The below statement has been jointly-produced by Charlton Athletic and a group of investors hoping to take over the club.
Charlton Athletic can confirm that it is expecting a takeover of the club to be completed by a select group of investors linked to The Australian Football Consortium.
The group has a significant interest in the long-term prosperity of the club and is committed to seeing the deal go ahead.
Understandably, negotiations of this scale take time due to the enormous amount of due diligence that goes on behind the scenes, the need to satisfy the regulatory complexities of a football takeover and the challenges of assembling an ownership group.
The current ownership would like to assure the club’s supporters that the running of the club will remain its priority throughout this process. The club’s management team are focused on the club’s operations, and Lee Bowyer and his staff are continuing their preparations for the upcoming season.
We will provide a further update when further developments are made. In the meantime, thank you for your continued support.
If you ask me THIS is the main reason any deal is taking so long to complete.
But again, we don't know that for sure. We do know that they've spent up to two years looking at the legals. A massive delay. It's possible that a couple of investors pulled out at the end of May because they weren't happy with the legals. A smaller delay. But we don't really know, meanwhile 1000 pages draws ever closer.
To be fair at least it gives us masses something concrete that things are happening so fair play to both sides for publishing that as up until now there hasn't been anything official from the club really in that respect.
Hopefully things will get over the line although a concern that due diligence is really taking this long if its been in the offing for as long as reported.
Every now and then, a beauty of a comment is popped in and the thread goes mad.
Once it gets to 1000, the two of them will go off on holiday together to Paris, leaving us all in utter despair.
So now we know the two protagonists have roped in the current ownership, the OS and an imaginary Australian consortium in their quest to reach 1000 pages.
As ambiguous as it may be, let's not shy away from the fact that it's the FIRST official announcement we have had from the club, with a buyer mentioned, tying it all together. It makes it what it is, an official announcement. Surely that has to be significant? And wouldn't have been made (hopefully) without substance.....
Every now and then, a beauty of a comment is popped in and the thread goes mad.
Once it gets to 1000, the two of them will go off on holiday together to Paris, leaving us all in utter despair.
So now we know the two protagonists have roped in the current ownership, the OS and an imaginary Australian consortium in their quest to reach 1000 pages.
Shameful.
I can't work out their motivation - it still won't get a promote.
'Understandably, negotiations of this scale take time due to the enormous amount of due diligence that goes on behind the scenes, the need to satisfy the regulatory complexities of a football takeover and the challenges of assembling an ownership group.'
'the need to satisfy the regulatory complexities' Suggests the EFL are not happy with the current status of the proposed ownership.
'the challenges of assembling an ownership group.' See the repeated claims of @nth london addick. They haven't got all the investors on board / funds required yet. i.e Roland's asking price.
This has got a while to go yet I feel.
Maybe but the wording is very carefully done.
It doesn't say that those issues still remain to be addressed or have been completed.
It deliberately, IMHO, leaves it open to interpretation so avoids having to putting a timescale on completion or having to say exactly what stage we are at.
It could well be that there is still an issue with the EFL, due dillegence is not complete and the ownership group has not been finalised.
But it could equally mean all three have been completed and that's why it has taken so long but it's about to be over.
You pay your money and you take your pick.
Things we do know.
It's on the OS.
The statement has agreed by both parties
The deal isn't off
This thread will hit 950 pages tonight
The British group aren't even mentioned
@JamesSeed would be fully entitled to say "in your face Carly Burn and the rest of you trolls" but he won't.
The takeover remains 0% done and will remain so until it is 100% done
We still don't have clarity on what, if anything has delayed the deal.
We still don't have clarity on when it will, if ever, be completed.
As ever don't panic and when it's on the OS
Agree with all your other points but don't think a poster(s)are trolls for being sceptical and even cynical over hitherto unsubstantiated postings given the context of the takeover saga and numerous false dawns.
Good to see there is some substance to what has been posted now for those of us not ITK although concerning as to why it continues to be so protracted with no sign of being complete by next season if at all.
Better than nothing though and good it has been published in an official capacity.
A lot of reading between the lines required here but a good summary @AFKABartram
"Having believed that he had an agreement to sell the Addicks to the Aussies, Duchatelet has reacted furiously to a change in the situation, which may have been caused by the buyer looking to benefit from the Belgian’s weak bargaining position."
Does that mean the Aussie low balled him?
"Duchatelet’s latest moves also seem to have lost him internal support that he could previously rely on to defend him, with other budgets also coming under scrutiny, although Murray has yet to break ranks."
Who within the club, other than Murray, has been supporting RD?
To be fair at least it gives us masses something concrete that things are happening so fair play to both sides for publishing that as up until now there hasn't been anything official from the club really in that respect.
Hopefully things will get over the line although a concern that due diligence is really taking this long if its been in the offing for as long as reported.
I very much doubt DD is still on going. If has been suggested a couple of investors have pulled out it is more likely that any replacements will want their own advisors to review the paperwork before committing funds.
