Wigan: Directors Say 12 Parties Interested in Buying a Championship Club | Football News

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Wigan to Receive 12 Point Penalty by EFL After Entering Administration

Wigan Athletic administrators say 12 parties have expressed an interest in buying the championship club and must now demonstrate that they have at least £ 10 million in funds to advance the negotiations.

Wigan joined the administration on Wednesday, the first professional club to do so following the coronavirus pandemic, and is expected to receive a 12 point penalty from the EFL.

Paul Stanley, Gerald Krasner and Dean Watson of Begbies Traynor have been appointed joint administrators of the club, and Krasner says there has been significant interest in the purchase of the Latics.

“Realistically, I have 12 interested parties who have already emailed me,” he said.

“I’m going to send out nondisclosure agreements today and ask for proof of funds because you have very special people who want to buy football clubs that have no money. “

Interested parties must demonstrate that they have funds of at least & # 163; 10m to start negotiations to buy the club

Interested parties must demonstrate that they have at least £ 10 million in funds to enter into club purchase negotiations

“When they come back with proof of funds, these people will get details of what is for sale and then serious negotiations will start, so hopefully by the end of July – the end of the season – have some serious interested parties board.

“What I predicted yesterday was that we would have 30 interested parties and if I can reduce it to two, I will be very happy. The more I would be delighted. ”

When asked what would be an appropriate offer for Wigan, Krasner added, “They have to prove funds of at least £ 10 million.

“Would I take £ 10 million today for everything? No. ”

Krasner said he had previously assessed Latics manager Paul Cook and said he would not interfere in the team’s affairs.

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Football finance expert Kieran Maguire said Wigan had financial problems before the coronavirus crisis, but were “magnified” by the global pandemic

Football finance expert Kieran Maguire said Wigan had financial problems before the coronavirus crisis, but were “magnified” by the global pandemic

The club is currently 14th with six games left. If they finish outside the last three, the 12 point deduction – if not appealed – would apply to the 2019-20 table. If they are relegated, the deduction would apply at the start of their 2020-2021 League One campaign.

Krasner did not rule out the possibility of an appeal, adding, “There are appeal rights in unusual circumstances, this is called force majeure.

“I have not yet received the letter from the Football League, I saw what they said publicly, but until I saw the letter and considered it with my lawyers, I don’t know how we’re going to deal with this and i couldn’t tell you today what’s going to happen. ”

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Former Wigan Athletic President David Sharpe said the timing of the club’s administration was “bizarre and shocking”

Former Wigan Athletic President David Sharpe said the timing of the club’s administration was “bizarre and shocking”

A deal to sell Hong Kong-based International Entertainment Corporation’s Wigan to the Next Leader Fund was not officially made until June 4, and Leeds United former president Krasner said the events of the past few weeks must to be examined.

Asked about the unusual nature of a club under administration four weeks after a sale, he replied: “I think this is a first and that it will have to be examined in due time.

“But my priorities right now are to sell this club and make sure we get to the end of the season so that there is a club next season.

“Every administration I have been involved in – and even Leeds United which was not an administration – has its peculiarities. But I think four weeks is a record that will last a while. “

“Other clubs may not survive”

Krasner believes that a number of other Football League clubs could join the administration, including another Championship team.

“My company does a football health check every December, and by December 2019 everything was fine, but the world has changed,” he said.

“Everything we thought of the world of football is gone.

“I personally think there are a number of clubs in the lower divisions, Ligue 1 and Ligue 2, who might not survive on returning.

“There may be another championship club that could seriously consider doing the same. “

Brown: The situation is extremely strange

Former Wigan midfielder Michael Brown is surprised that the club entered the administration so soon after being taken over.

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Former Wigan player Michael Brown surprised that club entered administration so soon after being taken over

Former Wigan player Michael Brown surprised that club entered administration so soon after being taken over

He said: “At the end of May, there was a takeover, a new company was created and an existing director was transferred, but no one really knows who is actually part of that company and who are the owners.

“I think the people in the club still don’t know who the owners are. It is extremely strange that the EFL managed to pass. There was money promised last week to try to prevent that from happening. ”

“But that did not happen and, of course, the club joined the administration. Very, very sad. “

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