Re: Latics in administration - Lenagan leading bid : Wed Sep 16, 2020 9:14 pm  

How can any body commit to buying Latics when at the present moment no fans allowed and with the virus escalating in the North West Wigan Warriors will be under the same restrictions IMHO we will not see fans back on the terraces before April next year.

Re: Latics in administration - Lenagan leading bid : Wed Sep 16, 2020 9:32 pm  

Grimmy wrote:

I wandered onto Cockney Latic to read the latest and saw they were hoping it affects us badly, enjoying that Barnsley are in trouble, and of course they loved it when Bolton hit difficulties. I feel bad for any staff affected and creditors who don't get paid but not bothered at all about the fans. They would love it if that happened to us.

Always feels like it's a war for some of those guys.

I remember when they used to sneak on here. It wasn't pleasant.

Re: Latics in administration - Lenagan leading bid : Thu Sep 17, 2020 7:56 am  

Why is the EFL treating the Latics different than how they treated Bury FC?

Re: Latics in administration - Lenagan leading bid : Thu Sep 17, 2020 9:04 am  

jaws1 wrote:

How can any body commit to buying Latics when at the present moment no fans allowed and with the virus escalating in the North West Wigan Warriors will be under the same restrictions IMHO we will not see fans back on the terraces before April next year.

That's were you are wrong been granted 1000 on the 30th September Wigan verses Saints.

Re: Latics in administration - Lenagan leading bid : Thu Sep 17, 2020 9:12 am  

Ashton Bears wrote:

That's were you are wrong been granted 1000 on the 30th September Wigan verses Saints.

I wouldn't bank on that at the moment. Seems to be a growing sense of panic in the air.

Re: Latics in administration - Lenagan leading bid : Thu Sep 17, 2020 9:55 am  

Ashton Bears wrote:

That's were you are wrong been granted 1000 on the 30th September Wigan verses Saints.

I heard a rumour of a 12.01am kick off!!
I'd had a few pints when the guy told me that so I could have been imagining the time
A good marketing ploy though

Re: Latics in administration - Lenagan leading bid : Thu Sep 17, 2020 9:56 am  

Cruncher wrote:

I wouldn't bank on that at the moment. Seems to be a growing sense of panic in the air.

It’ll be interesting to see if it does go ahead that’s for sure

Re: Latics in administration - Lenagan leading bid : Thu Sep 17, 2020 11:43 am  

Itchy Arsenal wrote:

I heard a rumour of a 12.01am kick off!!
I'd had a few pints when the guy told me that so I could have been imagining the time
A good marketing ploy though

I think that was when there was going to be a loosening of the restrictions on the 1st October, Radlinski mentioned asking for an exemption to get fans in for the Saints game and if they couldnt get the go ahead it was suggested that we have the midnight kick off. All irrelevent now , then again you may need a covid test test from Aberdeen to be one of the 1000

Re: Latics in administration - Lenagan leading bid : Thu Sep 24, 2020 8:25 am  

So apparently Latics have had to put the chippy up for sale and the administrator wants 500k for the property as funds are very low now that the Americans have walked away,according to Gerald Krasner the money will run out before Christmas and they wouldn't be able to finish the season if no buyer comes in.What i would like to know is if they are that desperate for cash then why don't they accept IFL bid for the stadium as that would give them a few million to keep them going

Re: Latics in administration - Lenagan leading bid : Thu Sep 24, 2020 8:38 am  

warrior1872 wrote:

So apparently Latics have had to put the chippy up for sale and the administrator wants 500k for the property as funds are very low now that the Americans have walked away,according to Gerald Krasner the money will run out before Christmas and they wouldn't be able to finish the season if no buyer comes in.What i would like to know is if they are that desperate for cash then why don't they accept IFL bid for the stadium as that would give them a few million to keep them going

I suspect (and hope), that Leneghan is playing this cleverly and 'biding his time'. Administrators know they have his offer in the locker, although are trying to explore if they can find a buyer who will take on the club in its entirety as they think this increases chance of a sale.

So this means the options are
a) ensure he is sufficiently communicating with each of the buyers who are willing to take on the club, but won't pay the full amount - So he is in the prime seat to take on the stadium / consortium buys the club should that eventuate. Appears he is doing this, but important to caution that we don't too aggressively fight the terms of any lease - as per stories of considering moves away etc.
b) wait for the buyers to drop out, as they have continued to so far, and pick up the stadium for even less when latics are inevitably liquidated. Seems the most likely atm, but carries two big risks - 1) An 11th hour buyer comes in to take the lot in a cut price deal (must ensure that relationships are sufficiently strong with administrators to ensure he could structure something better) 2) That picking up in this way causes even more entrenchment and negative feeling in the town between football and rugby.....Ticheads would hate him (and WRL even more) if they lose their club and he picks up the stadium at snip..."Thugby / chubbies stole our ground" type nonsense would prevail for decades from delusional and disillusioned tics!!! Engagement and support to any phoenix club would be important - perhaps if they reform in the national league a cut price deal could be struck for them to play at the Robin Park Athletics Arena to placate?

If he is managing these risks (which I think, knowing how shrewd he is he probably is) he is probably playing the long game - where it is much more sensible to leave the stadium as a burden for the administrators / football club to incur the costs whilst the ground cannot make revenue, than it is for him to pick up the cost.

The best case scenario for us would be lenghan doing a deal around Christmas time when the proverbial is about to hit the fan. He will get the stadium at the lowest possible price, whilst only needing to cover 1/2 of the winter running costs until March, when society will open back up again and games with spectators are likely.

He's just got to cover the above risks in the meantime, to make sure no one swoops in with a last minute deal (like smurthwaite) and takes the ground from under his nose!