Quote: martinbuckley "I wouldnt be too sure. At the end of the 2009-10 season, the Guardian did an article on what debt levels were in the Premier League. Latics total turnover was £43m (of which £37m came from the TV pot) and their expenditure on wages was 91% - only beaten by Man City. Their only saving grace was that of the £73m debt, they only paid £900,000 in interest, largely because their debt is to Whelan. Even then, they posted an overall loss of £4m.
The parachute payments are now over 4 years - £16m in Y1 & 2, with £8m in Y3 & 4. Notwithstanding, that leaves a £21m shortfall in Y1, which can only be made up by cutting wages and selling players - something that any potential new owner is going to consider when making an offer.'"
The debt being to Whelan is the key point. Theres no debtor there that will call in their money and close them down. Half the squad will be instantly off contract if they get relegated anyway.
I would be straight on the phone to IL to donate the stadium to Wigan RL.
