Wigan Athletic: Preferred bidder selected by administrators of stricken club
Joint administrator Gerald Krasner said contracts must be exchanged by July 31, which is when Wigan's appeal against a 12-point penalty will be heard
Wednesday 22 July 2020 13:49, UK
Wigan Athletic's administrators have selected their preferred bidder to buy the stricken football club.
Gerald Krasner, one of the three administrators brought in to manage the collapse of Wigan, said there were five offers in total from 64 non-disclosure agreements sent out.
The next deadline is midday on Thursday for the preferred bidder to sign the letter they've been sent spelling out the timeframe for a takeover, before contracts must be exchanged by July 31 - the same date their appeal against a 12-point penalty will be heard.
"The bid we have chosen represents the best bid for the creditors for the company and for Wigan as a football club," he said.
Wigan host Fulham at the DW Stadium later on Wednesday needing a win and other results to go in their favour to avoid relegation to League One, with the 12-penalty sanction to be applied immediately after the final games of the season.
Krasner said whether the club win or lose their appeal against the sanction they would have to meet the legal costs on all sides under EFL rules, which he estimated at up to £500,000.
"To football supporters everywhere, one day your football club could face this," he said.
"The rules of natural justice tell me that this isn't right. I don't blame the Football League, these rules were approved by the football chairmen of clubs in all the divisions and it's about time the whole situation was looked at to make it a fairer process."
The Championship club were placed in administration on July 1, just weeks after changing Hong Kong-based owners.
Krasner said that the former owner, Au Yeung Wai Kay, had agreed to the administrators' request to be interviewed via Zoom to discuss the circumstances which led to the club being placed in administration.
"Mr Yeung has agreed to do a Zoom interview in July so we can look into fully what has happened," he said.
Krasner said the report of the investigation would not be made public.
Wigan supporters have launched an online petition, supported by the town's MP Lisa Nandy, to try to trigger a parliamentary debate around the EFL's owners' and directors' test.
Wigan MP Lisa Nandy tweeted: "Big day at Wigan Athletic with the confirmation that a preferred bidder has been selected. Pleased to hear there will be no attempts to delay the process. The EFL must ensure the bidder (who is yet to be revealed) will secure the long-term future of the club."
Krasner also confirmed one player has already been sold by the Latics, ensuring that June's wages have been paid to all squad members, with deals for two more unnamed players set to be completed this week.
Speaking ahead ahead of their home fixture against promotion-chasing Fulham, manager Paul Cook told Wigan Today: "I'm a great believer in this group and sticking with it.
"How can anyone criticise anything these lads have done? They can't.
"We were set a totally different task a fortnight ago, and these lads have responded magnificently - as has the town. There's probably more pride in and around this football club than there has been for some time, and that's the most important thing heading into Wednesday.
"As far as we're concerned, we have to win our last game against Fulham. The disappointing thing is even then it might not be enough, but we'll give it everything we've got."
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