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The Takeover Thread - Duchatelet Finally Sells (Jan 2020)

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    Uboat said:

    NappaAddick I would be very interested to read how you think CAFC could have a value of £75-80M. Sorry but I think you are deluded

    Well, it is, without question, worth at least 57M, since that is the debt as it currently stands.
    Can't believe I'm getting involved, but why is something worth the value of its debt?
    It is.

    In Roland’s world anyway.....
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    NappaAddick I would be very interested to read how you think CAFC could have a value of £75-80M. Sorry but I think you are deluded

    Well, it is, without question, worth at least 57M, since that is the debt as it currently stands. So we have a difference of opinion only for the remaining 13M. The lowest offer anyone in the press has reported for RD's purchase is 14M. The highest is 20M. I contend he won't sell at a loss. And that someone will assume all the debt and pay at least the £14M he paid.

    I need to add that enterprise value (equity plus debt) and intrinsic value (actual worth) are very different things.

    That being said, I think I can make a fairly strong case for even paying full boat for the club.
    My house is worth about 475k.

    If I decide to sell I will contact you and sell it for about 3 million.
    I take it smoke detectors have been fitted and are all in good working order :wink:
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    NappaAddick I would be very interested to read how you think CAFC could have a value of £75-80M. Sorry but I think you are deluded

    Well, it is, without question, worth at least 57M, since that is the debt as it currently stands. So we have a difference of opinion only for the remaining 13M. The lowest offer anyone in the press has reported for RD's purchase is 14M. The highest is 20M. I contend he won't sell at a loss. And that someone will assume all the debt and pay at least the £14M he paid.

    I need to add that enterprise value (equity plus debt) and intrinsic value (actual worth) are very different things.

    That being said, I think I can make a fairly strong case for even paying full boat for the club.
    My house is worth about 475k.

    If I decide to sell I will contact you and sell it for about 3 million.
    Do you owe 3 mil on your 475k house?
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    NappaAddick I would be very interested to read how you think CAFC could have a value of £75-80M. Sorry but I think you are deluded

    Well, it is, without question, worth at least 57M, since that is the debt as it currently stands. So we have a difference of opinion only for the remaining 13M. The lowest offer anyone in the press has reported for RD's purchase is 14M. The highest is 20M. I contend he won't sell at a loss. And that someone will assume all the debt and pay at least the £14M he paid.

    I need to add that enterprise value (equity plus debt) and intrinsic value (actual worth) are very different things.

    That being said, I think I can make a fairly strong case for even paying full boat for the club.
    My house is worth about 475k.

    If I decide to sell I will contact you and sell it for about 3 million.
    Do you owe 3 mil on your 475k house?
    If he did, no-one would buy it, as it's worth 475k.
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    Uboat said:

    NappaAddick I would be very interested to read how you think CAFC could have a value of £75-80M. Sorry but I think you are deluded

    Well, it is, without question, worth at least 57M, since that is the debt as it currently stands. So we have a difference of opinion only for the remaining 13M. The lowest offer anyone in the press has reported for RD's purchase is 14M. The highest is 20M. I contend he won't sell at a loss. And that someone will assume all the debt and pay at least the £14M he paid.

    I need to add that enterprise value (equity plus debt) and intrinsic value (actual worth) are very different things.

    That being said, I think I can make a fairly strong case for even paying full boat for the club.
    My house is worth about 475k.

    If I decide to sell I will contact you and sell it for about 3 million.
    Do you owe 3 mil on your 475k house?
    If he did, no-one would buy it, as it's worth 475k.
    Based on.... comparable homes I assume?
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    Uboat said:

    NappaAddick I would be very interested to read how you think CAFC could have a value of £75-80M. Sorry but I think you are deluded

    Well, it is, without question, worth at least 57M, since that is the debt as it currently stands. So we have a difference of opinion only for the remaining 13M. The lowest offer anyone in the press has reported for RD's purchase is 14M. The highest is 20M. I contend he won't sell at a loss. And that someone will assume all the debt and pay at least the £14M he paid.

    I need to add that enterprise value (equity plus debt) and intrinsic value (actual worth) are very different things.

    That being said, I think I can make a fairly strong case for even paying full boat for the club.
    My house is worth about 475k.

