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The Takeover Thread - Duchatelet Finally Sells (Jan 2020)

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  • Not sure why you needed to repost that again @PragueAddickbut I don't think you can pick and choose quotes from Roland to suit arguments. Its been proven he's bonkers and many feel tells lies, half truths and twists on situations, so i wouldn't equally accept a quote that suits your agenda as being factually correct.

    Equally, your view is influenced by what you are told by the Standard Socios, who will naturally not downplay their involvement.

    When Roland eventually does sell the club on, those who have been active in protesting in Belgium will say it is down to their actions, those active in protesting in the UK will say its down to them. Jim White will say it was the pressure he put on Roland, Dreisen will say it was on his recomendation etc...We've been protesting in the UK for 4 years and in Belgium for 3 1/2 years. As further time goes on while there is no sale, no slashing of demands (let alone desperation to exit), the less and less credibility any of those claims will hold.

    Of course they add to the backdrop and create publicity and difficulty to him, but my key point is that absolutely none of that publicity or difficulty has led to him attempting to escalate his exit in any way over the last couple of years (even less so if the rumours of raising the price are true). i don't understand why that view is perceived as contraversial.  

    So we can all bang the drum and engage in 'we will fight them on the beaches' rally-rousing stuff about previous 'fan victories', it can serve a purpose in lifting those engaged and providing them hope and it can give off the view of Charlton fans being passionate, creative, determined and many other positive things.

    But if you evaluate the last four years its clear he is a steely determined individual only ever influenced by his own mindset, which in his mind rarely wrong. And while other aspects clearly succeed in annoying him and in many cases provoke a reaction, it has never steered him any nearer to hastening his exit by making the sale more viable. Worryingly, no one can categorically say either that everytime Charlton fans annoy him in some way it doesn't make him more determined in his own mind to ensure he doesn't concede on his stance, can they?

    What do i think his mindset is saying? Who knows with him. My best interpretation is that he seperates this into three categories, potentially four; the club, the assets, the directors debt and potentially his own debt.

    In his mind, he is giving the club away. The problem is the accumulation of the valuation of the assets, and the other debt take the acquisition away from what is a viable fair value for a purchaser. But he just can't see that, as he sees land value as something he should not have to haircut. Why should he sell a house for less than its worth? He can't discount the club any further as he's attaching no valuation to it, and probably accepts he's not going to get all his debt back (how much his red line is on this is anyone's guess).

    But in my mind that land value is key and why i have had so little confidence over the last two years of a sale as i can't see anyone willing to pay that to take on a loss-making club and i can't see him lowering. I thought there was a chance in the immediate weeks following Wembley of either an interested party biting the bullet and raising it a bit more, or Roland seeing that opportunity to get out while the focus and interest was there, but neither happened and it was clear weeks ago that this window of opportunity had now sadly passed.

    So your belief is that if there had been no protests whatsoever he would have acted in exactly the same way throughout, Fraeye would have been removed in January 2016, British managers culminating in Bowyer would have been appointed, Meire would still have left and he would have moved from his 2017 position that the club was not for sale to negotiating with a whole stream of interested parties while spending hundreds of thousands on professional fees?

    Reminds me of the late Bill Treadgold, who argued that the Valley campaign had no impact on the return to The Valley because the directors were always going to bring the club back anyway, a view which just happened to justify his do-nothing position as chairman of the supporters' club.
    Top post!

  • Posted earlier by @clive - I wonder if the long drawn out process has anything to do with the promise implicit in there for a future share of any land deal.
    It might be that a certain time period must elapse - or there will be a price to pay....just a thought.

  • JamesSeed said:
    According to a non Aussie source, anyone buying Charlton would be around £90m in the hole, if all debts, loans and cost of club & Valley etc included. Apparently there is interest to pay on the loans, but they don’t technically need to be repaid. 
    So roughly:

    £1 for the club
    £30 Million for the ground and Sparrows lane and the cost that Roland paid for the club in the first place
    £59,999,999 to cover Roland's own debt debt

    Lovely
  • JamesSeed said:
    According to a non Aussie source, anyone buying Charlton would be around £90m in the hole, if all debts, loans and cost of club & Valley etc included. Apparently there is interest to pay on the loans, but they don’t technically need to be repaid. 
    £60m+ owed to RD, interest on top, former directors loans and club, The Valley and training ground valued at around £20 to £30m or so.

