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We might need to look for a new stadium
Post Sun Oct 15, 2017 8:49 pm
Posted by Wigan6/Leeds1 Andy on Sun Oct 15, 2017 8:49 pm
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Latics on the verge of being taken over by Chinese Group (apologies for posting links to the Scum but potential major news)

https://www.thesun.co.uk/sport/football/4690510/wigan-athletic-league-one-takeover/

EFL would need to ratify the deal and who is Chairman of the EFL?????? Potential conflict of interests depending on what might happen to stadium ownership and what that might mean to our lease agreement.
Posted by DaveO on Sun Oct 15, 2017 9:03 pm
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Wigan6/Leeds1 Andy wrote:
Latics on the verge of being taken over by Chinese Group (apologies for posting links to the Scum but potential major news)

https://www.thesun.co.uk/sport/football/4690510/wigan-athletic-league-one-takeover/

EFL would need to ratify the deal and who is Chairman of the EFL?????? Potential conflict of interests depending on what might happen to stadium ownership and what that might mean to our lease agreement.


So being taken over allows you to rip up contracts such as lease agreements? Don't you have to transfer all current assets, liabilities and contracts in a takeover otherwise what stops any company from using a "takeover" to walk away from previous agreements?
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Posted by Wigan6/Leeds1 Andy on Sun Oct 15, 2017 9:26 pm
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DaveO wrote:
So being taken over allows you to rip up contracts such as lease agreements? Don't you have to transfer all current assets, liabilities and contracts in a takeover otherwise what stops any company from using a "takeover" to walk away from previous agreements?


Depends how the lease contract is drafted and what the break clauses are. The stadium might not even be part of the deal and stays with Whelan - interesting times ahead.
Posted by hengirl on Sun Oct 15, 2017 9:31 pm
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DaveO wrote:
So being taken over allows you to rip up contracts such as lease agreements? Don't you have to transfer all current assets, liabilities and contracts in a takeover otherwise what stops any company from using a "takeover" to walk away from previous agreements?

It would depend I assume on wether the new owners, if indeed there are any of course deem the deal worthwhile, their aim will be the premiership again I'd think (if they get there is another issue)they may just feel that rugby isn't worth the hassle.

I'd assume there are clauses on both sides to walk away in any number of circumstances? and be very surprised if there wasn't frankly.
Posted by muttywhitedog on Sun Oct 15, 2017 9:59 pm
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Maybe IL should put in a bid for the stadium and then charge these rich Chinese investors top dollar to play football there!
Posted by DaveO on Sun Oct 15, 2017 10:21 pm
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Wigan6/Leeds1 Andy wrote:
Depends how the lease contract is drafted and what the break clauses are. The stadium might not even be part of the deal and stays with Whelan - interesting times ahead.


I thought the stadium was owned by a separate company but that was effectively owned by latics. I am fairly certain a few years ago DW gave the stadium ownership over to latics in some way or other.
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Posted by Trainman on Mon Oct 16, 2017 7:25 am
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Hopefully the new owners will want to rip up the lease agreement and as part of the deal build us a nice stadium of our own.
Posted by RichieS on Mon Oct 16, 2017 7:32 am
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Could be a blessing in disguise...a purpose built stadium solely for us is what the club deserves
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Posted by Grimmy on Mon Oct 16, 2017 7:59 am
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I'm missing something here. Why would this mean we would need to look for a new stadium? Surely:

a - We still have a contract to play in the stadium
b - It would be in their interests for us to play in the stadium anyway, as we will be contributing to costs and move whenever we are told to anyway.
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Posted by Wigan6/Leeds1 Andy on Mon Oct 16, 2017 9:15 am
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DaveO wrote:
I thought the stadium was owned by a separate company but that was effectively owned by latics. I am fairly certain a few years ago DW gave the stadium ownership over to latics in some way or other.


Yes it's still a separate company that runs the stadium - Wigan Football Company LTD, this hasn't change since the stadium was built. Whelco was the ultimate parent company for all his football business dealings, he simply liquidated this and set up a new parent company called Wigan Athletic Holdings Ltd. The Latics are run as Wigan Athletic AFC Ltd. It looks like nothing really changed in terms of ownership.

Both the Latics and Wigan RL have a lease to rent the stadium.

In the end it all depends on what the potential new owners are buying.
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