I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. Who is going to put us in admin anyway? not going to be the owners, they would lose everything. Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer
It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.
Could you explain what debt you are referring to...? I thought the only debt was on the books to the club. How is this "wiped". We don't owe any major creditor (yet) & the staff & players have been paid to date.
As someone posted above, I think going into administration would be a very bad idea Starting next season on -12 points with hardly any experienced players is a recipe for disaster. Just ask Bolton. And there is no guarantee that AB/PV would buy us, or that the Administratiors would sell the club to them.
Phillps lockyer pearce purrington pratley lapslie morgan oztumer bonne aneke
whete do you get hardly any experienced players?
lots of teams in league 1 have released lots of players. Our squad remains what it has been this season, a good league 1 squad
I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. Who is going to put us in admin anyway? not going to be the owners, they would lose everything. Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer
It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.
Could you explain what debt you are referring to...? I thought the only debt was on the books to the club. How is this "wiped". We don't owe any major creditor (yet) & the staff & players have been paid to date.
As someone posted above, I think going into administration would be a very bad idea Starting next season on -12 points with hardly any experienced players is a recipe for disaster. Just ask Bolton. And there is no guarantee that AB/PV would buy us, or that the Administratiors would sell the club to them.
Phillps lockyer pearce purrington pratley lapslie morgan oztumer bonne aneke
whete do you get hardly any experienced players?
lots of teams in league 1 have released lots of players. Our squad remains what it has been this season, a good league 1 squad
Where are you getting the word 'squad' from? You've just listed 10 players.
And yes, lots of teams may have released players...........but we can't sign anyone because of the embargo.
If we went into admin now, maybe that would encourage the EFL to penalise Wednesday and it will save Wigan. The Championship season hasn't ended until 4 August. It could save us too in terms of our future, rather than league position and give us a fighting chance next season in League One with scum like Duchatelet and the crooks removed.
If we say we can't pay the next round I assume. That is about a week away and the Championship season does not end until August 4 when all outcomes are decided.
I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. Who is going to put us in admin anyway? not going to be the owners, they would lose everything. Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer
It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.
Could you explain what debt you are referring to...? I thought the only debt was on the books to the club. How is this "wiped". We don't owe any major creditor (yet) & the staff & players have been paid to date.
As someone posted above, I think going into administration would be a very bad idea Starting next season on -12 points with hardly any experienced players is a recipe for disaster. Just ask Bolton. And there is no guarantee that AB/PV would buy us, or that the Administratiors would sell the club to them.
Phillps lockyer pearce purrington pratley lapslie morgan oztumer bonne aneke
whete do you get hardly any experienced players?
lots of teams in league 1 have released lots of players. Our squad remains what it has been this season, a good league 1 squad
Where are you getting the word 'squad' from? You've just listed 10 players.
And yes, lots of teams may have released players...........but we can't sign anyone because of the embargo.
The original post said we don’t have any experienced players. I listed 10 off the top of my head. Add oshi, doughty, Davison and Forster-caskey, that’s 14. Plus a few loan and maybe weirdu and Venning and that’s a good league 1 match day squad.
Yes we are in trouble but in true Charlton life fashion, the negativity on here is so exaggerated. League 1 has changed a lot in 12 months. Wimbledon released all players out of contract and currently have 10 pros. They are not the only ones. I don’t want to be in league 1 but we are a big fish. And a lot of the smaller fish are also in trouble.
we have one arm tied behind our back but teams like Rochdale who have had no income since February are also going to struggle.
If we went into admin now, maybe that would encourage the EFL to penalise Wednesday and it will save Wigan. The Championship season hasn't ended until 4 August. It could save us too in terms of our future, rather than league position and give us a fighting chance next season in League One with scum like Duchatelet and the crooks removed.
I really don’t think it will take Duchatelet out of the picture. He’ll still own the ground and the training ground with no real incentive to sell for less than it’s worth*, certainly not quickly.
I don't see how admin solves anything. The real problem is mainly Roland still owning the ground and Sparrows Lane. Admin doesn't help here as he would still own it. Needs everyone being sensible. Trouble is with the characters involved that's not likely to be the case. Who is going to put us in admin anyway? not going to be the owners, they would lose everything. Creditors, they could keep it going for quite a few months selling Phillips, Doughty, Bowyer in the hope of a mad buyer
It wipes the debt, which is what is driving his price. It pushes £7m ex-director loans on to him. It leaves him at risk of picking up the business rates, security, insurance and utilities on the two sites, with no rent. The business will collapse into admin if it is not able to compete in the EFL with the current owners and cannot be sold to new ones because of Duchatelet.
Any buyer outside admin is currently picking up a £50m commitment in four years’ time that will make no possible sense.
If we went into administration and found new owners would Duchatelet be willing to let us continue playing and training on his property? would new agreements need drawing up? If it were me I think I know what position I'd take. You have mentioned in the past about Duchatelets dreams for the Valley. Obviously you remember the last time a landlord had plans for the carpark to the rear of the old grand stand, years playing at other grounds.
Also I havent got a clue about these things other than |I know when a firm goes into administration lots of small people get trod on, potentially knocking them into financial difficulties. A filthy thing to do just to avoid your commitments.
Can someone explain how/why we would go into admin if wages and bills are being paid on time?
I get that we don't know who is paying them, but they are being paid.
If the EFL refuses to allow the club to start next season without proof of funds and ESI cannot show it, they would presumably be trading insolvently pretty quickly - which is potentially a criminal offence. No central revenue, no ticket revenue because no matches and no demonstrable business plan. Yes, transfer fees, but to what end?
