| FORUMS > Wigan Warriors > Boston stand no more |
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| Moderator | 14324 | |
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| Dec 2001 | 23 years | |
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Moderator
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| Quote: TheWarringtonWolve69 "Wigan rugby club has an excess of liabilities over assets of £5.8m. Ergo, when any form of financing is applied for with a financial institution the box that says “is the company insolvent” is ticked.
The whole group that Wigan rugby club is part of is now insolvent too and is being propped up by a loan and guarantees from IL personally.
He could convert this loan to share capital like McManus did, effectively writing it off and putting the company into better shape but he doesn’t have the affinity with the club like McManus does with Saints and is obviously hoping to get the money back at some point. Nothing wrong with that. The only feasible way for this to occur is for someone to buy the club, but given the financial position of the club the only hope is for some mega rich Wigan fan wanting it as his toy, like Coleman has done at saints, because there is no way anyone would buy a rugby club with the aim of making money'"
Probably best to read Accounting for Dummies and the last financial report before you embarrass yourself more than you usually do. |
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| Club Owner | 7779 | |
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| Mar 2004 | 21 years | |
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| Quote: Ruddy Duck "The Warriors will never have a Stadium of their own in Wigan as the Council will never allow one which was proved in the late nighties, when they refused to help the club by not providing one of the suggested sites at Pemberton and Wheatlea.
As far as they are concerned, the DW Stadium with its capacity of 25,000 is adequart for both clubs.
No wonder, supporters of other big clubs like Hull FC, Leeds, St Helens, Warrington etc are amused by what has happened to Wigan Warriors where ownership of its Stadium is concerned.'"
Hull???? |
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| International Star | 4470 | |
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| Jan 2013 | 12 years | |
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| Quote: Jukesays "Hull????'"
What with his love for all things historical, maybe he still thinks they play at The Boulevard. |
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| Club Captain | 6674 |  |
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| Mar 2018 | 7 years | |
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| Quote: Egg Chasing "What with his love for all things historical, maybe he still thinks they play at The Boulevard.'"
I wish  |
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| Player Coach | 15259 | No
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| Jan 2006 | 19 years | |
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| Quote: Jukesays "Hull????'"
I was going to say.
He seriously needs to do some research. |
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| Club Captain | 902 | No
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| Feb 2020 | 5 years | |
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| Quote: TheWarringtonWolve69 "Wigan rugby club has an excess of liabilities over assets of £5.8m. Ergo, when any form of financing is applied for with a financial institution the box that says “is the company insolvent” is ticked.
The whole group that Wigan rugby club is part of is now insolvent too and is being propped up by a loan and guarantees from IL personally.
He could convert this loan to share capital like McManus did, effectively writing it off and putting the company into better shape but he doesn’t have the affinity with the club like McManus does with Saints and is obviously hoping to get the money back at some point. Nothing wrong with that. The only feasible way for this to occur is for someone to buy the club, but given the financial position of the club the only hope is for some mega rich Wigan fan wanting it as his toy, like Coleman has done at saints, because there is no way anyone would buy a rugby club with the aim of making money'"
You’ve mentioned Saints there a fair few times bell end? |
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| Rank | Posts | Team |
| International Star | 4470 | |
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| Jan 2013 | 12 years | |
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| Quote: DallasMead2 "You’ve mentioned Saints there a fair few times bell end?'"
Well he is a Saints fan.
Seems to be unaware of their current debt levels though. |
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| Feb 2003 | 22 years | |
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Out of interest how did Wigan acquire Robin Park as its HQ?
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| Club Owner | 7779 | |
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| Mar 2004 | 21 years | |
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| Quote: post "Fag packet sums.
5 million from the Council.
8 million from IL inc Orrell money
2 million Danson
5 million loan'"
You've convinced me, sounds like a solid Business plan
Let me know when it's all sorted  |
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| International Star | 4470 | |
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| Jan 2013 | 12 years | |
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| Quote: dany1979 "Out of interest how did Wigan acquire Robin Park as its HQ?'"
I think they arranged a leasehold with the council to have everything under one roof as well as an indoor facility rather than having to travel between orrell, dw and pem. |
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| Club Coach | 29773 | |
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What’s the deal with Orrell? Did we sell it in the end or is it a bit of a duff for us? I expected the land to go for fortunes but wasn’t there some talk that planning permission could not be gained to build on it?
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| Fringe Player | 1219 |  |
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| Aug 2021 | 3 years | |
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| Quote: Egg Chasing "Well he is a Saints fan.
Seems to be unaware of their current debt levels though.'"
Unlike Wigan, St Helens arent balance sheet insolvent. Nor do the auditors of St Helens have a material uncertainty about going concern, unlike the Auditors of wigan.
Comparing Saints credit file with that of Wigans makes for interesting reading..... |
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| International Chairman | 1470 | |
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| Dec 2001 | 23 years | |
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| Jan 1970 | Jun 2022 | LINK |
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| Quote: Jukesays "Hull????'"
If you mean Hull FC, they are.
As proved by the many good players they have had over the years!
Johnny Whiteley, Clive Sullivan, Peter Stirling and the Drake Brothers being just five examples! |
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| Club Owner | 7779 | |
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| Mar 2004 | 21 years | |
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| Nov 2024 | Oct 2024 | LINK |
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| Quote: Ruddy Duck "If you mean Hull FC, they are.
As proved by the many good players they have had over the years!
Johnny Whiteley, Clive Sullivan, Peter Stirling and the Drake Brothers being just five examples!'"
Pardon me But - What the Hell are you on about?
What's Hull having had some good players in the past got to do with them laughing at us over our stadium situation?
Quick reminder of your original statement
Quote: Ruddy Duck "The Warriors will never have a Stadium of their own in Wigan as the Council will never allow one which was proved in the late nighties, when they refused to help the club by not providing one of the suggested sites at Pemberton and Wheatlea.
As far as they are concerned, the DW Stadium with its capacity of 25,000 is adequart for both clubs.
No wonder, supporters of other big clubs like Hull FC, Leeds, St Helens, Warrington etc are amused by what has happened to Wigan Warriors where ownership of its Stadium is concerned.'"
Hull's stadium situation has been as difficult as ours for the past 15 years or so
Please explain your reply - Makes no sense
Or does your keyboard only have random copy & paste facilities were you insert one of 5 random replies that usually include Reply then "Gang of 4" - Reply then "Back in 80's/90's" - Reply then "Dave Whelan's Fault for Ground situation" - Reply then "Is it any wonder given Wigan's current financial situation & Blame IL&KR for Financial situation" - Reply then take opposite stance and claim 90% of Wigan fans think like that.
Genuinely Baffled |
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| Rank | Posts | Team |
| International Star | 4470 | |
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| Jan 2013 | 12 years | |
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| Oct 2024 | Oct 2024 | LINK |
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| Quote: TheWarringtonWolve69 "Unlike Wigan, St Helens arent balance sheet insolvent. Nor do the auditors of St Helens have a material uncertainty about going concern, unlike the Auditors of wigan.
Comparing Saints credit file with that of Wigans makes for interesting reading.....'"
What is this list of concerns and debts that Wigan have?
You forgot to tell us under your last username, will this one be any different? |
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