[cite]Posted By: SpicedAddick[/cite]Guh, sounds good, I think...
Must be the final nail in the coffin of the takeover.
No, it'll keep going.
Current plc chairman Chappell said: "We have been working extremely hard in recent months to attract new investment into the club, and indeed have made progress with a number of interested parties only for that interest to fail to result in any tangible benefit. Attracting new investment into the club continues to be our primary objective.”
Also note it says "a number of interested parties". It's never been "the" takeover, sounds like there's been several groups interested (which we kind of knew anyway).
This will hopefully keep us going, keep the better players at the club, and perhaps a good season would help attract new investment.
Read the story, hoping someone can translate it into a comprehensible analysis, I did notice this bit:
'Chief executive Steve Waggott will assume full responsibility and accountability for all playing squad issues and budgets'
My initial thoughts are that I am a shareholder of one single organization now, there have been lots of movements, where the powerful and decision makers stay as directors, and the great and the good become honoured by gaining the status of vice presidents.
Looks like the geordie smiler has fallen in a pot of jam tho'! =]
I don't read it as a final nail in the coffin of a takeover, more, that the board feels that the club has value which has not been reflected in the offers thus far made. My guess is that tthe potential purchasers of the club felt they were in a buyers market and they gambled that eventually, with no money left, the board would capitulate and sell the club for a "song". Some of the directors clearly have more money available than appeared to be the case and have decided to play it long in the hope that success on the pitch will drive the club nearer to what they consider to be it's true value. A Takeover may yet happen but the club is in a much stronger position now than six months ago.
All in all this is good news. Maybe not the spectacular news that a Zabeel like deal has been struck but good news nonetheless. Personally, despite the mistakes of recent times, with RM at the head, and with the manager, the coaches, and the team back to the Charlton way of a few years ago, with the whole being greater than the sum of the parts, I am really enjoying being an Addick again. Long may it continue.
[quote][cite]Posted By: Bolderhumphreyreid[/cite]Gutted that there are no rich arabs (yet) but totally happy and content knowing that we're cool for another season at least.
Don't even want to think what will happen if we didn't get promotion![/quote]
They have got a much more saleable product to get a return on their investments?
Agree with Bing. I don't see this as the end of any possibility of a takeover. That will always be there. It may not be imminent but Chappel is still saying it is the "primary objective"
Interesting that only one non-PLC director is on the new board, David White, which is very good news IMHO. Someone who always talks with the best interests of the fans and Club long term at heart and someone who has shown his willingness to work with fans both with the Fans Forum and Target 40k.
And thanks to all the new vice presidents. Some good Charlton people in their who deserve continuing recognition.
Having one, smaller board makes sense although the PLC board made all the big decisions anyway.
Still a lot of things that the statement doesn't say. Where has the £7m come from? Why have the land sales been reversed?
And what form does this investment take? Loans, equity, bonds?
So I'm now off to bed with two songs in my head.
"there are more questions than answers" and that one by the Who about "met the new boss, same as the old boss" : - )
£7m to keep the club working at its present level until the end of the season. Then I would imagine the "friendly" debt will be £22m. The new board of directors will still have to find a way to balance the income/expenditure for the 2010/2011 season if new investment is not found, otherwise they will be looking to either increase the debt once more (if players sales are not what is wanted) or more likely to cut our cloth accordingly, which is where Steve Waggott's clarified responsibility lies. If we do not get promoted, I would imagine that the "budgets" referred to would have to be much tighter next season, if the spiraling debt is to be checked somewhat.
Im not going to pretend that i know what all that means, but i can workout that it seems to be good news, and things are looking better now than at the start of the season, which is fine by me!
The rebuilding starts from here and long may it continue.................. Up The Addicks!
[cite]Posted By: Henry Irving[/cite]Agree with Bing. I don't see this as the end of any possibility of a takeover.
"there are more questions than answers"
agreed, once the mortgage on the ground is paid off, (the £7m will be used to service the current seasons obligations and may reduce the outstanding debt to the lenders) the owners of the clubs assets and those servicing the club debt will be one and the same. Easier then for the "new" board to decide on the merits of any future investment/sale possibilities, with the new independent company secretary and legal adviser doing what it says on his can.
We will be a going concern as a mid to top level championship team and I think at that stage the boys will get the money they want and all
Parties will be happy and so we can get the money to push on .... Or not, either way I am happy as long as my ckub is
Alive and playing football, I am happy... A few wins is nice as well....
A £7m investment in the club is not to be sniffed at, so this sounds like good news to me.
I wonder if the Bank will give us back our overdraft facility now...........:-)
Im with Bing and little sis. Good news. Steadying the ship with Charlton men with Charlton in their heart. Am pleased. Lets see what happens in the next 12 months and hope we get promoted and become more handsome. But do we really want strangers running our club?
