| FORUMS > Wigan Warriors > Whelan to pull out |
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| Quote: TrentBarrett "As posted previously
"Contracts have duration's so what happens if at the end of the contract Latics are struggling in the Championship or League 1 with low revenue? The simple answer would be to charge us more for rent, it's a basic concept really."'"
So you're talking about a contract renewal sometime in the future - no-one knows how long the current one lasts. Given that everyone already knew that Latics were unlikely to survive in the premier league in the long run (they have done remarkably well to survive so long), and that we are presumably paying a commercial rate currently, and that IL knew that when the contract is renewed the Latics may have gone t-ts up, what's there to worry about? |
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The whole process of getting into bed with the soccer team has lead to the subjugation of WWRLFC. This link-up with the RU club is going to make things even worse; a feeder club for Saracens RU that play, cap-in-hand, at Latics' stadium.
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| Quote: Deano G "I take it you're assuming that the football club own the ground, rather than the stadium company, which I don't think has happened yet.
If it did I'm not sure how the receivers could lock us out, assuming of course that there is a binding agreement for us to use the ground, the receivers would be bound by that.
You do have a point however in that the receivers could sell the ground and if we didn't have a lease then a purchaser would buy it free from the rugby club's rights under the agreement to use the ground.
Having said that though, the receivers job is to realise value. If Latics have been relegated the football club will be relatively worthless, along with the stadium (if you doubt this, bear in mind that Mandaric bought Sheffield Wednesday - a vastly bigger football club, with a 40,000 seat stadium - at the back end of last year for £1 and paid £7m to settle the club's debt to the Bank, that's £7m for a big club and a big stadium).
The only people interested in paying anything substantial for either Latics or the stadium in an insolvency situation would I suspect be IL.
It might even make financial sense at some point in the future for DW or his family to realise some value in the football club by selling the stadium (and possibly the club) to IL, even if it avoids going bust.'"
Interesting to see what Deano put regarding Mandaric getting Sheffield Wednesday for £7 million,just look what has just happened with Comet.
Comet sold for just £2
November 9, 2011
"Troubled electricals retailer Comet has been sold for mere £2 by parent company Kesa Electricals. The retail chain has been sold to well-known turnaround specialists OpCapita, who reassured employees that they do not plan to make redundancies or close stores.
Under the sale, Kesa has agreed to provide a £50m dowry and OpCapita will invest a further £30m as they look to attempt to revive the fortunes of Comet over the next 18 months".
One can only dream but maybe Mr Whelan will give us £5 milion to take the stadium off his hands. |
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| Quote: Mr Partridge "Has he actually handed the stadium over to Latics? I'm sure Whelco are the major shareholders in the stadium and both us and Latics pay rent to them.'"
Yeah he did last year.
Quote: Mr Partridge "Contracts have duration's so what happens if at the end of the contract Latics are struggling in the Championship or League 1 with low revenue? The simple answer would be to charge us more for rent, it's a basic concept really.'"
I don't think it's that simple. IL wouldn't have agreed to a contract like this if there wasn't some kind of fixation in the rent. Otherwise Latics could start charging us ridiculous amounts and we'd be without a ground. |
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Whelan will still be pulling the strings when he's on his Barbados death-bed. Like most of his comments that get reported in the press it's just a way to attract attention and drum up some interest for the football club and his latest business interest.
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| Quote: jaws1 "Did IL say at FF I that Warriors had now a 50 year license .?'"
Still 25 years according to the latest published account in August. |
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Strange on this seeing as he had previously said he didn't want his family to be involved and that is why he was selling up.
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[b:2boqkfe7][color=#800000:2boqkfe7]WIGAN RLFC - SL ERA
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| Quote: Conroy "Strange on this seeing as he had previously said he didn't want his family to be involved and that is why he was selling up.'"
No interested buyers? Times running out and he'd rather spend more time on a Barbados beach (who'd blame him), what else can he do? |
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| Quote: MattyB "No interested buyers? Times running out and he'd rather spend more time on a Barbados beach (who'd blame him), what else can he do?'"
I told him I'd buy it for a quid but he didn't seem interested. |
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| Quote: Conroy "I told him I'd buy it for a quid but he didn't seem interested.'"
You should have met him half-way and offered £1.50. |
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Nothing will change at Latics or for us.
