I think it shows the continued commitment by the current owners to ensure that when they do sell it will definately be to people with the right mentality and with the future of our club in safe hands.
Could it be that with all the streamlining and the putting together of all (eggs in basket) mean that a sale of the whole thing in one go could be on the cards? and not just a cash investment?
I can see that, at least, we can challenge this year to get out of this division, and thus, upping the value of the club as a whole.
Could it be that with all the streamlining and the putting together of all (eggs in basket) mean that a sale of the whole thing in one go could be on the cards? and not just a cash investment?
..........
I think it keeps all eventualities open, any new single investor will find the structure easier to understand than before and therefore easier for an investor to buy in and if they sell 100% then presumably it'll be easier to untangle the corporate structure than before and make a sale less of long drawn out saga.
I presume that any bids to date simply haven't been enough/have meant that the exiting investors are going to have to write off too much debt so they have invested more cash themselves and are waiting for promotion and/or a bidder with deeper pockets.
[cite]Posted By: bexleyboy[/cite].. can't see us going out splashing money in Jan all it does is may keep the better players we have,, what it does now is makes it a lot easier for interested parties to talk to one man......
Last week Parky said in front of 100 plus witnesses that he has been told that he doesn't need to sell any players this year, bear in mind also that two of our younger players recently signed extensions when they were already under contract, if we were really that cash strapped then the money would have been spent elsewhere.
On the other hand...what's the point in arguing with people who'll believe and repeat any old rumour rather than matters of fact.
[cite]Posted By: bexleyboy[/cite]It was general knowledge that Chappell was a major hurdle when it come to takeover's he dug his hells in..
Was it? Funny you never told us that then. More guess work as usual BB
He was one of the new investors and is a major creditor/owner of the club and is still on the board so no change as far as I can see on that front, what has happened is all the smaller investors have been moved off the board as far as I can make out - so if there was one it is they who were a 'stumbling block' in some way.
I find it interesting that so many directors and associate directors have stood down. Mssrs Stevens, Alwen and Simons invested significant sums in the past and wasn't the minimum investment required to become an associate £64,000? Have they got back their money now? Their stepping down appears to have been a precondition before the other directors invested further. Perhaps the surviving directors will now get a bigger slice of the cake now when they do eventually sell. The former directors may have waived their investment on the understanding the other directors would not invest unless they did so and the club would eventually fold.
[cite]Posted By: Harry Gregory[/cite]I find it interesting that so many directors and associate directors have stood down. Mssrs Stevens, Alwen and Simons invested significant sums in the past and wasn't the minimum investment required to become an associate £64,000? Have they got back their money now? Their stepping down appears to have been a precondition before the other directors invested further. Perhaps the surviving directors will now get a bigger slice of the cake now when they do eventually sell. The former directors may have waived their investment on the understanding the other directors would not invest unless they did so and the club would eventually fold.
I agree this is interesting (how they were persuaded).
Perhaps they have been persuaded to take the loss on their shares, due to the high debt, with those who were also creditors and or willing to make new investment making up the new board, recent offers on takeover may have suggested the shares were pretty much worthless with the club carrying that level of debt. All will become clear when the accounts are published showing who owns what, if not sooner.
[cite]Posted By: nth london addick[/cite]We have direction for the close future no need to worry about anything other than promotion what else can any other addick ask for
onwards and upwards and who knows what the future will hold good times ahead i hope
Disagree. Good that the short term looks more secure but that is only this season.
I think this whole saga still has a few more twists and turns.
Well Murray may be feeling a bit more flush since May because the stock market has risen by 21% in that time, which most people did not expect to happen.
I think the thinking is that CAFC as a Championship club, with a successful, young, largely home-grown squad will be easier to get a return on than in current League1 and recession (albeit this will hopefully be gone soon)
if however we don't get promoted............no I don't wanna go that route. Quite literally it's Shit or Bust time IMO
really glad Murray is in charge though and hopefully as was already said - takeover negotiations when they resume will now be less protracted
Good analysis by AFKA that asks some important questions - not least over the transfer of the training ground etc.
If you go back and read the explanations which were given at the time of the need for that transaction, it is very hard to square ...
Henry is right, I'm sure,when he predicts more twists and turns to come. But like NLA, after this largely satisfactory announcement, I'm just going to concentrate on what's happening on the pitch for the next few months, not what's taking place off it.