Someone has to show the EFL circa £20m to be allowed to continue. Anybody who does that with Duchatelet’s deal hanging over their head and without current independent means to pay it is likely to be a fool or a crook.
The first question is whether ESI can pay the July wages or will choose to do so. The second is who is putting up the £5m-£10m the club is likely to lose between now and next May, even allowing for transfer income. Break even budget in the Championship is a hefty loss in L1 and there is no equilibrium point. You cannot cut your way out of it even if the players are amateurs - and that’s before we get to the effects of Covid-19
Until the Belgian prick is gone Charlton will always be in danger of folding because his overriding consideration is recovering the debt that he created. His past attitudes tell us that this will continue because of his belligerence and greed. Administration is the only avenue that will end this nightmare, its the last resort but that's where we are.
“Also I havent got a clue about these things other than |I know when a firm goes into administration lots of small people get trod on, potentially knocking them into financial difficulties. A filthy thing to do just to avoid your commitments.“ The impact of administration on a variety of small creditors is an important point ... it’s not only the current owners of club and ground who will be hurt.
“Also I havent got a clue about these things other than |I know when a firm goes into administration lots of small people get trod on, potentially knocking them into financial difficulties. A filthy thing to do just to avoid your commitments.“ The impact of administration on a variety of small creditors is an important point ... it’s not only the current owners of club and ground who will be hurt.
Didn’t the fans of Southampton club together and make sure that the small businesses that got knocked by them going into admin got their money?
“Also I havent got a clue about these things other than |I know when a firm goes into administration lots of small people get trod on, potentially knocking them into financial difficulties. A filthy thing to do just to avoid your commitments.“ The impact of administration on a variety of small creditors is an important point ... it’s not only the current owners of club and ground who will be hurt.
True but the number will be sharply reduced by the fact we han’t staged a match in public since March.
The damage done to local businesses is hard granted but would be worse if Charlton fade and die. The Belgian will be the biggest loser and we are talking millions. Yes he will still have the property but the squeeze will be on him and he will have to satisfy the ex directors loans. Airman could probably give you the final figure but it's, in my opinion, the one option to hurt him and start the process of removing his influence over our club.
Aside from ESI, are there other creditors who are ready to enforce their debts to push us into Administration?
Whether there are or not, will ESI continue to pay the bills if refused access to L1?
Do we have to effectively reapply each year to the EFL for our membership/golden ticket to be rolled over? I had assumed it was an automatic rollover??
If they didn't want to end the season without fans, how can they afford to start before the PMs fantasy of normality in October? also I suspect we wouldn't be the only club starting on -12
“Also I havent got a clue about these things other than |I know when a firm goes into administration lots of small people get trod on, potentially knocking them into financial difficulties. A filthy thing to do just to avoid your commitments.“ The impact of administration on a variety of small creditors is an important point ... it’s not only the current owners of club and ground who will be hurt.
True but the number will be sharply reduced by the fact we han’t staged a match in public since March.
Does anyone else remember how we took the moral high ground when Palace went into administration? It was the last scrap of high ground we had over Palace. That's how low we've sunk as a club, ethically as well as in football terms. There may be fewer small businessess affected but those businessess are likely already suffering due to the lockdown.
I recall Palace fans clubbed together to pay the money owing to the St John's Ambulance Service. I suggest if admin happens we consider something similar. Maybe if there is anyone of good character still working at the club they could be persuaded to organise it?
Comments
http://news.bbc.co.uk/sport1/hi/football/teams/c/crystal_palace/8481549.stm
lockyer
pearce
purrington
pratley
lapslie
morgan
oztumer
bonne
aneke
whete do you get hardly any experienced players?
lots of teams in league 1 have released lots of players. Our squad remains what it has been this season, a good league 1 squad
And yes, lots of teams may have released players...........but we can't sign anyone because of the embargo.
I get that we don't know who is paying them, but they are being paid.
Yes we are in trouble but in true Charlton life fashion, the negativity on here is so exaggerated. League 1 has changed a lot in 12 months. Wimbledon released all players out of contract and currently have 10 pros. They are not the only ones. I don’t want to be in league 1 but we are a big fish. And a lot of the smaller fish are also in trouble.
we have one arm tied behind our back but teams like Rochdale who have had no income since February are also going to struggle.
Also I havent got a clue about these things other than |I know when a firm goes into administration lots of small people get trod on, potentially knocking them into financial difficulties. A filthy thing to do just to avoid your commitments.
Someone has to show the EFL circa £20m to be allowed to continue. Anybody who does that with Duchatelet’s deal hanging over their head and without current independent means to pay it is likely to be a fool or a crook.
The first question is whether ESI can pay the July wages or will choose to do so. The second is who is putting up the £5m-£10m the club is likely to lose between now and next May, even allowing for transfer income. Break even budget in the Championship is a hefty loss in L1 and there is no equilibrium point. You cannot cut your way out of it even if the players are amateurs - and that’s before we get to the effects of Covid-19
The impact of administration on a variety of small creditors is an important point ... it’s not only the current owners of club and ground who will be hurt.
If there are minimal external creditors, baring the ex directors and Roland, wouldn't liquidation be a cheaper option for them?
I recall Palace fans clubbed together to pay the money owing to the St John's Ambulance Service. I suggest if admin happens we consider something similar. Maybe if there is anyone of good character still working at the club they could be persuaded to organise it?
I think September 12th is the rumoured date