Latics sell off

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shaunedwardsfanclub
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Re: Latics sell off

Post by shaunedwardsfanclub » Sat Nov 03, 2018 6:39 pm

fozzieskem wrote:
Firestarter wrote:It will only improve once we get our own stadium
I know there are those who wouldn’t agree with you but honestly I can’t really see the club ever really being in a strong position until they have our own ground,not that it’ll ever happen of course,just seems dead money renting the ground and if we are being frank treated shabbily by the landlords at times too

Plus on a side note at 22 mill the new owners have gotten a bargain surely?
Where would IFL find that sort of money to build a new ground? The owner is happy to pay 10% of the gate revenue, he can roughly forecast the outlay and minimise his risk. Saints do have the advantage of being able to generate more revenue at present but they also need to factor in maintenance of the ground etc., which will increase over time. They may be making good gains now but in 25 years they may struggle. What IFL needs is more people sitting in the stands.
Winning is down to 99% perspiration and 1% inspiration - Shaun Edwards

fozzieskem
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Re: Latics sell off

Post by fozzieskem » Sat Nov 03, 2018 11:17 pm

shaunedwardsfan​club​ wrote:
fozzieskem wrote:
Firestarter wrote:It will only improve once we get our own stadium
I know there are those who wouldn’t agree with you but honestly I can’t really see the club ever really being in a strong position until they have our own ground,not that it’ll ever happen of course,just seems dead money renting the ground and if we are being frank treated shabbily by the landlords at times too

Plus on a side note at 22 mill the new owners have gotten a bargain surely?
Where would IFL find that sort of money to build a new ground? The owner is happy to pay 10% of the gate revenue, he can roughly forecast the outlay and minimise his risk. Saints do have the advantage of being able to generate more revenue at present but they also need to factor in maintenance of the ground etc., which will increase over time. They may be making good gains now but in 25 years they may struggle. What IFL needs is more people sitting in the stands.
What you say may be right, but its always seemed to me landlords always, always get a better deal than a Tennant simple as that,Lenegan Cleary hasn't got the cash to build a new stadium and I certainly won't blame him for the sins of the past, but ill bet good money he would prefer it to be the other way round, bricks and mortar are a huge asset to anyone let alone what the Latics new owners have just purchased, debts and all,they've got a bargain and thats ultimately what's this thread is about.

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jaws1
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Re: Latics sell off

Post by jaws1 » Sun Nov 04, 2018 7:38 am

The new owners might like rugby league the intensive way its played im sure they would have seen one of our games live or on tv.

moto748
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Re: Latics sell off

Post by moto748 » Sun Nov 04, 2018 11:20 am

jaws1 wrote:The new owners might like rugby league the intensive way its played im sure they would have seen one of our games live or on tv.
Certainly a charm initiative from the club wouldn't hurt.

DaveO
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Re: Latics sell off

Post by DaveO » Sun Nov 04, 2018 4:45 pm

moto748 wrote:
jao 711 wrote:
Firestarter wrote:It will only improve once we get our own stadium
. You think the club should spend £20-30 million on a new ground to play about ffifteen games a year.
Well that's not what he said, is it? Obviously if you have your own stadium, you have to try to maximise the income you can get from it, all the year round, as Saints try to do.
Has anyone any idea if that is working for them or not? As far as I am aware they aren't making profits either and are still in debt to the tune of several million pounds to McManus and other directors who have loaned the club a shed load of cash.

I think making a stadium even just pay for itself by all year round use is easier said than done which is also why I doubt Latics new owners will want rid of Wigan RL or would be daft enough to put the rent up to a level so we had to look elsewhere. We are part of their "all year round use" of the stadium financing - they need the income from us to offset the costs.
But I don't think for a moment it's feasible, or that either the money or the right site is there.
Me either. Had we never sold Central Park (which would have meant not getting into such a mess financially in the first place of course) we could probably still afford to have ground in use for 15 games a season because the ground itself would have been paid for decades ago unlike Saints who have to service the cost of actually building their ground as mortgage and/or loan repayments.

