Yours efforts to keep us informed are much appreciated by many on here, including myself, Mr Seed.
I'm heartened to hear that Team Oz are attempting to get around the impasse. It's just a shame that, ultimately, they will need the agreement of a nutty, bullshitting Shitweasel.....who seems determined not to sell the club!
People not wanting the Aussies, is just ridiculous. If the recent VoTV is anything to go by I can just imagine RD moving the goal posts constantly. I imagine it’s just as frustrating for them as it is for us.
We’re talking millions of pounds, yes in the grand scheme of things 7mil is not a lot in comparison to the sale. However, these people are businessmen, they didn’t get their wealth by spending 7mil willy nilly.
If they’ve stuck around this long , that shows me they have an interest to get the club to the promise land. Surely they’d have given up by now if it wasn’t worth it to them.
Just see see how it pans out with them... everyone thought Roland was the best thing since sliced bread at first.
Yours efforts to keep us informed are much appreciated by many on here, including myself, Mr Seed.
I'm heartened to hear that Team Oz are attempting to get around the impasse. It's just a shame that, ultimately, they will need the agreement of a nutty, bullshitting Shitweasel.....who seems determined not to sell the club!
I think RD is absolutely dying to sell the club, but there's also a large part of him that just can't take loss and this bit is winning at the moment. I think this dilemma is driving the booking bonkers tbh
33 million ! What happened to the 65 million ? For the love of Charlton some one cough up 40 million and buy Cafc lock stock and barrel and pay off Murray and co, so they can just be fans again and we can say Roland who. ASAP.
Thanks Rick for sharing yet another Roland to blame exclusive, who would of thought it? Duchatalet is a prick, despite for too many false dawns it feels like the end game may finally be playing itself out, but with this berk at the helm we cant be certain yet.
Let’s just face it we used up a lifetime of luck with 1998 and 2019 play off wins we dared let a black cat cross our path now we are doomed to dull wankdomness as a football club while palace and the scum laugh as they continually finish above us in the footballing structure It’s what we truly deserve for years of pitiful away support I’ve accepted it , will you
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
how can you assume that? How do you know what their budget will be?
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
how can you assume that? How do you know what their budget will be?
Don't assume anything, and I hope I'm wrong, just have a bad feeling about this consortium but as I said hope I'm wrong and all is good.
Please can we possibly go back to the potted takeover update again with a short summary, to save the millions of working hours the British economy loses when this thread activity goes into hyperdrive? (not for me I might add)
People not wanting the Aussies, is just ridiculous. If the recent VoTV is anything to go by I can just imagine RD moving the goal posts constantly. I imagine it’s just as frustrating for them as it is for us.
We’re talking millions of pounds, yes in the grand scheme of things 7mil is not a lot in comparison to the sale. However, these people are businessmen, they didn’t get their wealth by spending 7mil willy nilly.
If they’ve stuck around this long , that shows me they have an interest to get the club to the promise land. Surely they’d have given up by now if it wasn’t worth it to them.
Just see see how it pans out with them... everyone thought Roland was the best thing since sliced bread at first.
Yup. Why should they get him out of the hole he made by undertaking a weak DD.
He’s screwed up from almost the beginning ... he should take the consequences, not the ex-Directors who did what they did for the love of our club.
I know it's RD's responsibility but what's to stop the Aussies just paying off the ex-directors?
Maybe they don't want to as they are paying nearly double what he did for the club anyway and he agreed he would prior to promotion or maybe........I have no idea as usual it is all a mess.
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
how can you assume that? How do you know what their budget will be?
Don't want the Aussies either tbh, sounds like things wont be any different, certainly doubt our budget will be any bigger, but at least Roland will be gone I suppose, small mercies and all that!
how can you assume that? How do you know what their budget will be?
Don't assume anything, and I hope I'm wrong, just have a bad feeling about this consortium but as I said hope I'm wrong and all is good.
Skepticism is healthy after all this club has been through. Only thing I’ll say is that these people aren’t crooks. Whether they’re any good at running a football club we’ll find out if the buy us. My advice will 100% be to put their trust in Lee Bowyer and his team.
£33m seems almost fair, maybe a bit high but wouldn't include the ex director debts.
