Wigan have gone into administration
Looks like another case of dodgy owners. It does make you wonder, yet again, what the EFL’s ‘right and proper’ test actually involves?
The club stated on 4 June that under the EFL’s owners’ and directors’ test, the league had approved the sale to NLF by the owners since November 2018, International Entertainment Corporation (IEC), another Hong Kong-based, Cayman Islands-registered company, which owns a hotel and casino in the Philippines.
The EFL’s test and takeover process involves determining that a new owner has the money to buy a club and support it financially for at least the remainder of the season and the whole of the following season. However less than a month later and a week since Au Yeung was announced as the majority owner, the club has appointed the administrators Gerald Krasner and Paul Stanley, of insolvency practitioners Begbies Traynor.
I think they’re going to have to look at the 12 points deduction otherwise next year’s leagues could be decided by who manages not to go into administration. Apparently Sheffield Wednesday is teetering on the edge and potentially lots more are on the cusp of folding too after Covid