Which would indicate that The Valley is part of the deal and the charges rollover.
Would also indicate buyer is an idiot and is happy to pay £20-£30mn for the Club with no control of it's most valuable assets, as charges are over all assets of the Club. Which also means buyer cannot raise any finance against said assets without permission or enter into any Leases on assets. Worry if new buyer keeps charges outstanding as this is their best bargaining tool with Roland to get price down.
Doesn’t seem to have worried Roland. In fact he was oblivious to it for some time.
I got a call yesterday to say the deal had been done around midday. Thought it was a load of nonsense , but still put it on Twitter. Now I’m thinking , if Jim White is prepared to go out on a limb like he has, maybe it has been done.
Which would indicate that The Valley is part of the deal and the charges rollover.
Would also indicate buyer is an idiot and is happy to pay £20-£30mn for the Club with no control of it's most valuable assets, as charges are over all assets of the Club. Which also means buyer cannot raise any finance against said assets without permission or enter into any Leases on assets. Worry if new buyer keeps charges outstanding as this is their best bargaining tool with Roland to get price down.
Doesn’t seem to have worried Roland. In fact he was oblivious to it for some time.
He was oblivious as it was never explained to him upfront, but when he came to try and sell to multiple parties it was clearly explained to him by various law firms. Thus the low ball bid to try and remove charges himself from Ex Directors around the time Muir was trying to buy, maybe thats why deal failed last year? I repeat anyone negotiating with him now would be mad not to force him to repay, what have they got to lose? It will still be for sale in the summer if he can't agree price now. None of us know , next week will come and all will be revealed.
Reports of 20-30 million for the sale are worrying.
What are the odds that we are not totally rid of Dushitelet if these figures are true? He was meant to be wanting 50 million, the gap is too big, a bit like my hairline.
Maybe he has finally realised 50m is completely unrealistic?
Or is retaining The Valley and / or training ground.
Been said many times that he cannot do that without the agreement of the ex-directors (who have first call on the Valley) or he pays them off. Also the £50m was pure speculation. Most realistic estimates have been in the £30m-£35m ballpark (still too much). Suspect he may have come down a bit or the deal is being structured so that a base sum is paid and the balance dependent on promotion and/or additional money received by the club on the sell-on of certain players, e.g. Gudmundson, Lookman, Gomez and Pope.
My guess is that he has taken a haircut on the 'speculated' earlier figure of £50m to stem the flow of money out each month. If he has sold now for £30m he could have sold for the same amount a year ago and be the equivalent of around £40m better off.
I said similar yesterday about the "haircut" and Airman gave me a LOL.
perhaps the owners have enough moneybthat theywont need to borrow against assets. if they are buying with a plan to borrow more money, I would find that more worrying
Which would indicate that The Valley is part of the deal and the charges rollover.
Would also indicate buyer is an idiot and is happy to pay £20-£30mn for the Club with no control of it's most valuable assets, as charges are over all assets of the Club. Which also means buyer cannot raise any finance against said assets without permission or enter into any Leases on assets. Worry if new buyer keeps charges outstanding as this is their best bargaining tool with Roland to get price down.
Doesn’t seem to have worried Roland. In fact he was oblivious to it for some time.
He was oblivious as it was never explained to him upfront, but when he came to try and sell to multiple parties it was clearly explained to him by various law firms. Thus the low ball bid to try and remove charges himself from Ex Directors around the time Muir was trying to buy, maybe thats why deal failed last year? I repeat anyone negotiating with him now would be mad not to force him to repay, what have they got to lose? It will still be for sale in the summer if he can't agree price now. None of us know , next week will come and all will be revealed.
As you know, the timing of the offer and the deal stalling didn’t coincide. I think you’ll find the charges will be paid off and that RD is getting enough money to do that, but we’ll see.
Got a day looking after my (nearly) 2 year old boy on Wednesday. Will take him for his first Valley trip to pick up his first shirt if it all goes through.
Which would indicate that The Valley is part of the deal and the charges rollover.