For £35m they could clear the problem debts and I'd welcome them if they do that...
for £35m they couldn’t :-(
Well done Jimmy, you were the first person to mention 33 million and of course people doubted you because the price of 65 million had been mentioned. Also 7 million is the loans outstanding, so like a lottery no win, why can't we have a roll over, or a 40 million offer to have a fresh start.
I know it's RD's responsibility but what's to stop the Aussies just paying off the ex-directors?
Nothing and GM has been in contact with them however if cleared in full that's likely to be £7m out of the operating budget.
http://www.votvonline.com/ 'As a consequence, Murphy made contact with the ex-directors named above for the first time at the start of last week and an offer was made to buy the loans out for half their face value, which was rejected. They were then offered 25% in return for the surrender of their charges over the assets, but with the balance on promotion to the Premier League. That would leave the remaining 75% as unsecured debt, with a significant risk that it would be wiped out if the club got into financial difficulties'.
Anyone scratching their head on our current predicament may find this useful.
Currently Charlton has higher debts than the value of the business, as there is more debt on the balance sheet than people are prepared to pay. As a result Charlton is technically insolvent and is only not declared insolvent because RD guarantees to pumps money in each year to stop it doing so. We all understand the consequences of Charlton being declared insolvent in terms of points deductions etc. This is pretty much the same for all football clubs that are taken over outside of the premier league as almost all are run at a loss, even if they meet the obligations of FFP.
In the real world, if you owned a factory in the same situation you'd put the business into administration and sell the business to the new company. All of the creditors at that point would get back less than they were owned. With the taxman and secured creditors first in the queue and unsecured creditors at the back of the line. At that point the new owners would have paid the businesses worth and own the business with a clean slate from that point on.
Alternatively they could buy the business for a £1 (as you see on the news all the time, recently with British Steel) in return for the business keeping some or all of those debts on the balance sheet. The new owners would have paid less cash up front, but they would need to convince the existing creditors to back their business plan and vision in order for them to get paid. Often in this scenario, this deal is the only game in town.
It sounds like RD is putting pressure on the ex Directors to accept less than their due, so that they share the pain of his mismanagement. However they are first in the queue so if the unthinkable happened and we were declared insolvent that would be very likely to get their money back as the value of the assets (Sparrows lane and the Valley) far outweigh the value of their loans. If they do take less than they are owed then they are being very generous in my opinion.
Its unusual to buy a business with contingent liabilities like the loans we have as generally, if you are paying a substantial amount, you want clean title to the assets. RD gets blamed for not doing thorough DD on the way in, though I would suggest what he paid for club was lower than its worth so these loans must have been factored in in the price he paid. They now seem to be a bit of an albatross round his neck as it seems the buyers aren't seeing it the same way as he did on the way in.
The taxman is no longer 1st in the queue. Joins rest of the mortals in the divi up after secure loans have got their money. Banks must not be allowed to lose mone
Anyone scratching their head on our current predicament may find this useful.
Currently Charlton has higher debts than the value of the business, as there is more debt on the balance sheet than people are prepared to pay. As a result Charlton is technically insolvent and is only not declared insolvent because RD guarantees to pumps money in each year to stop it doing so. We all understand the consequences of Charlton being declared insolvent in terms of points deductions etc. This is pretty much the same for all football clubs that are taken over outside of the premier league as almost all are run at a loss, even if they meet the obligations of FFP.
In the real world, if you owned a factory in the same situation you'd put the business into administration and sell the business to the new company. All of the creditors at that point would get back less than they were owned. With the taxman and secured creditors first in the queue and unsecured creditors at the back of the line. At that point the new owners would have paid the businesses worth and own the business with a clean slate from that point on.
Alternatively they could buy the business for a £1 (as you see on the news all the time, recently with British Steel) in return for the business keeping some or all of those debts on the balance sheet. The new owners would have paid less cash up front, but they would need to convince the existing creditors to back their business plan and vision in order for them to get paid. Often in this scenario, this deal is the only game in town.
It sounds like RD is putting pressure on the ex Directors to accept less than their due, so that they share the pain of his mismanagement. However they are first in the queue so if the unthinkable happened and we were declared insolvent that would be very likely to get their money back as the value of the assets (Sparrows lane and the Valley) far outweigh the value of their loans. If they do take less than they are owed then they are being very generous in my opinion.