    Sounds about right, but no one will pay £30m as well as taking on or paying off Roland’s loans and interest.

    He needs to agree a deal that works for a buyer and not just himself.
  • edited July 2019
    @AFKABartram

    Final point. Yeah, I've got an "agenda". It is to not just sit at my keyboard moaning about Duchatelet but to work with others to get him out, as soon as possible. If you have a superior alternative plan to smart well thought out activities in Belgium then, trust me I will drop my "agenda" in a heartbeat and get behind it in any practical way.
    To be fair, he didn't accuse you of having an "agenda", he said he didn't think it was suitable to pick RD quotes and apply to them your agenda i.e. your argument or POV. Seemed harmless to me.
  • Scoham said:
    JamesSeed said:
    According to a non Aussie source, anyone buying Charlton would be around £90m in the hole, if all debts, loans and cost of club & Valley etc included. Apparently there is interest to pay on the loans, but they don’t technically need to be repaid. 
    £60m+ owed to RD, interest on top, former directors loans and club, The Valley and training ground valued at around £20 to £30m or so.

    Sounds about right, but no one will pay £30m as well as taking on or paying off Roland’s loans and interest.

    He needs to agree a deal that works for a buyer and not just himself.
    Lot of double counting in there. He paid for the assets in 2014 (-and took on the mortgage) and left that figure in as debt, so it’s all part of the £60m+, which will be £65m plus now. The debt figure already includes the accumulated interest.

    So let’s say £65m plus the £7m. There might be something to add around the training ground, which I guess can’t be left in limbo indefinitely.
  • Scoham said:
    JamesSeed said:
    According to a non Aussie source, anyone buying Charlton would be around £90m in the hole, if all debts, loans and cost of club & Valley etc included. Apparently there is interest to pay on the loans, but they don’t technically need to be repaid. 
    £60m+ owed to RD, interest on top, former directors loans and club, The Valley and training ground valued at around £20 to £30m or so.

    Sounds about right, but no one will pay £30m as well as taking on or paying off Roland’s loans and interest.

    He needs to agree a deal that works for a buyer and not just himself.
    Lot of double counting in there. He paid for the assets in 2014 (-and took on the mortgage) and left that figure in as debt, so it’s all part of the £60m+, which will be £65m plus now. The debt figure already includes the accumulated interest.

    So let’s say £65m plus the £7m. There might be something to add around the training ground, which I guess can’t be left in limbo indefinitely.
    Fair enough. What about the “hidden debt”? Or is that just a nonsense rumour?
  • JamesSeed said:
    According to a non Aussie source, anyone buying Charlton would be around £90m in the hole, if all debts, loans and cost of club & Valley etc included. Apparently there is interest to pay on the loans, but they don’t technically need to be repaid. 
    I think someone is yanking your chain, or your source is Napa!
  • What is the "hidden debt"?  

    My guess - the fee from the FA for engraving the FA Cup in 1947. 

    Anyone else..?
  • cafcwill said:
    JamesSeed said:
    According to a non Aussie source, anyone buying Charlton would be around £90m in the hole, if all debts, loans and cost of club & Valley etc included. Apparently there is interest to pay on the loans, but they don’t technically need to be repaid. 
    So roughly:

    £1 for the club
    £30 Million for the ground and Sparrows lane and the cost that Roland paid for the club in the first place
    £59,999,999 to cover Roland's own debt debt

    Lovely
    This is the delusional figure.  Until he accepts this is down to his stupidity of mismanagement and decides to walk away or remove it, he will own the club.  
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  • edited July 2019
    Scoham said:
    Scoham said:
    JamesSeed said:
    According to a non Aussie source, anyone buying Charlton would be around £90m in the hole, if all debts, loans and cost of club & Valley etc included. Apparently there is interest to pay on the loans, but they don’t technically need to be repaid. 
    £60m+ owed to RD, interest on top, former directors loans and club, The Valley and training ground valued at around £20 to £30m or so.