So unless IL decides to build us a new ground completely out of his own pocket leaving the club with zero debt I don't think there is anything to gain financially from ground ownership. Servicing the mortgage and having to generate revenue to do so in the off season is a big job with its own overheads. We'd probably need Latics to be our tenants :o

In any case even if IL was rich enough (I don't think he is) and prepared to do this, as you say I don't think the right site is there.

keptinthedarkfans
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Re: Latics sell off

Post by keptinthedarkfans » Sun Nov 04, 2018 7:23 pm

DaveO wrote:
moto748 wrote:
jao 711 wrote:. You think the club should spend £20-30 million on a new ground to play about ffifteen games a year.
Well that's not what he said, is it? Obviously if you have your own stadium, you have to try to maximise the income you can get from it, all the year round, as Saints try to do.
Has anyone any idea if that is working for them or not? As far as I am aware they aren't making profits either and are still in debt to the tune of several million pounds to McManus and other directors who have loaned the club a shed load of cash.

I think making a stadium even just pay for itself by all year round use is easier said than done which is also why I doubt Latics new owners will want rid of Wigan RL or would be daft enough to put the rent up to a level so we had to look elsewhere. We are part of their "all year round use" of the stadium financing - they need the income from us to offset the costs.
But I don't think for a moment it's feasible, or that either the money or the right site is there.
Me either. Had we never sold Central Park (which would have meant not getting into such a mess financially in the first place of course) we could probably still afford to have ground in use for 15 games a season because the ground itself would have been paid for decades ago unlike Saints who have to service the cost of actually building their ground as mortgage and/or loan repayments.

So unless IL decides to build us a new ground completely out of his own pocket leaving the club with zero debt I don't think there is anything to gain financially from ground ownership. Servicing the mortgage and having to generate revenue to do so in the off season is a big job with its own overheads. We'd probably need Latics to be our tenants :o

In any case even if IL was rich enough (I don't think he is) and prepared to do this, as you say I don't think the right site is there.

I think your spot on dave on both accounts

ancientnloyal
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Re: Latics sell off

Post by ancientnloyal » Sun Nov 04, 2018 8:08 pm

Why would anyone buy wigan Athletic? On a serious note, why?

JeffB88
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Re: Latics sell off

Post by JeffB88 » Mon Nov 05, 2018 3:30 am

Caboosegg wrote:Havent the new owner said the only reason they went through with the deal was with the warriors as tenants as just latics was to much of a risk.
The Warriors pay 10% gate receipts plus stadium concessions. It amounts to a few hundred thousand per season. The Warriors stadium renewal is up in 2025 with an option to extend it to 2050 with written approval.

IEC paid closer to £30m for Latics. £22m includes the stadium, two training grounds, the Sharpy’s restaurant and grounds, plus grounds used for car parking and Soccerdome. They paid off a £4.5m Barclays loan and other bits and pieces. IEC’s owners only actually bought the company a little under 2 years ago. They are owners of a larger private investment company called ‘Head & Shoulders’. The Cheng family retain a minority stake in IEC and Henry Cheng was at Latics opening game this season. They are one of Asia’s richest families but it’s not known if they’ll have any direct involvement.

Infrastructure plans include turning the Sharpy’s restaurant into a supporters club/store. Renovating hospitality, new seating plans, big TV screens, and a Class 2 Academy. Stadium will also be renamed and there are plans to hold concerts and events.

The deal will go through on Wednesday. Below is a 100 plus page PDF on the deal.

http://www.ientcorp.com/attachment/pdf/ ... 4GWmP7.pdf

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jaws1
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Re: Latics sell off

Post by jaws1 » Mon Nov 05, 2018 9:06 am

Looking through the 126 page document this
Wigan Warriors Rugby Football League Club is a valuable tenant. They pay a stadium hire fee of 10% of their match ticket revenues to the Stadium. There is a risk that should Wigan Warriors Rugby Football League Club struggle commercially, then this will have an impact on the commercial performance of the Target Group. Another significant risk would be the loss of this tenant on a permanent basis. The Target Group will enhance its hospitality business such as catering and holding events in the Stadium to generate additional income to diversify the risk of losing such tenant

Wandering Warrior
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Re: Latics sell off

Post by Wandering Warrior » Mon Nov 05, 2018 9:16 am

ancientnloyal wrote:Why would anyone buy wigan Athletic? On a serious note, why?
As a plaything!
When John Byrom plays on snow, he doesn't leave any footprints - Jimmy Armfield

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