Spanish prepared to wait for Wigan Athletic green light

Jose Miguel Garrido CristoJose Miguel Garrido Cristo
Jose Miguel Garrido Cristo
The Spanish bidders for Wigan Athletic are ready to wait ‘as long as it takes’ to have their takeover approved by the EFL.

It’s been seven weeks since the Spanish duo – represented by UK-based Jose Miguel Garrido Cristo – had their offer accepted by Begbies Traynor, who granted them a period of exclusivity.

That was recently extended until this Friday (November 20) while the EFL continues to assess the merits of the bid.

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The latest meeting took place last Thursday but, with interpreters required via Zoom, the process has not been without its problems.

The continuation of behind-closed-doors football due to the effects of Covid-19 has also meant business plans and projected figures having to be amended accordingly.

“There is a plan to run the business in a certain way, but this is also a very difficult year where the income is going to be much reduced,” revealed a source very close to the bidders.

Co-administrator Paul Stanley has made it clear he won’t have talks with other potential bidders until the EFL makes a decision – unless the Spanish pull out.

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The source continued: “The investors are very committed, they are not going to walk away from this.

“They are desperate to get it done, and they think they have a good plan for the club.

“They are very experienced people, and know full well what they are going into.

"They have a very big commitment with the administrators, that commitment is 100 per cent.

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“They have shown they have the £5million (running costs), and if they need to show any more money, they will show that as well.

“If it takes one week, two weeks or two months, they are happy to see the process through.

"Let’s not forget they are familiar with the process, because it’s something they have to do every year.

“They have also supplied to the EFL a very strong letter of recommendation from La Liga, who have seen how they have run two clubs.

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"They have run both clubs for a number of years, and they have a track record of success in football.”

The Spanish are also unconcerned about the recent emergence of another bidder from the Far East, fronted by a Wigan-born businessman.

They also question its legitimacy and timing - after leaving it so late to make their interest known.

"The investors are not speculating with the club, they sat down with the administrators, paid a visit and agreed the price in 72 hours and placed a deposit," our source added.

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"We didn’t argue the price, because these investors are here for the long term.

"From June to the end of September, nobody was interested in the club, and they let the administrators deal with the situation.

"The only people who appeared put very low offers trying to speculate with the club and trying to buy a bargain.

"Nobody committed with the club and the administrators, and even fewer showed the money up front.

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"Now it seems there is a queue of people willing to save the club, and the question is: Where were these people in summer?

"Why did they wait so long, and leave the club in such a state?

"If somebody is able to close a very fast deal, why didn’t they did so in July and save the administrators having to deal with the situation?"

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