Telegraph a month or so back: "It is understood that he paid between £14 and £18 million for Charlton two years ago but, with loans totalling £44.1 million according to the last published accounts, any new investor would perhaps now need an initial outlay in excess of £50 million"
So essentially it's going to cost someone £50 million plus to buy Charlton from Duchàtelet - £50 million for a League One club!?!
I assume it's £38m if they just have to clear the amount RD is "owed", but yeah, ain't nobody paying that price !
£38m plus the £7m to Murray/Directors so it's £50m minimum & that's if RD decided to cut his losses & take back everything he's owed, if he's greedy, he'd want more so you could easily go over £50m for a L1 club
So essentially it's going to cost someone £50 million plus to buy Charlton from Duchàtelet - £50 million for a League One club!?!
I assume it's £38m if they just have to clear the amount RD is "owed", but yeah, ain't nobody paying that price !
£38m plus the £7m to Murray/Directors so it's £50m minimum & that's if RD decided to cut his losses & take back everything he's owed, if he's greedy, he'd want more so you could easily go over £50m for a L1 club
I think that £7m has been passed onto successive buyers on the promise if would be repaid when we get back to the Prem (lol) so probably you'd just be talking about the £38m as a minimum.
I guess its inconsequential either way as no ones buying, whether it's £38m or £50m.
I really think these financial results should be read and understood by all, AFC Charlton may be the only solution.
Also - these are just the accounts to June 2015 (I wonder if they include the Gomez fee ?) so there's no telling how much worse it's got over this season.
It also convinces me even more that a season ticket boycott will have no effect, he'll just make up the shortfall with more loans from Staprix.
That's exactly why it will work, it delays him breaking even, Strapix' money is still real money.
Breaking even ? By the sounds of these results he'll never, ever, break even regardless of season ticket money.
Conversely it seems like any gaps in the finances are plugged by additional Staprix "loans" which;
a) make it more likely that he'll struggle to find someone willing to buy the club (assuming he'll want them to clear the amount outstanding to Staprix as part of the purchase price), and;
b) means he's taking more out of the club through his tasty 3% interest charge
This is an absolute mess and I don't really know what the end is. I don't see who would buy us for a minimum of £37m (assuming he isn't going to write off the money he's owed or delay payment of it) and I don't think he'd put us into admin and lose everything so it seems we're just stuck with him.
This really reads like the road to administration.
Given that the businesses that suffer the most in that circumstance will generally be both small and local, should CARD/the wider Charlton fanbase not be advising them to deal with the regime on a cash only basis? Though I accept that there will be costs to suppliers if the regime choose to go elsewhere...
This would a) really piss off the club and b) mean that smaller businesses would be less affected by administration.
It also convinces me even more that a season ticket boycott will have no effect, he'll just make up the shortfall with more loans from Staprix.
That's exactly why it will work, it delays him breaking even, Strapix' money is still real money.
Breaking even ? By the sounds of these results he'll never, ever, break even regardless of season ticket money.
Conversely it seems like any gaps in the finances are plugged by additional Staprix "loans" which;
a) make it more likely that he'll struggle to find someone willing to buy the club (assuming he'll want them to clear the amount outstanding to Staprix as part of the purchase price), and;
b) means he's taking more out of the club through his tasty 3% interest charge
This is an absolute mess and I don't really know what the end is. I don't see who would buy us for a minimum of £37m (assuming he isn't going to write off the money he's owed or delay payment of it) and I don't think he'd put us into admin and lose everything so it seems we're just stuck with him.
This really reads like the road to administration.
Given that the businesses that suffer the most in that circumstance will generally be both small and local, should CARD/the wider Charlton fanbase not be advising them to deal with the regime on a cash only basis? Though I accept that there will be costs to suppliers if the regime choose to go elsewhere...
This would a) really piss off the club and b) mean that smaller businesses would be less affected by administration.
Spot the eejit....
