FORUMS FORUMS






RLFANS.COM
Celebrating
25 years service to
the Rugby League
Community!

   WWW.RLFANS.COM • View topic - Latics in administration - Lenagan leading bid
User avatar
RankPostsTeam
International Star4469
JoinedServiceReputation
Jan 20 201311 years86th
OnlineLast PostLast Page
12th Sep 23 17:4931st Aug 23 13:19LINK
Milestone Posts
2500
5000
Milestone Years
0510 1520 2530
Location
Watching Rugby League

afootingmiracle21-12 wrote:
Very different context tho. IL generally covers operating losses (if there are any) of a couple of hundred thousand a season. Latics are still haemorrhaging money at a rate of 15k per week, 5mil per season, down from over a million a month.
Two very different situations. We are largely financially stable.


Not if IL pulls the plug. Don't forget the plug was pulled when their income was £0.

As far as I'm aware, Latics paid all of their non football creditors every season (I know one of them) and their football creditors were paid on time as agreed. Staff were paid on time every time (again, I know someone who worked at the stadium) They spent more than they brought in (the owners must have agreed the budgets) but so does every club. Some of the clubs in the championship are really bad financially.

We will never know about the admins because they answer to nobody, but Lisa Nandy mentioned parliamentary privalege on a podcast this week and then days later that article came out. Sounds like someone could be trying to get their 2p in first. Or maybe their £2m.
RankPostsTeam
First Team Player125No
Team
Selected
JoinedServiceReputation
Sep 14 20204 years289th
OnlineLast PostLast Page
17th Jan 24 20:0717th Jan 24 20:03LINK
Milestone Posts
100
200
Milestone Years
0510 1520 2530

Egg Chasing wrote:
afootingmiracle21-12 wrote:
Very different context tho. IL generally covers operating losses (if there are any) of a couple of hundred thousand a season. Latics are still haemorrhaging money at a rate of 15k per week, 5mil per season, down from over a million a month.
Two very different situations. We are largely financially stable.


Not if IL pulls the plug. Don't forget the plug was pulled when their income was £0.

As far as I'm aware, Latics paid all of their non football creditors every season (I know one of them) and their football creditors were paid on time as agreed. Staff were paid on time every time (again, I know someone who worked at the stadium) They spent more than they brought in (the owners must have agreed the budgets) but so does every club. Some of the clubs in the championship are really bad financially.

We will never know about the admins because they answer to nobody, but Lisa Nandy mentioned parliamentary privalege on a podcast this week and then days later that article came out. Sounds like someone could be trying to get their 2p in first. Or maybe their £2m.


Although the key point being is that there is a huge difference between plugging a gap of £5-12 million per season for latics, to 1-200,000 per year for Wigan? If Lenghan left tomorrow we wouldn't be bankrupt, we would just need to cut cloth or find other ways of increasing revenues. Its likely that without lenghan's input, we'd have one or two less big signings to ensure we were operating at break even, and would be at top 5-6 team, rather than a top 1-2. For latics, its difficult to find where that sustainable point lies outside of the premiership? Football is a very different proposition, particularly when you have a small fanbase.
User avatar
RankPostsTeam
International Star4469
JoinedServiceReputation
Jan 20 201311 years86th
OnlineLast PostLast Page
12th Sep 23 17:4931st Aug 23 13:19LINK
Milestone Posts
2500
5000
Milestone Years
0510 1520 2530
Location
Watching Rugby League

Latics wouldn't have been bankrupt either, they would have sold 2 players and been close to breaking even. They had a player that Milan were willing to pay £10m for and they sold him for £2m.

This admin was done with their income at £0.

With our income at £0 and no IL how do we pay the wages?
User avatar
RankPostsTeam
International Star4469
JoinedServiceReputation
Jan 20 201311 years86th
OnlineLast PostLast Page
12th Sep 23 17:4931st Aug 23 13:19LINK
Milestone Posts
2500
5000
Milestone Years
0510 1520 2530
Location
Watching Rugby League

You clearly don't like Latics as DannyT said. I don't particularly care for the majority of their fans, but am capable of being neutral when I need to be.

