Wigan Warriors • Latics in administration - Lenagan leading bid
jaws1 wrote:
Conflicting reports Lenegan wanted to buy the stadium but was turned down these new bidders said that they did not want to buy the stadium but rent which they said the rent was too much(how do they know how much is the rent if there is no stadium buyer) .
I think its common knowledge that although the Latics were joint tenants at the DW, they didn't actually physically pay any rent as the owner of the DW was also the owner of the Latics, and any rental payment would just be a couple of lines on respective balance sheets.
Now, if the Latics rent was an accounting exercise, there would be nothing to stop the owner putting a big figure down on the contract, which may have saved some tax. However, with the potential of the DW being owned by a different individual and many years of a sky high rent contract due as part of the "agreement", it may be why potential bidders are looking elsewhere.
Statistics: Posted by muttywhitedog — Thu Sep 10, 2020 8:05 pm — Replies 538 — Views 40827