[cite]Posted By: nth london addick[/cite]We have direction for the close future no need to worry about anything other than promotion what else can any other addick ask for
onwards and upwards and who knows what the future will hold good times ahead i hope
Disagree. Good that the short term looks more secure but that is only this season.
I think this whole saga still has a few more twists and turns.
You took the words right out of my mouth. I can only see this investment as as short term solution because the underlying problem of debt (albeit friendly) is still there. By the start of next season I wouldn't be suprised to see new owners.
At first this seems like a good bit of housekeeping, reducing the board and making things less 'top heavy' and directly accountable. I think that the majority of fans would welcome RM retaining a key role at Charlton, and the retention of the training ground seems to consolidate the asset's once more.
Not sure that this is an end to it, God willing we go up, and let us not temp fate , but the squad will need a lot more than the 7 million which to me seems like working capital for the next 12 months.......
My concern is the so called friendly debt, people fall out for all sorts of reasons, and sometimes people need to realise there assets, not alway's because they see a quick profit but for all sort's of reasons. People do not seem to be queing up to buy football clubs at present, and although our club's prospects have taken a positive turn of late, and the team seems much better balanced with some good players, and some decent young players ready in the wings, I think this is a holding position at present.
[cite]Posted By: nth london addick[/cite]We have direction for the close future no need to worry about anything other than promotion what else can any other addick ask for
onwards and upwards and who knows what the future will hold good times ahead i hope
Disagree. Good that the short term looks more secure but that is only this season.
I think this whole saga still has a few more twists and turns.
i only care about 1 season at a time henners if i was to worry that far in advance i would be over weight and balding
Businessmen making a business decision to protect their investments in the short term, while making the club more attractive for a potential sale (after promotion).
I make a personal point of getting involved with all the tittle tattle and gossip surrounding the future of the club and the takeover and consequently I am not balding, but am overweight. Could there be a link?
Any lazy students out there want to use us as a subject for a paper? or are they all still in the student union and laying in bed until mid afternoon this side of xmas?
Baring in Mind Mr Varney has been putting in so much 'Unpaid' time on behalf of the club why don't we re-structure Him back into the club, could not see most Charlton fans complaining with that? He is practically working full time for us as it is?
I am hoping to research my Phd on this very subject.....or the meaning of the symbols on the led zep album. Like all fellow 'students of the bar' as we like to call ourselves ..... our research is based on mid afternoon cheap tv progs and our lecture theatre is the local 'pub' . A fully inclusive 'induction' course will be embarked on with specific reference to multi agency and diversity target platforms, both within and embedded in the local and sub strata cultural aspects of relevance with particular emphasis on ' is a jaff'a cake a biscuit or a cake, and at what specific temperature is a 'pie' best served at. At this stage no 'field trips' are planned for cross reference comparisons with 'spanners' 'nigels' or ' gooners' as these are not as yet 'house trained.' The research findings will hopefully lead to a cure for 'bald sad tosser syndrome' and a range of Jamie Oliver healthy eating 'pies' in connection with Kidbrooke school, but no specific data is expected on the serious condition of 'pies sold out at half time syndrome' as this is not within the scope of this remit. Anyone who wishes to assist with research or part of there fellowship, must be qualified to a double first from either Oxbridge in Latin, or advanced car park management, or 2 crisp packet (used) from the Gary Linekar 'range'. Special consideration will be given to ethnic areas such as ' Lewisham', and applications should be marked 'sad wannabee Blackheath type who probably does not have a pot to piss in' Funding of course is easily available.
"Why have senior board members, who publicly made it very clear only a few months ago that the well of the current board was completely dry when resorting to pension funds to support the club, decided to and been able to inject further money into the club ?
Why if the asset sales to key directors announced six months ago really were essential to short-term funding, has it emerged that these deals were not concluded ? If it was essential, surely the requirement of that funding would have been needed by now ?"
These questions which were originally posed by AFKA are the ones that I can't work out. Plus, takeover folk know before they start that they're going to have to cough up serious money, they know about our League position and location, pros and cons etc. The level of debt was also known about this time around, as were the proposed asset sales. So what is that they discover that then deters them?
I would also like to ask you guys that understand these things, what was the power structure before this news and how has it changed?
I'm delighted that our finances are stable for this season, but, for me, it seems like the end of the beginning and nothing more.
[cite]Posted By: stilladdicted[/cite]The level of debt was also known about this time around. So what is that they discover that then deters them?
i reckon the debt was more than first thought once they dug deeper imo
Or perhaps they thought we were skint after getting a closer look at our books & decided to make lower offers to the ones made prior to due diligence ?