Everyone in football described them as a well run club. Theie football creditors were standard 'debts' for transfers as they don't pay in full. Knowing the people I know, they never had any issues paying money. The other clubs you mention didn't pay players and staff for months. That never happened at Latics.

They were well and truly shafted by their owners and have continued to be since and I hope Lisa Nandy or anyone else is able to bring it to light.

From a Wigan RL perspective, I wouldn't want anyone other than IL running us, but to think we would be fine if he decided he wasn't putting in a single penny more (and put us straight into administration) is naive at best.
RankPostsTeam
First Team Player125No
Team
Selected
JoinedServiceReputation
Sep 14 20204 years289th
OnlineLast PostLast Page
17th Jan 24 20:0717th Jan 24 20:03LINK
Milestone Posts
100
200
Milestone Years
0510 1520 2530

Egg Chasing wrote:
You clearly don't like Latics as DannyT said. I don't particularly care for the majority of their fans, but am capable of being neutral when I need to be.

Everyone in football described them as a well run club. Theie football creditors were standard 'debts' for transfers as they don't pay in full. Knowing the people I know, they never had any issues paying money. The other clubs you mention didn't pay players and staff for months. That never happened at Latics.

They were well and truly shafted by their owners and have continued to be since and I hope Lisa Nandy or anyone else is able to bring it to light.

From a Wigan RL perspective, I wouldn't want anyone other than IL running us, but to think we would be fine if he decided he wasn't putting in a single penny more (and put us straight into administration) is naive at best.


Far from it. I would say exactly the same as you. I'm indifferent to them, but don't particularly care for a large group of their fans who have a ridiculous anti rugby chip on their shoulder.

I was looking at this neutrally, and factually, in terms of the operating losses of both businesses. Yes, i don't deny Wigan have them, but the operating losses for latics are much more substantial, and personally, i'm not sure how they get away from that to be sustainable or even close to sustainable in the future? I guess the only real option is on sale of players as you say.

I don't doubt they were shafted by their previous owners, who overnight decided they would no longer fund them and withdrew their support. I hope Nandy does shed some light on it. But my original point was around the mud thrown at the admins, who by the look of things have worked miracles to keep the club in business - reducing debts and selling a pretty unattractive business proposition during a pandemic. Generally I feel their fans have had an inability to recognise this and point fingers of blame without fully understanding facts.....something which we regularly see in the bile and nonsense they chuck our way!

Also have never said we would be 'fine' if leneghan put us in administration and withdrew funding......just that the 'gap' between operating losses and break even is much less to bridge for Wigan RL than it is for Latics.

But that is the nature of football I guess rather than a Wigan Latics problem per se, due to over inflation of player wages to excessive and unsustainable levels.....In the current climate I think there will be dozens of clubs that go to the wall in the next few years until excessive player wages are brought under control. There are players in Latics league still earning 10-15k per week :shock: That's ridiculous when the quality of players in that division is distinctly average and average crowd levels and incomes for most (apart from your big hitters like Sunderland etc) are comparable or less than SL levels......We'd go under in 5 minutes if we had to play players at that rate, so in that respect I feel for them.
User avatar
RankPostsTeam
International Star4469
JoinedServiceReputation
Jan 20 201311 years86th
OnlineLast PostLast Page
12th Sep 23 17:4931st Aug 23 13:19LINK
Milestone Posts
2500
5000
Milestone Years
0510 1520 2530
Location
Watching Rugby League

Latics operating costs are mainly wages I believe. If they decide they don't want to compete anymore and are happy as a L1 club then they'll be fine. Close the academy and they would probably be pretty well off at that level.

They may make the odd trip to the championship but they'd find it tough if they didn't pay the wages at that level which is where an owner comes in.

