@pap thought it may be time for a thread to discuss the likely surge in financial failure (Admin) across the lower leagues. We kind of missed the Bolton, Bury & Macclesfield stories.
Thought I woud take a slightly wider brush, and look at creating a thread where we can place any “financial impact” story for the lower leagues and discuss. That may be the impact of salary caps in the Championship to players wages not being paid at Sheff Wednesday to the carnage of Sunderland 'til I die.
The starting point is Wigan. They were “in some trouble” before Covid appeared and while being 8 points above relegation have chosen now to go “bust”.
That alone seemed odd. This article fills out some details that makes it even more odd.
As recently as 24 June, a businessman based in Hong Kong, Wai Kay Au Yeung, who had initially been a minority shareholder in the consortium Next Leader Fund (NLF), was registered as the owner of more than 75% of the club’s holding company.
Now hang on, a bloke spends almost 50 million and goes into Admin 7 days later? WTF?
Here is the article, this could be a good one
Jeez
How is this even possible? Reading? WTF?
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Wigan Athletic: Administration is a ‘major global scandal’ says MP -
Paying 168% of income as wages is the scandal… when the fuck will they learn…
Agree but there have been allusions to Wigan being 12/1 against relegation and some “gambling patterns”
And here we go. The whole thread.
This could be fraud on an Industrial scale. And a huge problem for the EFL who approved the takeover
We really are falling down a deep dark rabbit hole here
Smacks of insider trading doesn’t it. Bet it’s just the tip of the iceberg too.
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12/1 odds.
Profit far more than the £35mil cost so talking about a BET of close to £5mil.
Take a 12 point penalty to ensure relegation.
That isn’t inside trading it is match fixing on an incredible scale.
It is also a BIG lesson that kicking a ball out for a throw in is the least of ALL sports worries if this is the new scale of match fixing
The only surprise to me was that Bury went first. Wigan is a victim of its own previous success, which let’s remember, was based on the idea of raising a lower league football club in a rugby town to the Premier League, despite the fact that most of those actually interested in Premier League football already supported a Manc or Scouse team.
Not sure you’ve read the tweets Pap.
They were financially tight but ok. They were put into admin by owners who bought them about 2 weeks ago.
It isn’t a Bury or Bolton this time I thought it was when I started the thread but the stories coming out are more insane than the Fire Saga movie
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It would be truly epic, heroic & hilarious IF Wigan stay up with -12 points.
I hope they do
Wigan have gone off the boil…only 8 - 0 82minutes.
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New ‘share issue’ should sort that no worries given how they are the bestist fans eva
