If Roland thought that he could buy off the £7m loans at a discount last summer, surely that discount will have lessened now we are one division closer to them becoming due. That could be his reason for bumping the price up to the Aussies.
Who cares how much it’ll cost to buy us? We just need it done ASAP.
Surprisingly, the buyers and the seller.
I don’t believe there are any buyers or sellers on here.
Maybe the people that come on here want to find out what is or might be happening; might want to share their understanding or prediction are to the outcome; or are genuinely curious as to what the effect of a significant investment in Charlton would be on the playing strength of the squad, future plans, catering, ticket pricing and ambitions of the club.
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
It is suggested that new owners who might want to raise finance on the assets might not be able to without clean title.
If the assets are worth £33m, the loans £7m then new owners can still borrow up to £26m, and I believe the book value of the Valley & Sparrows Lane is over £40m.
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
Some people are suggesting that the title of the properties, clear of the directors' loans, remains to be settled before a deal can go through.
The last two disastrous owners didn't see the ex-directors bonds as an issue.
But because the new owners MIGHT that has to mean they, the new owners, are dodgy!
If I was paying £33m for something I'd want to own it all and have clear title. I really don't see why any rational, non- spiv owners wouldn't.
Yes, they MIGHT want to take out a loan.
For example, to spend the remaining £10m on the training ground they might take out a mortgage/loan at the current very low interest rates rather than trying up capital. Charlton did similar when building the north stand.
But at present any of the ex-directors could block that. I doubt they would, but a buyer would rather be safe than sorry.
Isn't all the problems the loans are causing Duchatelet (totally his fault, no blame on the ex-directors) just proof of why clean title is preferable?
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
It is suggested that new owners who might want to raise finance on the assets might not be able to without clean title.
The land is worth about £23m. I’m not an expert but I would have thought anyone incoming will have trouble borrowing anywhere near that against it.
What removing the ex-directors’ loans would allow, however, is Roland to secure debt that he leaves on the books as a first charge against the assets, while selling the club and the land.
Don’t forget that LDT has said that one of the “agreed” deals includes a further payment to RD on promotion to the Premier League. In that scenario it’s very likely he would look to secure that debt - the fact the fixed assets wouldn’t necessarily cover it doesn’t mean this can’t be done. The valuation would, however, prevent a new loan that exceeded the value of the assets.
It’s just a theory but no one is borrowing huge sums against the assets because any lender would establish what they are worth.
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
It is suggested that new owners who might want to raise finance on the assets might not be able to without clean title.
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
It is suggested that new owners who might want to raise finance on the assets might not be able to without clean title.
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
It is suggested that new owners who might want to raise finance on the assets might not be able to without clean title.
Doesn’t make sense.
Does to me. Debt isn't as secured without clean title.
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
It is suggested that new owners who might want to raise finance on the assets might not be able to without clean title.
Doesn’t make sense.
In simple terms, as I understand it, it would be difficult to get a second loan against property that already has a charge (the ex-directors bonds) against it as the lender would be second in line to collect if it all went wrong.
@Grapevine49 can explain it better than me, I'm sure
Who cares how much it’ll cost to buy us? We just need it done ASAP.
Surprisingly, the buyers and the seller.
I don’t believe there are any buyers or sellers on here.
Maybe the people that come on here want to find out what is or might be happening; might want to share their understanding or prediction are to the outcome; or are genuinely curious as to what the effect of a significant investment in Charlton would be on the playing strength of the squad, future plans, catering, ticket pricing and ambitions of the club.
Why do you post on here?
Exactly that.
I get bored with the usual 50 post bursts of how much it is going to cost especially when most are second guessing. I’m really not bothered if it’s £26m, £33m or £40m+. It really isn’t important.
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
It is suggested that new owners who might want to raise finance on the assets might not be able to without clean title.
Doesn’t make sense.
In simple terms, as I understand it, it would be difficult to get a second loan against property that already has a charge (the ex-directors bonds) against it as the lender would be second in line to collect if it all went wrong.
@Grapevine49 can explain it better than me, I'm sure
And more importantly the value isn’t there to support such a loan in the first place.
