[erniemossity]

dim view, on 21 July 2020 - 09:55 AM, said:

Is auditing deteriorating into an shady profession?
Why would one allow that to happen?

Ask our lot 🙂

[Siberian Spireite]

mr. smith, on 20 July 2020 - 09:36 PM, said:

Being investigated for selling the ground to the owner (Derby also in trouble for doing this). Been rumbling on most of season. Couple of my mates who support Wednesday are bricking it as it’d mean relegation.
Think the elf have left it late to do anything this season. More likely to start next season on a minus figure.

Though Derby are not threatened with relegation, the more rational among my Derby-supporting mates seem to think they will get away with their stadium-shifting shenanigans.

[JonB]

60s 70s Spireite, on 21 July 2020 - 09:16 AM, said:

Slightly more complicated than that. They sold the ground to the owner, but recorded it in their accounts a financial year earlier so enabling them to make a profit and comply with financial FairPlay rules.

I also believe its complicated by the fact the EFL by all accounts told Wednesday they were ok to do it but then investigated it when some other clubs and in particular Middlesbrough kicked off about it. This is the main reason that Wednesday think they wont have any issues and are all set to go to court over it.

[60s 70s Spireite]

dim view, on 21 July 2020 - 09:55 AM, said:

Is auditing deteriorating into a shady profession?
Why would one allow that to happen?

Depends how sophisticated the alleged fraud was. Is there (falsified?) supporting evidence that the contract for the sale was agreed in the previous year?

[spireitetoo]

Good luck tonite wigan/cookie, thoroughly enjoyed my trip there a few yrs back now, such a friendly welcoming club and staff,...

[Andrews]

A potential buyer has come forward today and the administrators are to hold a meeting with them

[Sammy Spireite]

Andrews, on 22 July 2020 - 01:30 PM, said:

A potential buyer has come forward today and the administrators are to hold a meeting with them

Several buyers came forward almost straight away and the Admin have now selected the one they want to proceed with, 3-4 week process exiting admin though.

They've already lodged an appeal to the 12 point deduction, although if the results toinight mean they would stay up even with a 12 point deduction, theyd be better off withdrawing the appeal and taking the points hit.

Given the links with several other jobs, Cookie might be one of the assets the Admins 'sell off' to meet the short term bills, though.

[The Earl of Chesterfield]

Sammy Spireite, on 22 July 2020 - 02:05 PM, said:

Several buyers came forward almost straight away and the Admin have now selected the one they want to proceed with, 3-4 week process exiting admin though.

They've already lodged an appeal to the 12 point deduction, although if the results toinight mean they would stay up even with a 12 point deduction, theyd be better off withdrawing the appeal and taking the points hit.

Given the links with several other jobs, Cookie might be one of the assets the Admins 'sell off' to meet the short term bills, though.

Easy as that, eh.

Club goes into admin, folk come forward, then the club's promptly sold.

And whilst Wigan have a decent stadium (though how does them sharing it with the rugby club stack up? Is it included in the deal or just the football club?) it's not as if they've ever really filled it regularly.

Especially if it's hosting L1 football next season.

Nowt against Wigan (loved how they celebrate the town's links to Northern Soul last time I went) but maybe it puts our own 'hokey-cokey' sale into some sort of perspective...

[Mr Mercury]

Sammy Spireite, on 22 July 2020 - 02:05 PM, said:

Several buyers came forward almost straight away and the Admin have now selected the one they want to proceed with, 3-4 week process exiting admin though.

They've already lodged an appeal to the 12 point deduction, although if the results toinight mean they would stay up even with a 12 point deduction, theyd be better off withdrawing the appeal and taking the points hit.

Given the links with several other jobs, Cookie might be one of the assets the Admins 'sell off' to meet the short term bills, though.

If that was the case Sammy then the 12 point deduction will come into force next season.

[Johnnyspireite7]

Mr Mercury, on 22 July 2020 - 04:04 PM, said:

If that was the case Sammy then the 12 point deduction will come into force next season.

I thought it was the other way around, if they finished in the relegation places anyway that the 12 point deduction would be the following season, if they were 12+ points above the drop zone it would be applied this season.