    Sounds about right, but no one will pay £30m as well as taking on or paying off Roland’s loans and interest.

    He needs to agree a deal that works for a buyer and not just himself.
    Lot of double counting in there. He paid for the assets in 2014 (-and took on the mortgage) and left that figure in as debt, so it’s all part of the £60m+, which will be £65m plus now. The debt figure already includes the accumulated interest.

    So let’s say £65m plus the £7m. There might be something to add around the training ground, which I guess can’t be left in limbo indefinitely.
    Fair enough. What about the “hidden debt”? Or is that just a nonsense rumour?
    Hard to see what it is. The high-interest loans were exposed in the Khakshouri case, discussed here:

    http://www.votvonline.com/home/the-2017-18-blogs/22-12-how-jimenez-schemed-to-leave-the-valley/

    We know Khakshouri had been settled and I don't see McGlynn being current. In any case they weren't made to Baton, the UK holding company, but to the BVI entity. Always been suggested to me that undisclosed debts were more likely to relate to foreign transfers, but nothing specific.
  • He's not really interested in selling. It'll be up to his heirs to take the inevitable haircut, by then the debt could reach Eddie Davies' Bolton levels and they will be in a hurry to offload. 
  • Chizz said:
    DOUCHER said:
    Yesterday felt pretty depressing but I’ve been convinced for s while now that he ain’t selling. I wonder whether Bowyer and Gallen laying the stark financial realities on the line to him prompted his appearance on talksport  - I’m not sure how he can claim to be a socialist yet know that 10,000 fans are going to suffer a miserable season if he doesn’t release  a small proportion of his vast wealth in order to give us half a chance next season - a socialist when it suits.
    Glossing over the bit about him claiming to be a socialist (where on earth does that come from?) were you convinced that he isn't selling when "someone at the club" told you a few days ago that the Muir was in negotiation with the ex-directors?  Or did you only become convinced when that turned out not to be true?   
    I said I didn't believe it and that view was reinforced by airmans post of bob whitehands comments - do keep up
  • Ahem ... Where’s @happyvalley 1959 was an important year for Mama and Papa Dick 
  • 1959, Juke Box Jury is first shown.
  • Hidden debt.
    That's what the Lookman trench was dug for,  to hide it.
  • From Guardian, Justice Green found that neither Jimenez nor Cash actually owned Charlton. Intereesting!
  • I've soothed myself with the following dilemma to put a positive slide on things.


    Which would you rather. And you can only have one. No Mish mashing

    Roland goes. New owners in. Bowyer asked to leave before the ink has dried. They've got their man and have had this on the back burner for years?

    Roland stays. Bowyer does to. He gets pretty much what he needs in additional loans and we crack on?
    I'll take option B please Carly.

    Option A is Roland in disguise. NOBODY with any sense would sack a successful manager this soon after their latest success.
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  • edited July 2019
    From Guardian, Justice Green found that neither Jimenez nor Cash actually owned Charlton. Intereesting!

    The article goes on to report: "And in that sense," Jiminez's solicitor concluded, "it's not about who actually owns Charlton, it's about the friends we've all made along the way. The defence rests your Honour."
  • From Guardian, Justice Green found that neither Jimenez nor Cash actually owned Charlton. Intereesting!
    then who did? Was it actually Jiminez and Cash's to sell? Maybe this is the problem. 
  • Agree there is no evidence to show that any protests have influenced the valuation or Duchâtelet’s acceptance of compromise one way or another.

    i think there is a fair amount of evidence they have influenced his actions (sack Slade, try to appoint Willder, agree to sell out of football totally, make wild comments through website and talk to talkshite) with the exiting being very directly linked to the timing of the actions.

    Unfortunately we cannot know the full reasons why a sale has not taken place. It does seem like the balance of evidence suggests there are issues on up front cash consideration and later conditional consideration.