No, I can't see administration as it would probably involve Roland (who is our main creditor I'm guessing) writing off a chunk of his money and he's never going to do that.
It also convinces me even more that a season ticket boycott will have no effect, he'll just make up the shortfall with more loans from Staprix.
That's exactly why it will work, it delays him breaking even, Strapix' money is still real money.
Breaking even ? By the sounds of these results he'll never, ever, break even regardless of season ticket money.
Conversely it seems like any gaps in the finances are plugged by additional Staprix "loans" which;
a) make it more likely that he'll struggle to find someone willing to buy the club (assuming he'll want them to clear the amount outstanding to Staprix as part of the purchase price), and;
b) means he's taking more out of the club through his tasty 3% interest charge
This is an absolute mess and I don't really know what the end is. I don't see who would buy us for a minimum of £37m (assuming he isn't going to write off the money he's owed or delay payment of it) and I don't think he'd put us into admin and lose everything so it seems we're just stuck with him.
This. The long-term business plan for RD at Charlton.
Massimo actively wants to sell I think, he just hasn't had a buyer that is willing to pay as much as he wants. Leeds' operating loss is only £2m, ours is more than double that. How they've achieved that I'm not sure as they don't own their stadium or training ground.
Also - these are just the accounts to June 2015 (I wonder if they include the Gomez fee ?) so there's no telling how much worse it's got over this season.
Also - these are just the accounts to June 2015 (I wonder if they include the Gomez fee ?) so there's no telling how much worse it's got over this season.
They do. It's in the notes.
I haven't actually seen the accounts - how much are they saying we got for Gomez ?
His endgame is becoming more evident. Same as what happened at STVV - just re-read Dreke's posts - he'll run the club down and start to build up other business empire such as Hotel, shops,entertainment etc and sell the club, get rent paid for the ground etc. - he might not be owning us at some point in the future , but he will still have his boot around our throats.
Roland has form for doing this sort of stuff. No one wanting to make Charlton compete in the Championship would be behaving in the way this owner and his cronies are. The football is irrelevant to them. So are we. His plans do not include success for Charlton as a football team. You only have to ask why Lookman got 7 minutes on the pitch in a must win game on Tuesday night. The man is an effing nightmare as an owner of a football club. We have to do everything we can to try and remove his grubby claws from Charlton Athletic.
Turnover down by 8%. Operating loss up by 9%. They can only claim a reduction in losses due to the cheap sale of one of England's finest defensive prospects. These guys don't come along every year so it is not sustainable to assume the same going forward.
Also interesting to note that tickets and matchday activities are 43% of turnover (and not one third).
We all know that the accounts for this year will look significantly worse and for next year significantly worse again.
The accounts should show whether any interest on those loans has been paid to Staprix. If it isn't it lends substance to the suggestion it's quasi equity - although, the exit strategy is still key to what this money really is.
A hotel and entertainment stuff isn't going to work at the Valley. The location is all wrong from a pure business perspective. Accommodation would be of more interest to the Council, but it will need to be affordable to work at Charlton, it would need to focus on the rental market to affect break even and on that basis payback won't arrive any time soon (unless the capital cost would be another loan never serviced - none of this makes any business sense whatsoever). It would also presumably require a change of use approval from the Council, although I have no idea how likely that is to succeed.
Roland's experiment has failed. He bought the wrong club for so many reasons.
Turnover down by 8%. Operating loss up by 9%. They can only claim a reduction in losses due to the cheap sale of one of England's finest defensive prospects. These guys don't come along every year so it is not sustainable to assume the same going forward.
Also interesting to note that tickets and matchday activities are 43% of turnover (and not one third).
We all know that the accounts for this year will look significantly worse and for next year significantly worse again.
Average attendance last year was 16,707 This year we're at 15,552 and imagine that will drop in the remaining games. Assuming a £25 ticket that means ticket revenue is down by £28,875 PER GAME. 23 home games a season means that ticket revenue will be down by £664,125 this season.
