What a load of hot air from Roland. He still doesn't get it, its not operating losses its the asking price. All potential buyers know that we lose money in Division 1. If he had paid off Ex Directors to free up assets,rather than offering them peanuts, then chances are a deal would have been done months ago, when supposedly a price was agreed with clear title. As I posted in November "deal will not happen in Division 1 at price he wants.Unless someone prepared to take a punt on promotion or agreeing X now and Promotion payment later. As far as Directors Loans are concerned ,Roland offered a derisory amount for them and was shown where his bike was parked. Unless he is prepared to pay those Loans in full ,charges will never be released. Thats all I know folks"
Is this still the case David? A few people are saying on Twitter and here, that a price has been agreed, and it's only the Directors' loans that are holding the sale up. They're saying most of the ex Directors (andMurray) have agreed a price, but others haven't. Can any light be shed on this? I'm guessing potential buyers want the loans sorted before purchase?
As the value of the club goes up - which is the case with promotion - the significance of the directors’ loans goes down. I doubt if a position within £4.4m, which is what we’re talking about once you take out Murray, would be sufficient of itself to stop a serious deal happening, not least because the loans don’t have to be settled up front.
1659, The first record of a cheque being written. It was for £400.
I think you need to revisit Wikipedia (it's the date for one of the oldest cheques in existence), cheques, or something that would be recognised as such, were in existence (either as promissory notes or bills of exchange) for several hundreds of years, because specie was both heavy and difficult to transport....
What a load of hot air from Roland. He still doesn't get it, its not operating losses its the asking price. All potential buyers know that we lose money in Division 1. If he had paid off Ex Directors to free up assets,rather than offering them peanuts, then chances are a deal would have been done months ago, when supposedly a price was agreed with clear title. As I posted in November "deal will not happen in Division 1 at price he wants.Unless someone prepared to take a punt on promotion or agreeing X now and Promotion payment later. As far as Directors Loans are concerned ,Roland offered a derisory amount for them and was shown where his bike was parked. Unless he is prepared to pay those Loans in full ,charges will never be released. Thats all I know folks"
Is this still the case David? A few people are saying on Twitter and here, that a price has been agreed, and it's only the Directors' loans that are holding the sale up. They're saying most of the ex Directors (andMurray) have agreed a price, but others haven't. Can any light be shed on this? I'm guessing potential buyers want the loans sorted before purchase?
As the value of the club goes up - which is the case with promotion - the significance of the directors’ loans goes down. I doubt if a position within £4.4m, which is what we’re talking about once you take out Murray, would be sufficient of itself to stop a serious deal happening, not least because the loans don’t have to be settled up front.
Unless someone wants to put a new charge against the assets?
What a load of hot air from Roland. He still doesn't get it, its not operating losses its the asking price. All potential buyers know that we lose money in Division 1. If he had paid off Ex Directors to free up assets,rather than offering them peanuts, then chances are a deal would have been done months ago, when supposedly a price was agreed with clear title. As I posted in November "deal will not happen in Division 1 at price he wants.Unless someone prepared to take a punt on promotion or agreeing X now and Promotion payment later. As far as Directors Loans are concerned ,Roland offered a derisory amount for them and was shown where his bike was parked. Unless he is prepared to pay those Loans in full ,charges will never be released. Thats all I know folks"
Is this still the case David? A few people are saying on Twitter and here, that a price has been agreed, and it's only the Directors' loans that are holding the sale up. They're saying most of the ex Directors (andMurray) have agreed a price, but others haven't. Can any light be shed on this? I'm guessing potential buyers want the loans sorted before purchase?
As the value of the club goes up - which is the case with promotion - the significance of the directors’ loans goes down. I doubt if a position within £4.4m, which is what we’re talking about once you take out Murray, would be sufficient of itself to stop a serious deal happening, not least because the loans don’t have to be settled up front.
Unless someone wants to put a new charge against the assets?
