General 'Championship' Thread 2018 - 2021

I’d of given it to pulis or Chris hughton
Neil Harris is not a bad manager but you will get neck ache watching Cardiff now by the amount of time the ball is in the air and lumped long to the 6 foot plus players

He kept Millwall in the championship for a few seasons on a limited budget but Cardiff is a big job and they will expect a return to the premier league soon
He won’t last long there because of that reason

i put rowett name forward 
but his football isnt pretty and very direct 
suits millwall as they all are over 6 foot odd
they do defend well once they scored though

I half-heard that news earlier today and hoped I had heard wrong. Sad news. I remember travelling up to see them play Hillingdon Borough in either a Southern League or FA Cup match and the driver being directed to the Rugby League ground (much more impressive)! For Wigan FC to do as well as they have over the years and then sink to this just shows how precarious all non-Prem sides are. Wish them well.

Unfortunately for the Wigan fans the combination of the Covid virus and some unusual ownership has combined to put them in a poor financial position.

When the club was owned by the Whelan family who are fans of the club it seemed to be run on a pretty good basis. The troubles seemed to really start when Whelan and his family sold their stake in the club to the Hong Kong-based International Entertainment Corporation (IEC) in November 2018.

The club recorded a net loss of £9.2million in their most recent annual accounts for the year ending June 30, 2019. That was an increase of £1.5m on the previous year.

There was a change of ownership at Wigan on May 29 of this year, when IEC divested its ownership to Next Leader Fund.

Seems very strange that a club who changed ownership just over a month ago is now placed in administration. However, as we know, you should never be surprised by the decisions of owners!

...and be bought back for a pittance?

When a company goes into administration the control of the company is placed into the hands of a licensed insolvency practitioner (Administrator/s).  This effectively stops the business from any legal action by its creditors to wind it up. 

 It's not always bad news because an insolvent company i.e one that owes its creditors more than it has in cash/assets, is not actually bust. It can continue as long as it has cash to pay for essential activities and no one is putting pressure on the business to repay the debt.

The administrator will try and work with the directors but he has to ensure that the creditors will not be any worse off, therefore he is not allowed to run the business at a loss.   If there are large amounts of money to collect in or substantial realiseable assets then they may trade for longer periods.  During this time they will need to report to the creditors at regular intervals. 

Ultimately, the administrator could decide to:

• negotiate a Company Voluntary Arrangement (CVA) so the company can keep trading

• sell the business as a ‘going concern’ to another company - meaning the business can carry on, eg by keeping its clients, workforce or orders,

•  sell the assets as part of a creditors’ voluntary liquidation and pay the creditors from any money raised. The amount the assets raise will determine how much each debtor receives. 

• close the company if there’s nothing to sell