Turnover down by 8%. Operating loss up by 9%. They can only claim a reduction in losses due to the cheap sale of one of England's finest defensive prospects. These guys don't come along every year so it is not sustainable to assume the same going forward.
Also interesting to note that tickets and matchday activities are 43% of turnover (and not one third).
We all know that the accounts for this year will look significantly worse and for next year significantly worse again.
Average attendance last year was 16,707 This year we're at 15,552 and imagine that will drop in the remaining games. Assuming a £25 ticket that means ticket revenue is down by £28,875 PER GAME. 23 home games a season means that ticket revenue will be down by £664,125 this season.
They've also been including comps and discounted Uni of Greenwich tickets in that number.
I'd be interested to know what anyone with more financial knowledge than me thinks about the fact that much of the Staprix interest is only in the Baton 2010 (parent company) accounts.
I don't see the point of this unless 1) it's to circumvent FFP rules (although I doubt if it does) or 2) the board thinks people will only look at CAFC Ltd and ignore Baton.
Incidentally, it's worth bearing in mind that this is as of June last year. He'll have accrued at least another £750k of interest since then and the debt figure will be much higher.
Comments
Telegraph a month or so back: "It is understood that he paid between £14 and £18 million for Charlton two years ago but, with loans totalling £44.1 million according to the last published accounts, any new investor would perhaps now need an initial outlay in excess of £50 million"
I guess its inconsequential either way as no ones buying, whether it's £38m or £50m.
I really think these financial results should be read and understood by all, AFC Charlton may be the only solution.
Quasi equity my arse.
BREAKING: #Leeds United reported to have buyer in wings: http://the72.co.uk/49686/mp-opens-leeds-united-second-bidder-debate/ …: @WACCOE @LeedsUnited_MAD @lufcstats @WeAreLeeds1919
Given that the businesses that suffer the most in that circumstance will generally be both small and local, should CARD/the wider Charlton fanbase not be advising them to deal with the regime on a cash only basis? Though I accept that there will be costs to suppliers if the regime choose to go elsewhere...
This would a) really piss off the club and b) mean that smaller businesses would be less affected by administration.
Spot the eejit....
Is it wrong of me to wish a 69 year old man would hurry up and die?
Leeds' operating loss is only £2m, ours is more than double that. How they've achieved that I'm not sure as they don't own their stadium or training ground.
No one wanting to make Charlton compete in the Championship would be behaving in the way this owner and his cronies are. The football is irrelevant to them. So are we.
His plans do not include success for Charlton as a football team. You only have to ask why Lookman got 7 minutes on the pitch in a must win game on Tuesday night.
The man is an effing nightmare as an owner of a football club. We have to do everything we can to try and remove his grubby claws from Charlton Athletic.
Also interesting to note that tickets and matchday activities are 43% of turnover (and not one third).
We all know that the accounts for this year will look significantly worse and for next year significantly worse again.
A hotel and entertainment stuff isn't going to work at the Valley. The location is all wrong from a pure business perspective. Accommodation would be of more interest to the Council, but it will need to be affordable to work at Charlton, it would need to focus on the rental market to affect break even and on that basis payback won't arrive any time soon (unless the capital cost would be another loan never serviced - none of this makes any business sense whatsoever). It would also presumably require a change of use approval from the Council, although I have no idea how likely that is to succeed.
Roland's experiment has failed. He bought the wrong club for so many reasons.
This year we're at 15,552 and imagine that will drop in the remaining games.
Assuming a £25 ticket that means ticket revenue is down by £28,875 PER GAME.
23 home games a season means that ticket revenue will be down by £664,125 this season.
I don't see the point of this unless 1) it's to circumvent FFP rules (although I doubt if it does) or 2) the board thinks people will only look at CAFC Ltd and ignore Baton.
Incidentally, it's worth bearing in mind that this is as of June last year. He'll have accrued at least another £750k of interest since then and the debt figure will be much higher.