Comments
Could it be that with all the streamlining and the putting together of all (eggs in basket) mean that a sale of the whole thing in one go could be on the cards? and not just a cash investment?
I can see that, at least, we can challenge this year to get out of this division, and thus, upping the value of the club as a whole.
..........
I think it keeps all eventualities open, any new single investor will find the structure easier to understand than before and therefore easier for an investor to buy in and if they sell 100% then presumably it'll be easier to untangle the corporate structure than before and make a sale less of long drawn out saga.
I presume that any bids to date simply haven't been enough/have meant that the exiting investors are going to have to write off too much debt so they have invested more cash themselves and are waiting for promotion and/or a bidder with deeper pockets.
Was it? Funny you never told us that then. More guess work as usual BB
Last week Parky said in front of 100 plus witnesses that he has been told that he doesn't need to sell any players this year, bear in mind also that two of our younger players recently signed extensions when they were already under contract, if we were really that cash strapped then the money would have been spent elsewhere.
On the other hand...what's the point in arguing with people who'll believe and repeat any old rumour rather than matters of fact.
He was one of the new investors and is a major creditor/owner of the club and is still on the board so no change as far as I can see on that front, what has happened is all the smaller investors have been moved off the board as far as I can make out - so if there was one it is they who were a 'stumbling block' in some way.
As things stand the Board has hopefully given sufficient financial support for retention of key players and promotion to be gained.
Tomorrow is another day figuratively speaking.
onwards and upwards and who knows what the future will hold good times ahead i hope
I agree this is interesting (how they were persuaded).
Perhaps they have been persuaded to take the loss on their shares, due to the high debt, with those who were also creditors and or willing to make new investment making up the new board, recent offers on takeover may have suggested the shares were pretty much worthless with the club carrying that level of debt. All will become clear when the accounts are published showing who owns what, if not sooner.
Disagree. Good that the short term looks more secure but that is only this season.
I think this whole saga still has a few more twists and turns.
if however we don't get promoted............no I don't wanna go that route. Quite literally it's Shit or Bust time IMO
really glad Murray is in charge though and hopefully as was already said - takeover negotiations when they resume will now be less protracted
If you go back and read the explanations which were given at the time of the need for that transaction, it is very hard to square ...
Henry is right, I'm sure,when he predicts more twists and turns to come. But like NLA, after this largely satisfactory announcement, I'm just going to concentrate on what's happening on the pitch for the next few months, not what's taking place off it.
You took the words right out of my mouth. I can only see this investment as as short term solution because the underlying problem of debt (albeit friendly) is still there. By the start of next season I wouldn't be suprised to see new owners.
I think that the majority of fans would welcome RM retaining a key role at Charlton, and the retention of the training ground seems to consolidate the asset's once more.
Not sure that this is an end to it, God willing we go up, and let us not temp fate , but the squad will need a lot more than the 7 million which to me seems like working capital for the next 12 months.......
My concern is the so called friendly debt, people fall out for all sorts of reasons, and sometimes people need to realise there assets, not alway's because they see a quick profit but for all sort's of reasons.
People do not seem to be queing up to buy football clubs at present, and although our club's prospects have taken a positive turn of late, and the team seems much better balanced with some good players, and some decent young players ready in the wings, I think this is a holding position at present.
i only care about 1 season at a time henners if i was to worry that far in advance i would be over weight and balding
hang on wait a minute
Oh well at least that explains my state........
;-)
Any lazy students out there want to use us as a subject for a paper? or are they all still in the student union and laying in bed until mid afternoon this side of xmas?
Why if the asset sales to key directors announced six months ago really were essential to short-term funding, has it emerged that these deals were not concluded ? If it was essential, surely the requirement of that funding would have been needed by now ?"
These questions which were originally posed by AFKA are the ones that I can't work out. Plus, takeover folk know before they start that they're going to have to cough up serious money, they know about our League position and location, pros and cons etc. The level of debt was also known about this time around, as were the proposed asset sales. So what is that they discover that then deters them?
I would also like to ask you guys that understand these things, what was the power structure before this news and how has it changed?
I'm delighted that our finances are stable for this season, but, for me, it seems like the end of the beginning and nothing more.
i reckon the debt was more than first thought once they dug deeper imo
Or perhaps they thought we were skint after getting a closer look at our books & decided to make lower offers to the ones made prior to due diligence ?