As we don't know (and probably never will know) the number of members of the consortium or the level of investment requested it is impossible to draw any conclusions from this. I very much doubt that there are more than half a dozen members who will be wealthy and probably businessmen/ professional investors. These people do not hand over the kind of money required without checks and balances, that's how they get to be wealthy in the first place.
One thing we can be sure of is that whoever they are and however many they are none of them will see themselves as Alan Turing reincarnate or as the figurehead for a brave new world where results don't matter and the only point of a football match on a Saturday afternoon is the dancing which will take place afterwards and the ritual kissing of a Belgian ring!
None of this comes from being ITK just mere conjecture on my part.
Very bland statement....there to pacify the fans from both perspectives (Aussies = we're still here & trying....CAFC = RD is not running the club into the ground) but yet tells us nothing.
I agree with previous posters that its worded to suggest the problem is with the funding & also previous problems found during DD....
HOWEVER.....
did it not occur to the investors who the EFL have problems with that this was going to be the case ?? Did Muir etc not know this or did they hide it from him / other investors ??? Did the expect the EFL not to notice they own/ have interest in other clubs ??? Schoolboy error of the highest magnitude.
fuckwits running the club & fuckwits wanting to takeover......sigh.
The current ownership would like to assure the club’s supporters that the running of the club will remain its priority throughout this process./i>
Remain it's priority?
The current ownership says Charlton has 1.5% of his attention. However during this process Duchatelet is prepared to devote more time to Charlton than anything else.
The running of the club?
So we can assume that Duchatelet is running the club directly, and the decisions, particularly with regard to players, are down to him.
To be fair at least it gives us masses something concrete that things are happening so fair play to both sides for publishing that as up until now there hasn't been anything official from the club really in that respect.
Hopefully things will get over the line although a concern that due diligence is really taking this long if its been in the offing for as long as reported.
I very much doubt DD is still on going. If has been suggested a couple of investors have pulled out it is more likely that any replacements will want their own advisors to review the paperwork before committing funds.
As we don't know (and probably never will know) the number of members of the consortium or the level of investment requested it is impossible to draw any conclusions from this. I very much doubt that there are more than half a dozen members who will be wealthy and probably businessmen/ professional investors. These people do not hand over the kind of money required without checks and balances, that's how they get to be wealthy in the first place.
One thing we can be sure of is that whoever they are and however many they are none of them will see themselves as Alan Turing reincarnate or as the figurehead for a brave new world where results don't matter and the only point of a football match on a Saturday afternoon is the dancing which will take place afterwards and the ritual kissing of a Belgian ring!
None of this comes from being ITK just mere conjecture on my part.
As ambiguous as it may be, let's not shy away from the fact that it's the FIRST official announcement we have had from the club, with a buyer mentioned, tying it all together. It makes it what it is, an official announcement. Surely that has to be significant? And wouldn't have been made (hopefully) without substance.....
Now, who said Zabeel....?
And who’d have thought it would take Jimmy Seed’s metal head to make it happen ;-)
As ambiguous as it may be, let's not shy away from the fact that it's the FIRST official announcement we have had from the club, with a buyer mentioned, tying it all together. It makes it what it is, an official announcement. Surely that has to be significant? And wouldn't have been made (hopefully) without substance.....
Now, who said Zabeel....?
And who’d have thought it would take Jimmy Seed’s metal head to make it happen ;-)
So you're saying Jimmy Seed was in to Slayer / Iron Maiden? Nice!
Sounds to me like they don't have/aren't willing to invest enough without additional investors. Possibly because they were declined by the EFL due to involvement with other clubs.
From the joint statement, I would have to agree with your first sentence. This could drag and drag whilst the owner plays his hand by looking after his euros and trying if he can help it by not increasing his debt, anymore than he has to, whilst the Aussies continue to get this deal done.
'Understandably, negotiations of this scale take time due to the enormous amount of due diligence that goes on behind the scenes, the need to satisfy the regulatory complexities of a football takeover and the challenges of assembling an ownership group.'
'the need to satisfy the regulatory complexities' Suggests the EFL are not happy with the current status of the proposed ownership.
'the challenges of assembling an ownership group.' See the repeated claims of @nth london addick. They haven't got all the investors on board / funds required yet. i.e Roland's asking price.
This has got a while to go yet I feel.
Maybe but the wording is very carefully done.
It doesn't say that those issues still remain to be addressed or have been completed.
It deliberately, IMHO, leaves it open to interpretation so avoids having to putting a timescale on completion or having to say exactly what stage we are at.
It could well be that there is still an issue with the EFL, due dillegence is not complete and the ownership group has not been finalised.
But it could equally mean all three have been completed and that's why it has taken so long but it's about to be over.
You pay your money and you take your pick.
Things we do know.
It's on the OS.
