"On the 23 March 2022 the repayment terms of £10,500k loan between the Company and T Sandgaard entered into on the 28 September 2020 and the additional loans provided by T Sandgaard of £5,450k were amended to be repayable on demand at any time by the Lender. The loan remains interest free and unsecured."
Can someone remind me why this change in loan repayment terms was made and is it known if any part repayments have subsequently been made?
Some interesting stuff in there. I'm sure someone on here will do a thorough analysis. Page 29 - a note says that basically if we don't make the Premier by 30th June, 2023 (some chance!) then the £7m owing to the previous directors changes materially...assume it is re-evaluated upwards...as £7m has been outstanding for some time...
Reminder that while there may some extra info here, these are a 10-month version of the accounts already published here and examined six months ago. The revenue etc is not new.
£44 million waived by Duchatelet? I really don't understand that bit. Was the loss making part that he offloaded to Sandgaard really worth that much?
I believe it was the debt owed to Staprix. RD waived that as he kept the Valley/SL.
Looks like TS paid £1.15m on purchase, I assume to ESI.........
Not a bad return for an investment of £1 is it? Could the next chancers please form an orderly queue?
I know they had to be paid off, but it’s gutting to see it in black and white (if that is what that number represents).
Page 44 describes it as "Purchase consideration settled in cash" Must be ESI surely. The legal fees to Freshfield's wouldn't be so described and must be included elsewhere.
Reminder that while there may some extra info here, these are a 10-month version of the accounts already published here and examined six months ago. The revenue etc is not new.
Be good if we could identify what information is new
Charlton new parent Clear Ocean Capital publishes (late) accounts for 10 months to 30 June 2021 when made operating loss of £210,000 A WEEK during covid hit season. #CAFC
From memory but I'd have to check, the last accounts for the women team included a payment from the late Alan Watts of in excess of £650k, so the company was pretty solvent!
I’m starting to wonder if sporting establishments are realising the after affects of lockdown. It’s already been the nail in the coffin for Worcester Rugby. A club who piled up debts to win a championship but then couldn’t continue to chuck money at it. Watching professional players been told there’s no club therefore no job, thanks, close the door on your way out. Wasps could be next.
Cutting ones cloth could become the norm throughout. But it’s never the players these days……………just Janice from accounts, Bob the kitman etc etc etc.
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Can someone remind me why this change in loan repayment terms was made and is it known if any part repayments have subsequently been made?
£44 million waived by Duchatelet? I really don't understand that bit. Was the loss making part that he offloaded to Sandgaard really worth that much?
Looks like TS paid £1.15m on purchase, I assume to ESI.........
From memory but I'd have to check, the last accounts for the women team included a payment from the late Alan Watts of in excess of £650k, so the company was pretty solvent!
I know the tweet is there but here's an article anywho!
Wasps could be next.
Cutting ones cloth could become the norm throughout.
But it’s never the players these days……………just Janice from accounts, Bob the kitman etc etc etc.