[cite]Posted By: WhenIwasLittleBoy[/cite]Feck me you lot should have been around in the eighties,minutes from going out of business,couldn't to pay players wages,getting beat every week,crowds of 6k, that was bad.
Yes we all feel bad at this moment in time but I thinK we need a reality check here.
Would you really have want to go to Wembley and dare I say it lose to millwall and face that humiliation?
Of course we would want to risk that, its what its all about, victory in the face of adversity
i think we can avoid administration; once we reduce the wage bill to an average league one side size, rather than the average championship side sized one we got at the moment. and we'll probably have to sell any player who attracts a decent offer. that will buy us some time.
one thing's for sure, next season it is going to harder to achieve a promotion or playoff place. next season's team is likely to have to rely more on our youngsters, like Basey, Solly, Waggy and Tuna and even more on loans and freebies.
[cite]Posted By: ross[/cite]The worrying thing is that it's our whole midfield we'll lose. Reid goes back to Sheff Utd, Shelvey has already gone, Bailey Semedo and Racon are our 3 most saleable assets, and Sam is out of contract. That leaves us Spring and Wagstaff.
Spring and Wagstaff are also out of contract!
[cite]Posted By: oohaahmortimer[/cite]charlton first team standard next season will be lower than this seasons ....out of the players named above only shelvey, wright (maybe) and randy(maybe) are decent enough for a promotion push, the rest are not good enough and will be the reason we're swanning around in the lower reaches of football ...
That's the reality, as negative as it sounds. If Tuna, Mambo, Stavrinou etc were good enough, they'd be closer to the first team.
They might make good players in the future, but if we're forced to play too many young players we will struggle.
Of course most of them seem to have the right attitude so have a chance of making it, but throwing 3/4 of them into a League One side as regulars, with some fans expecting instant results, probably isn't going to do them much good.
Who are the club's biggest creditors ? Isn't it the Board ? If HMRC, isn't this first priority in any event ? If so, what is the benefit of going into administration ( unless we still owe other clubs and agents fees for Marcas Bent, Moutakil etc ) ?
If HMRC, isn't this first priority in any event ?. think you are right there..... and it is not a casual arrangement. . those 'tripe hounds 'are like the SAS the first lot in....
[cite]Posted By: lo fi[/cite]Who are the club's biggest creditors ? Isn't it the Board ? If HMRC, isn't this first priority in any event ? If so, what is the benefit of going into administration ( unless we still owe other clubs and agents fees for Marcas Bent, Moutakil etc ) ?
It's illegal for a company to trade if insolvent (though no doubt many football clubs have closetly done so from time to time). Without some upwards momentum (dead after last night), with a declining stock of players with meaningful sale value and if no credible prospect of a buyer, at some point (which may or may not be imminent) the directors are simply going to conclude we're better off cutting our losses rather than continuing to throw good money after bad. At that point they would have no choice but to call in the administrator.
Better sooner rather than later.
Our board ploughed in 7 million last season to get us through. That won`t happen next season and I`m not convinced that whatever cuts are made it will provide enough money for us to be competative as a football team or viable as a business. What happens if that is correct. What exactly are the benefits of "friendly debt" ? Does that make things better or worse ? I would love the club to make a statement but I suspect thats not likely. I expect months of speculation re The Mail story and rumour. I am worried.
[cite]Posted By: AFKABartram[/cite]I think it would be wise to take heed of PMs contributions on this thread, as for me i think they nail a couple of extremely pertinent points.
Very kind of you AFKA but have to emphasise that these are just my personal thoughts. I'm not privy to any current inside info - others may be.
Would it not make more sense to hold on to the players and enter Administration with some saleable assets that can be sold, if need be, at a later time once a CVA has been agreed?
If the board know that they cannot afford to run the club for another season and no buyer is coming in surely we'd be better to have a ten point penalty with a decent squad, rather like Palace did, than a ten point penalty with a team of kids?
[cite]Posted By: kings hill addick[/cite]Would it not make more sense to hold on to the players and enter Administration with some saleable assets that can be sold, if need be, at a later time once a CVA has been agreed?
