So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
I don’t think it says anything about the Aussies, since they don’t own the club. What it says is that there is uncertainty about future ownership per se and that Duchatelet has been unwilling to offer guarantees.
So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
Nothing I would have said as the bank is holding back the money from the current owner, not them.
Also I don't take anything the regime says at face value.
So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
I don't think it says anything about the Aussies, I think it says everything about the current administration though.
The credit card thing is extraordinary. The banks have been demanding a much higher transaction fee for season tickets from Charlton or the value to be underwritten by guarantees since about 2010. That was why a fee was introduced to discourage people from using credit cards, but it never covered the cost. The bank holding back the funds for match by match release is a sign that they have no confidence in the administration of the club.
I was going to ask is it not so (credit card season ticket money being released game-by-game) at other clubs. Reading your post I guess it's indeed just us?
Would be interesting to hear from those with contacts to the old directors to hear if it is their understanding that the bonds are no longer an issue and if so why? @Davidsmith@nth london addick
So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
Nothing I would have said as the bank is holding back the money from the current owner, not them.
Also I don't take anything the regime says at face value.
So Aussie paperwork not even with the EFL yet and then we have the wait to come as well. There is zero chance of promotion.
Not what was said.
According to Airman Brown Chris Parkes is expecting it back this week which is no doubt what Colin/Bexley boy meant by significant news yesterday or today as Colin's source is one of the staff at the training ground who would have got in, directly or indirectly from Chris.
So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
Nothing I would have said as the bank is holding back the money from the current owner, not them.
Also I don't take anything the regime says at face value.
So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
I understand your point @msomerton but it could be that RD has declared he is putting no more money into the club, so the Bank is holding onto ST money, until the sale goes through to offset any further overdraft the club may require, and will release it to the new owners on completion.
at no point in this statement does it appear that any blame for the delay, or even the cuts in breakfast spending, are the fault of Mr Trueck or the regime.
It's the bank holding back the money, it's the Aussies, it's the EFL, never the regime's fault.
So Aussie paperwork not even with the EFL yet and then we have the wait to come as well. There is zero chance of promotion.
Probably mate and very frustrating but let's get rid of the old scrote first and hope that we can manage mid table by the January transfer window and go unbeaten to the end of the season.
Sometimes you have to keep taking backward steps before you go forward this is just another. Keep the faith .
So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
I think you should re-read the statement, and then look at airmans comments.
at no point in this statement does it appear that any blame for the delay, or even the cuts in breakfast spending, are the fault of Mr Trueck or the regime.
It's the bank holding back the money, it's the Aussies, it's the EFL, never the regime's fault.
Not even their fault that money was being wasted on energy, evidently. Must have been Chris Powell.
Nobody in charge then. Just this Eddie Stobart character rolling up from Tuesday's to Thursday's to liaise with the bank over season ticket money, monitor smart meters, and control the key to the cornflakes cupboard.
at no point in this statement does it appear that any blame for the delay, or even the cuts in breakfast spending, are the fault of Mr Trueck or the regime.
It's the bank holding back the money, it's the Aussies, it's the EFL, never the regime's fault.
Not even their fault that money was being wasted on energy, evidently. Must have been Chris Powell.
Just as well Nightmeire never got her wish of Friday night football then
So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
I understand your point @msomerton but it could be that RD has declared he is putting no more money into the club, so the Bank is holding onto ST money, until the sale goes through to offset any further overdraft the club may require, and will release it to the new owners on completion.
It’s unlikely to be anything to do with overdrafts. The bank providing merchant services to the club is liable to credit card purchasers if the club defaults on season tickets (i.e does not play the matches and fails to compensate fans) so what it is saying is that it regards that as an unacceptable risk at this point.
So this Australia consortium are incapable of getting the paper work together to satisfy the EFL, that gives me great confidence. A bank expresses confidence in what is going on by holding back on season ticket money paid by credit card, what does that say about the Aussies.
I understand your point @msomerton but it could be that RD has declared he is putting no more money into the club, so the Bank is holding onto ST money, until the sale goes through to offset any further overdraft the club may require, and will release it to the new owners on completion.
It’s unlikely to be anything to do with overdrafts. The bank providing merchant services to the club is liable to credit card purchasers if the club defaults on season tickets (i.e does not play the matches and fails to compensate fans) so what it is saying is that it regards that as an unacceptable risk at this point.
Does the bank seriously expect the club not to fulfil its fixtures? Is it really that bad?
So a respected banking institution don’t have confidence enough in our finances to release money for financial services rendered to the club and have a genuine concern that CAFC might not be able to fulfill its league obligation.
at no point in this statement does it appear that any blame for the delay, or even the cuts in breakfast spending, are the fault of Mr Trueck or the regime.
It's the bank holding back the money, it's the Aussies, it's the EFL, never the regime's fault.
At the same time, there have been plenty of comments here blaming the delays entirely on Roland, and exonerating the Aussies. All along I've wondered if there were issues on the Aussie side, and the statement confirms this. Trueck might paint a one side picture, but the one thing he won't do is tell factual lies (that can be disproven) in public and on record.
As part of the regulations the Australians need to lodge a series of documents with the EFL before they get formal approval. The documents prove financials, include a director’s test etc. Around one month ago, the first document was lodged with the EFL but not all required documents have yet been submitted to the EFL. There are one or two still outstanding. There has been no need for anything to be resubmitted
So the first document was only submitted to the EFL in June, and the full set still haven't been submitted. So we can't blame the EFL for not approving the takeover, as they haven't received all the documentation yet.
