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Quote: Jukesays "So even though I get that there was some dodgy stuff going on, end of the day they wanted shut.
Serious question, is there a reason they went into admin rather than selling it?(obviously putting the sale to a stooge to one side) because surely if they could have, rhey would have?
It would take all week to even get near to a logical reason for administration. Fact of the matter is the ‘new’ owner wanted to pay £40M to then liquidate and it’s only the administrators currently who ‘advised’ to go the administration route, probably seeing a few quid in it for them, which is how it seems to be panning out.

And this is the bit that I find strange.
A lot of the Latics fans are making out that they were a "Well run club".
But the reality is losing around 15million a year isnt being a well run club?
And I'm not sure I can comprehend how anyone can think otherwise.
These losses are all relative when there have been assets to cover the losses. The next three years or so was going to see a huge reduction in outgoings as true youth system was now beginning to bear fruit. That’s now going to suffer as we’ve just sold three of our best. Larger contracts of senior players were winding down and being replaced by more sustainable numbers. IEC were willing to fund it and had all sorts of ground redevelopment plans to implement (full renovation under the East stand for example to grow match-day income)

I dont get why IEC bought it in the first place knowing they were likely to lose that amount, but once they had, and once they decide theyd had enough, the only way that the status quo can continue for Latics is that someone prepared to do the same?
They wanted to get to the Prem for all the untold riches they would get from being Far East-based. It seems they had enough because of the awful start to the season. Ironically, the team showed the investment in it was more than capable of challenging for the playoffs but Paul Cook completely lost his head with tactics and the team suffered. A bit like we’ve seen when Wane and Lam haven’t gone with a game plan to suit the personnel but Cook bottled it tactically on a level I don’t think I’ve seen in all my years watching the rugby or football. When he finally got it to click the results and the investment showed it could’ve paid dividends but IEC wanted out ASAP in whatever way possible.

Now it's obvious no one in this current climate fancies that otherwise it would have been sold as a package, before the administrators move in and certainly before they start selling off their main assets (The players).
To the outsiders looking in which I assume you are, you’d think it would make sense as a package but that’s only if the administrators who are in sole control are jt that way and it’s pretty clear they don’t and look like they’ll sell the assets off in bits. What makes this administration different is it was liquidation as the aim first to write off the Latics from the balance sheet but then instead it was immediately into administration with only the following monthly bills to pay. The admin process now needs all the football creditors to be paid off fully but immediately which brings forward any instalments on fees which is why players are now going for ludicrously cheap fees and Euxton being sold to PNE just to get some quick cashflow.

So I can assume, and I have no facts here, someone doant fancy inheriting the losses at that rate, and is hoping to buy them when there is no debt left and as little as possible overheads as possible left.
Which almost makes it not worth the investment to pick an ‘in name only’ club off the floor.
That what seems to be happening? A clean slate
A business model that you can start afresh with rather than a model that is losing 15million a year.
Crying foul over the sale to a stooge is fine, but if the owners wanted to dump it that's up to them however unsavoury a way theyve done it.
As bad as the administrators seemed to have turned out, the first thing they did say is they are normally walking into winding up orders, a historical trail of unpaid bills and a creditors list so big you wouldn’t know where to start. The ‘well run’ tag seems to come from all payments due have been made on time, with a good reputation in the game for meeting commitments. It’s up to individuals to decide if that’s the terms of reference for being well run but it we applied it to football and all of Super League is be surprised if there would be many teams left if owners just did a 7 day turnaround form purchase to pulling funds'"