    If Duchâtelet wanted to sell at any price, it would be done ages ago. If he wanted to sell at a reasonable price it would also likely be done by now unless there’s a lot we don’t j is in the background. 

    The main conclusion seems to be that despite everything he holds onto a price well in excess of what any reasonable buyer would agree to. 

    Unfortunately I agree with AFKA, I struggle to see how anything we do will get this to change. 
  • edited July 2019
    From Guardian, Justice Green found that neither Jimenez nor Cash actually owned Charlton. Intereesting!
    And presumably we don’t know who did or does perhaps in part even ?
  • Scoham said:
    JamesSeed said:
    According to a non Aussie source, anyone buying Charlton would be around £90m in the hole, if all debts, loans and cost of club & Valley etc included. Apparently there is interest to pay on the loans, but they don’t technically need to be repaid. 
    £60m+ owed to RD, interest on top, former directors loans and club, The Valley and training ground valued at around £20 to £30m or so.

    Sounds about right, but no one will pay £30m as well as taking on or paying off Roland’s loans and interest.

    He needs to agree a deal that works for a buyer and not just himself.
    Lot of double counting in there. He paid for the assets in 2014 (-and took on the mortgage) and left that figure in as debt, so it’s all part of the £60m+, which will be £65m plus now. The debt figure already includes the accumulated interest.

    So let’s say £65m plus the £7m. There might be something to add around the training ground, which I guess can’t be left in limbo indefinitely.

    No sane business person(s) are going to pay £72 million for what, in 10 month's time, could once again be a 3rd Division club. So unless he cuts his losses and sells for a reasonable price, we will be stuck with Roland for the foreseeable future.
  • From Guardian, Justice Green found that neither Jimenez nor Cash actually owned Charlton. Intereesting!
    And presumably we don’t know who did or does perhaps in part even ?

    This is the 'ownership' structure that was published in the papers of the Khakshouri case.

    Slater was just a former solicitor employed by Cash to devise ways of concealing his ownership of assets - for example when Cash was taken to an Employment Tribunal for sacking his butler he claimed he didn't own the country mansion where the sacking took place, but was just a 'non-paying guest'.

  • DOUCHER said:
    Chizz said:
    DOUCHER said:
    Yesterday felt pretty depressing but I’ve been convinced for s while now that he ain’t selling. I wonder whether Bowyer and Gallen laying the stark financial realities on the line to him prompted his appearance on talksport  - I’m not sure how he can claim to be a socialist yet know that 10,000 fans are going to suffer a miserable season if he doesn’t release  a small proportion of his vast wealth in order to give us half a chance next season - a socialist when it suits.
    Glossing over the bit about him claiming to be a socialist (where on earth does that come from?) were you convinced that he isn't selling when "someone at the club" told you a few days ago that the Muir was in negotiation with the ex-directors?  Or did you only become convinced when that turned out not to be true?   
    I said I didn't believe it and that view was reinforced by airmans post of bob whitehands comments - do keep up
    So, at the time the source at the club time you Muir was in discussions with the ex directors you didn't bekieve him/her, but you promulgated the rumour anyway? 

    What did your source day when you told him/her a few minutes later when their story was shown to be a lie? 

    Did he apologise? 
  • From Guardian, Justice Green found that neither Jimenez nor Cash actually owned Charlton. Intereesting!
    then who did? Was it actually Jiminez and Cash's to sell? Maybe this is the problem. 
    I don't know where the judge is coming from.  CAFC Holdings Ltd seems to be an offshore company so details not readily available, but the OS reported " Charlton Athletic Football Company Ltd is owned by Baton 2010 Ltd, which is owned by CAFC Holdings Limited (90 per cent) and Richard Murray (10 per cent).  CAFC Holdings Limited is in turn owned by Tony Jimenez (47.6 per cent) and Michael Slater (23 per cent) plus minority shareholders with less than 10 per cent".  Incidently from what I can see Murray still holds 10% which might explain why he is still a director.
This discussion has been closed.

Roland Out Forever!