I don't get people dismissing the £7m. Its a real issue for whoever is buying as I doubt they are buying the club just to sit in the Championship, so this will become payable in their eyes in their plan. Just because you get mega money in the EPL, £7m is still a significant sum. Its probably one less player in the squad for a season.
Clear title could also mean that the new owners are mega rich and want to use the assets as a vehicle to circumnavigate FFP in the championship? See Derby and Sheffield Wednesday.
Although if that ever happened the bed wetters would be out in full force.
I have a deep aversion to fish puns so only skim this thread occasionally. I may have missed something so please ignore this post if I am raising an issue that has already been dealt with.
Fact: we have some director loans totalling £7 million. These loans have been raised against the ground and training ground.
Fact: these loans only become payable on promotion to the Premier League.
Fact: on promotion to the Premiership Charlton will immediately receive approximately £100 million and guaranteed £90 million for the following three years in parachute payments if we are relegated after one season.
Is it still being claimed that the £7 million in loans is holding up a sale?
It is suggested that new owners who might want to raise finance on the assets might not be able to without clean title.
Doesn’t make sense.
It does.
It doesn’t. First thing to remember is this is not a normal debt. It may never be paid. It is also interest free so it may not be financially prudent to repay it. Also, we are living in the 21st century. A world of incredibly complex financial and insurance instruments. If I was buying the club and my plan involved borrowing against the assets and I wanted to borrow the full value of the assets I Find it difficult to believe I could not easily and with not too much additional cost go to the debt market and get that loan with a tailored financial instrument that guaranteeid immediate repayment of the director loans on promotion to the Premier league.
Clear title could also mean that the new owners are mega rich and want to use the assets as a vehicle to circumnavigate FFP in the championship? See Derby and Sheffield Wednesday.
Although if that ever happened the bet wetters would be out in full force.
Which area is preferred for our new ground; Greenwich peninsula or somewhere in Kent or ground sharing with Millwall...that would be nice.
Clear title could also mean that the new owners are mega rich and want to use the assets as a vehicle to circumnavigate FFP in the championship? See Derby and Sheffield Wednesday.
Although if that ever happened the bet wetters would be out in full force.
Which area is preferred for our new ground; Greenwich peninsula or somewhere in Kent or ground sharing with Millwall...that would be nice.
Clear title could also mean that the new owners are mega rich and want to use the assets as a vehicle to circumnavigate FFP in the championship? See Derby and Sheffield Wednesday.
Although if that ever happened the bet wetters would be out in full force.
Which area is preferred for our new ground; Greenwich peninsula or somewhere in Kent or ground sharing with Millwall...that would be nice.
Who mentioned a new ground?
No one, but it’s a good hook for more posts on the thread of the century!
Comments
A seat for every comment, we have now filled Anfield.
The Etihad is next (55,097) probably done by the weekend!
Why do you post on here?
But because the new owners MIGHT that has to mean they, the new owners, are dodgy!
If I was paying £33m for something I'd want to own it all and have clear title. I really don't see why any rational, non- spiv owners wouldn't.
Yes, they MIGHT want to take out a loan.
For example, to spend the remaining £10m on the training ground they might take out a mortgage/loan at the current very low interest rates rather than trying up capital. Charlton did similar when building the north stand.
But at present any of the ex-directors could block that. I doubt they would, but a buyer would rather be safe than sorry.
Isn't all the problems the loans are causing Duchatelet (totally his fault, no blame on the ex-directors) just proof of why clean title is preferable?
What removing the ex-directors’ loans would allow, however, is Roland to secure debt that he leaves on the books as a first charge against the assets, while selling the club and the land.
Don’t forget that LDT has said that one of the “agreed” deals includes a further payment to RD on promotion to the Premier League. In that scenario it’s very likely he would look to secure that debt - the fact the fixed assets wouldn’t necessarily cover it doesn’t mean this can’t be done. The valuation would, however, prevent a new loan that exceeded the value of the assets.
It’s just a theory but no one is borrowing huge sums against the assets because any lender would establish what they are worth.
@Grapevine49 can explain it better than me, I'm sure
I get bored with the usual 50 post bursts of how much it is going to cost especially when most are second guessing. I’m really not bothered if it’s £26m, £33m or £40m+. It really isn’t important.
Just my opinion of course.
Although if that ever happened the bed wetters would be out in full force.