In Wigan, little is known of Au Yeung apart from the note in
IEC’s sale document which stated he “has relevant experience in business operations management and business leadership as he has worked in commodity and real estate investment management in Asia”. Also that he “has been operating an amateur football team for more than 15 years, winning several awards”.
So, the facts as set out are that in the middle of the coronavirus crisis, while football was still shut down and many clubs fear going out of business, Au Yeung decided to buy
Wigan Athletic, a club which even in normal times loses millions of pounds. At first in partnership with Choi, he paid £17.5m, giving IEC more than they paid for the club, and also ensured their £24m loan was repaid. But then, on the day he took ownership after this £41m purchase, he decided not to fund it and to put the club into administration, so losing control, the £17.5m, and probably the £24m too.