Good to see my pal David White up there. As Ben says he is one of us and although not confirmed yet i think he is on the CLIT Yeovil trip.
[cite]Posted By: Curb_It[/cite]
Good to see my pal David White up there. As Ben says he is one of us and although not confirmed yet i think he is on the CLIT Yeovil trip.
Agreed. Congratulations DW if you read this.
Plenty of positives in there, but plenty of other things i'm really not sure about. Some of it i find curious and contradictive, and expect a spoonful of spin to be accompanied with it.
Have tried writing it all down in words for the last couple of hours, but can't get anywhere near concluding it. Will be something for tomorrow now.
Comments
But seems like good news, however what's happened to the debt? have directors written off there loans?
Must be the final nail in the coffin of the takeover.
Hopefully the final nail in the coffin of the TAKEOVER thread.
But still it's better than having a transfer embargo and the embarrassment of not being able to pay your former staff their dues.
Fair play to the board I say, £7 million is SERIOUS commitment.
No, it'll keep going.
Also note it says "a number of interested parties". It's never been "the" takeover, sounds like there's been several groups interested (which we kind of knew anyway).
This will hopefully keep us going, keep the better players at the club, and perhaps a good season would help attract new investment.
No Arabs millions, but the continued support of a Board that has Charlton's interest at heart.
'Chief executive Steve Waggott will assume full responsibility and accountability for all playing squad issues and budgets'
My initial thoughts are that I am a shareholder of one single organization now, there have been lots of movements, where the powerful and decision makers stay as directors, and the great and the good become honoured by gaining the status of vice presidents.
Looks like the geordie smiler has fallen in a pot of jam tho'! =]
Most importantly theyve announced we dont have to sell anyone this season, which is great news
I would imagine that the "friendly" debt just got a bit bigger !
They have made it clear that the primary objective is still to try and attract new investment.
Don't even want to think what will happen if we didn't get promotion!
That's how I see it, anyway.
All in all this is good news. Maybe not the spectacular news that a Zabeel like deal has been struck but good news nonetheless. Personally, despite the mistakes of recent times, with RM at the head, and with the manager, the coaches, and the team back to the Charlton way of a few years ago, with the whole being greater than the sum of the parts, I am really enjoying being an Addick again. Long may it continue.
Don't even want to think what will happen if we didn't get promotion![/quote]
They have got a much more saleable product to get a return on their investments?
it still proper Charlton
all this foreign money scares me..............I wouldn't want to be QPR at the mo
stability thats what we need & thats what we have
LLL&BH
:-D
Amen to that!
Interesting that only one non-PLC director is on the new board, David White, which is very good news IMHO. Someone who always talks with the best interests of the fans and Club long term at heart and someone who has shown his willingness to work with fans both with the Fans Forum and Target 40k.
And thanks to all the new vice presidents. Some good Charlton people in their who deserve continuing recognition.
Having one, smaller board makes sense although the PLC board made all the big decisions anyway.
Still a lot of things that the statement doesn't say. Where has the £7m come from? Why have the land sales been reversed?
And what form does this investment take? Loans, equity, bonds?
So I'm now off to bed with two songs in my head.
"there are more questions than answers" and that one by the Who about "met the new boss, same as the old boss" : - )
Why make that point at all?
And does he deserve a pay rise to say £150k a year as a result : - )
Stability and wolf kept from door......
Overall good news I think, at least in the short term.
EDIT: Where does all this leave the embryonic Supporters' Trust or does it make no difference?
The rebuilding starts from here and long may it continue.................. Up The Addicks!
agreed, once the mortgage on the ground is paid off, (the £7m will be used to service the current seasons obligations and may reduce the outstanding debt to the lenders) the owners of the clubs assets and those servicing the club debt will be one and the same. Easier then for the "new" board to decide on the merits of any future investment/sale possibilities, with the new independent company secretary and legal adviser doing what it says on his can.
We will be a going concern as a mid to top level championship team and I think at that stage the boys will get the money they want and all
Parties will be happy and so we can get the money to push on .... Or not, either way I am happy as long as my ckub is
Alive and playing football, I am happy... A few wins is nice as well....
Would imagine that it makes no difference whatsoever Len and the ST should continue full steam ahead.
I wonder if the Bank will give us back our overdraft facility now...........:-)
Good to see my pal David White up there. As Ben says he is one of us and although not confirmed yet i think he is on the CLIT Yeovil trip.
Agreed. Congratulations DW if you read this.
Plenty of positives in there, but plenty of other things i'm really not sure about. Some of it i find curious and contradictive, and expect a spoonful of spin to be accompanied with it.
Have tried writing it all down in words for the last couple of hours, but can't get anywhere near concluding it. Will be something for tomorrow now.