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+--- Thread: Wigan (/showthread.php?tid=3080)
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RE: Wigan - dsmg - 11-06-2023
Get Mix in on this argument. He says no money exists. Where is he, by the way? Has he seen the light and realised that he talks shyte?
RE: Wigan - Daniel - 11-06-2023
Players under contract can leave for free on Friday if they don’t hear paid by then.
RE: Wigan - Hammie - 11-06-2023
(11-06-2023, 07:34 AM)dsmg Wrote: Get Mix in on this argument. He says no money exists. Where is he, by the way? Has he seen the light and realised that he talks shyte?
When a government can just print extra money, he might have a point.
We used to restrict payments out of the country to protect our currency, now it seems commonplace to come here earn money and export it via international money transfers.
RE: Wigan - slayer - 11-06-2023
(11-06-2023, 07:03 AM)Hammie Wrote: Back to Wigan. Their getting promoted unaffordably really sums up all that is wrong with football finances. Until that model of running a club is prevented from all types of reward it's all a bit of a waste of time.
Is it ok if you do it for winning an FA Cup though? Asking for a friend
RE: Wigan - Pedalo_menders - 12-06-2023
Have we really reached the stage where people don't know or have forgotten what actually happened to us? Good grief.
Here is a very consolidated synopsis:
We did have the money. Then Acardi Gaydamec had all his assets frozen. Then, all the gangsters he owed money to came to collect. That's why we went tits up.
In the words of Bluebaloo 'Not farkin rocket science, is it?'
RE: Wigan - dsmg - 12-06-2023
Bit of a gangster himself then it seems. Fit and proper person?
RE: Wigan - Rocketman - 12-06-2023
(12-06-2023, 12:08 AM)Pedalo_menders Wrote: Have we really reached the stage where people don't know or have forgotten what actually happened to us? Good grief.
Here is a very consolidated synopsis:
We did have the money. Then Acardi Gaydamec had all his assets frozen. Then, all the gangsters he owed money to came to collect. That's why we went tits up.
In the words of Bluebaloo 'Not farkin rocket science, is it?'
Wrong as usual ...
RE: Wigan - slayer - 12-06-2023
Floors all yours if you want to demonstrate how the two scenarios are different
RE: Wigan - Pedalo_menders - 12-06-2023
(12-06-2023, 02:44 PM)slayer Wrote: Floors all yours if you want to demonstrate how the two scenarios are different
We had the money, we had the cash flow to pay off the loans as per the amortisation schedule. We also had the assets (players). Our demise was triggered by the illegal activity by the ultimate beneficial owner.
Once the assets were frozen, this triggers the bank to call in the loan. And also prevents any refinancing (quite rightly). We sold something like £140M of players and approximately £0 was paid back to creditors.
I'm not saying we didn't have dodgy owners, because we did. Very dodgy. But it wasn't becase they were skint that we imploded. It was the illegal activity.
RE: Wigan - bluetagagain - 12-06-2023
We had no money,it was all borrowed.
RE: Wigan - Rocketman - 12-06-2023
P_M is more correct this time. First of all Milan definitely had genuine money but even he realised in the end that it would take more than he had to keep us in the running. I think I'm right in saying that when we bought Sol he became the 5th highest earning player in the whole of Europe?? Milan then sold half his shares to Sasha, who had almost no money of his own but was bankrolled by Daddy. That's when the real problems started, and P_M hits the nail on the head. Then of course we had the Walter Mitty from Abu Dhabi, the non-existent Saudi, and the used-car salesman from Russia who ended up top of Interpol's wanted list. All-in-all a classic case of how not to run a football club! But hey-ho, we're stable and debt-free now, and I for one fully support the steady growth of the Eisner's. Hope we have a good transfer window :-)
RE: Wigan - stayinupforever - 12-06-2023
HMRC lodge a winding -up petition against Wigan. Soon be walking the plank off the pier.
RE: Wigan - Hammie - 12-06-2023
Why I'm in no great hurry to return to the prem and get thrashed by teams owned by dodgy regimes
RE: Wigan - Hammie - 12-06-2023
re Wigan
winning the FA cup seems to come at a cost these days
RE: Wigan - Rocketman - 12-06-2023
I hope they don't go the Bury way. No true supporters deserve that
RE: Wigan - mike hunt - 12-06-2023
One thing is for certain , dont want to be in a winding up order with the hmrc and have no dosh , unless there is sugar daddy in the wings , I fear for wigan .
RE: Wigan - Cunninglinguist - 13-06-2023
Let’s hope that Mike Danson is the man. He seems far more suitable than any other candidate.
RE: Wigan - slayer - 13-06-2023
(12-06-2023, 03:23 PM)Pedalo_menders Wrote: We had the money
We didn't. We had a loan. We were doing the whole thing on credit, not cash.
RE: Wigan - DeepBlue - 13-06-2023
(13-06-2023, 08:49 AM)slayer Wrote:(12-06-2023, 03:23 PM)Pedalo_menders Wrote: We had the money
We didn't. We had a loan. We were doing the whole thing on credit, not cash.
along with every other premier club before or since bar the super rich owner ones.
Premier income was about 60m per year at the time and it was standard practice for clubs to take loans out of next season's income guaranteed by their owners. We did that to the tune of £46m when the banks pulled the plug on Gaydamak Jnr's credit worthiness when his Dad was arrested and gave us three months to pay it back. Our debts at the time were not even in the top half of the table for premier league debts. All that would have been survivable if the coont-soupers hadn't arrived to get back the money Gaydamak Snr owed them, and maybe even survivable if the next three owners (the Walter Mitty one, the non-existent one, and Chainrai had not all been dodgy as fuck and if they had chosen to sell in the championship to someone other than a corrupt Lithuanian banker in Antonov who was about to get arrested too, which allowed Chainrai back prepared to let the club die to get some money back.
People who oversimplify all that to 'we spent beyond our means' just do not get it, but the one that really does my head in is that we 'bought' the cup. FFS the most expensive player in that side cost 5m and the total wage bill and transfer fees of the starting eleven were almost certainly the lowest of any team winning the cup since bar Wigan.
RE: Wigan - bluetagagain - 13-06-2023
However the win bonuses the players got were far more than the money the club actually got from the FA for winning it
RE: Wigan - DeepBlue - 13-06-2023
(13-06-2023, 04:36 PM)bluetagagain Wrote: However the win bonuses the players got were far more than the money the club actually got from the FA for winning it
If so (and I'd like to see a source) then so what ?
Promotion bonuses are always more than any prize money too. Sounds like a prudent & sensible approach to wages to make them dependant on success.
RE: Wigan - Pedalo_menders - 13-06-2023
I agree Deep. Its not correct to say we were financially mismanaged. We weren't. We had criminal owners.
I think the term financial mismanagement is banded around because it shifts the blame away from The FA and Premier League who were asleep at the wheel.
It also serves as a useful narrative for tightarse owners who don't want to spend any money on the squad.
There are plenty of clubs who are financially mismanaged. But those who actually bothered to take a full interest in what went on at Pompey in those dark days (especially the beginning of our downfall) know that we were operating within our means in the prem. Our loan was not unaffordable. We could have paid it off many times over with player sales. That's is the biggest travesty! Argouzy et al did a real job on getting all the money out.
RE: Wigan - slayer - 13-06-2023
Satisfied that you agree with me that it was done on a loan. Thanks.
RE: Wigan - dsmg - 14-06-2023
Billionaire taken them over it seems