Vital Football

Latest Wigan Atletic News

Financial woes for Football and WIgan Athletic?

Financial woes for Football and WIgan Athletic?

Football is a business run like no other. Large sums of money are spent on players with little or no thought as to whether the money can be recouped through mercendising etc.

Clubs speculate this season in the hope of buying success in the Premier League/European competitions which will service their debts.

Whilst the club is successful that is ok but when things start to go awry then problems occur.

An example is Leeds United who under a previous regieme spent big and for a period of time gained success in European competitions. However after an unsuccessful season the club struggled to service financial debts and Leeds had to sell players and fell faster than a striker in the penalty area.

The odds on favourite to struggle this season is West Ham who have lost their sponsor in XL airways and whose owner has allegedly lost a significant investment with the collapse of Iceland's second biggest bank.

Whilst it appears currently that there are no plans to sell the Hammers, a senior Icelandic financial expert was quoted yesterday as stating that they expected Icelanders with foreign investments to cash them in to stabilise the Icelandic economy.

Add to this the rumoured 30 million pay out to Sheffield United over the Tevez case and it appears that you have a club in turmoil. Already it is being reported that Zola has been told he must sell before he can buy.

So what is the state of play at Wigan?

In some ways we are lucky. We are bankrolled by a local man who made his fortune being a very shrewd business man. Mr Whelan sold his controlling interest in JJB sports so should not be significantly affected by the credit crunch.

What is of concern is that today's Independent newspaper reports that Wigan Athletic's current debts are the 7th highest in the Premier League at 54 million pounds and this raises concerns how long Mr Whelan's love of Wigan Athletic will encourage him to continue bailing us out.

Interestingly attendances at the JJB are up this season with over 2,700 more at the Boro game compared to last season. This is still significantly below a full stadium along with those other blue collar premier league clubs such as Blackburn and Bolton.

Mr Whelan is a very perceptive gentleman and his comments that he would welcome other investors, along with the rumoured links with South Korean industrial giants Hyundai gives optimism for the future.

The next few months should be interesting to say the least.



Click here to join in the debate on the club forum.

Writer:baskerville
Date:Thursday October 9 2008
Time: 10:58AM

Comments

0
never mind naming a stand after him we should name the whole ground after him. His financial outlay to keeps us in the Premier League is amazing. Thank you Mr Whelan
baskerville
09/10/2008 11:01:00
0
It can be a sound business practice to have a level of debt - I wouldn't worry about it.
lythamlatic
09/10/2008 12:43:00
0
You right baskerville, Thankyou Whelan you keep us going
Jonni_G
09/10/2008 13:59:00
0
That debt is not to financial institutions, it's personal debt, incurred over 13 years. In the last 12 months the club has started to balance the wage bill, and there's the new TV deal and sponsorship that will bring in much more than JJB.
eh?
09/10/2008 20:22:00
0
It will but, we've been balancing the books for a while
Jonni_G
09/10/2008 22:21:00
0
True, but all these figures are from two seasons ago.
eh?
09/10/2008 23:19:00
0
new tv deal and sponsorship will bring more money in of course but if you compare our team of two years ago with the team now I believe the quality of players that we have mean that the wage bill will have increased significantly. It is personal debt eh?, my article referred to how long Mr Whelan will continue to incur the sort of financial outlay needed to compete at this level
baskerville
10/10/2008 08:53:00
Page 1/1
  1. 1

Login to post a comment

Recent Wigan Athletic Articles

PWU Latics Podcast - Driving Away From Home

The mood is changing quicker than the North West weather in the PWU studio at the moment

Meet The Ref - Latics v Nottingham Forest - Geoff Eltringham

Latics are back at the DW on Saturday, we face relegation rivals Nottingham Forest in a most win game, ensuring that no shenanigans take place is County Durham referee Geoff Eltringham

Video - Match Highlights - QPR 2 Wigan Athletic 1

Action from Loftus Road

Dan's Big Game Report - QPR 2 Latics 1

I am here to tell you all about the QPR-Latics game, the latest chapter of a sporting rivalry so-

Get the new I`m Screwed, It`s A Fix catalogue from your local magazine stockist! Now with endless pages of cheaply manufactured electrical products guaranteed to explode within 10 minutes of power-on or your money back.

My apologies, I have no idea where that obnoxious advert came from! So sorry you had to endure such nonsense. Anyway, as I was saying, QPR-Latics fixture

Archived Vital Latics Articles

Vital Latics articles from

Site Journalists

Barry Worthington
Editor email
Profile
Dan Farrimond (JWAW)
no email
Profile
Adam Convery
no email
Profile
Frank Ford
no email
Profile
Noel Wards Leg
no email
Profile

Current Poll (see more polls)

Man Of The Match v Preston
Suggested By: Billy Bunter
Matt Gilks37%
Callum Connolly2%
Jake Buxton3%
Dan Burn4%
Stephen Warnock2%
Shaun MacDonald20%
Max Power1%
Ryan Tunnicliffe22%
Sam Morsy6%
Will Grigg1%
Omar Bogle2%
ScoopDragon Publishing Entire League Network of Sites

League Table

# Team P W D L Pts. GD
1 Newcastle 32 22 3 7 69 37
2 Brighton 32 20 8 4 68 28
3 Huddersfield 32 20 4 8 64 8
4 Reading 33 18 6 9 60 5
5 Leeds Utd 33 18 4 11 58 11
6 Sheff Wed 33 17 7 9 58 10
7 Fulham 32 14 10 8 52 17
8 Norwich 33 15 6 12 51 11
9 Barnsley 33 14 7 12 49 4
10 Preston 33 13 10 10 49 4
11 Derby County 32 13 9 10 48 7
12 Cardiff 33 13 6 14 45 -2
13 Ipswich 33 10 11 12 41 -7
14 Brentford 32 11 7 14 40 0
15 Q.P.R. 33 11 7 15 40 -10
16 Birmingham 33 10 10 13 40 -14
17 Aston Villa 32 8 12 12 36 -8
18 Forest 33 10 6 17 36 -12
19 Wolves 31 9 8 14 35 -4
20 Burton 33 9 8 16 35 -13
21 Bristol City 32 9 5 18 32 -6
22 Wigan 33 7 9 17 30 -10
23 Blackburn 31 7 8 16 29 -13
24 Rotherham 33 4 5 24 17 -43
Vital Football Comment
Latest F1 News
Latest Vital Boxing News
Write for Vital Football

Recent Wigan Athletic Results (view all)

Wigan Athletic Fixtures (view all)

Feb 25 2017 3:00PM : Nottingham Forest (H)
Sky Bet Championship
Mar 4 2017 3:00PM : Blackburn Rovers (a)
Sky Bet Championship
Mar 7 2017 7:45PM : Birmingham City (a)
Sky Bet Championship
Mar 11 2017 3:00PM : Bristol City (H)
Sky Bet Championship
Mar 18 2017 3:00PM : Aston Villa (H)
Sky Bet Championship
Apr 1 2017 3:00PM : Newcastle United (a)
Sky Bet Championship

Vital Members League Table

RankNamePoints
1.Get a Grip!235
2.Whittleblue184
3.king_dezeeuw06183
4.Moonay151
5.truelatic4eva106
6.BrickLatic102
7.scotdave94
8.Oscarbon92
9.hindleymonwafc91
10.Barry W80
The Vital Football Members League