So it is the Aussies who are trying to screw the ex directors?
They haven’t offered them a so-called ‘haircut’. Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick
oh i have missed the Its Happening Gifs
In your dreams, I've fallen for Mr James Seeds itk before!
If Aussies want a 'clean title' why? Do they want to raise funds by mortgaging the stadium/land? That could result in the club being in financial trouble should their plan/ambitions go wrong.
If they want the 'clean title' why not just pay the ex-directors off as it seems quite clear RD isn't going to do it.
If, and I don't know if true or not, Muir with all his wealth doesn't want to do this on his own, why is he still trying to get a group together after 2 years?
and finally, Lee and the team surpassed all expectations last season by getting us promoted on a shoestring, if they are intent on buying us surely they would have secured Lee's services again by now and not leave it to RD or when his conrtract runs out in 20 DAYS time?
The three directors RD has blamed for holding up the takeover are owed a total of £2.65m.
If he for example only wants to pay them 50% then RD is delaying the takeover for the sake of £1.32m.
Even if the clubs losses are cut to say £6m a season, the takeover dragging on another 3 months means he may have to put another £1.5m into the club.
He’s likely to get £30m+ by selling the club and potentially further payments if we’re experience any success on the pitch.
Have the other directors agreed to be paid a % of their loan and therefore RD is refusing to pay any of them off in full?
That would be a kick in the b@llocks from the Aussies aswell then. No it's not thier debt , but after all this time and the season 2 months away the Aussies are going to mess about over £1.3 million. Can't see it. If Roland decides to settle the £1.3 million just before the start of the season the Aussies will have a few weeks to get in the players the manager wants.
I believe it’s £7m the Aussies are dealing with now. I’ve a possible solution to the current impasse, but it would involve compromise by Roland, which might be a stumbling block.
But it's not.
The ex Directors are prepared to take a hair cut, as long as he sells lock, stock and barrel. RDs post suggests that he has already agreed with the majority of the ex Directors (though David White has questioned that).
At least the position seems more fluid now that LvT has contacted them at last.
Is that correct? Bob Whitehand has this morning said on Twitter that he’s never met or spoken to Duchatelet.
Are you certain he has.
He may not have spoken to or met RD, but LvT has been in touch with all the ex Directors now.
Rudders, read above & note that Brunello is a trusted source.
So it is the Aussies who are trying to screw the ex directors?
They haven’t offered them a so-called ‘haircut’. Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick
oh i have missed the Its Happening Gifs
In your dreams, I've fallen for Mr James Seeds itk before!
I’m not trying to con anyone thanks very much.
have a breather JamesSeed, you're getting a bit defensive. Many of us appreciate your input and updates. We don't expect them and we don't hang on every word given a past failing.
Don't take it to heart.
Also some people like to dismiss just about anything.
Let’s just face it we used up a lifetime of luck with 1998 and 2019 play off wins we dared let a black cat cross our path now we are doomed to dull wankdomness as a football club while palace and the scum laugh as they continually finish above us in the footballing structure It’s what we truly deserve for years of pitiful away support I’ve accepted it , will you
The three directors RD has blamed for holding up the takeover are owed a total of £2.65m.
If he for example only wants to pay them 50% then RD is delaying the takeover for the sake of £1.32m.
Even if the clubs losses are cut to say £6m a season, the takeover dragging on another 3 months means he may have to put another £1.5m into the club.
He’s likely to get £30m+ by selling the club and potentially further payments if we’re experience any success on the pitch.
Have the other directors agreed to be paid a % of their loan and therefore RD is refusing to pay any of them off in full?
That would be a kick in the b@llocks from the Aussies aswell then. No it's not thier debt , but after all this time and the season 2 months away the Aussies are going to mess about over £1.3 million. Can't see it. If Roland decides to settle the £1.3 million just before the start of the season the Aussies will have a few weeks to get in the players the manager wants.
I believe it’s £7m the Aussies are dealing with now. I’ve a possible solution to the current impasse, but it would involve compromise by Roland, which might be a stumbling block.
But it's not.
The ex Directors are prepared to take a hair cut, as long as he sells lock, stock and barrel. RDs post suggests that he has already agreed with the majority of the ex Directors (though David White has questioned that).
At least the position seems more fluid now that LvT has contacted them at last.
Is that correct? Bob Whitehand has this morning said on Twitter that he’s never met or spoken to Duchatelet.
Are you certain he has.
He may not have spoken to or met RD, but LvT has been in touch with all the ex Directors now.
Rudders, read above & note that Brunello is a trusted source.
Don’t ever recall me or anyone saying that LvT has spoken to the ex directors?
In which case I owe you a massive apology, as I have misunderstood your post at 11.55am. It appears that you requoted Addickted, but made no comment. I thought it was you that had made the comment. Sorry.