True, but apart from the difficulty of borrowing money against football clubs (including their fixed assets) do we really want an owner who needs to do that? it would also involve paying down an interest-free loan to take out (presumably) an interest-bearing one. The other complication is new leases, but there are ways round that.
What a load of hot air from Roland. He still doesn't get it, its not operating losses its the asking price. All potential buyers know that we lose money in Division 1. If he had paid off Ex Directors to free up assets,rather than offering them peanuts, then chances are a deal would have been done months ago, when supposedly a price was agreed with clear title. As I posted in November "deal will not happen in Division 1 at price he wants.Unless someone prepared to take a punt on promotion or agreeing X now and Promotion payment later. As far as Directors Loans are concerned ,Roland offered a derisory amount for them and was shown where his bike was parked. Unless he is prepared to pay those Loans in full ,charges will never be released. Thats all I know folks"
Is this still the case David? A few people are saying on Twitter and here, that a price has been agreed, and it's only the Directors' loans that are holding the sale up. They're saying most of the ex Directors (andMurray) have agreed a price, but others haven't. Can any light be shed on this? I'm guessing potential buyers want the loans sorted before purchase?
As the value of the club goes up - which is the case with promotion - the significance of the directors’ loans goes down. I doubt if a position within £4.4m, which is what we’re talking about once you take out Murray, would be sufficient of itself to stop a serious deal happening, not least because the loans don’t have to be settled up front.
Unless someone wants to put a new charge against the assets?
True, but apart from the difficulty of borrowing money against football clubs (including their fixed assets) do we really want an owner who needs to do that? it would also involve paying down an interest-free loan to take out (presumably) an interest-bearing one. The other complication is new leases, but there are ways round that.
But that might still hold things up (the issue of new leases)?
What a load of hot air from Roland. He still doesn't get it, its not operating losses its the asking price. All potential buyers know that we lose money in Division 1. If he had paid off Ex Directors to free up assets,rather than offering them peanuts, then chances are a deal would have been done months ago, when supposedly a price was agreed with clear title. As I posted in November "deal will not happen in Division 1 at price he wants.Unless someone prepared to take a punt on promotion or agreeing X now and Promotion payment later. As far as Directors Loans are concerned ,Roland offered a derisory amount for them and was shown where his bike was parked. Unless he is prepared to pay those Loans in full ,charges will never be released. Thats all I know folks"
Is this still the case David? A few people are saying on Twitter and here, that a price has been agreed, and it's only the Directors' loans that are holding the sale up. They're saying most of the ex Directors (andMurray) have agreed a price, but others haven't. Can any light be shed on this? I'm guessing potential buyers want the loans sorted before purchase?
As the value of the club goes up - which is the case with promotion - the significance of the directors’ loans goes down. I doubt if a position within £4.4m, which is what we’re talking about once you take out Murray, would be sufficient of itself to stop a serious deal happening, not least because the loans don’t have to be settled up front.
Unless someone wants to put a new charge against the assets?
True, but apart from the difficulty of borrowing money against football clubs (including their fixed assets) do we really want an owner who needs to do that? it would also involve paying down an interest-free loan to take out (presumably) an interest-bearing one. The other complication is new leases, but there are ways round that.
I am working on the basis that who ever buys the club is neither a "Charlton fan" nor "Man City rich".
If I was investing in a random football club I would want some guarantees that I would get some of my money back if it went the shape of a pear. Also if the buyer has limited cash on the hip it maybe wise, to give Roland a charge over the assets, in a similar way the current one is structured and reduce this from the up front purchase price?
Both of those, pretty reasonable scenarios, are quite likely IMO.
‘Following the win, I was filled with hope as one of the parties interested in buying the club wanted to move forward quickly to complete the purchase of the club. They want to solve the issue of the ex-directors loans first, which I can understand but may take time. In this respect I would like to thank Richard Murray, Sir Maurice Hatter, David White and David Hughes for their cooperation during this process.
