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Takeover

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  • cafc1263
    cafc1263 Posts: 191
    Covered End said:

    dickplumb said:

    According to another forum we are in due diligence at the moment.

    I believe so, but it appears to be quite a common occurence.
  • cafc1263
    cafc1263 Posts: 191
    cafc1263 said:

    Covered End said:

    dickplumb said:

    According to another forum we are in due diligence at the moment.

    What forum is that then
  • cafc1263
    cafc1263 Posts: 191
    What forum is that then
  • soapy_jones
    soapy_jones Posts: 21,353
    edited November 2013
    http://intothevalley.proboards.com/thread/12540/new-money?page=17

    or Reams_creams.com
  • Covered End
    Covered End Posts: 52,006
    I've been told from a different source, but it's probably into the valley.
  • cafc1263
    cafc1263 Posts: 191
    Watch out for the Germans

  • SELR_addicks
    SELR_addicks Posts: 15,446
    Would be entertaining if the only takeover rumour that didn't get 30+ pages was in fact the real takeover.

    Not holding my breath though...
  • LoOkOuT
    LoOkOuT Posts: 10,856
    We're always in due diligence.
  • Danny Addick
    Danny Addick Posts: 3,930
    ShootersHillGuru said:

    dickplumb said:

    According to another forum we are in due diligence at the moment.


    That's a rumour that's been doing the rounds for some weeks now.
    That's a rumour that's been doing the rounds for some now.
  • seriously_red
    seriously_red Posts: 5,741
    soapy_jones said:

    Whilst readily admitting to be a bit thick about such things, this due diligence malarky, how the hell are we meant to pass it when we have not (allegedly) for the last three or four efforts? Russkis, Arabs and Martians appear to have scrutinised the books before moving on to other basket cases. What makes anyone think the figures will add up this time?

    Perhaps some potential buyers in the past have been wasting everyones time as they don't have the wealth to satisfy the creditors that they arent Goldberg / Jordan in disguise! There is a reason that Richard Murray is the gurantor on the bank account/overdraft and that is because he holds UK assets with value far in excess of the limit.
    Take him out of the equation and you either need to pay people back or convince them you are good for the money.
    I really doubt there is anything wrong on the Charlton side because the paperwork for DD must be pretty minimal - title to the Valley, player contracts and proof that the accounts and forecasts stack up.
    As posted by others it is all about buyer and seller agreeing a price...sooner the better as far as I'm concerned so we can sign up the management team and best players and look forwards to 2014/15 season

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  • Kap10
    Kap10 Posts: 15,567
    ShootersHillGuru said:

    soapy_jones said:

    Whilst readily admitting to be a bit thick about such things, this due diligence malarky, how the hell are we meant to pass it when we have not (allegedly) for the last three or four efforts? Russkis, Arabs and Martians appear to have scrutinised the books before moving on to other basket cases. What makes anyone think the figures will add up this time?

    Reducing the asking price changes the figures considerably.

    Could be that we are being open about what the previoud bidders have found. And adjusted the price accordingly
  • queensland_addick
    queensland_addick Posts: 7,547
    ShootersHillGuru said:

    soapy_jones said:

    Whilst readily admitting to be a bit thick about such things, this due diligence malarky, how the hell are we meant to pass it when we have not (allegedly) for the last three or four efforts? Russkis, Arabs and Martians appear to have scrutinised the books before moving on to other basket cases. What makes anyone think the figures will add up this time?

    Reducing the asking price changes the figures considerably.

    I doubt whether a discrepancy of a few million here or there is of much consequence to someone with an estimated fortune of 28 billion. Chelsea were in a dire financial position when Abramovic moved in for them. People with that kind of wealth are more interested in future potential. I really hope there is something in this given our previous links with Scandinavia. I think it could be a marriage made in heaven, but I'm not holding my breath.
  • seth plum
    seth plum Posts: 53,448
    They are going to do a great big IKEA where the Charlton Sainsbury's is I read somewhere.
    AND
    Sven Goran Erikson is Swedish and gave Chris Powell a cap in his first England squad.
    See? It's all coming together, I also heard we will run out to Abbas Money Money Money.
  • Swisdom
    Swisdom Posts: 14,977
    Maybe Jiminez' recent court defeat means he is now more realistic / desperate to sell.

