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He was not allowed into recruitment. He just watched everything. Yet by June 24, Au Yeung, who was initially described as a minority shareholder in NLF, was now stated to own more than 75 per cent of the shares. Then, on June 24, Au Yeung took full ownership of Wigan and decided to withdraw funding from the club on the same day. This also happened to be the very same day Krasner was first asked to look at the case as an administrator.
The Athletic phoned Chen on Friday morning but she said she was travelling and hung up the phone when informed the person on the other end of the line was a journalist. During conversations this week with industry sources, few have been able to shed light as to the background of Au Yeung. In the page sale document published in May, he is described in the following terms. He has been operating an amateur football team for more than 15 years, winning several awards in amateur football league.
He was one of the youth team members of a professional football team, Sing Tao Sports Club, and has intensive youth development experience. The Athletic has discovered two public traces of Au Yeung in the depths of the internet. The first is a cutting from the Philippine Daily Inquirer on September 25, In recent months, there have been warnings of possible trouble ahead.
The Athletic has seen correspondence from a Wigan supporter to the EFL on May 12 warning that the page document published on May 8 did not include evidence of future funding and asking whether the EFL had carried out due diligence. The EFL told the supporter to raise the issue with the club. Senior figures in the Wigan boardroom were anxious as events played out over the past couple of months. It is understood that Darren Royle and Jackson refused to back the proposed loan agreement but ultimately the ownership had the final say.
That is ultimately what kept the football club operating and it made it very difficult for those British-based sceptics to prevent the change of ownership or control. From the EFL side, I do have a bit of sympathy too. They are fit and proper. They had proof of funds. What has happened since last week is completely bizarre. It is understood the Wigan board in Britain were formerly under the impression that Choi would remain as the lead shareholder and it was only following the announcement on June 24 that they realised Au Yeung would become the full owner.
By the time the administration came, it was too late. The administration is puzzling on many levels. A case was made by Wigan to the man on the end of the telephone on Tuesday morning. It is expected that talents such as Kieffer Moore or Joe Gelhardt , the teenager who has represented England at unders level, could be sold for handsome fees, along with Joe Williams and Jamal Lowe. In addition, Wigan also own their stadium and training grounds.
These points were firmly made to the owner, while it is understood the administrators also urged caution. They have a bit of money in the bank and are due a big tranche of money from the EFL for next season in a month.
They had no debts and have assets on the pitch. Every football club funded by owners manages a tight ship and when you need the funding, you get the funding and you sell players every so often for cash flow. That is how you operate. But they are a normally run club. Yet numerous sources close to the club insisted that the pair, too, feel misled and duped. Reputations are at stake and unless there is extremely good acting going on, this has happened quickly and caught everyone off guard.
People feel sick in there. Any evidence would be obliged. There are other theories, including the suggestion that a loss-making Championship football club reflected poorly on IEC while it is listed on the Hong Kong Stock Exchange. One source close to the club wonders if Choi thought Premier League promotion may have come sooner and has now decided to cut his losses.
Fourteen thousand miles away in Wigan, Jackson, Royle and the administrators are attempting to pick up the pieces. On Wednesday evening, Krasner returned, he claims, to emails about Wigan and four potential buyers requesting non-disclosure agreements. It is not expected that Whelan would return in an ownership capacity but both he and his family are happy to support the process to find the right buyer for Wigan.
They believed they had sold the club to creditable businessmen who had, for the first 18 months, appeared to have been true to their word. The players, for their part, remain flabbergasted but determined to help the staff at Wigan, who appear to have been so mercilessly exploited.
The players volunteered to take pay cuts and the captain Sam Morsy immediately asked what the players could do to help. Put simply: win a few more matches. There are fixtures against relegation rivals Barnsley, Hull City and Charlton Athletic all still to come. On the flipside, the players have survival clauses and win bonuses written into their contracts, while relegation would mean contractually-obliged salary deductions next season.
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