Exclusive: Charlton board ready to write off £30million
Monday, 06 July 2009
By Richard Cawley
RICHARD Murray has revealed that Charlton’s major shareholders are ready to lose £30million of their own money to push through a takeover of the club.
The Addicks chairman has ploughed £7.5million into the club during his 20 years at The Valley but is prepared to not get a penny back providing the right buyers can be found.
We exclusively revealed on April 24 that the club’s former chief executive Peter Varney was fronting a bid.
And the South London Press understands that their takeover could be completed within the next couple of days - allowing them to be in control within two weeks.
Murray has refused to comment - or even confirm - that talks were going on behind the scenes.
But the Charlton supremo has spelt out themassive financial hit the current board are prepared to take if the right people make an approach for the club, which is kicking off next season in League One.
Murray said: “It is a huge commitment to write off the money we’ve invested. But I knew when I came into the club that I had to be willing to lose my money. Luckily I told the investors I brought into the club that they had to be prepared to do the same - and I think I’ll be proved right. But the club will carry on.”
Don't miss tomorrow's South London Press for Murray's exclusive comments.
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Wonder what the Your Views lot will make of this?
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I just hope when/if a deal is done, he comes out of it OK - both in financial terms and in his standing with the fans.
Some may disagree but I'd like to see a tribute to him at The Valley. Why do we always wait till people die before we honour their contributions?
NG is probably composing a posting of 'umbleness at this very minute....NOT ! Uriah Heep could have taught him a lesson or two.
Makes Thursday evening's Q & A session a must now ! I have a spare ticket if anyone wants to use it ....
Oops don't know what happened there but agree with all that you've said Valley11
Nearer £ 20 million than £50 ala Zabeel time .
So the directors are prepared to write off £30 million, is that share price, loans, loss of interest! What exactly, based on when......
I would imagine that WestHam have lost a lot more than than, and they have not fallen 2 leagues.
Looks like you'll just have to buy the SLP tomorrow Ken!
The sad thing is it never had to be like that.Terrible decision making over the last couple of years has cost them dear.
Not all their fault,and losing that sort of money must keep them awake every night.But they have to take a large portion of the blame i'm afraid.
The decision to appoint Dowie would probably have been opposed by 75% of fans, whereas 75% would probably have supported Pardews appointment at the time. So I don't think we can be overly harsh on all the decisions made that have contrived to work against us.
Proof in those few words at the end of the dire situation we are in - no takeover, no future.
Texaco is a Footbal League Sponsor so I guess we're obliged to feature them as we're a member of the football league?
No, Texaco are part of the Irish/Arab consorium taking over. It's now an Irish/Arab/American thing.
We just need a Far Eastern and a Russian company to come in and the board meeting will look like a United Nations conference!
Spot on.
The Sun breaks a true story about CAFC - is that a first ? Or is it simply the typewriters and chimps analogy : eventually the monkeys will write Shakespeare and finally a Sun 'exclusive' turns out to be correct !
Is Parky clearing out his locker as we speak, I wonder? I've got a spare afternoon and could happily get myself down the training ground to help him, if he likes...
Of October
That would be telling
Just checked Millwall and Gills o/s (feel so dirty) and neither of those have a Texaco symobl ?
They are already the new shirt sponsor which will be unveiled tomorrow night at Welling so it wouldn't surprise me if they are behind it...
If you go onto the OS and hover over the Texaco symbol in the bottom left hand corner a little message comes up which says 'Texaco - A Football League Sponsor'. That's where I got the info from