More money coming in. That's good, but the nature of the money and how long it will 'stabilise' us for is unclear.
Directors who appeared to want out a few weeks ago now want in. Why? Taking a punt on getting more money for the club in the Championship? That's still a long way off in my view. And I don't see that we will be particularly attractive when we get there.
i dont think this is fair tbh, no one said they wanted out and some of them have worked bloody hard to ensure that atleast this happend, take over talks didnt fail they just never materialised into offers not unless you count the 1 that wanted us to go into admin so they could get it cheaper and we get -10 points
we are healthier now than we were 10 weeks ago both on and off the pitch, the club can now move forward in a less confusing way and we only have a handfull of people to ratify major decisions instead of a hatfull who could never agree.
so we are still not dining at the table with kings and queens but one day our seat will be saved and we will once again dine on the finest fair of all
I think this latest statement really does show just how vital promotion is this season. It is still obvious that the club as it stands is leaking money at an unsustainable rate and the new investment is a huge throw of the dice by the new board. Will this seven million last beyond this season ? I doubt it very much but what it does mean is that Parkinson has been given a clear run at gaining promotion with a very decent squad without fear of losing any of them. Quite an acheivment by Murray and co if you ask me. Not sure that I can see the argument that says Charlton are a more attractive investment opportunity in The Championship. More revenue yes but not an awful lot more. I would think that Charltons ace card in attracting a buyer is the stadium and its location but it seems that has not worked thus far. Think this is very much a make or break season for us. Failure would mean the squad being broken up and serious financial doo doo without that takeover. As far as I am concerned it means that just like Parky and the players I can concentrate on the football and push those worries to the back of my mind..........for the moment anyway.
Agree with you SHG other than a CCC side would be more attractive on the basis of being more likely to balance its budget and being only one step away from the Prem.
The stadium and location are still positives but crowds would increase in the CCC as would TV income and significantly so for our budget.
Buyers would also be looking at a Club on the up rather than on a slide.
I still think that there are a lot of unanswered questions and unresolved issues.
If this is a re-structuring that means we can operate in the CCC on a balanced budget but without huge money to spend and selling a good player every couple of years (think Bowyer and Mills) as in the 90s then I would be content with that as the difference will be made by how well the club and team is managed, again as was the case in the 90s under Curbishley (and Murray/Varney).
Or is this getting all the ducks in line so that we can be sold quickly and easily to any prospective buyer perhaps with liabilities/issues that were deal breakers before now removed.
Or is it just a sticking plaster to allow us to get through this season in the hope of promotion and maybe a takeover to bail us out sometime/never.
Really don't know and my initial relief that extra money had come in is now turning to concern that the future, in the medium term at least, is still not clear or secure.
But I'm still happier that the deal was done rather than not and that the seven put that money in because the alternative of selling players or worse didn't seem very attractive.
its a sticking plaster which could probably only be achieved by a consolidation of the real financial position and ownership, we are now fully owned by our friendly creditors, not necessarily a bad thing.
Or is it just a sticking plaster to allow us to get through this season in the hope of promotion and maybe a takeover to bail us out sometime/never.....
That happens to be my view of it Henry.
One positive outcome of the failure of the latest takeover talks is that it provides more time for the Supporters Trust to build some momentum and hopefully voting control over a reasonable number of shares. It's already got pledges of voting proxies for over 500,000 shares and if it could get to 1 million shares relatively quickly that would be a great achievement. Of course, ultimately to be able to control 10% would mean that it could not be bought out if a takeover were to occur.
While we are right to be applaud the new board members for stabilising the finances in the short term, we should not take our eye off the bigger picture that, in all likelihood, the ownership of CAFC will change at some point over the next 12-18 months and an established and credible Supporters Trust potentially has a important role to play in representing our interests. Even without a change of ownership, we're yet to see whether the board re-organisation will be accompanied by a resumption of the open and frank communication from the Club that we were once accustomed to.
Not a moment to waste if you ask me.
[cite]Posted By: Henry Irving[/cite]
Really don't know and my initial relief that extra money had come in is now turning to concern that the future, in the medium term at least, is still not clear or secure.