If the board know that they cannot afford to run the club for another season and no buyer is coming in surely we'd be better to have a ten point penalty with a decent squad, rather like Palace did, than a ten point penalty with a team of kids?
You could be right KHA though, IMHO, we've been looking for a buyer for a while without joy (who knows why none has come through - presumably price).
May take a while for a buyer out of admin to be found and administrator would have to raise cash in the meantime.
Advantage of leaving it to him would be to get on with administration straight away and there is always the chance of a quick sale.
Disadvantage is that the current board may be able to get more for the players than the administrator and, as major creditors, they might rather handle it themselves. Most potential buyers of any financial clout would presumably (hopefully) want a near complete rebuild.
Re the sale of players: Unless I've missed a trick the clubs normally settle on something like 10p in the £. Thus if you sell a player for £1m (I know that's high but makes the maths easier) then you only reduce your cost of leaving Administration by £100k. If the Administrators are forced to sell players they may well get less for them, but right now as we are known to be in the poo I doubt we will be that hard nosed in any negotiation anyway. So if you can manage to fob of the creditors off with 10p in the £ then you come out with a £1m player that the new company can sell, or keep, that has cost you £100k.
I know that probably over simplifies it, but at the end of the day, as distasteful as I have found it from other clubs, I want us to come out of this as strong as possible.
I'm so worried about the finances, I can't bear thinking about it. And yes, I have been through the dark days of the 70s and 80s.
The debt in 1985 that nearly bankrupted us was c £1M, and we had a good squad in division two. Now we are upwards of £35M in debt (although we do now own the ground), and have a soon-to-be-decimated squad in division three, I'm struggling to see a way out.
If only the winner of £84M on the EuroLottery was a Charlton fan...
All joking aside, it is a worrying time, and I think a lot of clubs will be in the same boat as us this coming season.
MOL, interesting statement, if the market place drives down wages it will also drive down player values leaving potential funding for next season short. The Directors have some very big decisions to make for the Club and for themselves. Not looking forward to the ride but feel the eventual outcome will be right for the Club and Directors alike.
I'm so worried about the finances, I can't bear thinking about it. And yes, I have been through the dark days of the 70s and 80s.
The debt in 1985 that nearly bankrupted us was c £1M, and we had a good squad in division two. Now we are upwards of £35M in debt (although we do now own the ground), and have a soon-to-be-decimated squad in division three, I'm struggling to see a way out.
If only the winner of £84M on the EuroLottery was a Charlton fan... Weegie addick
Like others I share your concern Weegie re: the freehold on the ground, not sure that is going to be worth a lot, the area was contaimenated and Greenwich council are not the easiest when it comes to planning permission are they! Looking around the area it is hardly on it's uppers despite the boast of the Olympic legacey...... seen the empty houses lately!. As for the training ground, again doubtful housing planning application would be granted and there are at least two empty sports grounds backing virtually on to Sparrows lane, even if this was forthcoming houses are hardly being built around here that would use the site to it's potential..... so that is a real punt!. So the funds secured against the assets seems optomistic to me!. And as for the squad, with some of the 'hangers on' the few which are worth something probably will pay off what is owed to Moo2 and there like..... Then there is the likes of Palace, and let's face it Fulham who I am sure for the right price would be not too difficult to prize away from Fayed!...... as well as others clubs more than happy to accomadate a non exectutive director for a million or two I am sure...... Brentford perhaps...... My old boss Dyke would be happy to make you very welcome I am sure..... So for your money what has the club got!. No wonder you do not want to think about it Weegie. Perhaps on second thoughts I might join you!.........
We''ll get rid of our big earners, and try to run within our means on crowds of +12k next year, with a slimmed down squad. Trouble is we still have our 'friendly' debt of upwards of 30million. Will our rich directors call in their loans? Will the banks get nervy and pull the plug? From now on we are in a new age of austerity in Div 1 . All the clubs are going to have to live on their income, unless they have a benefactor. I am wondering what Championship clubs will pay out for Bailey, Youga, Semedo etc? Most of them are skint. On the field we will pick up good free transfer players because we are a good club with good crowds and a fine reputation. I hope we can afford to keep our acadamy.