The statement has agreed by both parties
The deal isn't off
This thread will hit 950 pages tonight
The British group aren't even mentioned
@JamesSeed would be fully entitled to say "in your face Carly Burn and the rest of you trolls" but he won't.
The takeover remains 0% done and will remain so until it is 100% done
We still don't have clarity on what, if anything has delayed the deal.
We still don't have clarity on when it will, if ever, be completed.
'Understandably, negotiations of this scale take time due to the enormous amount of due diligence that goes on behind the scenes, the need to satisfy the regulatory complexities of a football takeover and the challenges of assembling an ownership group.'
'the need to satisfy the regulatory complexities' Suggests the EFL are not happy with the current status of the proposed ownership.
'the challenges of assembling an ownership group.' See the repeated claims of @nth london addick. They haven't got all the investors on board / funds required yet. i.e Roland's asking price.
This has got a while to go yet I feel.
Maybe but the wording is very carefully done.
It doesn't say that those issues still remain to be addressed or have been completed.
It deliberately, IMHO, leaves it open to interpretation so avoids having to putting a timescale on completion or having to say exactly what stage we are at.
It could well be that there is still an issue with the EFL, due dillegence is not complete and the ownership group has not been finalised.
But it could equally mean all three have been completed and that's why it has taken so long but it's about to be over.
You pay your money and you take your pick.
Things we do know.
It's on the OS.
The statement has agreed by both parties
The deal isn't off
This thread will hit 950 pages tonight
The British group aren't even mentioned
@JamesSeed would be fully entitled to say "in your face Carly Burn and the rest of you trolls" but he won't.
The takeover remains 0% done and will remain so until it is 100% done
We still don't have clarity on what, if anything has delayed the deal.
We still don't have clarity on when it will, if ever, be completed.
As ever don't panic and when it's on the OS
Agree with all your other points but don't think a poster(s)are trolls for being sceptical and even cynical over hitherto unsubstantiated postings given the context of the takeover saga and numerous false dawns.
Good to see there is some substance to what has been posted now for those of us not ITK although concerning as to why it continues to be so protracted with no sign of being complete by next season if at all.
Better than nothing though and good it has been published in an official capacity.
No one is really ITK. I only know the same as you because I pass on what I hear, which since the beer meeting, is very little. So I'm ITK for as long as it takes for me to type the info. Rich Cawley and Airman also living off scraps, as are others on the Duchâtelet/Murray side. Tbh I think I passed on too much earlier on, hence my rightful position as fan director is now in jeapordy.
Comments
Can we make the 1000 by the weekend?
Hopefully things will get over the line although a concern that due diligence is really taking this long if its been in the offing for as long as reported.
I'm not renewing season ticket until he's gone.
Shameful.
Now, who said Zabeel....?
Good to see there is some substance to what has been posted now for those of us not ITK although concerning as to why it continues to be so protracted with no sign of being complete by next season if at all.
Better than nothing though and good it has been published in an official capacity.
A lot of reading between the lines required here but a good summary @AFKABartram
"Having believed that he had an agreement to sell the Addicks to the Aussies, Duchatelet has reacted furiously to a change in the situation, which may have been caused by the buyer looking to benefit from the Belgian’s weak bargaining position."
Does that mean the Aussie low balled him?
"Duchatelet’s latest moves also seem to have lost him internal support that he could previously rely on to defend him, with other budgets also coming under scrutiny, although Murray has yet to break ranks."
Who within the club, other than Murray, has been supporting RD?
As we don't know (and probably never will know) the number of members of the consortium or the level of investment requested it is impossible to draw any conclusions from this. I very much doubt that there are more than half a dozen members who will be wealthy and probably businessmen/ professional investors. These people do not hand over the kind of money required without checks and balances, that's how they get to be wealthy in the first place.
One thing we can be sure of is that whoever they are and however many they are none of them will see themselves as Alan Turing reincarnate or as the figurehead for a brave new world where results don't matter and the only point of a football match on a Saturday afternoon is the dancing which will take place afterwards and the ritual kissing of a Belgian ring!
None of this comes from being ITK just mere conjecture on my part.
I agree with previous posters that its worded to suggest the problem is with the funding & also previous problems found during DD....
HOWEVER.....
did it not occur to the investors who the EFL have problems with that this was going to be the case ?? Did Muir etc not know this or did they hide it from him / other investors ??? Did the expect the EFL not to notice they own/ have interest in other clubs ??? Schoolboy error of the highest magnitude.
fuckwits running the club & fuckwits wanting to takeover......sigh.
Remain it's priority?
The current ownership says Charlton has 1.5% of his attention.
However during this process Duchatelet is prepared to devote more time to Charlton than anything else.
The running of the club?
So we can assume that Duchatelet is running the club directly, and the decisions, particularly with regard to players, are down to him.
Happy Days
As you were.
Rich Cawley and Airman also living off scraps, as are others on the Duchâtelet/Murray side.
Tbh I think I passed on too much earlier on, hence my rightful position as fan director is now in jeapordy.