Skip to content

Posts tagged ‘football finance’

Flabergasted

It has been muted before and no doubt will be again. Some believe it’s high jinks and a negotiating ploy to get more out of UEFA in advance of imminent meetings. Not this time, I feel, as the concensus of PR from the 6 so-called ‘BIG CLUBS’ cries a done deal. I’m just hearing that BVB Dortmund may have refused to join, yet good on them if so – though the German model of ownership has offered more security to stakeholders including the fans and been applauded previously. It is blatant ‘fat cats’ behaviour, the drivers behind this so called ‘European Super League’ (ESL) with overseas owners of United, Arsenal and Liverpool one tier beneath the former Real Madrid President in the new hierarchy. Will it go ahead? Of course if these ‘big ones’ want it enough. The objective is simply more revenue. A logical ‘target’ with shareholders seeking greater returns on investment. However, what has clearly been betrayed is the fans. No consultation, no advance warning, no solicitation of opinions. Owners can do what they want, but this is adverse to the heritage, tradition and DNA of the “beautiful game“. Reactionary tones suggest bans from Europa and Champions League for Arsenal, Tottenham, Chelsea, City, United and Liverpool. Also, potential dismissing from future participation in the EPL. Then finally, potentially no players from these 6 teams featuring in the Euros or World Cups. I know my Son and I had fun selecting our new England best eleven this morning over breakfast without recourse to any of those six clubs. Will they get their own way? If they want to yes! Will the threats outside the ESL, prove toothless? Who knows? Only time will tell. Claimants to be ‘Football Finance’ experts are now mushrooming on every corner. So just take a peek at this huge wave of continuity, in opinion, against those North West or London owners and their clubs. You’ll detect from those posts that I have selected below, my take on this all. And yes, the silver lining might be cast on County or FC United amongst others.

Not a plastic Latic, a cardboard one

Now a face in the crowd at #WiganAthletic in solidarity to financial crisis. 💙🤍

https://wiganathletic.com/news/2020/june/Fans-From-Home-Can-you-spot-yourself-in-the-crowd-/

Latics Lolly

Thread by @marksparko on Twitter.

Published to highlight the dodgy dealings that could happen in football. We all know even with County, there has been charlatans sniffing around our Club when in financial freefall:

“A thread: How Wigan Athletic have been victim to one of the greatest sporting scandals of all time.

In 2018 Dave Whelan sold Wigan Athletic to Hong Kong based International Entertainment Corporation (IEC) who specialise in gambling. Owned by professional poker player Stanley Choi of Hong Kong.

June 2020. The club officially changed hands to Next Leader Fund (NLF) based in the Cayman Islands and only set up in January 2020. Majority share in NLF? You guessed it, Stanley Choi. How did NLF afford the takeover? A loan.

IEC loaned NLF £28million with an interest rate of 8% rising to 20% if not paid back in 12 months. That’s £100,000 a week in payments which Wigan would not be able to afford. Sounds dodgy as hell right? Well the EFL didn’t seem to think swiftly approving the terms of sale.

On 24th June, NLF switched hands to a new majority stakeholder, Au Yeung Wai Kay. A week later, Chinese lawyers contacted administrators to instruct them to seize control of the club. The administrators themselves can’t even contact the owners, who have clearly ‘done a runner’.

Has Au Yeung Wai Kay always dreamed of owning a football club in Lancashire? Doubt it. He paid £17million for the club + £28million in loan repayments. That’s £45million pounds to own a club for 7 days and then place it into admin. Why would anybody do that?

Well, here’s why… This is a video of the head of the English Football League, Richard Parry, stating he’s heard a rumour that there was a big bet placed on Wigan’s relegation in the Philippines. Remember the past owner was a professional gambler who owned a string of casinos? https://t.co/uW3PTkrOAL

This video has since been confirmed as Rick Parry by the EFL.

I wonder which Philippine-based gambling company could have been used? Well look no further than the front of Wigan’s shirts. KB88 bet. Director of KB88, Tat Man Cheung, left the company prior to take over then was reinstated 12 days before Wigan was placed into administration.

KB88 brought into the club by the past owner and Darren Royle (Current Wigan Chairman). Royle used to work for KB88 Bet. He was also responsible for recommending IEC to Wigan Athletic when Whelan was looking to sell.

Royle, since the administration news, has deleted his LinkedIn account. A coincidence or to cover up communications?

So why would somebody place a club into admin 7 days after owning them and only 6 games before the end of the season? -12 points is the sanction from the EFL, dragging Wigan back into the relegation places. Nobody would want that surely?

Unless maybe you (or a close ally) gambled on the club going down and panicked as they started to pick up points and climb away. Does Au Yeung Wai Kay even exist? Or is he a fictional front man to keep Choi out of trouble?

Let me now take you back to August 2019, witnesses in the stand saw somebody get thrown out of the stadium for being wired up and illegally betting. Where in the world was he wired up to? Hong Kong. There’s a history of betting scams.

“It’s a well run club and the oddest situation I’ve ever seen” was the verdict of administrator Gerald Krasner. Wigan have always been a well run club, loss making, but controlled. We rely on funding from owners and have only spent money we either had or believed was incoming.

This money was quickly pulled from under the club’s feet by a transaction that was sanctioned by the EFL only weeks prior. The same EFL that then issued a -12 point penalty, punishing the club but potentially rewarding the owners and their carefully constructed plan.

This is an international scandal that requires investigation at the highest level. Facilitated willingly by the EFL who proceeded to punish innocent people based on their own failings. We may be too far down the line to save Wigan but this CANNOT be allowed to happen to others.

Finally, a massive thanks to @sammorsy08 Paul Cook and the rest of the lads. You are all heroes as I hear despite looking at 20% pay you’re all on the bus to Brentford.

Please share this thread, this is potentially the greatest football scandal of all time!”

Of course, the above is merely a reproduction of allegations published in the public domain.  The correct legal authorities including administrators will no doubt uncover the precise facts and whether the above content is factually correct or not.  But an intriguing story and proposition it has to be said.  We like others will follow the news as this further unfolds – and will try and buy a cardboard cut out from the S’PORT as a token gesture of support.

Read and sigh ……. “Latics Lolly” https://s-port.co/2020/07/04/latics-lolly/ via @acrobatonline #WiganAthletic from a #stockportcounty fan and supporter of real football, real clubs, real fans globally.

Mascots

Interesting debate. Should EPL clubs charge for the rights to be mascot. Image from @footyaccums

From my perspective including EFL, NL and NLN it is an acceptable income stream in commercial budgets with discretionary allocations waiiving fees in case of hardship or ‘charitable’ recognition.