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Wigan financial woes - up for sale again? p40
Comments
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So, have Wigan found a buyer?0
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Wigan. Interesting interview on Talksport. Ignoring the stupid name calling. Two lines stood out. They’ve not got a live bid for the whole thing. And they will have to sell again to pay the wages down the line. Top work1 -
Looks to familiar!!
Looking to sell the club for a £1 and the ground and assets separately then whoever buys for a £1 then has to rent off the new owners!!
*****Efl this has to stop now****
Get your act together13 -
Obviously we’re all excited that we might be about to find a glimmer of light at the end of a long tunnel, definitely feel for fans who are still going through it.8
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Grim situation at Wigan. A major difference is that their wage bill was much higher than ours, financially they were unsustainable before the bizarre events in June0
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Plus I would guess that a team in a rugby league town in northern England isn’t quite the attractive investment that a team in London represents (even with all the associated madness that the cast of characters involved with us brings!).killerandflash said:Grim situation at Wigan. A major difference is that their wage bill was much higher than ours, financially they were unsustainable before the bizarre events in June0 -
Remember Sandgaard looked at Wigan, among others.se9addick said:
Plus I would guess that a team in a rugby league town in northern England isn’t quite the attractive investment that a team in London represents (even with all the associated madness that the cast of characters involved with us brings!).killerandflash said:Grim situation at Wigan. A major difference is that their wage bill was much higher than ours, financially they were unsustainable before the bizarre events in June2 -
You think it's only worth £9m? Their ground is £15m-£20m at least.golfaddick said:
You are also forgetting the one big issue......its a firesale. The administrator is looking to get what he can get now. Quickly. Stadium is probably worth 3 times that.Athletico Charlton said:
Way too simplistic I am afraid.sam3110 said:
Interesting, average price of a flat in nearby roads seems to be about 100-110k.Ferryman said:Wigan administrator wants £3M for the DW Stadium. While it's obviously not in Kensington, a bit of perspective on Roland's price.
Roads around the Valley appear to be 3x that on average, but new builds always put a premium on, especially ones in London by a commuter route, so expect a decent flat built on The Valley to set you back 450-500k. That would put Wigan's £3m estimate (selling cheaper than market value to ensure a deal) as quite low, and RD's probable 20m as slightly too high, I'd say Wigan for £5m and The Valley for £15m is more on the money
What is the footprint of both stadiums?
What would be the density of build you could put on both sites?
Most importantly, costs to build have a floor so if you are developing low valie homes then the cost of actually building them will be a higher % of their value and hence the land will be commensurably less valuable as developers will all wish to get 20% + profit margins.0 -
Not sure this is the EFLs fault though is it? Maybe the people who bought the club should have been better differently but how could the EFL know the intentions of every owner? They certainly would not have the remit to over rule the fiduciary requirements of an administrator to seek the best return for those owed money.floydroadfaithfull said:Looks to familiar!!
Looking to sell the club for a £1 and the ground and assets separately then whoever buys for a £1 then has to rent off the new owners!!
*****Efl this has to stop now****
Get your act together
I feel hugely for Wigans fans and hope they come through this administration still intact, it looks from for them.
The only real solution would be for Govt to put some special status on football grounds which prevented their sale or forced them to be owned by Supporters Trusts in some way.0 -
It was his description of Wigan as a primarily Rugby League town which was one of the most astute observations which encouraged me.Henry Irving said:
Remember Sandgaard looked at Wigan, among others.se9addick said:
Plus I would guess that a team in a rugby league town in northern England isn’t quite the attractive investment that a team in London represents (even with all the associated madness that the cast of characters involved with us brings!).killerandflash said:Grim situation at Wigan. A major difference is that their wage bill was much higher than ours, financially they were unsustainable before the bizarre events in June
That coupled with our history of top Danish players aided our cause as did the London base.5 -
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You might even say it saved our bacon.Richard J said:
It was his description of Wigan as a primarily Rugby League town which was one of the most astute observations which encouraged me.Henry Irving said:
Remember Sandgaard looked at Wigan, among others.se9addick said:
Plus I would guess that a team in a rugby league town in northern England isn’t quite the attractive investment that a team in London represents (even with all the associated madness that the cast of characters involved with us brings!).killerandflash said:Grim situation at Wigan. A major difference is that their wage bill was much higher than ours, financially they were unsustainable before the bizarre events in June
That coupled with our history of top Danish players aided our cause as did the London base.