Similar to rugby and a club trying to win the league using 50% of the cap.
RankPostsTeam
International Star664
JoinedServiceReputation
Aug 31 201311 years278th
OnlineLast PostLast Page
28th Mar 24 06:5927th Mar 24 06:43LINK
Milestone Posts
500
1000
Milestone Years
0510 1520 2530

Latics just posted their results - £7.7m loss in 12 month period to 30 Jun 22. Wages £13m - 156% of total income.

IL made a shrewd move in not buying them.
User avatar
RankPostsTeam
International Board Member29166
JoinedServiceReputation
Nov 08 200419 years16th
OnlineLast PostLast Page
28th Mar 24 11:0827th Mar 24 12:49LINK
Milestone Posts
25000
30000
Milestone Years
0510 1520 2530
Location
WIGAN

muttywhitedog wrote:
Latics just posted their results - £7.7m loss in 12 month period to 30 Jun 22. Wages £13m - 156% of total income.

IL made a shrewd move in not buying them.


Football in general doesn’t seem sustainable as things stand. The wages are insane and not just in the prem. That Latics squad is really average and has many players not good enough for Championship football IMO and it’s costing that!

The new owners pockets will be tested and there is no sign of them having the ability to create the type of football club that makes shrewd signings of younger players and then sells them on for profit. All the signings are either free transfer of older players (with no sell on value) or loans, so money just goes out on wages and nothing much is likely to come in. I don’t think the club has a single player they could sell on for more than a few hundred grand.
User avatar
RankPostsTeam
Club Coach7718
JoinedServiceReputation
Mar 30 200420 years80th
OnlineLast PostLast Page
28th Mar 24 11:0027th Mar 24 22:54LINK
Milestone Posts
5000
10000
Milestone Years
0510 1520 2530
Location
Sorting my Erection out & Helping Conroy With his!
Signature
Fans Forum 28.08.08 Fan from Haydock

"I've got one word for you Mr Chairman - Penalty Count"

[quote="The Daddy"]I've got one word for you all......Steve Hanley[/quote]

Some Salford fan said to me and I quote "You are by far and away the most Handsome & Knowledgeable Rugby League Fan in England!"

I thanked him and went on my Merry way!

RIVERCAVE DWELLER OF THE YEAR 2015!

"The club used you last night and didn't tell the truth."

Officially one of the 119 Mugs used by the club

NickyKiss wrote:
Football in general doesn’t seem sustainable as things stand. The wages are insane and not just in the prem. That Latics squad is really average and has many players not good enough for Championship football IMO and it’s costing that!

The new owners pockets will be tested and there is no sign of them having the ability to create the type of football club that makes shrewd signings of younger players and then sells them on for profit. All the signings are either free transfer of older players (with no sell on value) or loans, so money just goes out on wages and nothing much is likely to come in. I don’t think the club has a single player they could sell on for more than a few hundred grand.


Not trying to be pedantic but that wage bill is for 2021/2022 not the one that's in the championship
So they were paying approx 13million in League 1 (possibly of which 10/11m would have been on players wages from what I was told).
RankPostsTeam
Player Coach2079No
Team
Selected
JoinedServiceReputation
Feb 28 200519 years279th
OnlineLast PostLast Page
23rd Mar 24 10:3223rd Mar 24 00:15LINK
Milestone Posts
1000
2500
Milestone Years
0510 1520 2530

7.7 MILLION LOSS is a lot no wonder they are bottom of the 2nd divison
PreviousNext

Who is online

Users browsing this forum: Bing [Bot], BoredWiganer, Cats13, chrissie, CM Punk, endoman, exiled Warrior, Fujiman, Jukesays, MOUSE13, tedglen, The Yellow Giraffe, verbatim, Warrior Winger, wigginswarrior and 278 guests

REPLY

Subject: 
Message:
   
Please note using apple style emoji's can result in posting failures.
Use the FULL EDITOR to better format content or upload images, be notified of replies etc...

