Wigan Athletic’s financial situation has been turbulent in recent years, marked by periods of both relative stability and severe crisis. The club’s fortunes are closely tied to the ownership and the level of investment they are willing to provide.
After years of ownership by Dave Whelan, who guided the club to its Premier League peak and FA Cup triumph, Wigan Athletic was sold to the International Entertainment Corporation (IEC) in 2018. This initially seemed promising, but problems soon emerged. IEC’s investment proved insufficient, and there were concerns about their financial commitments to the club.
In 2020, just weeks after the club was acquired by Next Leader Fund, controlled by Hong Kong-based businessman Au Yeung Wai Kay, Wigan Athletic entered administration. This was a devastating blow to the club, fans, and the local community. The administration was triggered by the financial impact of the COVID-19 pandemic, combined with Au Yeung’s apparent unwillingness to fund the club as agreed. The club was facing unsustainable losses and struggled to meet its financial obligations.
The administration process resulted in a 12-point deduction, which ultimately led to Wigan’s relegation from the Championship. The administrators, Begbies Traynor, were tasked with finding a suitable buyer for the club while also cutting costs to ensure its survival. Numerous players were sold, and staff were made redundant to reduce the club’s wage bill and operating expenses.
After a prolonged period of uncertainty, Wigan Athletic was eventually purchased by Phoenix 2021 Limited, a company owned by Bahraini businessman Abdulrahman Al-Jasmi, in March 2021. This acquisition brought a sense of relief and hope that the club could rebuild and return to stability. Phoenix 2021 cleared the club’s debts and invested in the squad and infrastructure.
Despite the takeover, challenges remained. Rebuilding a competitive team after the fire sale of players was a significant undertaking. Financial Fair Play (FFP) regulations also presented obstacles, as the club needed to demonstrate sustainable financial practices to avoid further penalties. The club’s league position and revenue generation capabilities are vital to meeting FFP requirements.
The current financial situation appears more stable than in 2020, but vigilance is still needed. Sustained success on the pitch, increased matchday revenue, and careful financial management are crucial for Wigan Athletic to avoid future financial difficulties. The club’s ability to attract investment and generate income will ultimately determine its long-term financial health and its ability to compete at higher levels of the football pyramid.
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