Okay, I'll get my coat....5 -
Wigan are in reality still a fairly small club, due to the Rugby dominated town, the proximity of Liverpool and Manchester and their lack of league history. It takes a long time to build up that base, where you can still get good crowds OUTSIDE the Premier LeagueRichard J said:
It was his description of Wigan as a primarily Rugby League town which was one of the most astute observations which encouraged me.Henry Irving said:
Remember Sandgaard looked at Wigan, among others.se9addick said:
Plus I would guess that a team in a rugby league town in northern England isn’t quite the attractive investment that a team in London represents (even with all the associated madness that the cast of characters involved with us brings!).killerandflash said:Grim situation at Wigan. A major difference is that their wage bill was much higher than ours, financially they were unsustainable before the bizarre events in June
That coupled with our history of top Danish players aided our cause as did the London base.1 -
Is it though? Who else would buy it other than the RL club, and the land up there is cheap tooDazzler21 said:
You think it's only worth £9m? Their ground is £15m-£20m at least.golfaddick said:
You are also forgetting the one big issue......its a firesale. The administrator is looking to get what he can get now. Quickly. Stadium is probably worth 3 times that.Athletico Charlton said:
Way too simplistic I am afraid.sam3110 said:
Interesting, average price of a flat in nearby roads seems to be about 100-110k.Ferryman said:Wigan administrator wants £3M for the DW Stadium. While it's obviously not in Kensington, a bit of perspective on Roland's price.
Roads around the Valley appear to be 3x that on average, but new builds always put a premium on, especially ones in London by a commuter route, so expect a decent flat built on The Valley to set you back 450-500k. That would put Wigan's £3m estimate (selling cheaper than market value to ensure a deal) as quite low, and RD's probable 20m as slightly too high, I'd say Wigan for £5m and The Valley for £15m is more on the money
What is the footprint of both stadiums?
What would be the density of build you could put on both sites?
Most importantly, costs to build have a floor so if you are developing low valie homes then the cost of actually building them will be a higher % of their value and hence the land will be commensurably less valuable as developers will all wish to get 20% + profit margins.2 -
No but surely there should be something in place stopping owners selling the actual club for a £1 but keeping the actual assetsAthletico Charlton said:
Not sure this is the EFLs fault though is it? Maybe the people who bought the club should have been better differently but how could the EFL know the intentions of every owner? They certainly would not have the remit to over rule the fiduciary requirements of an administrator to seek the best return for those owed money.floydroadfaithfull said:Looks to familiar!!
Looking to sell the club for a £1 and the ground and assets separately then whoever buys for a £1 then has to rent off the new owners!!
*****Efl this has to stop now****
Get your act together
I feel hugely for Wigans fans and hope they come through this administration still intact, it looks from for them.
The only real solution would be for Govt to put some special status on football grounds which prevented their sale or forced them to be owned by Supporters Trusts in some way.0 -
I cannot see what bearing it would have on things us having signed a few players from Denmark.Richard J said:
It was his description of Wigan as a primarily Rugby League town which was one of the most astute observations which encouraged me.Henry Irving said:
Remember Sandgaard looked at Wigan, among others.se9addick said:
Plus I would guess that a team in a rugby league town in northern England isn’t quite the attractive investment that a team in London represents (even with all the associated madness that the cast of characters involved with us brings!).killerandflash said:Grim situation at Wigan. A major difference is that their wage bill was much higher than ours, financially they were unsustainable before the bizarre events in June
That coupled with our history of top Danish players aided our cause as did the London base.0 -
Well done to the both of them. Hopefully us and them will get promoted this season.MattF said:3 -
It's not even worth 9 million. It's on a shitty industrial estate in the arse end of Wigan, there is no 'luxury apartment' market in the area so no chance of building anything on it with high yields for developers, and any regeneration likely to be in the area is miles away on the other side of town towards the real shitholes like Whelley & Scholes.killerandflash said:
Is it though? Who else would buy it other than the RL club, and the land up there is cheap tooDazzler21 said:
You think it's only worth £9m? Their ground is £15m-£20m at least.golfaddick said:
You are also forgetting the one big issue......its a firesale. The administrator is looking to get what he can get now. Quickly. Stadium is probably worth 3 times that.Athletico Charlton said:
Way too simplistic I am afraid.sam3110 said:
Interesting, average price of a flat in nearby roads seems to be about 100-110k.Ferryman said:Wigan administrator wants £3M for the DW Stadium. While it's obviously not in Kensington, a bit of perspective on Roland's price.
