'Charlton are poised to be the next club to fall into administration, with a takeover bid on the brink of collapse because of debts of up to £40m.
A group of local businessmen who had been in talks about a £30m buy-out were alarmed to discover the extent of the League One club's liabilities.
A source close to the bid said last night: 'The club are going through a slow, painful death. In strict business terms, a club with 10 fewer points, but millions of pounds less debt would be a far more attractive proposition.'
these quotes from the mail on sunday imo as time goes by seem nearer to the truth than i'd have hoped
why has this takeover not been completed is it cos there's a few skeletons in the closet , maybe a few more have come out hence the NO DEAL so far;-(
Well in my view there is a negotiation still going on. If the deal was dead in the water we would have been told by now. If the deal was finalised we would have been told by now. As there is silence and a deafening one at that suggests to me that matters are at a delicate/crucial phase. The fact that it has gone on for so long suggests to me that both parties want it but have yet to reach a financial settlement, acceptable to both sides.
The mere fact that nothing much is happening on the transfer front in or out suggests that everything is tied up waiting for this negotiation to be concluded one way or other.
In a negotiation, often things are bleakest just before they are resolved with brinkmanship to draw out both sides bottom lines.
I once negotiated to buy a business for 18 months and walked away twice before we got the deal done. It was horrible and nerve wracking and balls aching with seemingly insurmountable obstacles being thrown up. The bloke I was negotiating with would agree one thing with me and then he'd speak to his lawyer and then change his position. What was clear was that both parties wanted the deal and the walk aways gavanised the seller to act as a catylist for resolving the obstacles.
Of course we are a far less attractive proposition than Notts County and Bangor City and all the leading lights of the game, we may as well get used to that. Why should Charlton with their recent history and location and stadium be considered a decent purchase FFS?
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A group of local businessmen who had been in talks about a £30m buy-out were alarmed to discover the extent of the League One club's liabilities.
A source close to the bid said last night: 'The club are going through a slow, painful death. In strict business terms, a club with 10 fewer points, but millions of pounds less debt would be a far more attractive proposition.'
these quotes from the mail on sunday imo as time goes by seem nearer to the truth than i'd have hoped
why has this takeover not been completed is it cos there's a few skeletons in the closet , maybe a few more have come out hence the NO DEAL so far;-(
The mere fact that nothing much is happening on the transfer front in or out suggests that everything is tied up waiting for this negotiation to be concluded one way or other.
In a negotiation, often things are bleakest just before they are resolved with brinkmanship to draw out both sides bottom lines.
I once negotiated to buy a business for 18 months and walked away twice before we got the deal done. It was horrible and nerve wracking and balls aching with seemingly insurmountable obstacles being thrown up. The bloke I was negotiating with would agree one thing with me and then he'd speak to his lawyer and then change his position. What was clear was that both parties wanted the deal and the walk aways gavanised the seller to act as a catylist for resolving the obstacles.