But I'm still happier that the deal was done rather than not and that the seven put that money in because the alternative of selling players or worse didn't seem very attractive.
Agree with you Henry. Plus RM is back at the helm, that is a positive........ isn't it?
Next meeting of the Supporters' Trust is 14th October.
It is open to anyone to come along especially if you want to get involved as an acting officer, want to be on one of the working groups or just help out.
A question...the press release mentions a £7m investment.
Does that cover buying out some of the directors with smaller shareholdings (ie those who became VPs) or does it just concern money pumped into the club itself?
This is simply a promise by the directors to make up any shortfall inthe finances up to a figure of £7m.
If we have a good Cup run and some more TV games - they may end up paying much less than this, and potentially nothing extra at all (although this is unlikely).
As many have said already, this is just a streamlining of the board so that when the right offer comes in - we will take it swiftly. Even with promotion we will still have a shortfall next year, which nobody has promised to address because it is too early - but we will still need to boost he squad - and who will pay for this?
This news is fine for now, but nothing to get excited about.
I see this as a positive step, in that the TAKEOVER thread can continue to push towards a xmas no 1 and the target 10000 posts it has set in its constitution.
[cite]Posted By: Steve Dowman[/cite]I see this as a positive step, in that the TAKEOVER thread can continue to push towards a xmas no 1 and the target 10000 posts it has set in its constitution.
FACT
Does anybody still read the Takeover thread......... ?
I'm, in overwhelm with only 1,784 unread posts in it.
A couple of points - some people have suggested that there is something political in the cull of directors or that they were an obstruction to the club being sold. I think all that has happened is that a number of people had been left with very little influence by the more recent pattern of investment and their existing disenfranchisement has simply been formalised.
Secondly, people estimating the club's ticket income continue to overestimate it hugely. About £4m would more accurate, which illustrates the scale of the problem the directors have in funding the business.
the cracks are being papered over but they will reappear in time and will anyone be mad enough to invest in the black hole business that we currently are
[cite]Posted By: Airman Brown[/cite]A couple of points - some people have suggested that there is something political in the cull of directors or that they were an obstruction to the club being sold. I think all that has happened is that a number of people had been left with very little influence by the more recent pattern of investment and their existing disenfranchisement has simply been formalised.
Secondly, people estimating the club's ticket income continue to overestimate it hugely. About £4m would more accurate, which illustrates the scale of the problem the directors have in funding the business.
So basically some people have chosen to keep Charlton going, they risk losing everything, including their new investment, but they have gained control of a club which needs to be sold pretty sharpish. Looks as though our debt of gratitude to them has increased yet again.
Don't forget also joma runs out in the summer so there could be a nice little deal to be had if were back in the championship, few million maybe for a good 3 to 5 year deal with a new kit maker or a fresh deal from joma, waggy won't be doing it as it says he will be focusing on players and transfers just hope we get a good deal.
[cite]Posted By: adamtheaddick[/cite]Don't forget also joma runs out in the summer so there could be a nice little deal to be had if were back in the championship, few million maybe for a good 3 to 5 year deal with a new kit maker or a fresh deal from joma, waggy won't be doing it as it says he will be focusing on players and transfers just hope we get a good deal.
You are not living in the real world if you think a shirt deal is worth a few million even over 5 years.
[cite]Posted By: Rothko[/cite]From the clubs twitter feed:
Returning plc chairman Richard Murray reveals how far the club got in takeover talks and discusses administration in Exeter programme (MW)
Rothko,
Please can you (or somebody else that understands these things) explain in Computing for 5 year old language what Twitter is and how an old duffer can access it if it is worthwhile?
Comments
we are healthier now than we were 10 weeks ago both on and off the pitch, the club can now move forward in a less confusing way and we only have a handfull of people to ratify major decisions instead of a hatfull who could never agree.
so we are still not dining at the table with kings and queens but one day our seat will be saved and we will once again dine on the finest fair of all
The stadium and location are still positives but crowds would increase in the CCC as would TV income and significantly so for our budget.