The delay is frustrating, because the fact Charlton are now back in the Championship should increase our chances of being sold and now, with the summer transfer window opening, is the right time to acquire a club.’
It’s the loans now causing the holdup. Why must it ‘take time’. You’ve already had two years Roland!
‘Following the win, I was filled with hope as one of the parties interested in buying the club wanted to move forward quickly to complete the purchase of the club. They want to solve the issue of the ex-directors loans first, which I can understand but may take time. In this respect I would like to thank Richard Murray, Sir Maurice Hatter, David White and David Hughes for their cooperation during this process.
The delay is frustrating, because the fact Charlton are now back in the Championship should increase our chances of being sold and now, with the summer transfer window opening, is the right time to acquire a club.’
It’s the loans now causing the holdup.
So it’s still the Aussies then if you had an idea it was the loans causing the hold up?
‘Following the win, I was filled with hope as one of the parties interested in buying the club wanted to move forward quickly to complete the purchase of the club. They want to solve the issue of the ex-directors loans first, which I can understand but may take time. In this respect I would like to thank Richard Murray, Sir Maurice Hatter, David White and David Hughes for their cooperation during this process.
The delay is frustrating, because the fact Charlton are now back in the Championship should increase our chances of being sold and now, with the summer transfer window opening, is the right time to acquire a club.’
‘Following the win, I was filled with hope as one of the parties interested in buying the club wanted to move forward quickly to complete the purchase of the club. They want to solve the issue of the ex-directors loans first, which I can understand but may take time. In this respect I would like to thank Richard Murray, Sir Maurice Hatter, David White and David Hughes for their cooperation during this process.
The delay is frustrating, because the fact Charlton are now back in the Championship should increase our chances of being sold and now, with the summer transfer window opening, is the right time to acquire a club.’
It’s the loans now causing the holdup.
Are the loans really that huge of an issue here? How much are we actually talking about?
re Directors loans - he's dumped a couple of people in it right there hasn't he. We can assume those mentioned, who he thanks, are playing ball from which I assume the others are not. Also confirms recent rumours that ex director loans are holding up a sale **
And which ex directors are not on Roland list? Bob Whitehand maybe? Are the ones on his list the ones who are co-operating, and the ones who aren’t the ones causing the delay?
Not that I am an RD fan, But do I get the impression that we are now coming towards the end game. Even by RD's standards that was a polite update and he has given us more than what was hoped without revealing who they are. Does this now mean that the people wanting to purchase the club with NDA in place now happy for RD to confirm that they are now moving forward with the purchase of the sale and if they can all the Directors agree to their loans then final papers will be submitted to the EFL for approval and the Sale can go through. Why the need to pay off all of the Directors loans? Is it possible they can move forward with 4 of them paid off and 3 still in place.
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If I was investing in a random football club I would want some guarantees that I would get some of my money back if it went the shape of a pear. Also if the buyer has limited cash on the hip it maybe wise, to give Roland a charge over the assets, in a similar way the current one is structured and reduce this from the up front purchase price?
Both of those, pretty reasonable scenarios, are quite likely IMO.
and why bring up the Varney thing?
I’m so confused!
And it was the Ebbsfleet owner that previously tried to buy us?
‘Following the win, I was filled with hope as one of the parties interested in buying the club wanted to move forward quickly to complete the purchase of the club. They want to solve the issue of the ex-directors loans first, which I can understand but may take time. In this respect I would like to thank Richard Murray, Sir Maurice Hatter, David White and David Hughes for their cooperation during this process.
The delay is frustrating, because the fact Charlton are now back in the Championship should increase our chances of being sold and now, with the summer transfer window opening, is the right time to acquire a club.’
It’s the loans now causing the holdup. Why must it ‘take time’. You’ve already had two years Roland!
re Directors loans - he's dumped a couple of people in it right there hasn't he. We can assume those mentioned, who he thanks, are playing ball from which I assume the others are not. Also confirms recent rumours that ex director loans are holding up a sale **
** assuming Roland can be believed.