James, I know you can;t say too much. Has there been significant change towards the sale of the club since Wembley? Are there a lot of things going on the background that they are negotiating towards the completion? Are we getting towards the end game now? You mention more will be revelaed in the next few days regarding the loans. Is this something different from what Airman Brown had David White have said? (sitting here with popcorn in one hand and a drink of coke in the other).
Good questions, but do you seriously think I’d say ‘we’re getting towards an endgame’ after I got into trouble for saying ‘the Aussies are hoping it’ll take two weeks or so’ a year ago. ;-) No way! (Although I’m certainly more optimistic than I was a couple of months ago).
But yes, there has been a significant change since Wembley. And again, from two sources. And yes there are things going on in the background, and hopefully progress can be made. Hopefully the directors or the Aussies will fill in the details if and when they feel they can.
Thanks for the comment about the questions mate. I never gave you grief but I know others did. I will keep my fingers crossed.
David Hughes David Sumners David White Sir Maurice Hatter Richard Murray 56 Developments LLP (Bob Whitehand) Harmsworth Pension Funds Trustees (No.2) Limited
so Roland has moved the goalposts then. At least it seems that the Aussies are trying to get a deal concluded by making a couple of offers to the former directors involved. If they have spoken to the former directors and now LDT has too let's pray some compromise can be found.
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
So it is the Aussies who are trying to screw the ex directors?
They haven’t offered them a so-called ‘haircut’. Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick
oh i have missed the Its Happening Gifs
In your dreams, I've fallen for Mr James Seeds itk before!
I’m not trying to con anyone thanks very much.
have a breather JamesSeed, you're getting a bit defensive. Many of us appreciate your input and updates. We don't expect them and we don't hang on every word given a past failing.
Don't take it to heart.
Also some people like to dismiss just about anything.
Not taking it to heart at all mate. Finding it all quite amusing second time round. It’s just frustrating not being able to give away very much.
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
how can you assume that? How do you know what their budget will be?
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
Irs not all about budget though. Its a having a plan/strategy and not just bobbing along.
So it is the Aussies who are trying to screw the ex directors?
They haven’t offered them a so-called ‘haircut’. Let’s leave it for them to sort out folks. Things are ongoing, and probably changing hour by hour, so hard to comment further. @Bedsaddick
oh i have missed the Its Happening Gifs
In your dreams, I've fallen for Mr James Seeds itk before!
I’m not trying to con anyone thanks very much.
have a breather JamesSeed, you're getting a bit defensive. Many of us appreciate your input and updates. We don't expect them and we don't hang on every word given a past failing.
Don't take it to heart.
Also some people like to dismiss just about anything.
Not taking it to heart at all mate. Finding it all quite amusing second time round. It’s just frustrating not being able to give away very much.
When you tell us the deal has been done, all will be forgiven
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
Irs not all about budget though. Its a having a plan/strategy and not just bobbing along.
I'd rather support a well run Club I can be proud to support in League Two than a Roland run Club in the PL.
Anyone scratching their head on our current predicament may find this useful.
Currently Charlton has higher debts than the value of the business, as there is more debt on the balance sheet than people are prepared to pay. As a result Charlton is technically insolvent and is only not declared insolvent because RD guarantees to pumps money in each year to stop it doing so. We all understand the consequences of Charlton being declared insolvent in terms of points deductions etc. This is pretty much the same for all football clubs that are taken over outside of the premier league as almost all are run at a loss, even if they meet the obligations of FFP.
In the real world, if you owned a factory in the same situation you'd put the business into administration and sell the business to the new company. All of the creditors at that point would get back less than they were owned. With the taxman and secured creditors first in the queue and unsecured creditors at the back of the line. At that point the new owners would have paid the businesses worth and own the business with a clean slate from that point on.
Alternatively they could buy the business for a £1 (as you see on the news all the time, recently with British Steel) in return for the business keeping some or all of those debts on the balance sheet. The new owners would have paid less cash up front, but they would need to convince the existing creditors to back their business plan and vision in order for them to get paid. Often in this scenario, this deal is the only game in town.
It sounds like RD is putting pressure on the ex Directors to accept less than their due, so that they share the pain of his mismanagement. However they are first in the queue so if the unthinkable happened and we were declared insolvent that would be very likely to get their money back as the value of the assets (Sparrows lane and the Valley) far outweigh the value of their loans. If they do take less than they are owed then they are being very generous in my opinion.
Its unusual to buy a business with contingent liabilities like the loans we have as generally, if you are paying a substantial amount, you want clean title to the assets. RD gets blamed for not doing thorough DD on the way in, though I would suggest what he paid for club was lower than its worth so these loans must have been factored in in the price he paid. They now seem to be a bit of an albatross round his neck as it seems the buyers aren't seeing it the same way as he did on the way in.
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
Irs not all about budget though. Its a having a plan/strategy and not just bobbing along.
I see what you did there Rosie 'when the Red, Red Robin goes............'
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
Irs not all about budget though. Its a having a plan/strategy and not just bobbing along.
