Not putting this in the Takeover thread because that has become just too silly. I am sure I am not alone in no longer looking at that thread.
I am pretty sure the Takeover was pretty near conclusion at the beginning of the season. I don't state this because I know anything or anyone connected to the Takeover; it is based purely on what I have read here, on other message boards and in the papers.
I have been wondering if Charlton's phenomenal start (results wise at least) has caused the Takeover talks to stall. Maybe the money backing the Takeover was contingent on the installation of a new management team. Such a step would seem ludicrous now!
Alternatively, the current directors have suddenly decided that the current squad and management have a real chance of achieving a very quick return to the Championship and therefore they are no longer willing to sell at all or no longer willing to sell at the rock bottom price that was offered at the start of the season.
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Also, on another point, why the silence again. I understand confidentially agreements and so on, but surely someone, somewhere is allowed to say that "talks are ongoing" or "talks have stalled"............remember, supporters are shareholders too !!
It is all guess work.
If I say it is either on or off, either the buyers fault or the current boards, due to the good start or not or maybe something else then I'm "pretty sure" that I'm right with one of those guesses but then again it could be something or someone else entirely.
Which ever it is I told you so ; - )
They'd know how exactly?
Because Steve Waggott (overworked and underpaid CEO) and David White (Director) were at the meeting and said so.
4. Takeover/Transfer Update: Steve Waggott indicated that the talks between potential investors and the club are still ongoing. David White pointed out that there are many people working 18hrs per day on behalf of the club, 7 days per week to try and attract new investment in to the club. David White continued that the delays with any takeover have not been driven by the club itself and there are no internal politics. It was suggested that the club had attracted more than one investor over the last few months, David White said in his opinion that the quickest any deal at the moment could go through would be within the next month.
Steve Waggott reiterated that the club is definitely looking for investment, but so are many other clubs and that the directors are determined to get the deal that is best for Charlton Athletic. Stephen Kavanagh said, that the silence regarding the takeover is in the club’s best interests and that the club would not want a situation like Newcastle United or Portsmouth, where the takeover is played out in the media.
read the rest here http://www.charltonlife.com/forum/comments.php?DiscussionID=28805&page=1#Item_11
Who have an amazing record of actually answering questions, as of late.
If they are still trying to attract new investment, surely that would mean there is no deal currently 'near conclusion' as had been suggested previously.
No, not at all and as a law student you should know better ; - )
Where did the Club say "near conclusion" and how are you defining "near"?
It says "new investment". It doesn't specify in what way the investment is new. New as in new to the Club which of course any investment would be or new as in different from previous proposed investment. It could be read either way.
I kinda meant the suggestions from the rumor mill. That statement would suggest that there isnt anything on the table to the extent that some of us thought there was.
In his opinion, I'm pretty sure many would consider keeping your entire client base in the dark a bad thing and certainly not the best for 'Charlton Athletic'
What the ****, it's still about the sodding legals at the moment, I'm sure they'll talk when they can, and then you can find something then to jump up and down about.
It's all 'Me me me'
On the bright side I suppose allowing the rumors to continue sold a few ST's
Takeover...........pah. I believe it when i see it !!
No, they said they are seeking new investment and that for legal reasons they can't say more.
And your evidence for that statement is what exactly? You are going to get torn apart in a court of law if you come out with statements like that.
My guess is that you could probably fill a coach with the amount of people who have 'expressed an interest' over the past six months.
We can speculate to the cows come home on why it hasn't happened, but that won't change the bottom line. Either none of them have wanted it enough, or the package to assume the clubs debts, running costs and pay off the bond holders is simply too much of an outlay.
I can imagine, as suggested in those FF minutes, that 'some' Charlton people have been working tirelessly to either find and assist potential new investment, or rework our current model to ensure we continue in our current form without selling any of our main players. I see the signing of Shelvey on a new contract as crucial to that, because there was talk that his old contract contained a particularly low buyout clause. Overnight, his value probably doubled, which has provided some security that wasn't previously there.
I can equally imagine there are others on the board that have done very little, who have simply wanted out, or their money back, who are now probably suddenly interested again after we have had a decent start and worked a more tangible model.
I have no idea whether this will all end with a takeover or a continuation of our current board (if pushed my guess would be the liklihood is looking more and more like the later for the now with some minor changes), but i do know that there are very few people at the top of the club that i would trust, or go over the wall for anymore.
I think i and others were seduced in the past with the thought that everyone on the board is a Charlton / football fan first, but i think the reality is the majority are very much driven by their ego or self-interest. Which is a shame.
Rightly or wrongly, there was a widely held belief that we could go into administration before Xmas, and at least one report that prospective new owners might be prepared to wait and see that happen in order to get a better price.
Above expected s/t sales and better-than-hoped-for gates have presumably helped at the very least to delay the predictions of financial armageddon. Plus directors who were justifiably concerned about a disastrously low return on their investment can now, quite legitimately, revise their expectations upwards about the chances of an immediate return to the championship.
Who knows how all this plays on the negotiations? But the value of any company is not measured on its balance sheet alone but also on expectation of future performance. And there is no doubt that on that level, Charlton's stock has risen considerably over the past two months.
I think the board have stuck to their guns price wise, and good luck to them, business as usual, secure your assets, and cling on to them while adding if possible, very sensible.
I still don't understand why the FF QA with the Chairmen that was arranged can't now go ahead as the recent minutes seem to indicate we are no longer in any sort of DD period, sorry if that offends some on here.
First I've heard of it ........
I also wasnt blaming the board for what the rumor mill had said, just that it doesnt match up with what the board are saying!
as for the rumors selling season tickets, i know of one person who wasnt going to get a st but then decided to get one due the the prospect of the takeover! Pretty stupid on their part and im not saying this was all some plot made up by the board!
As for what steve thinks, surely thats his opinion, certainly not one I agree with! I'd much rather know what was happening at my club!
Even old Tangoman knows that football at our level is a financial blackhole and that once you put it in you wave goodbye to it.....
"but i think the reality is the majority are very much driven by their ego or self-interest. Which is a shame." - agree with that
Have you thought that perhaps they are close to something happening and arranging something with the current incumbent may be worthless if it is going to be someone else by next week?
And when do we get to start using the word FACT?
nope
well yes I have really (seem to be too many just around the corners to me) and in that case why arrange it in the first place?