Spanish bidders submit final paperwork - and expect Wigan Athletic exclusivity extension

The Spanish bidders hoping to buy Wigan Athletic say they have completed their final submissions to the EFL.

Friday, 20th November 2020, 1:15 pm
Updated Friday, 20th November 2020, 2:01 pm
Jose Miguel Garrido Cristo, who has been representing the Spanish bidders in the UK

And they fully expect the exclusivity period - which expires today (Friday) to be extended while their bid is considered.

It was back on September 30 that administrators Begbies Traynor accepted the bid from the Spanish investors, who have since been waiting for the green light from the EFL to complete the takeover.

Several meetings and discussions have taken place, to establish whether the Spanish have the means and the plans to be fit and proper owners.

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And a source very close to the investors believes they could be close to completing a deal to rescue the club, which has been in administration since July 1.

"We have been told we have submitted everything we've been asked for," the source said.

"This morning (Friday) our solicitor sent to the EFL 100 per cent of the information they required.

"There is nothing else they require, and now it is the hands of the EFL to make a decision.

"That could take, I don't day, two days, five days, one week.

"But as from today they now have all the final documents - everything.

"They good thing is they are now in a position to be able to say: yes or no. And that is what they have said as well.

"We cannot do any more. We have satisfied all the criteria, the proof of funds, everything they've asked for.

"I think within the next week we will have a decision - that's what we hope anyway."

The Spanish group are also unconcerned about the prospect of their exclusivity period running out - which would potentially open the door for other bidders.

"I don't think extending the exclusivity is a problem while the EFL is making its decision," the source said.

"Exclusivity is signed in a way that, as long as we are doing everything possible, and supplying all the information asked of us, exclusivity has to be extended."

Earlier this week, Wigan MP Lisa Nandy voiced her belief that the exclusivity should be lifted - to allow the administrators to consider any late bids that have recently expressed an interest.

"We have spoken to her on a few occasions, and it's clear all she wants is the best for the club," added the source.

"She has always been very reasonable, and she cares a lot about the club. But what she is saying, we believe would be to break the law.

"Someone should tell her we are the only ones who have put money down, to guarantee that exclusivity.

"The other bidders in the process, they haven't put down one pound on the table, not one

"If we have exclusivity, it's not because some kind of magic has appeared.

"It's a legal document set in stone between us and the administrators.

"To break that exclusivity would be to go against the law.

"She should be fully focusing her efforts on making the process move faster, instead of asking to break the exclusivity.

"How do you even do that? Are we going to be paid compensation for that? The administrators cannot do that."

The Spanish have already expressed their intention to hang in there for as long as it takes, despite the process dragging on beyond Gerald Krasner's initial estimate of the end of October.

"The investors understand very well why it has to be a process like this that takes time," our source added.

"The EFL wants to make sure 100 per cent that they are finding the right buyer.

"At the same time the investors are obviously anxious to get a resolution to this, so they can start helping the club as quickly as possible."

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