I think some sort of decent budget is a big part of any plan/strategy unfortunately though mate, regardless who ends up taking over
Yours efforts to keep us informed are much appreciated by many on here, including myself, Mr Seed.
I'm heartened to hear that Team Oz are attempting to get around the impasse. It's just a shame that, ultimately, they will need the agreement of a nutty, bullshitting Shitweasel.....who seems determined not to sell the club!
People not wanting the Aussies, is just ridiculous. If the recent VoTV is anything to go by I can just imagine RD moving the goal posts constantly. I imagine it’s just as frustrating for them as it is for us.
We’re talking millions of pounds, yes in the grand scheme of things 7mil is not a lot in comparison to the sale. However, these people are businessmen, they didn’t get their wealth by spending 7mil willy nilly.
If they’ve stuck around this long , that shows me they have an interest to get the club to the promise land. Surely they’d have given up by now if it wasn’t worth it to them.
Just see see how it pans out with them... everyone thought Roland was the best thing since sliced bread at first.
Yours efforts to keep us informed are much appreciated by many on here, including myself, Mr Seed.
I'm heartened to hear that Team Oz are attempting to get around the impasse. It's just a shame that, ultimately, they will need the agreement of a nutty, bullshitting Shitweasel.....who seems determined not to sell the club!
I think RD is absolutely dying to sell the club, but there's also a large part of him that just can't take loss and this bit is winning at the moment. I think this dilemma is driving the booking bonkers tbh
33 million ! What happened to the 65 million ? For the love of Charlton some one cough up 40 million and buy Cafc lock stock and barrel and pay off Murray and co, so they can just be fans again and we can say Roland who. ASAP.
Thanks Rick for sharing yet another Roland to blame exclusive, who would of thought it? Duchatalet is a prick, despite for too many false dawns it feels like the end game may finally be playing itself out, but with this berk at the helm we cant be certain yet.
Comments
Don't take it to heart.
Also some people like to dismiss just about anything.
we dared let a black cat cross our path
now we are doomed to dull wankdomness as a football club
while palace and the scum laugh as they continually finish above us in the footballing structure
It’s what we truly deserve for years of pitiful away support
I’ve accepted it , will you
It’s just frustrating not being able to give away very much.
For £35m they could clear the problem debts and I'd welcome them if they do that...
Currently Charlton has higher debts than the value of the business, as there is more debt on the balance sheet than people are prepared to pay. As a result Charlton is technically insolvent and is only not declared insolvent because RD guarantees to pumps money in each year to stop it doing so. We all understand the consequences of Charlton being declared insolvent in terms of points deductions etc. This is pretty much the same for all football clubs that are taken over outside of the premier league as almost all are run at a loss, even if they meet the obligations of FFP.
In the real world, if you owned a factory in the same situation you'd put the business into administration and sell the business to the new company. All of the creditors at that point would get back less than they were owned. With the taxman and secured creditors first in the queue and unsecured creditors at the back of the line. At that point the new owners would have paid the businesses worth and own the business with a clean slate from that point on.
Alternatively they could buy the business for a £1 (as you see on the news all the time, recently with British Steel) in return for the business keeping some or all of those debts on the balance sheet. The new owners would have paid less cash up front, but they would need to convince the existing creditors to back their business plan and vision in order for them to get paid. Often in this scenario, this deal is the only game in town.
It sounds like RD is putting pressure on the ex Directors to accept less than their due, so that they share the pain of his mismanagement. However they are first in the queue so if the unthinkable happened and we were declared insolvent that would be very likely to get their money back as the value of the assets (Sparrows lane and the Valley) far outweigh the value of their loans. If they do take less than they are owed then they are being very generous in my opinion.
Its unusual to buy a business with contingent liabilities like the loans we have as generally, if you are paying a substantial amount, you want clean title to the assets. RD gets blamed for not doing thorough DD on the way in, though I would suggest what he paid for club was lower than its worth so these loans must have been factored in in the price he paid. They now seem to be a bit of an albatross round his neck as it seems the buyers aren't seeing it the same way as he did on the way in.
I think some sort of decent budget is a big part of any plan/strategy unfortunately though mate, regardless who ends up taking over
I'm heartened to hear that Team Oz are attempting to get around the impasse. It's just a shame that, ultimately, they will need the agreement of a nutty, bullshitting Shitweasel.....who seems determined not to sell the club!
We’re talking millions of pounds, yes in the grand scheme of things 7mil is not a lot in comparison to the sale. However, these people are businessmen, they didn’t get their wealth by spending 7mil willy nilly.
If they’ve stuck around this long , that shows me they have an interest to get the club to the promise land. Surely they’d have given up by now if it wasn’t worth it to them.
Just see see how it pans out with them... everyone thought Roland was the best thing since sliced bread at first.
What happened to the 65 million ?
For the love of Charlton some one cough up 40 million and buy Cafc lock stock and barrel and pay off Murray and co, so they can just be fans again and we can say Roland who. ASAP.