Buyers would also be looking at a Club on the up rather than on a slide.
I still think that there are a lot of unanswered questions and unresolved issues.
If this is a re-structuring that means we can operate in the CCC on a balanced budget but without huge money to spend and selling a good player every couple of years (think Bowyer and Mills) as in the 90s then I would be content with that as the difference will be made by how well the club and team is managed, again as was the case in the 90s under Curbishley (and Murray/Varney).
Or is this getting all the ducks in line so that we can be sold quickly and easily to any prospective buyer perhaps with liabilities/issues that were deal breakers before now removed.
Or is it just a sticking plaster to allow us to get through this season in the hope of promotion and maybe a takeover to bail us out sometime/never.
Really don't know and my initial relief that extra money had come in is now turning to concern that the future, in the medium term at least, is still not clear or secure.
But I'm still happier that the deal was done rather than not and that the seven put that money in because the alternative of selling players or worse didn't seem very attractive.
That happens to be my view of it Henry.
One positive outcome of the failure of the latest takeover talks is that it provides more time for the Supporters Trust to build some momentum and hopefully voting control over a reasonable number of shares. It's already got pledges of voting proxies for over 500,000 shares and if it could get to 1 million shares relatively quickly that would be a great achievement. Of course, ultimately to be able to control 10% would mean that it could not be bought out if a takeover were to occur.
While we are right to be applaud the new board members for stabilising the finances in the short term, we should not take our eye off the bigger picture that, in all likelihood, the ownership of CAFC will change at some point over the next 12-18 months and an established and credible Supporters Trust potentially has a important role to play in representing our interests. Even without a change of ownership, we're yet to see whether the board re-organisation will be accompanied by a resumption of the open and frank communication from the Club that we were once accustomed to.
Not a moment to waste if you ask me.
Agree with you Henry. Plus RM is back at the helm, that is a positive........ isn't it?
Next meeting of the Supporters' Trust is 14th October.
It is open to anyone to come along especially if you want to get involved as an acting officer, want to be on one of the working groups or just help out.
Do try and get along as the real work starts now.
More details to follow soon
Does that cover buying out some of the directors with smaller shareholdings (ie those who became VPs) or does it just concern money pumped into the club itself?
I think not.
Absolutely. Bromley Addicks would have to find another guest for its meeting otherwise : - )
This is simply a promise by the directors to make up any shortfall inthe finances up to a figure of £7m.
If we have a good Cup run and some more TV games - they may end up paying much less than this, and potentially nothing extra at all (although this is unlikely).
As many have said already, this is just a streamlining of the board so that when the right offer comes in - we will take it swiftly. Even with promotion we will still have a shortfall next year, which nobody has promised to address because it is too early - but we will still need to boost he squad - and who will pay for this?
This news is fine for now, but nothing to get excited about.
FACT
Does anybody still read the Takeover thread......... ?
I'm, in overwhelm with only 1,784 unread posts in it.
Secondly, people estimating the club's ticket income continue to overestimate it hugely. About £4m would more accurate, which illustrates the scale of the problem the directors have in funding the business.
So basically some people have chosen to keep Charlton going, they risk losing everything, including their new investment, but they have gained control of a club which needs to be sold pretty sharpish. Looks as though our debt of gratitude to them has increased yet again.
You are not living in the real world if you think a shirt deal is worth a few million even over 5 years.
Returning plc chairman Richard Murray reveals how far the club got in takeover talks and discusses administration in Exeter programme (MW)
Rothko,
Please can you (or somebody else that understands these things) explain in Computing for 5 year old language what Twitter is and how an old duffer can access it if it is worthwhile?
I read in the standard last night we now have 3 different boards, is this true?
I think that answers the question really.
We had two boards, we now have one.
I'm not sure but I think there were three companies but there is now one group but not seen that confirmed
It is a non-stop feed of snippets of info
see http://twitter.com/cafcofficial
It read like there were now three
Couple of us tweet during games as well, http://twitter.com/sachazarb is me, and All Quite in the East Stand tweet away during game at http://twitter.com/all_quiet
God, that is tenuous but yes I still got it : - )