Comments
Of course we would want to risk that, its what its all about, victory in the face of adversity
one thing's for sure, next season it is going to harder to achieve a promotion or playoff place. next season's team is likely to have to rely more on our youngsters, like Basey, Solly, Waggy and Tuna and even more on loans and freebies.
That's the reality, as negative as it sounds. If Tuna, Mambo, Stavrinou etc were good enough, they'd be closer to the first team.
They might make good players in the future, but if we're forced to play too many young players we will struggle.
Of course most of them seem to have the right attitude so have a chance of making it, but throwing 3/4 of them into a League One side as regulars, with some fans expecting instant results, probably isn't going to do them much good.
It's illegal for a company to trade if insolvent (though no doubt many football clubs have closetly done so from time to time). Without some upwards momentum (dead after last night), with a declining stock of players with meaningful sale value and if no credible prospect of a buyer, at some point (which may or may not be imminent) the directors are simply going to conclude we're better off cutting our losses rather than continuing to throw good money after bad. At that point they would have no choice but to call in the administrator.
Better sooner rather than later.
Very kind of you AFKA but have to emphasise that these are just my personal thoughts. I'm not privy to any current inside info - others may be.
If the board know that they cannot afford to run the club for another season and no buyer is coming in surely we'd be better to have a ten point penalty with a decent squad, rather like Palace did, than a ten point penalty with a team of kids?
You could be right KHA though, IMHO, we've been looking for a buyer for a while without joy (who knows why none has come through - presumably price).
May take a while for a buyer out of admin to be found and administrator would have to raise cash in the meantime.
Advantage of leaving it to him would be to get on with administration straight away and there is always the chance of a quick sale.
Disadvantage is that the current board may be able to get more for the players than the administrator and, as major creditors, they might rather handle it themselves. Most potential buyers of any financial clout would presumably (hopefully) want a near complete rebuild.
All joking aside, it is a worrying time, and I think a lot of clubs will be in the same boat as us this coming season.
I know that probably over simplifies it, but at the end of the day, as distasteful as I have found it from other clubs, I want us to come out of this as strong as possible.
The debt in 1985 that nearly bankrupted us was c £1M, and we had a good squad in division two. Now we are upwards of £35M in debt (although we do now own the ground), and have a soon-to-be-decimated squad in division three, I'm struggling to see a way out.
If only the winner of £84M on the EuroLottery was a Charlton fan...
MOL, interesting statement, if the market place drives down wages it will also drive down player values leaving potential funding for next season short. The Directors have some very big decisions to make for the Club and for themselves. Not looking forward to the ride but feel the eventual outcome will be right for the Club and Directors alike.
The debt in 1985 that nearly bankrupted us was c £1M, and we had a good squad in division two. Now we are upwards of £35M in debt (although we do now own the ground), and have a soon-to-be-decimated squad in division three, I'm struggling to see a way out.
If only the winner of £84M on the EuroLottery was a Charlton fan... Weegie addick
Like others I share your concern Weegie re: the freehold on the ground, not sure that is going to be worth a lot, the area was contaimenated and Greenwich council are not the easiest when it comes to planning permission are they! Looking around the area it is hardly on it's uppers despite the boast of the Olympic legacey...... seen the empty houses lately!. As for the training ground, again doubtful housing planning application would be granted and there are at least two empty sports grounds backing virtually on to Sparrows lane, even if this was forthcoming houses are hardly being built around here that would use the site to it's potential..... so that is a real punt!. So the funds secured against the assets seems optomistic to me!. And as for the squad, with some of the 'hangers on' the few which are worth something probably will pay off what is owed to Moo2 and there like.....
Then there is the likes of Palace, and let's face it Fulham who I am sure for the right price would be not too difficult to prize away from Fayed!...... as well as others clubs more than happy to accomadate a non exectutive director for a million or two I am sure...... Brentford perhaps...... My old boss Dyke would be happy to make you very welcome I am sure..... So for your money what has the club got!. No wonder you do not want to think about it Weegie. Perhaps on second thoughts I might join you!.........