If as we understand 7 Ex Directors own charges over all the assets of the Club which includes Valley and Training Ground, then for Duchatalet to be able to do anything in relation to selling or borrowing against those assets he will have to write a cheque for £7mn more and pay off those Directors. Therefore in third division he has only two options sell players to break even or put in £5mn a year more,which in that division and presumably in Championship as Club will then have close to £50mn of debt makes any chance of him getting his cash back impossible.
Also for all those conspiracy theorists until those charges are repaid he can't build flats or sell Valley or Training Ground.
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TEN long term and well paid contracts - Igor and Kashi (the injured), Cellabos (who), Ba (why), Birdshite, Teixeria, Naby (Bambi on Ice) Sa, Relegation Roger, Henderson and Bauer.
Cousins, Lennon, Fox, Holmes - Dennis on decent contracts good luck to them, might well have some value to other clubs.
Our very underused sub, Lookman, who they believe they will get three Million for!
A very welcome goodbye to Makinok (living proof white men cant jump), Rezi (scored in the world cup once) Goodchaaanaanmannann
Leaves us with Solly, Jacko, Pope, Diarra and the academy, which with respect isn't very much!
Financial meltdown is my thoughts.
If these clowns in charge stay in charge League 2 is a near certainty.
Call me an idiot, but I'd have some hope that next season would be more successful than this season - with the odd win here and there. We may not have a team of world beaters, but it's still our team. Plus I just like watching Charlton.
Your post highlights where RD is going to suffer by hitting the balance sheet. That's because player value is an asset shown in the accounts and is the cost less "depreciation". Depreciation is one third each year for a 3 year contract and one quarter for a four year contract. But if the player's actual transfer value is less, then an "impaired" lower value is used.
The effect is a falling balance sheet and a falling value of his original investment.
We also need to understand that the cash he pays to cover the operating loss (not covered by player sales) is not an "investment" it is dead money. An investment is cash that is turned into an asset, like buying a player. So buying rubbish players means he loses his investment as well.
The point is that on any measure RD is failing. His experiment relies on stable finances and despite what it might look like, this was never an outcome his experiment anticipated.
He has been prepared to invest, he just got his strategy wrong, got his infrastructure wrong and his management wrong and do not doubt he is very worried.
We are pursuing exactly the right strategy to force RD out - get to the position where the cost of meeting the losses on the balance sheet and the operating losses makes no business sense. He has no choice, the debts are written off or he puts the company into administration.
As shown time and again, administration can be a price worth paying.
Otherwise spot on
Maybe they agree with the RD housing scheme as it's they only way they will get repaid in their lifetime ?
The charges prevent RD from selling the land with out first paying them their money, so he finds £7m of small change down the back of the sofa, pays them and proceeds to do whatever he likes.
If he sells the land to a developer, then they would probably pay the £7m as a deposit anyway, so the whole transaction would be completed in one go. The ex-directors have a right to their money - but no say in how it is raised etc.
In reality - these charges are no barrier to a land sale at all.
Belgians out.
Just because RD has spent a load of money (or not) it does not increase the worth/value of the club.
But anyway why would Roly give them £7mn , he ain't gonna get Greenwich Council to grant change of useage on stadium, and Training Ground is Green land , and if he could get change of useage by the time he got it ,paid architects,planning etc the debts would be piling up further,just seems a mess.He would be better of selling up now and cutting his losses.
He alone decides what happens, where we play, what colour we wear etc, the rest of the world is just along for the ride.
Changing the training ground is not in his plan (IMO), but don't be so sure about LBG. I'm sure the supporters of Walthamstow Stadium (and now Wimbledon Stadium) thought they were on a sure thing with the backing of the local MP (IDS) and Boris, but they still lost.
Greenwich wants to build 2600 new homes EVERY YEAR until 2028.
RD is not spending millions every year just for fun - he has to have a strategy, and it's not the one he tells us.
But nothing this absentee has done makes sense.
1.7m for agents? I'm used to 10% for agents. So that's 17m of talent we have signed!
How much do u think the combined agents on Gomez, poyet, kermo and morro received from their new clubs?