREATNESSTHEN i DONT KNOW WHAT IS.

JAMIE PEACOCK

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27 minutes ago, Eddie said:

Or the funds, how much money do you think the RFL have?

It's amazing how any team or sport funds stadiums with that attitude. The RFL will never have any money to do anything if it never does anything to have assets to create money.

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3 minutes ago, Damien said:

It's amazing how any team or sport funds stadiums with that attitude. The RFL will never have any money to do anything if it never does anything to have assets to create money.

How much do you think the stadium would cost, out of interest? 

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4 minutes ago, Eddie said:

How much do you think the stadium would cost, out of interest? 

Ask the administrator, they may be able to help you.

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Did wigan athletic not recently buy boltons training facilities? 

Edited by barnyia

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Companies house has the stadium with a net book value of £29.7m at June 2019.

Stadium losses were £1.5m for the year, a third of this being depreciation.

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25 minutes ago, Eddie said:

How much do you think the stadium would cost, out of interest? 

It appears that the creditors are owed appro £25 million. 

The owners immediately prior to this Admin  floated their company this January , then did the deal and got final clearance just 4 weeks ago. EFL approved as well as Hong Kong stock exchange.  A number of owners / shareholders held interests in both camps. Cayman and Virgin Island registered companies -  may tell us a bit . Hedge funds ?

Cannot be discounted that some of the owners are also creditors ( possibly preferential ? )

Wigan Today is running an on line blog as I type. Some interesting stuff. 

Warriors should not be affected says the journo. Administrators want to sell the club as a whole but do not discount asset sales including  land buildings and players to help cash flow. Clash flow caused the problem  and payments from this ' deal ' have not landed as expected it seems …...

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