FORUMS > Wigan Warriors > Boston stand no more |
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| Quote: TheWarringtonWolve69 "Good luck finding a financial institution that will lend money to an insolvent company to build an asset that is worthless on the open market'"
Please explain how wigan are insolvent and how wires managed to build a ground in this case?
The talk of building our own ground is daft when there is already a perfectly good one in the town which the two teams simply need to work together on, but your statement is equally as stupid
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| Quote: afootingmiracle21-12 "Please explain how wigan are insolvent and how wires managed to build a ground in this case?
The talk of building our own ground is daft when there is already a perfectly good one in the town which the two teams simply need to work together on, but your statement is equally as stupid'"
Wigan rugby club are insolvent to the tune of £5.8million.
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| Quote: TheWarringtonWolve69 "Wigan rugby club are insolvent to the tune of £5.8million.'"
It’s “Wolf” you plank!
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Club Owner | 7779 | |
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Mar 2004 | 21 years | |
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| Quote: Riderofthepalehorse "It’s “Wolf” you plank!'"
He's a saints supporting, multiple account holding, name changing Troll
Don't fall for the latest incarnation
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| Quote: TheWarringtonWolve69 "Good luck finding a financial institution that will lend money to an insolvent company to build an asset that is worthless on the open market'"
Probably better to actually know the meaning of big words before incorrectly using them.
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Player Coach | 5193 | No Team Selected |
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Jan 2006 | 19 years | |
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| Quote: Grimmy "Sorry you're absolutely right. It definitely makes financial sense to buy OSJ a new ground and build a second stadium in Wigan. Just add the £20m onto the losses we are already making, then add the stadium running costs onto those losses too. Are we building a train station at the ground as well by the way? Because Orrell train station to Orrell St James is the same distance as Wigan Wallgate to the DW. Just add that onto the losses too.
Of course Latics would still be effectively deciding when we play as there isn't a chance in hell that the police would allow us to play on the same day, they don't even let Bolton and Latics play on the same day, but at least it won't get boggy and we can have cherry and white seats, makes it all worth it.'"
That's the spirit.
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Player Coach | 5193 | No Team Selected |
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Jan 2006 | 19 years | |
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| Quote: Ruddy Duck "At a time when people in Wigan including no doubt the Council, are trying to get the supporters of both clubs to be closer together as a result of playing in a joint stadium, along comes a multi millionaire new owner of the Latic's to scuttle what may have already been acheived.
I had no real time for Whelan, but at least he named the East Stand after Wigan's most famous Rugby League player, incorporated the main colours of both clubs in the seating, give a long tem least and to my knowledge never increased the rental for use of the Stadium.
Perhaps. this new owner who is not even a resident of our country needs to be educated on what the name of Boston and a joint Stadium means to the people and the town of Wigan.
Just downright plain ignorance by him as far as I am concerned!'"
I don't think he gives a flying toss about the club, town or Country. His PR team are pushing his profile as if he is buying into the Town but its comes across a little Alan Partridgesque. Did you not see him having his picture eating a pie? He may as well have been tucking into a fresh dog turd.
So we contribute £1,000,000 a year by using the JJB and maybe causing issues with the pitch, maybe by playing there in the summer we are stopping the stadium holding concerts?
The new owners are spunking £1,000,000 a month to keep the club afloat? Do you think they'll miss our 'peppercorn rent' that IL seems so pleased to be paying? The writing is on the wall, we will be out on our ears should this new owner stick around long enough.
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Player Coach | 5193 | No Team Selected |
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Jan 2006 | 19 years | |
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| Quote: TheWarringtonWolve69 "Good luck finding a financial institution that will lend money to an insolvent company to build an asset that is worthless on the open market'"
How is it worthless? The Council will spend money on disused shopping centres so I'm sure they could stump up part of the cost to go with ILs money. I doubt we'd have to borrow too much. Having autonomy over a stadium could bring in revenue streams for the club that would get us in profit.
Next year is our 150th year since we started out, I'm sure there's plenty time to pay it back. Building a stadium somewhere with good rail and motorway links could be used as a venue for concerts, back in the mid-90s when the DW was designed nobody did stadium tours as they have done this last 10 years. The DW only has corporate in the West stand, thats another money maker.
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Player Coach | 5193 | No Team Selected |
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Jan 2006 | 19 years | |
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| Quote: Jukesays "Where's the 20million plus coming from ?
I'll leave the Hundred or other so problems until you've answered this one
(PS - The longer answer to this question has been done a million times - I'm just not what the purpose of constantly raising this is, how does it help?).'"
Fag packet sums.
5 million from the Council.
8 million from IL inc Orrell money
2 million Danson
5 million loan
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International Star | 4470 | |
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| Are they the same IL and Danson who have said they won't be paying for a new stadium?
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International Board Member | 1414 | No Team Selected |
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Aug 2002 | 22 years | |
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| Quote: post "I don't think he gives a flying toss about the club, town or Country. His PR team are pushing his profile as if he is buying into the Town but its comes across a little Alan Partridgesque. Did you not see him having his picture eating a pie? He may as well have been tucking into a fresh dog turd.
So we contribute £1,000,000 a year by using the JJB and maybe causing issues with the pitch, maybe by playing there in the summer we are stopping the stadium holding concerts?
The new owners are spunking £1,000,000 a month to keep the club afloat? Do you think they'll miss our 'peppercorn rent' that IL seems so pleased to be paying? The writing is on the wall, we will be out on our ears should this new owner stick around long enough.'"
Talal is only the public face of the company who actually own Latics. I don’t think Mr Al-Jasmi has been over to the UK yet but I may be wrong. Compared to the Hong Kong owners, there seems to be a far better structure in place and renovations of the DW commercial-wise will probably start towards the end of the football season from memory.
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Fringe Player | 1219 | |
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Aug 2021 | 3 years | |
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| Quote: Wigan6/Leeds1 Andy "Probably better to actually know the meaning of big words before incorrectly using them.'"
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
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Player Coach | 1351 | No Team Selected |
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Jul 2005 | 19 years | |
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| Quote: TheWarringtonWolve69 "Quote: TheWarringtonWolve69 "Probably better to actually know the meaning of big words before incorrectly using them.'"
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'"
Out of curiosity which Pseudonym does your wife/mother/sister refer to you by
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International Star | 4470 | |
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Jan 2013 | 12 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'"
At least the last line was factual
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International Chairman | 1470 | |
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| 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.
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