Whelan didn't want to burden his family with the club as it was losing millions per season, but due to changes over the last couple of years it is now on the verge of breaking even and it's debt took off the balance sheet with a share issue. This of course means the team is not as strong but then again they're not the only local team finding it increasingly difficult to stay up, the only question is how long it will take the rest of the league to give up on the hope of challenging United or City, or even the honour of playing teams few have heard of in the Europa League.
This guy is only in his early twenties and runs Vizwear, or someone probably helps him as would happen at the football club. This is good news for both clubs IMO if both can continue as successful businesses at a relatively high level in their respective sports everyone wins. Only Wigan people care about Wigan clubs and that goes for the owners too, we've seen how even the history of Livepool and United is treated with disregard by US owners so what would they care about our clubs.
This is the source of the story.
www.fcbusiness.co.uk/eversion/is ... index.html |
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Nothing will change at Latics or for us.
Whelan didn't want to burden his family with the club as it was losing millions per season, but due to changes over the last couple of years it is now on the verge of breaking even and it's debt took off the balance sheet with a share issue. This of course means the team is not as strong but then again they're not the only local team finding it increasingly difficult to stay up, the only question is how long it will take the rest of the league to give up on the hope of challenging United or City, or even the honour of playing teams few have heard of in the Europa League.
This guy is only in his early twenties and runs Vizwear, or someone probably helps him as would happen at the football club. This is good news for both clubs IMO if both can continue as successful businesses at a relatively high level in their respective sports everyone wins. Only Wigan people care about Wigan clubs and that goes for the owners too, we've seen how even the history of Livepool and United is treated with disregard by US owners so what would they care about our clubs.
This is the source of the story.
www.fcbusiness.co.uk/eversion/is ... index.html | |
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BANG THE DRUM.............BARMY ARMY:Dwarfs, Gnomes, Halflings/HAFLING2.JPG |
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| Quote: stillinthepast "In todays Sunday Express Dave Whelan revealed that he intends to step down from Wigan Athletic and hand control to his 21 year old grandson.
He goes on to say it will be officially announced tomorrow in the latest issue of the FC Buisiness Magazine (trade mouthpiece for the football industry)
He also says that his grandson is bright boy and massively keen on soccer,Whelan then says that he may step down as early as the end of the present soccer season.
What effect do Wigan fans think his decision to step down will have on the Warriors?.'"
no effect
but hes a hypocrite
in a sky sports interview 2 years ago he said he was looking for a buyer, as he didnt want his family inheriting his debt..ie shatics |
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| Quote: RLForever88 "Nothing will change at Latics or for us.
Whelan didn't want to burden his family with the club as it was losing millions per season, but due to changes over the last couple of years it is now on the verge of breaking even and it's debt took off the balance sheet with a share issue. This of course means the team is not as strong but then again they're not the only local team finding it increasingly difficult to stay up, the only question is how long it will take the rest of the league to give up on the hope of challenging United or City, or even the honour of playing teams few have heard of in the Europa League.
This guy is only in his early twenties and runs Vizwear, or someone probably helps him as would happen at the football club. This is good news for both clubs IMO if both can continue as successful businesses at a relatively high level in their respective sports everyone wins. Only Wigan people care about Wigan clubs and that goes for the owners too, we've seen how even the history of Livepool and United is treated with disregard by US owners so what would they care about our clubs.
This is the source of the story.
Thanks for that. A very interesting read.
The Tics' have the highest dependency on TV rights - a staggering 88% of their revenue is made up from it  and they have the smallest commercial income in the Premier League at £1.5m.
This all says to me that they've had their impressive, but ultimately meager swansong in the Premier League however they are a club that belongs in the lower divisions. It's time for that inevitability to come to fruition.
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[quote="king warrior":prbr924b]Adam Blair flew over yesterday and has been training the deal is going to be signed this week
Got to say this is a top signing[/quote:prbr924b]:d7dc4b20b2c2dd7b76ac6eac29d5604e_16493.jpg |
Moderator
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| Quote: wigan pie man "no effect
but hes a hypocrite
in a sky sports interview 2 years ago he said he was looking for a buyer, as he didnt want his family inheriting his debt..ie shatics'"
He's paid the debt off though. If there's no one interested in buying it, he's got no choice but to give it to family. |
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who cares...
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