[cite]Posted By: Richard J[/cite]From our old friends Football Rumours . If true I'm happy
13 Dec 2010 22:03:07
Charlton breaking news! !
I work for the broker who is conducting the due diligence in this deal.
Charlton new take over to be completed by Christmas eve, Peter Varney the old Managing Director is fronting the smoke screen for 3 large financially strong city millionaires. Varney will remain in charge. Mr James Macey and James Topping, wish to remain anonymous, similar to the Marcus Evans situation at Ipswich. They have promised a kitty of around 3m to Philip Parkinson and he has until the end of the season for his future.
Both Millionaires are keen to put CAFC back in the prem, then offload the club back for a healthy profit.
Mr Macey has made his money in investments and strangely from a internet wig company.
Many people believe Dennis Wise to be involved, but this is untrue.
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"James Macey and James Topping, wish to remain anonymous" so we are to believe that despite the very clear wishes of the new buyers, this person has seen fit to put their career on the line and reveal their names?
As I said previously , I do not take FR seriously but understand every now and then it will hit the Ballseye . If someone had told me something confidentially it remains that way , FR is not a members only site so this information is 'out there' .Personally if its true ( and I remain unconvinced ) we could get the best possible scenario like Ipswich have with Marcus Evans .
FR is now saying we will sign Fraser Forster and Nathan Ellington from Newcastle and Watford in the window.
[cite]Posted By: Curb_It[/cite]solicitors conduct the due diligence dont they?
"Due diligence" can be conducted by a range of people - lawyers and accountants mainly in most cases, but "experts" can be called in to review and comment on a whole range of things.
For example, if a business owns investment property a property expert may be called in to review the returns that investment is generating, the current value of the assets or the scope for further development, etc. Or if you were buying a pub you might want to call me and my pals in to tell you if it was any good before you splashed the cash - that sort of thing.
Horses for courses really - basically all they are looking for is a massive beartrap or liability. 95% of the time there is something "wrong" or that needs further investigation, but it just depends on whether it's a potential deal breaker or not. It's normally not, but it can for example be a tool/basis for further negotiation on price.
Have worked on loads of them in the past and they're all a bit different because the target businesses are all different and often so is what the buyer actually wants you to review. Nothing sinister in it taking a while to complete - that's just how these things work.
14 Dec 2010 22:26:00 Curbishley to return to Charlton:
I am lead to believe that Alan Curbishley will return to Charlton Athletic in some capacity when a group wealthy foreign investors finally complete their purchase of the club. Middle man Peter Varney has Guaranteed the services of Curbishley and it was a huge selling point to the buyers who are keen to see the south london club competing at the very top level as soon as possible.
Well, at the end of that article is his email address so instead of sitting on my arse and just debating it I have emailed and asked him. I'll let you know his response if I get one.
I am starting to think it might be someone with a bit of real money. If Varney is prepared to be involved as a middle man at least, Dennis Wise is involved (I am led to believe) then the new owners would be shelling out a few quid for their services. If it were wealthy fans with a few quid hoping to stabilise the finances and keep the club solvent for another year or two, then they would not want to be shelling out for the involvement of a big team, but would want to do it all as cheap as possible? Wise taking copious notes at recent games points to possible funds being available in Jan, looks like the new owners want to hit the ground running. Recent Parky comments would suggest he knows his time is either coming to an end or that he will soon be under increased pressure to deliver.
If Steve is correct then not only will PP be under pressure but so will the coaches and players which could be one reason why the team form has dipped in recent weeks.
Heard that due dilligence has sailed through with no problems. Everything was down to the team putting in a performance at Brentford in the JPT last night...........................Doah!!!
Comments
Why?
"James Macey and James Topping, wish to remain anonymous" so we are to believe that despite the very clear wishes of the new buyers, this person has seen fit to put their career on the line and reveal their names?
I call shenanigans.
This should never have been put on here!!!!!
1. Do you get free wigs?
2. Why?
Didn't the very reliable Football Rumours beat us to it? I am sure everyone believes what is published on that site.
{If it's true}
{Which I don't believe it is}
But what can they do about it now that it has been revealed?
FR is now saying we will sign Fraser Forster and Nathan Ellington from Newcastle and Watford in the window.
Bollocks, how would they know 'They have promised a kitty of around 3m to Philip Parkinson and he has until the end of the season for his future.'
"Due diligence" can be conducted by a range of people - lawyers and accountants mainly in most cases, but "experts" can be called in to review and comment on a whole range of things.
For example, if a business owns investment property a property expert may be called in to review the returns that investment is generating, the current value of the assets or the scope for further development, etc. Or if you were buying a pub you might want to call me and my pals in to tell you if it was any good before you splashed the cash - that sort of thing.
Horses for courses really - basically all they are looking for is a massive beartrap or liability. 95% of the time there is something "wrong" or that needs further investigation, but it just depends on whether it's a potential deal breaker or not. It's normally not, but it can for example be a tool/basis for further negotiation on price.
Have worked on loads of them in the past and they're all a bit different because the target businesses are all different and often so is what the buyer actually wants you to review. Nothing sinister in it taking a while to complete - that's just how these things work.
What happens if they want to investigate something further after that date?
14 Dec 2010 22:26:00
Curbishley to return to Charlton:
I am lead to believe that Alan Curbishley will return to Charlton Athletic in some capacity when a group wealthy foreign investors finally complete their purchase of the club.
Middle man Peter Varney has Guaranteed the services of Curbishley and it was a huge selling point to the buyers who are keen to see the south london club competing at the very top level as soon as possible.
Why not?
But do you get free wigs?
Yes and merkins too ;0)
You overheard that conversation to then.
I heard before the weekend.
To clarify - you heard the takeover will be done before this weekend?
Or you heard before last weekend that it will be done sooner than expected?
Neither.Just thought he'd crank the bullsh*t bus up another gear. ;-)