Yeah. The admins are doing their job. You cant pay bills and wages with no income.

So even though I get that there was some dodgy stuff going on, end of the day they wanted shut.
Serious question, is there a reason they went into admin rather than selling it?(obviously putting the sale to a stooge to one side) because surely if they could have, rhey would have?

And this is the bit that I find strange.
A lot of the Latics fans are making out that they were a "Well run club".
But the reality is losing around 15million a year isnt being a well run club?
And I'm not sure I can comprehend how anyone can think otherwise.

I dont get why IEC bought it in the first place knowing they were likely to lose that amount, but once they had, and once they decide theyd had enough, the only way that the status quo can continue for Latics is that someone prepared to do the same?
Now it's obvious no one in this current climate fancies that otherwise it would have been sold as a package, before the administrators move in and certainly before they start selling off their main assets (The players).

So I can assume, and I have no facts here, someone doant fancy inheriting the losses at that rate, and is hoping to buy them when there is no debt left and as little as possible overheads as possible left.
That what seems to be happening? A clean slate
A business model that you can start afresh with rather than a model that is losing 15million a year.
Crying foul over the sale to a stooge is fine, but if the owners wanted to dump it that's up to them however unsavoury a way theyve done it.

This makes no sense; if their first choice was liquidation then that was it, goodbye club, out of the league. Liquidation was end game, why would anyone think administration is worse than liquidation?

This also makes little sense. The assets can't cover the losses, sure you could try and get some security off them but if you're losing £15m a year, you need cash and the theoretical (very much in this case) value of your assets starts to be pretty meaningless pretty quickly. Cash is the name of the game, not Balance Sheet values.

Correct
I'd like to see some evidence of where the owners wanted liquidation Before Administration ?

Either way it's a Moot Point
Top line is they wanted shut - And losing 15million a year was a big reason - They wanted Rid before Covid as well so that isn't the only reason they wanted shut, although it certainly will have increased the pressure to do so and increased potential losses?

Latics still had a LONG way to go to be a "Well Run Club" IMO
Acceptable losses are only acceptable as long as the person who is accruing those losses is prepared to accept them & Fund them

Seems strange to me why IEC decided in Nov/Dec19 that they weren't prepared to do that anymore, but end of the day that's their right.

Not too dissimilar than if IFL said tomorrow that he wasn't prepared to put "X" into Wigan to cover their losses

the administrators have just confirmed there was nothing illegal so i guess they have nothing to be upset about.

We would be in the same position if IFL decided not to cover our losses. Not sure what our debts are though, obviously there aren't really transfer fees in rugby so that would take away half of latics debts

stadium not been sold

Administrators are currently answering questions.

Q How close are you to selling the stadium?

A I'm not selling the stadium independently.

I know they’re administrators but those two hardly Instill confidence do they?

If they go into liquidation and cant find a buyer then they might have to sell the stadium separately along with the traing pitches .

Just wrote the same thing earlier "Not too dissimilar than if IFL said tomorrow that he wasn't prepared to put "X" into Wigan to cover their losses"

However
I would argue that IFL putting "X" in each year to balance the books is similar to what Whelan would have been doing
Seems these guys are not Balancing the Books so the administrators need to get rid of assets to cover those losses.

Hence why it may be a bit premature to start worrying about filling in the corners and spending 2 miliion on creating standing areas.

Long way to go yet on this one before anyone knows what's going to happen