The credit card thing is extraordinary. The banks have been demanding a much higher transaction fee for season tickets from Charlton or the value to be underwritten by guarantees since about 2010. That was why a fee was introduced to discourage people from using credit cards, but it never covered the cost. The bank holding back the funds for match by match release is a sign that they have no confidence in the administration of the club.
I was going to ask is it not so (credit card season ticket money being released game-by-game) at other clubs. Reading your post I guess it's indeed just us?
It's an interesting point. Have they now introduced this for other clubs too? I wouldn't be surprised.
The thing is Jessie that under UK legislation the credit card companies are jointly and severally liable for anything over £100 in the event that goods and services are not provided when a company goes bust. That'll make them ultra cautious.
I recall, for example that when the club offered the last (5-year?) VIP season ticket scheme, that you couldn't even pay by credit card as the credit card companies wouldn't take the risk that the club would still exist in 5 year's time. (As I, too, am risk adverse I didn't apply for one for this reason.)
at no point in this statement does it appear that any blame for the delay, or even the cuts in breakfast spending, are the fault of Mr Trueck or the regime.
It's the bank holding back the money, it's the Aussies, it's the EFL, never the regime's fault.
At the same time, there have been plenty of comments here blaming the delays entirely on Roland, and exonerating the Aussies. All along I've wondered if there were issues on the Aussie side, and the statement confirms this. Trueck might paint a one side picture, but the one thing he won't do is tell factual lies (that can be disproven) in public and on record.
As part of the regulations the Australians need to lodge a series of documents with the EFL before they get formal approval. The documents prove financials, include a director’s test etc. Around one month ago, the first document was lodged with the EFL but not all required documents have yet been submitted to the EFL. There are one or two still outstanding. There has been no need for anything to be resubmitted
So the first document was only submitted to the EFL in June, and the full set still haven't been submitted. So we can't blame the EFL for not approving the takeover, as they haven't received all the documentation yet.
Documents were submitted before the play-off final - Chris Parkes said so to CARD at the time.
Why hasn’t the 2nd interested party just gazumped the Aussies? Price has been agreed so why are they hanging about? Have they been vetted by EFL? Have the Aussies got first dibs?
Why hasn’t the 2nd interested party just gazumped the Aussies? Price has been agreed so why are they hanging about? Have they been vetted by EFL? Have the Aussies got first dibs?
Would be interesting to hear from those with contacts to the old directors to hear if it is their understanding that the bonds are no longer an issue and if so why? @Davidsmith@nth london addick
By the looks of the report, nothing new was said, I don't understand about Directors Loans not being a problem,unless Roland has decided to repay them or Aussies don't now need clear title. Credit Card issue is disturbing as obviously provider has no guarantees, so holding cash on account. Aussies still scrambling for funds/people to put on EFL approval paperwork? Confirmation of other buyer, which we knew,are they waiting for Roland to pay off Loans? Looks like Aussies and other buyers holding off for as long as they can to get their agreed price which probably in both instances has to have clear title to assets, which means Roland has to sort out the £7mn of Loans. None the wiser than we were before the meeting.
Would be interesting to hear from those with contacts to the old directors to hear if it is their understanding that the bonds are no longer an issue and if so why? @Davidsmith@nth london addick
By the looks of the report, nothing new was said, I don't understand about Directors Loans not being a problem,unless Roland has decided to repay them or Aussies don't now need clear title. Credit Card issue is disturbing as obviously provider has no guarantees, so holding cash on account. Aussies still scrambling for funds/people to put on EFL approval paperwork? Confirmation of other buyer, which we knew,are they waiting for Roland to pay off Loans? Looks like Aussies and other buyers holding off for as long as they can to get their agreed price which probably in both instances has to have clear title to assets, which means Roland has to sort out the £7mn of Loans. None the wiser than we were before the meeting.
Except that before the meeting people were able to claim most of it was speculation and now it is the official position of the club.
Comments
Nothing I would have said as the bank is holding back the money from the current owner, not them.
Also I don't take anything the regime says at face value.
According to Airman Brown Chris Parkes is expecting it back this week which is no doubt what Colin/Bexley boy meant by significant news yesterday or today as Colin's source is one of the staff at the training ground who would have got in, directly or indirectly from Chris.
It's the bank holding back the money, it's the Aussies, it's the EFL, never the regime's fault.
Sometimes you have to keep taking backward steps before you go forward this is just another. Keep the faith
Just this Eddie Stobart character rolling up from Tuesday's to Thursday's to liaise with the bank over season ticket money, monitor smart meters, and control the key to the cornflakes cupboard.
That has to be a very big concern.
The thing is Jessie that under UK legislation the credit card companies are jointly and severally liable for anything over £100 in the event that goods and services are not provided when a company goes bust. That'll make them ultra cautious.
I recall, for example that when the club offered the last (5-year?) VIP season ticket scheme, that you couldn't even pay by credit card as the credit card companies wouldn't take the risk that the club would still exist in 5 year's time. (As I, too, am risk adverse I didn't apply for one for this reason.)
Credit Card issue is disturbing as obviously provider has no guarantees, so holding cash on account.
Aussies still scrambling for funds/people to put on EFL approval paperwork?
Confirmation of other buyer, which we knew,are they waiting for Roland to pay off Loans?
Looks like Aussies and other buyers holding off for as long as they can to get their agreed price which probably in both instances has to have clear title to assets, which means Roland has to sort out the £7mn of Loans.
None the wiser than we were before the meeting.