    Either way - this is one of the only takeover rumours that has really got me excited. I love all things scandinavian and would like to think they are ethical in their business and would want the best for us. Maybe I am naive but I can't see them coming in and being inept
  • Dizzle
    Dizzle Posts: 5,190
    I want to get excited about a takeover by a billionaire but I just cant. It never works out. Not for Charlton :(
  • ShootersHillGuru
    ShootersHillGuru Posts: 50,619
    edited November 2013
    I think the Steffan Persson rumours are a load of old cobblers. I think the DD thing is also a bit a red herring because I think that we have been in DD many times before. I'm sure that eventually we will be sold because the current owners just don't have the money needed to fund the losses. When and to whom is anyone's guess. I doubt it's any time very soon.
  • stilladdicted
    stilladdicted Posts: 4,307
    Time for undue diligence, that might be more successful?
  • CafcWest
    CafcWest Posts: 6,167
    They eat lots of red herring in Sweden.
  • kentaddick
    kentaddick Posts: 18,729
    Dizzle said:

    I want to get excited about a takeover by a billionaire but I just cant. It never works out. Not for Charlton :(

    count your lucky stars we weren't taken over by Zabeel, we would've turned into another Portsmouth.

  • golfaddick
    golfaddick Posts: 33,628
    It would help if we had an insider who could gives us a "heads up" on whats going on............but they've all been sacked !!
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  • Granpa
    Granpa Posts: 2,995
    Should we contact Missing Persson's ?
  • Mendonca In Asdas
    Mendonca In Asdas Posts: 22,650
    Seeing how Southampton are flying at the moment , must give potential investors food for thought (Minus the dumping Chrissy Powell please Santa!).
  • Loco
    Loco Posts: 1,037
    seth plum said:

    They are going to do a great big IKEA where the Charlton Sainsbury's is I read somewhere.
    AND
    Sven Goran Erikson is Swedish and gave Chris Powell a cap in his first England squad.
    See? It's all coming together, I also heard we will run out to Abbas Money Money Money.

    Charlton have a new pom pom girl
  • bigstemarra
    bigstemarra Posts: 5,098
    However much I know that the only possible outcome is that the current owners sell the club, I still can't bring myself to believe any of the rumours going around...much as I would love there to be some truth in them, because until we get new people at the top, we will be treading water at best. On top of that, there doesn't seem to much smoke to indicate that this particular fire has been ignited!
  • Molob
    Molob Posts: 66
    Due diligence is a complex process and I imagine there would be hundreds of files. But as accountants proceed if they find cause for concern that something being represented is not as it seems they look harder. As we all know some of the reps in the document airman came across contained points which won't take long to work out they are wrong, then added to that Jimenez is described in court as unreliable or that his evidence should be treated with real caution and you have your reason why dd is very complex and selling the club very hard
  • ShootersHillGuru
    ShootersHillGuru Posts: 50,619
    Molob said:

    Due diligence is a complex process and I imagine there would be hundreds of files. But as accountants proceed if they find cause for concern that something being represented is not as it seems they look harder. As we all know some of the reps in the document airman came across contained points which won't take long to work out they are wrong, then added to that Jimenez is described in court as unreliable or that his evidence should be treated with real caution and you have your reason why dd is very complex and selling the club very hard

    But is it any closer ?

  • maybe_baby
    maybe_baby Posts: 2,609
    ShootersHillGuru said:

    I think the Steffan Persson rumours are a load of old cobblers.


    Correct.
  • Stig
    Stig Posts: 29,024
    If it sounds too good to be true, it probably is.
  • queensland_addick
    queensland_addick Posts: 7,547
    If I were 66, worth 28 billion and loved my sport, I'd definitely look into buying a football club to add to my super yacht and garage full of luxury cars. A fortune of that magnitude should be increasing by at least 10% (2.8 billion) each year. Losing the odd 100 million would not be an issue. If you're listening Mr Perrson, sir !
  • AFKABartram
    AFKABartram Posts: 57,825
    bigstemarra said:

    However much I know that the only possible outcome is that the current owners sell the club, I still can't bring myself to believe any of the rumours going around...

    Rumours we are in DD again began circulating 2-3 weeks ago Stem. I believe that to be true, but knowing the amount of times this happened previously you begin to take it with a pinch of salt.

    I've personally heard nothing to suggest who is behind it though.
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