Roads around the Valley appear to be 3x that on average, but new builds always put a premium on, especially ones in London by a commuter route, so expect a decent flat built on The Valley to set you back 450-500k. That would put Wigan's £3m estimate (selling cheaper than market value to ensure a deal) as quite low, and RD's probable 20m as slightly too high, I'd say Wigan for £5m and The Valley for £15m is more on the money
What is the footprint of both stadiums?
What would be the density of build you could put on both sites?
Most importantly, costs to build have a floor so if you are developing low valie homes then the cost of actually building them will be a higher % of their value and hence the land will be commensurably less valuable as developers will all wish to get 20% + profit margins.
The only thing that the land is good for is a stadium, and the rugby league team can't afford it.
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https://wiganathletic.com/news/2020/september/Statement-From-The-Joint-Administrators-09-09-20-/
Wigan Administrators having to ask the EFL if they can start the season
The EFL are meeting later this week with the request on the agenda...
I know its easier with no fans but like how the EFL are showing urgency here again0 -
Of course; Ipswich v Wigan is supposed to be on TV on Sunday so that'll mess with SKY's schedule if they're not allowed to play1
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Exactly! If you want to build something in this part of Wigan there's plenty of unused land all around. You don't have to buy and knock down a football stadium.Leroy Ambrose said:
It's not even worth 9 million. It's on a shitty industrial estate in the arse end of Wigan, there is no 'luxury apartment' market in the area so no chance of building anything on it with high yields for developers, and any regeneration likely to be in the area is miles away on the other side of town towards the real shitholes like Whelley & Scholes.killerandflash said:
Is it though? Who else would buy it other than the RL club, and the land up there is cheap tooDazzler21 said:
You think it's only worth £9m? Their ground is £15m-£20m at least.golfaddick said:
You are also forgetting the one big issue......its a firesale. The administrator is looking to get what he can get now. Quickly. Stadium is probably worth 3 times that.Athletico Charlton said:
Way too simplistic I am afraid.sam3110 said:
Interesting, average price of a flat in nearby roads seems to be about 100-110k.Ferryman said:Wigan administrator wants £3M for the DW Stadium. While it's obviously not in Kensington, a bit of perspective on Roland's price.
Roads around the Valley appear to be 3x that on average, but new builds always put a premium on, especially ones in London by a commuter route, so expect a decent flat built on The Valley to set you back 450-500k. That would put Wigan's £3m estimate (selling cheaper than market value to ensure a deal) as quite low, and RD's probable 20m as slightly too high, I'd say Wigan for £5m and The Valley for £15m is more on the money
What is the footprint of both stadiums?
What would be the density of build you could put on both sites?
Most importantly, costs to build have a floor so if you are developing low valie homes then the cost of actually building them will be a higher % of their value and hence the land will be commensurably less valuable as developers will all wish to get 20% + profit margins.
The only thing that the land is good for is a stadium, and the rugby league team can't afford it.
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Looks like John Sheridan is going to take over as Manager after the weekend
Bit strange seeing that Leam Richardson (despite only being temporary) has led the team through pre-season
Like Hull with their contract issues, Wigan really dont have any organisation ahead of this season!!
Even with the little things like the Management, surely sort that out first?0 -
Doesn't sound like things are getting much better at Wigan
https://wiganathletic.com/news/2020/september/Statement-From-The-Joint-Administrators-21-09-20-/
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Shows yet again that Administration brings its own problems and is not always the panacea some think But the statement does seem incorrect in at least one area in that players already under contract only count as £2k per week not the full wage.4
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I simply can not believe that someone backs out of a deal based on a rumour.MattF said:Doesn't sound like things are getting much better at Wigan
https://wiganathletic.com/news/2020/september/Statement-From-The-Joint-Administrators-21-09-20-/0 -
Baffled why it's taking so long, IF the asking price is so low. Especially as reputable buyers like Dave Whelan and the rugby club had been interested before last season finished1
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At least the Administrators are being upfront about everything1
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How the actual fuck is that a statement on an official club website???
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It’s better written than some of the statements that have been published on Charlton’s website!Leroy Ambrose said:How the actual fuck is that a statement on an official club website???6 -
Anyone know the deadline for that 15 point deduction?1
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but the administrators what their pound of flesh and so are asking a price for the club that is asking to much for buyers in the North West with so many other clubs around,0
