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** Takeover rumours - ed. Deal 'allegedly' DONE p.66**

henrythecathenrythecat
edited December 2013 in General Charlton
can't see this anywhere else.

from slp...

http://www.southlondon-today.co.uk/Sport.cfm?id=39631&headline=Charlton


Charlton takeover talks are close to an agreement
Wednesday, 20 November 2013

By Toby Porter
CHARLTON are in advanced talks with a multi-million pound British property company over the sale of the Championship club, the South London Press understands.
Sources close to the Addicks have revealed that an investment company is on the verge of completing the deal to take total control of the Championship club.
The purchase figure is unlikely to be revealed during the process.
The South London Press understands that representatives of the buyer visited The Valley and Charlton’s Sparrows Lane training ground this week and have completed their due diligence.
One of the factors that has made the club an attractive proposition is its low level of debt – it owes just £4million to banks, a reduction from the £7m owed when the club was taken over by Michael Slater and Tony Jimenez on December 31, 2010.
Another £7m is owed to former directors such as Richard Murray, but none of this is payable until the club is back in the Premier League.
Another crucial aspect has been the club’s performance in recent seasons. Under Chris Powell, Charlton had the sixth highest budget in League One, but were runaway champions in 2012.
And last season they finished ninth in the Championship despite having only the 17th highest budget in the division.
If the takeover does go ahead, the new owners are likely to give Powell a kitty to bring in loan players during the January transfer window. But they are likely to prefer to invest in player purchases next summer, rather than this winter, after there has been time to properly research Powell’s new targets under an increased budget.
Charlton will have been back at The Valley for 21 years next month. A campaign to return the club to its first permanent home won 15,000 votes in the 1990 local council elections, after Greenwich politicians had rejected planning permission for a revamp. The ground had been deemed unsafe and the Addicks were forced into the first ever Football League groundshare, at Crystal Palace’s Selhurst Park, from 1988.
The club celebrates its centenary at The Valley in 2019.
Slater, who it is believed will remain on the board during a three-month handover period, said: "I am unable to comment on this matter."
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Comments

  • henrythecathenrythecat
    and then there were three....
  • JTJT
    Thanks Michael
  • Stu_of_KunmingStu_of_Kunming
    So our debt has lowered since MS and TJ took over?

    Wow, what a pair of scumbags....
  • razilrazil
    http://forum.charltonlife.com/discussion/49033/takeover#latest


    Think it the debt to the bank for the north stand had to by £1m a year, but others could probably confirm that

    the other debt not mentioned would have grown one assumes
  • Stu_of_KunmingStu_of_Kunming
    Or it doesn't exist?
  • AFKABartramAFKABartram
    British property company / investment company.....


    Really not sure where all this is going....
  • razilrazil
    to the peninsular? :P
  • Henry IrvingHenry Irving
    Stu_of_Kunming said:

    So our debt has lowered since MS and TJ took over?

    Wow, what a pair of scumbags....

    Debt to THE BANK which means they have been paying off the mortgage @ 1m pa as per scheduled.

    Not indication where the 16m losses sit as debt though.

    British hey. Not very glamourous compared to arabs or yanks : - )
  • roseandcrownroseandcrown
    I like the reference about Powell's targets in the summer. Hopefully if it goes through he is first to sign up and the players follow.
  • lolwraylolwray
    the same way as portsmouth ..join the trust
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  • PragueAddickPragueAddick
    Stu_of_Kunming said:

    Or it doesn't exist?

    We are losing 5.5m this season, more last season. That is a fact, so the money has come from somewhere. As Razil says elsewhere, it is probably factored into the asking price, but debt there most certainly is.

  • MrLargoMrLargo
    AFKABartram said:

    British property company / investment company.....


    Really not sure where all this is going....

    Indeed. The term "property company" sets alarm bells ringing for me.
  • AFKABartramAFKABartram
    One thing you can determine from the article is this is not just a speculative piece with the author picking up on a whisper. This has definitely been fed to him (and interestingly once again its the SLP).

    Not sure how the 'Charlton have been back at The Valley 21 years next month' fits into it.
  • itsmyballitsmyball
    ita all about property , always will be im afraid unless we have a secret multi millionaire supporter who does not know we are for sale, who is willing to buy us or is waiting until the price is right.
    I just hope the price is right now
  • BedsaddickBedsaddick
    Here we go again..........
  • BigRedEvilBigRedEvil
    Interesting news, we've needed investment, if this allows us to move forward on and off the pitch then it is positive news imo
  • BubbleBubble
    AFKABartram said:

    One thing you can determine from the article is this is not just a speculative piece with the author picking up on a whisper. This has definitely been fed to him (and interestingly once again its the SLP).

    Not sure how the 'Charlton have been back at The Valley 21 years next month' fits into it.

    The comment about MS staying on for 3 months after completion is testament to it's validity, I can't imagine how anyone not close to the deal would know that
  • roseandcrownroseandcrown
    AFKABartram said:

    One thing you can determine from the article is this is not just a speculative piece with the author picking up on a whisper. This has definitely been fed to him (and interestingly once again its the SLP).

    Not sure how the 'Charlton have been back at The Valley 21 years next month' fits into it.

    did think that as well. Is this some sort of warning re property company?
  • carly burncarly burn
    AFKABartram said:

    British property company / investment company.....


    Really not sure where all this is going....

    Another takeover in 3 or so years that's where.
    There's a reason our holding company is called baton!

  • razilrazil
    the fact that we have a fresh thread for this say buckets (joking)

    wonder if the delay to ACV is something to do with this, surely not
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  • paulie8290paulie8290
    #cafc takeover talks are close to an agreement (reports @porterSLP)
    Just tweeted by Richard Cawley of the South London Press
  • RothkoRothko
    Looks like a controlled leak
  • razilrazil
    The nomination has been progressed, however, it is being held pending the outcome of a report going to the Cabinet on 20th November 2013, which seeks agreement to the process to be adopted by the Council for dealing with applications under the Act.
  • ShootersHillGuruShootersHillGuru
    razil said:

    the fact that we have a fresh thread for this say buckets (joking)

    wonder if the delay to ACV is something to do with this, surely not

    You beat me to your punch line by about three seconds. Never prove it though.

  • MacronateMacronate
    "multi-million"?

    three, 50, loads?
  • queensland_addickqueensland_addick
    edited November 2013
    Why would land comprising the Valley, be more valuable than land a couple of miles up the road at the Peninsular? Then the expense of constructing a new stadium has to be factored in. Would it really make economic sense to move us from the Valley to a new ground just up the road?
  • leftbehindleftbehind
    My old boss is in property and neighbours with Sir M Hatter i wonder LOL
  • J BLOCKJ BLOCK
    Interesting that they've used a paragraph about the Valley in the article.
  • roseandcrownroseandcrown
    queensland_addick said:

    Why would land comprising the Valley, be more valuable than land a couple of miles up the road at the Peninsular? Then the expense of constructing a new stadium has to be factored in. Would it really make economic sense to move us from the Valley to a new ground just up the road?

    I am not 100% sure but I think someone said that the attraction to move would not be the sale of the Valley but the moving to the Peninsular and the scope that has for other property sales.
  • LargeAddickLargeAddick
    AFKABartram said:

    British property company / investment company.....


    Really not sure where all this is going....

    perhaps we should have a debate about that?

    Could this be a reason for Greenwich Council to be dragging their heels over the community asset malarky?

This discussion has been closed.

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