Would also indicate buyer is an idiot and is happy to pay £20-£30mn for the Club with no control of it's most valuable assets, as charges are over all assets of the Club. Which also means buyer cannot raise any finance against said assets without permission or enter into any Leases on assets. Worry if new buyer keeps charges outstanding as this is their best bargaining tool with Roland to get price down.
Doesn’t seem to have worried Roland. In fact he was oblivious to it for some time.
He was oblivious as it was never explained to him upfront, but when he came to try and sell to multiple parties it was clearly explained to him by various law firms. Thus the low ball bid to try and remove charges himself from Ex Directors around the time Muir was trying to buy, maybe thats why deal failed last year? I repeat anyone negotiating with him now would be mad not to force him to repay, what have they got to lose? It will still be for sale in the summer if he can't agree price now. None of us know , next week will come and all will be revealed.
As you know, the timing of the offer and the deal stalling didn’t coincide. I think you’ll find the charges will be paid off and that RD is getting enough money to do that, but we’ll see.
Correct it didn't coincide,but I understand that was because some Directors agreed to take discounts on their Loans and Roland assumed they would all cave in, in the face of a deal. Then realised it was going to cost him £2 to 3mn more to get deal done and it failed surprisingly. Why now do you think he will pay off charges,has he finally bitten the bullet on losses?
Which would indicate that The Valley is part of the deal and the charges rollover.
Would also indicate buyer is an idiot and is happy to pay £20-£30mn for the Club with no control of it's most valuable assets, as charges are over all assets of the Club. Which also means buyer cannot raise any finance against said assets without permission or enter into any Leases on assets. Worry if new buyer keeps charges outstanding as this is their best bargaining tool with Roland to get price down.
Or they have no need to raise finance against the assets.
But with a desperate seller like Roland wouldn't you make him pay off those Loans as part of the deal, even if you are a Billionaire you want clean title to the thing you are purchasing. At least two other buyers wanted clean title,that's why Roland presented a low ball bid to Ex Directors and got told to go forth, in fact one was probably the Aussies.
Why do you think of him as desperate to sell? He wants to sell, certainly but he is not desperate, is he? Not like Jimenez and Slater were desperate.
Which would indicate that The Valley is part of the deal and the charges rollover.
Would also indicate buyer is an idiot and is happy to pay £20-£30mn for the Club with no control of it's most valuable assets, as charges are over all assets of the Club. Which also means buyer cannot raise any finance against said assets without permission or enter into any Leases on assets. Worry if new buyer keeps charges outstanding as this is their best bargaining tool with Roland to get price down.
Maybe they don't need to raise finance against the assets, and are happy to let the non-interest bearing loans sit there knowing that should they get to the promised land the first £7m of the £100m+ Prem dividend is used to clear the charges.
We also don't have details of exactly how much they might have paid, and this could have been negotiated down to reflect the outstanding loans.
Which is what I said months & months ago. The ex-director loans are a drop in the ocean if/when we get to the Pram They are only paid back then. No interest due either. Could be in 3 years.....could be in 30 years.
If any owner need a to start taking loans secured on the club/ground then they are not the owner you want.
January 04, 2019 Talksport is reporting that Charlton Athletic will be sold by Monday or Tuesday of next week. The Australian consortium has passed the fit and proper person test.
Comments
After all, if we can't trust Muzza who can we trust?
Thus the low ball bid to try and remove charges himself from Ex Directors around the time Muir was trying to buy, maybe thats why deal failed last year?
I repeat anyone negotiating with him now would be mad not to force him to repay, what have they got to lose?
It will still be for sale in the summer if he can't agree price now.
None of us know , next week will come and all will be revealed.
Going out to eat at Belgo tonight in anticipation.
WiOTOS
Then realised it was going to cost him £2 to 3mn more to get deal done and it failed surprisingly.
Why now do you think he will pay off charges,has he finally bitten the bullet on losses?
They are only paid back then. No interest due either. Could be in 3 years.....could be in 30 years.
If any owner need a to start taking loans secured on the club/ground then they are not the owner you want.
It's not been the same since Ibborg got the bullet.
Sad times on Charlton life.
Will be my first home game of the season.
One last push