    If I decide to sell I will contact you and sell it for about 3 million.
    Do you owe 3 mil on your 475k house?
    If he did, no-one would buy it, as it's worth 475k.
    Based on.... comparable homes I assume?
    Yes.
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    Uboat said:

    NappaAddick I would be very interested to read how you think CAFC could have a value of £75-80M. Sorry but I think you are deluded

    Well, it is, without question, worth at least 57M, since that is the debt as it currently stands. So we have a difference of opinion only for the remaining 13M. The lowest offer anyone in the press has reported for RD's purchase is 14M. The highest is 20M. I contend he won't sell at a loss. And that someone will assume all the debt and pay at least the £14M he paid.

    I need to add that enterprise value (equity plus debt) and intrinsic value (actual worth) are very different things.

    That being said, I think I can make a fairly strong case for even paying full boat for the club.
    My house is worth about 475k.

    If I decide to sell I will contact you and sell it for about 3 million.
    Do you owe 3 mil on your 475k house?
    If he did, no-one would buy it, as it's worth 475k.
    Based on.... comparable homes I assume?
    If an estate agent came and valued your house at 475k, you’re saying you could turn around and say I owe 3m on it so I’m selling it for that?
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    A house is not a business. A club, for better or worse, is a business with ongoing costs and turnover. No good business sells at or below accounting value. Comparing an ongoing business to a house is not a good choice. There are many things to consider when buying or selling a business. Profit and loss, revenues, land values, etc. Also, estimated future revenues and profits are more important than any current numbers are. Most successful investors buy based upon a discounted estimate of future value, not based on what it is worth, now. Most likely, a smart investor would calculate the value of CAFC in the PL, subtract the likely costs to get us there, which have plenty of data on with Palace, Bournemouth, Swansea, Leicester, etc, and the compare that to what mid-table clubs in the PL sell for. When one does that, you see that paying £70-80M is not that bad a deal. It's not a great one, but it is not a bad one.

    That's fine, but it assumes that you will get promoted. There is absolutely no guarantee of that, which is surely factored in.
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    What scarf is he wearing? Looks like a football one and red and white but not Charlton.
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    What scarf is he wearing? Looks like a football one and red and white but not Charlton.

    I think it's an old Standard Liege photo going by the SL in the background? Strange that they would use that.
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    Don't worry @Weegie Addick ; you're talking more sense than several on here, even if the only one listening is you!
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    Anybody buying Charlton will almost certainly lose loads of money.
    Unless we get to the Premier League.
    But to get there would be very expensive.

    So we're looking for someone incredibly wealthy who is prepared to take a big risk, with only an outside chance of a return on the investment.

    Oh god.
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    Talking to myself, first sign of something.

    Thought you were concerned about @NapaAddick’s choice of neckwear for a moment - a relatively minor issue it seems.
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    edited December 2017

    What scarf is he wearing? Looks like a football one and red and white but not Charlton.

    What picture are you talking to yourself about then @Weegie Addick ?
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    edited December 2017
    RedChaser said:

    What scarf is he wearing? Looks like a football one and red and white but not Charlton.

    What picture are you talking to yourself about the @Weegie Addick ?
    The one on the website about Roland's lifetime achievement award if you click on the link to the original story in Dutch. I do wonder if they are slightly taking the pee though I am no expert on Belgian humour. I doubt RD himself would have selected such a photo with a football scarf round his neck.
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    RedChaser said:

    What scarf is he wearing? Looks like a football one and red and white but not Charlton.

    What picture are you talking to yourself about the @Weegie Addick ?
    The one on the website about Roland's lifetime achievement award if you click on the link to the original story in Dutch. I do wonder if they are slightly taking the pee though I am no expert on Belgian humour. I doubt RD himself would have selected such a photo with a football scarf round his neck.
    Definitely the Standard Liege Crest in the background and highly likely that club's scarf. I wouldn't read too much into the 'Belgium humour' angle more likely lazy journalism on behalf of the author / editor that they have used the first library picture they came across.
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    If I buy a small off licence for 200K, ramp up 4 million in debt through unpaid rent and employing incompetant staff on ridiculous wages whilst taking a large wage myself is that business then worth over 4 million?
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    edited December 2017
    This is getting far too complicated, can't we stick to buying cars from my joint savings account with my wife, doing them up and selling them on at a profit :wink:
This discussion has been closed.

Roland Out Forever!