Wigan Athletic fall into administration - but what does it mean for the the club and its players?

manchestereveningnews.co.uk:

Few words spark fear among fans of a Football League club like ‘Administration’.A somewhat ambiguous term with negative connotations, it is a concerning situation to find yourself in, but what does it mean?In simple terms, administration is an attempt to rescue a business from the threat of liquidation, a process whereby a company (in this case a football club) is brought to an end, and any assets are redistributed.

The simple aim of entering administration is to keep the club going.More often than not, teams that find themselves in administration do so because they’ve been spending more than they’ve earned across a significant period and are now unable to meet debtors requests for payment.Some have predicted a rise in the number of clubs.