Mr. "In the short-term, those discussions will continue with the sale of the club, player transfers and funding required in order to complete the 2019/20 season the immediate priorities. Both of NLL and Widespread Success Limited are wholly-owned by Mr. I’m going to mark it on my calendar. The Wigan Athletic Supporters Club has raised £190,000 to help support the club and has now teamed up with local band Quaintest Show on Earth to release their single Good Old Days. Mr. "In respect of the challenges at Wigan Athletic, there is clearly a number of important unanswered questions that require urgent attention and the EFL welcomes the move made by the administrators to launch an investigation as to what has led to the club being placed into administration just a matter of weeks after the Next Leader Fund (NLF) took ownership of the club. Get regular updates from Wigan direct to your email inbox with the free MyWigan newsletter. about putting the club into administration, Au Yeung Wai Kay agrees to write off debts owed, Administrators say reported potential buyer is ‘not credible’. category: Independent Non-Executive Directors Title: Independent non-executive Director Card Detail: Au Yeung Wai Key (歐陽偉基) (“Mr. "Mr. "The EFL understands this situation once again leads to questions being asked about EFL regulations in regard to changes of control, alongside the actions taken when an insolvency event occurs, and as a result has opted to clarify each matter below: While the EFL also included the following on their insolvency policy: “In all circumstances a sporting sanction applies in respect of an insolvency event (default 12-point penalty). Finance & Law; Wigan Athletic FC; Read Next. All sorts of theories have been suggested as to why the owner decided administration was the best course of action, but he said the financial impact of the Covid-19 outbreak was to blame. Au Yeung Wai Kay agrees to write off debts owed Administrators say reported potential buyer is ‘not credible’ The Wigan Athletic Supporters Club has raised £190,000 to help support the club. “This has fundamentally undermined our ability to fund Wigan Athletic and, after struggling to find a solution, in the end took the difficult decision to put the club into administration to ensure its survival. The EFL have hit-back at claims from Wigan Athletic’s owner Au Yeung Wai Kay's that the club's demise was down to the coronavirus pandemic. Administrators working to save Wigan have said the former owner Au Yeung Wai Kay has agreed to waive debts of around £36m owed to him by the club. Are you sure you want to delete this comment? The Wigan Athletic Supporters Club has raised £190,000 to help support the club. "While it is clear Covid-19 has undoubtedly presented significant financial challenges to the professional game, evidence of the required source and sufficiency of funding to be invested in or otherwise made available to the club, was provided as part of the recent change of control process.
Jump directly to the content. Premier League and Sky ‘agree deferral of £170m rights rebate’ 4 Jun 2020. All Rights Reserved. The Hong Kong-based businessman put Wigan into administration on 1 July, weeks after buying them, leading to a 12-point deduction and relegation. Au Yeung Wai Kay is the General Partner of the limited partnership." It read: "The EFL continues to note the many comments and concerns in respect of the recent developments at Wigan Athletic Football Club from supporters, media and public figures. You can find our Community Guidelines in full here. Wigan entered administration on Wednesday and are set to be handed a 12-point penalty by the EFL once the season has been completed Au Yeung is responsible for providing independent judgement on the issues of strategy, performance, resources and standard of conduct of our Group.
Au Yeung”) was appointed as our independent non-executive Director on 19 Sep 2018.Mr. “The EFL acknowledges it is a difficult time for any club placed into administration, particularly in the midst of COVID-19, but is mindful its regulations are to be applied consistently and equally to all member clubs irrespective of the circumstances. “This set of circumstances is more illustrative of the wider financial challenges facing EFL clubs, who, without a full and comprehensive reset of football’s finances, including how monies are distributed throughout the game, will continue to struggle to meet the demands of an outdated and unsustainable model.”. You can also choose to be emailed when someone replies to your comment. Before concluding on their owners’ and Directors’ test: “Under EFL Regulations, it is a requirement that the self-certification Owners’ and Directors’ Test is completed by every prospective new owner and relevant person seeking to gain control of a club. Events.

“By waiving all his rights Mr Yeung has also made it much more possible to pay the necessary 25p dividend to the creditors and thus avoid a further 15-point penalty next season.”. Au Yeung Wai Kay, a businessman from Hong Kong, has taken over English football club Wigan Athletic. A statement on behalf of the administrators, Begbies Traynor, said: “We should like to ... inform fans that the Administrators have been in discussions with Mr Yeung, who has cooperated fully for the benefit of the club and who has agreed … to waive his rights to the repayment of the debts owed to him and to his companies.”. Wigan administrators set strict deadline of 31 August for potential buyers. He received an undergraduate degree … One potential buyer has been ruled out, however, with claims that the businessmen Randy Frankel and Michael Kalt had made an offer, denied by administrators. The administrators themselves can’t even contact the owners, who have clearly ‘done a runner’.


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