Return to Wigan Warriors


RLFANS Recent Posts
FORUM
LAST
POST
TOPIC
POSTER
POSTS
3m
ALL NEW 49ERS ERA LEEDS UTD THREAD
tad rhino
1386
4m
2024 Southstandercom Prediction Competition Week 6
rugbyleague8
26
8m
Saints a
Warrior Wing
17
15m
Stats article
Ex-Swarcliff
2
20m
Game - Song Titles
Wanderer
34269
22m
BORED The Band Name Game
Wanderer
55983
27m
Smith out ASAP
Backwoodsman
138
40m
Squad for Catalan
Fantastic Mr
7
52m
The Good Friday Derby Massacre
Armavinit
124
Recent
WIRE YED Prediction Competition Catalans Home
karetaker
14
FORUM
LAST
VIEW
TOPIC
POSTER
POSTS
41s
ALL NEW 49ERS ERA LEEDS UTD THREAD
tad rhino
1386
43s
Spare Tickets Friday
post
4
44s
TV Games - Not Hull
Armavinit
1379
45s
Fevround 2
Wollo-Wollo-
89
46s
Smith - should he stay or should he go
Rocknrolla69
347
1m
Transfer Talk / Rumour thread V4
Jack Burton
8703
1m
Game - Song Titles
Wanderer
34269
1m
Stats article
Ex-Swarcliff
2
1m
Other Championship Clubs
Trojan Horse
97
1m
Rd 6 I Cas A
Rockinhorse
21
FORUM
NEW
TOPICS
TOPIC
POSTER
POSTS
TODAY
Stats article
Ex-Swarcliff
2
TODAY
21 man Squads - Devils v Leopards
Septimius Se
2
TODAY
Squad for Catalan
Fantastic Mr
7
TODAY
The Wigan Way - New Podcast - Chairman Special
Jukesays
1
TODAY
Dons v Swinton Lions 30 June 2024
Wanderer
1
TODAY
Squad for Sheffield
AdamH
1
TODAY
London Away
Fartown58
1
TODAY
The Bulls away
Hudd-Shay
8
TODAY
The official Leon Hayes Thread
Alffi_7
13
TODAY
Saints a
Warrior Wing
17
TODAY
Leon Ruan signs on loan
Jemmo
2
TODAY
Wardle
Jo Jumbuck
3
TODAY
Huddersfield - Home
Fartown58
6
TODAY
Max Wood on loan to Bradford 2 weeks
rubber ducki
7
TODAY
Jake Wardle 5 Year deal
Zig
22
TODAY
No grade A for 2025 for Trinity
Khlav Kalash
22
TODAY
Cup Quarter Final TV Arrangements
RLFANS News
1
TODAY
Rd 6 I Cas A
Rockinhorse
21
TODAY
WIRE YED Prediction Competition Catalans Home
karetaker
14
TODAY
Spare Tickets Friday
post
4
TODAY
RL Podcast
AgbriggAmble
1
NEWS ITEMS
VIEWS
Cup Quarter Final TV Arrangeme..
485
2024 Challenge Cup Quarter Fin..
610
Easy Does It For The Dragons A..
538
Warrington Demolish London For..
647
Leigh Leopards Beat Plucky Fea..
698
Saints Triumph Over Disappoint..
674
Easy Win for the Wolves Over L..
921
Dragons Condemn Castleford To ..
902
Leigh Leopards Secure First Po..
1044
St Helens Tame The Rhinos To W..
1018
Wigan Warriors Come From Behin..
1074
Betfred Championship and Leagu..
1063
2024 Challenge Cup Sixth Round..
3835
Featherstone Win Extra Time Cu..
1185
Dragons Triumph Over Hull FC t..
1063
RLFANS Match Centre
Matches on TV
Table 'boards.stats_fixtures' doesn't exist