Its unusual to buy a business with contingent liabilities like the loans we have as generally, if you are paying a substantial amount, you want clean title to the assets. RD gets blamed for not doing thorough DD on the way in, though I would suggest what he paid for club was lower than its worth so these loans must have been factored in in the price he paid. They now seem to be a bit of an albatross round his neck as it seems the buyers aren't seeing it the same way as he did on the way in.
The taxman is no longer 1st in the queue. Joins rest of the mortals in the divi up after secure loans have got their money. Banks must not be allowed to lose mone
For the moment yes, however at Budget 2018, the government announced that it will introduce legislation in Finance Bill 2019 to 2020 to make HM Revenue and Customs ( HMRC ) a secondarypreferential creditor for certain tax debts paid by employees and customers on the insolvency of a business.
Is it not possible for businesses to sign some sort of pre contract for an agreed deal ? How is it possible that RD can change the terms of the deal ? Is buying a business the same as UK property purchase ? The seller can change the price at any time or even no longer sell, prior to exchange of contracts ?
I know it's RD's responsibility but what's to stop the Aussies just paying off the ex-directors?
Nothing and GM has been in contact with them however if cleared in full that's likely to be £7m out of the operating budget.
http://www.votvonline.com/ 'As a consequence, Murphy made contact with the ex-directors named above for the first time at the start of last week and an offer was made to buy the loans out for half their face value, which was rejected. They were then offered 25% in return for the surrender of their charges over the assets, but with the balance on promotion to the Premier League. That would leave the remaining 75% as unsecured debt, with a significant risk that it would be wiped out if the club got into financial difficulties'.
I know it's RD's responsibility but what's to stop the Aussies just paying off the ex-directors?
Nothing and GM has been in contact with them however if cleared in full that's likely to be £7m out of the operating budget.
http://www.votvonline.com/ 'As a consequence, Murphy made contact with the ex-directors named above for the first time at the start of last week and an offer was made to buy the loans out for half their face value, which was rejected. They were then offered 25% in return for the surrender of their charges over the assets, but with the balance on promotion to the Premier League. That would leave the remaining 75% as unsecured debt, with a significant risk that it would be wiped out if the club got into financial difficulties'.
£33m seems almost fair, maybe a bit high but wouldn't include the ex director debts.
For £35m they could clear the problem debts and I'd welcome them if they do that...
for £35m they couldn’t :-(
According to Airman's article isn't it just over £2m that's a problem? Even if we call it £36m so an additional 9ish% that would hopefully be achievable.
Comments
I'm heartened to hear that Team Oz are attempting to get around the impasse. It's just a shame that, ultimately, they will need the agreement of a nutty, bullshitting Shitweasel.....who seems determined not to sell the club!
We’re talking millions of pounds, yes in the grand scheme of things 7mil is not a lot in comparison to the sale. However, these people are businessmen, they didn’t get their wealth by spending 7mil willy nilly.
If they’ve stuck around this long , that shows me they have an interest to get the club to the promise land. Surely they’d have given up by now if it wasn’t worth it to them.
Just see see how it pans out with them... everyone thought Roland was the best thing since sliced bread at first.
What happened to the 65 million ?
For the love of Charlton some one cough up 40 million and buy Cafc lock stock and barrel and pay off Murray and co, so they can just be fans again and we can say Roland who. ASAP.
THANKS
He’s screwed up from almost the beginning ... he should take the consequences, not the ex-Directors who did what they did for the love of our club.
Only thing I’ll say is that these people aren’t crooks. Whether they’re any good at running a football club we’ll find out if the buy us. My advice will 100% be to put their trust in Lee Bowyer and his team.
Also 7 million is the loans outstanding, so like a lottery no win, why can't we have a roll over, or a 40 million offer to have a fresh start.
http://www.votvonline.com/
'As a consequence, Murphy made contact with the ex-directors named above for the first time at the start of last week and an offer was made to buy the loans out for half their face value, which was rejected. They were then offered 25% in return for the surrender of their charges over the assets, but with the balance on promotion to the Premier League. That would leave the remaining 75% as unsecured debt, with a significant risk that it would be wiped out if the club got into financial difficulties'.
How is it possible that RD can change the terms of the deal ?
Is buying a business the same as UK property purchase ?
The seller can change the price at any time or even no longer sell, prior to exchange of contracts ?