[lindave]

Johnnyspireite7, on 22 July 2020 - 04:13 PM, said:

I thought it was the other way around, if they finished in the relegation places anyway that the 12 point deduction would be the following season, if they were 12+ points above the drop zone it would be applied this season.

And that's how it it should be.

[Andrews]

Just on the news that the prospective new owners were contacted yesterday and they have until 12 noon tomorrow to say whether they wish to proceed or not, if they do then all of the paperwork will be finalised by 31st July

[clarevoyant.]

Andrews, on 22 July 2020 - 05:25 PM, said:

Just on the news that the prospective new owners were contacted yesterday and they have until 12 noon tomorrow to say whether they wish to proceed or not, if they do then all of the paperwork will be finalised by 31st July

The marvels of a Lancashire Hot Pot compared to a Yorkshire Pudding

[Mr Mercury]

Johnnyspireite7, on 22 July 2020 - 04:13 PM, said:

I thought it was the other way around, if they finished in the relegation places anyway that the 12 point deduction would be the following season, if they were 12+ points above the drop zone it would be applied this season.

If the 12 point deduction makes no difference to which division they would be in the next season then it is held over.
Hence if they finish in the relegation places anyway OR they finish 13 points above relegation then the points deduction is held over to the start of the following season.
If they finish 11 points above the relegation then the 12 point deduction is applied and they are relegated.
Edit this was brought in to stop teams going into administration and taking the 12 point hit immediately knowing they were mathematically safe even with the minus 12 points.

This post has been edited by Mr Mercury: 22 July 2020 - 07:19 PM

[mr. smith]

Mr Mercury, on 22 July 2020 - 07:16 PM, said:

If the 12 point deduction makes no difference to which division they would be in the next season then it is held over.
Hence if they finish in the relegation places anyway OR they finish 13 points above relegation then the points deduction is held over to the start of the following season.
If they finish 11 points above the relegation then the 12 point deduction is applied and they are relegated.
Edit this was brought in to stop teams going into administration and taking the 12 point hit immediately knowing they were mathematically safe even with the minus 12 points.

acc to the 5live commentators the 12pts deduction comes in at full time tonight, dependant on wigans appeal against it.

[Mr Mercury]

mr. smith, on 22 July 2020 - 07:32 PM, said:

acc to the 5live commentators the 12pts deduction comes in at full time tonight, dependant on wigans appeal against it.

Shocking then if true!

[60s 70s Spireite]

Mr Mercury, on 22 July 2020 - 07:16 PM, said:

If the 12 point deduction makes no difference to which division they would be in the next season then it is held over.
Hence if they finish in the relegation places anyway OR they finish 13 points above relegation then the points deduction is held over to the start of the following season.
If they finish 11 points above the relegation then the 12 point deduction is applied and they are relegated.
Edit this was brought in to stop teams going into administration and taking the 12 point hit immediately knowing they were mathematically safe even with the minus 12 points.

Not per the BBC.
Wigan will incur a 12-point deduction at the end of the season for entering administration. The sanction only comes into force after the campaign is over because, had Wigan finished in the bottom three anyway, it would be carried over to 2020-21.
It was brought in to stop teams already relegated entering admin and taking a 12 points deduction the same season.
If they escape relegation even after a 12 point deduction that’s the end of the penalty

[Spireite93]

Mr Mercury, on 22 July 2020 - 07:34 PM, said:

Shocking then if true!

Showing on Sky too that they avoid relegation even with points deduction.

Not sure why it's shocking, the EFL have confirmed it will apply this season, only caveat was if they went down anyway it would be carried over, seems the fairest way?

What if they stayed up next season despite the deduction too, would it just keep rolling over until it does relegate them?

[Misnomer]

As it stands, Wigan are going down (pending the appeal)

[Mr Mercury]

Spireite93, on 22 July 2020 - 07:41 PM, said:

Showing on Sky too that they avoid relegation even with points deduction.

Not sure why it's shocking, the EFL have confirmed it will apply this season, only caveat was if they went down anyway it would be carried over, seems the fairest way?

What if they stayed up next season despite the deduction too, would it just keep rolling over until it does relegate them?

If they'd stayed up next season with the points deduction then fair enough, the rule has changed then.