Thursday, October 21, 2021
Home Game Wigan: 12 interested parties, proof of £10m funds needed

Wigan: 12 interested parties, proof of £10m funds needed

“They’ve got to prove funds of a minimum of £10m,” says joint administrator Gerald Krasner

Last Updated: 02/07/20 11:08am

Wigan will be handed a 12-point penalty by the EFL after entering administration

Wigan will be handed a 12-point penalty by the EFL after entering administration

Wigan will be handed a 12-point penalty by the EFL after entering administration

Administrators in charge of Wigan Athletic say 12 parties have expressed an interest in buying the Championship club and must now prove they have funds of at least £10m to progress in negotiations.

Wigan entered administration on Wednesday, the first professional club to do so in the wake of the coronavirus pandemic, and are set to be handed a 12-point penalty by the EFL.

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

“Realistically, I’ve got 12 interested parties that have emailed me already,” he said.

“I’m going to send out today non-disclosure agreements and ask for proof of funds because you get some very peculiar people who want to buy football clubs that have got no money.

Interested parties must prove they have funds of at least £10m to enter negotiations for the club Interested parties must prove they have funds of at least £10m to enter negotiations for the club

Interested parties must prove they have funds of at least £10m to enter negotiations for the club

“When they’ve returned with proof of funds, those people will get details of what’s for sale and then the serious negotiations will start, so I hope by the end of July – the end of the season – to have got serious interested parties on board.

“What I predicted yesterday was that we’d get 30 interested parties and if I can get it down to two, I’ll be very happy. Any more I’d be delighted.”

When asked what would be a suitable offer for Wigan, Krasner added: “They’ve got to prove funds of a minimum of £10m.

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

‘Other clubs may not survive’

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

“My firm does a football health check every December, and December 2019 things were looking OK but then the world changed,” he said.

“Everything we thought about the world of football has gone out the window.

“It is my personal view that there are a number of clubs in the lower divisions, League One and League Two, that may not survive by coming back.

“There is possibly one more Championship club that may seriously be thinking about doing the same.”

Brown: Situation is extremely strange

Former Wigan midfielder Michael Brown is surprised the club has gone into administration so soon after being taken over by Hong Kong-based consortium, Next Leader Fund.

2:15
Former Wigan player Michael Brown is surprised the club have gone into administration so soon after being taken over

Former Wigan player Michael Brown is surprised the club have gone into administration so soon after being taken over

He said: “At the end of May, there was a takeover, there was a new company set up and an existing director transferred into that but nobody really knows who is actually part of this company and who the owners are.

“I believe people in the club are still unaware of who the owners are. It is extremely strange that the EFL have managed to pass this through. There was money promised last week to try and let this not happen.

“But it hasn’t happened and obviously the club has gone into administration. Very, very sad.”

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