Re: Latics in administration - Lenagan leading bid : Fri May 26, 2023 3:56 pm  

MattyB wrote:

Few frothy comments insisting that IL is rubbing his grubby hands in anticipation.

Yeah I'm sure he can't wait to shell out on a "million quid a year loss white elephant".

We should stay well clear

Re: Latics in administration - Lenagan leading bid : Fri Jun 02, 2023 6:53 pm  

First team squad not been paid again, a couple of hours to go so that might change but looking like another -4 beckons

Re: Latics in administration - Lenagan leading bid : Fri Jun 02, 2023 9:47 pm  

A lot of rumours knocking around about administration tonight.

Re: Latics in administration - Lenagan leading bid : Fri Jun 02, 2023 10:52 pm  

Wouldn’t surprise if someone bought them.
They could buy them pretty cheaply and if they are prepared for a punt and take a longer term view it could work.
They’ve been looking for a sale I believe for quite a while and maybe the SP has reached rock bottom which could entice someone.

Waiting to acquire post administration is open to counter offers and uncertainty so if someone really wanted to acquire a FL club for say £8m or lower it could be a good long term investment.

I’ve no interest whatsoever in football so I’ve no dog in the fight but ideally I’d like Danson to step in and buy them to secure our future.

Re: Latics in administration - Lenagan leading bid : Sat Jun 03, 2023 7:12 am  

Not even a £1 price tag would tempt any sane individual. The outgoings versus income is astronomical, brought about by paying excessive salaries to mediocre old footballers with no sell-on value. The retained list showed that pretty much all the dross that couldnt hack it in the championship had triggered an additional year and the rumour is the additional year will be on current wages, not 3rd tier.

Anyone buying the club will need at least £10m just to cover the shortfalls until June 2024 when the high paid, under achieving old men finally leave. And at that point, they'll have the problem of a club probably in the 4th tier with no players and have to sign anyone willing to come, which will probably be the old knackers again.

Its a flawed business model, and I cant see any way out for them as a football league club. The kindest thing to do would be to liquidate them and start again. Perhaps we could let them play at Robin Park in the north-west counties league?

Re: Latics in administration - Lenagan leading bid : Sat Jun 03, 2023 8:49 am  

muttywhitedog wrote:

Not even a £1 price tag would tempt any sane individual. The outgoings versus income is astronomical, brought about by paying excessive salaries to mediocre old footballers with no sell-on value. The retained list showed that pretty much all the dross that couldnt hack it in the championship had triggered an additional year and the rumour is the additional year will be on current wages, not 3rd tier.

Anyone buying the club will need at least £10m just to cover the shortfalls until June 2024 when the high paid, under achieving old men finally leave. And at that point, they'll have the problem of a club probably in the 4th tier with no players and have to sign anyone willing to come, which will probably be the old knackers again.

Its a flawed business model, and I cant see any way out for them as a football league club. The kindest thing to do would be to liquidate them and start again. Perhaps we could let them play at Robin Park in the north-west counties league?

Difficult to argue with the vast majority of that however, there are lots of very rich people who would love the opportunity to own an English FL club.
The current owners keep paying “key” personnel albeit late for some reason.

Re: Latics in administration - Lenagan leading bid : Sat Jun 03, 2023 10:40 am  

It’s making me laugh how people are saying IL will buy them and Latics fans calling him out for trying to buy the stadium, I think someone called him a leech. IL is not stupid, I am sure he looked at owning both but either didn’t have the cash or could see it was a money pit. The next best thing to do is to protect your investment and secure the stadium for the rugby, the money Latics could have saved on the upkeep could have gone towards the players. I am not sure what Dansons stance is but just because he’s rich doesn’t mean he should part with him money and that goes for the Rugby as well.

I am sure they will be bought out but they need to let go of the idea that they'll ever be a PL team again. They are a Championship side at best. Stay in your lane and remain in L1 for a bit I say.

Re: Latics in administration - Lenagan leading bid : Sat Jun 03, 2023 12:12 pm  

IL is at the point wheres he starting to scale back his duties regards the club. (Recently promoted Rads for instance). He's already recently put out a statement regarding business continuation with his sons and/or Mike Danson.

Absolutely no way IL is thinking of saving the football club "unless" as part of a consortium of local figures with enough money reserves to support and grow.

At the end of the day Wigan Rugby League should stay out of any comments to the press until circumstances affect them.

I'm just glad it's not us.

Re: Latics in administration - Lenagan leading bid : Sat Jun 03, 2023 6:35 pm  

I don’t see how IL buys Latics to be honest. Both clubs under one banner sounds good in theory but in practice I don’t think will work which is a shame.

I just hope whoever does buy Latics actually gives a toss about them and runs the club properly and grows the club. I’ve grown in admiration for the club in recent seasons despite not being a football man myself and would hate to see them go the way of Bury.

A strong Latics and strong Warriors benefits the whole town. I just wish more fans from both clubs could see it that way.

Re: Latics in administration - Lenagan leading bid : Sun Jun 04, 2023 6:39 pm  

Not looking good for the soccer club - https://twitter.com/TMFootyFinance/stat ... 5%2Fpage-6

Not looking good for the soccer club - https://twitter.com/TMFootyFinance/stat ... 5%2Fpage-6