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Foxy’s Takeover Catch-Up Thread

Below is a timeline of the (hopefully) Post-Methven era. 


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    Friday 10th February
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    13:41 – Rich Cawley – Twitter: Sounds as if the Methven-lead takeover has collapsed. And that all the people brought in by him – barring Dean Holden – have left #cafc. Trying to find out more. Will post when I can.
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    13:58 – Rich Cawley – Twitter: Charlie Methven’s side saying Thomas Sandgaard withdrew with a day to go. They say nothing to do with price and that he contacted them to say he had changed his mind. #cafc

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     14:08 – Rich Cawley – Twitter: Methven’s group say price was agreed at £8.5m for 90 per cent of the club. And that deposit paid and banks funded. Then they got a letter from Sandgaard saying “I’ve decided not to proceed”. #cafc

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    edited February 2023
    14:24 – Rich Cawley – South London Press:

    Sandgaard quotes

    “I can’t say a lot until this point, it was best to keep it under wraps. I had signed a long-term sheet with that group that was led by Charlie. There was some very specific terms that were very clear at the end of January and coming into February that they didn’t comply with. Those were really the key items in the deal.

    “So this morning I told Charlie I can’t keep doing this, that’s why that deal is off.”

    “But everything is good in that we are moving forward and have a plan B. I think actually that everything is looking up for the club. If you look at the football side then I think Dean Holden is doing pretty good. I’m very happy about the job he is doing – very aligned. And I think he has said that publically. It’s a good working relationship.”

    On Holden: “He is on a whole different contract and, as a matter of fact, we are talking about making that a new and stronger contract.

    “Both parties like that position. I think he likes it too. We’re working on that, it’s totally separate.”

    On other parties: “Yeah, yeah – for quite some time I’ve been looking at different ways of getting more investments into the club other than just my own money. There’s a lot I’m working on that hopefully will strengthen our position coming into the summer.”

    On his finances: “I’m doing just fine. Everything is good in camp Sandgaard, if you want to call it that. I didn’t suddenly pull out of a deal. It was a group that simply didn’t adhere to the terms and for quite some time did not do that. They didn’t fund anything – it’s still on me.

    “I know they were very interested at getting into the club but if you can’t stick to the terms that you set up the original deal with then there is really nothing there. Eventually I had to say this can’t continue.”

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    14:59 – Ben Ransom – Twitter: 

    “The potential takeover of Charlton – led by former Sunderland co-owner Charlie Methven has collapsed.

    He was fronting a consortium that had agreed an £8.5m deal to buy 90% of the League One club in mid-December

    #cafc 1/5 🧵“

    “The consortium consisted of Gabriel Brener – who holds a stake in Houston Dynamo – and Joshua Friedman.

    Brener recently attended a match where he made contact with key figures within the #cafc  community. 


    “They had expected to complete a takeover – subject to EFL approval – by the end of the week, and had paid what they’ve called a ‘substantial deposit.’

    The prospective owners had also put in place a new senior management team – including Andy Scott and #cafc manager Dean Holden 3/5”

    “The money was in a bank account ready to complete the deal, but at the lunchtime today told by the potential new owners that they received a message from current owner Thomas Sandgaard saying the deal for #cafc was off. 4/5”

    “Been told by a source close to deal that the group are “surprised, disappointed and confused” as to why Mr Sandgaard would pull out of the deal when nothing had changed from the buyers side.

    #cafc 5/5”

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    16:32 – @Swisdom – Charlton Life:

    “Direct quote from CM to me just now

    “He pulled out, from nowhere, on closing day, can only assume he has a new offer”

    I’ve asked him what this means for Scott, Rodwell and Warrick….awaiting reply"

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    16:40 - @Swisdom – Charlton Life:

    [On RC reporting that Rodwell, Scott and Warrick are gone]

    I know. I was seeing if I could get it from the horses mouth. And now I have.

    “CAFC cut their emails and bank authorities this morning”

    I’m asking who the money men were but I highly doubt he’ll say

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    17:30 – Adam Williams – Football Insider:

    Sandgaard wanted to keep 10%, but then changed the figure to 20% after SE7 Partners [Methven and Warrick] had made a £1m deposit. Then he said 18%, but the deal was still not agreed.

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    17:40 – Matt Slater – The Athletic:

    An £850,000 deposit was paid. “Methven’s group will try to revive the deal but if they cannot, legal action is likely, particularly if it emerges Sandgaard is in talks to sell the club to someone else”

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    19:47 – Peter Varney – Twitter: “Thank you to everyone for their tweets today and I hope you understand that I will be making no comment at this time but keep up the great support you continue to give the team and above all keep positive!!”

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    Saturday 11th February
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    08:51 – Rick Everitt – Twitter: “Discussions about cuts had already begun internally with #cafc staff under the Methven gang, I hear. Finance director Warrick has been described as “clueless” about them by one insider, who was also unimpressed by COO Jim Rodwell.”
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    I massively appreciate this. I hadn't seen the stuff post Methven deal being off. 
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    edited February 2023
    ~15:00: Thomas and Martin Sandgaard attend Charlton's 2-1 loss at home to Fleetwood [Photo credit: @pedwards72 on Twitter]image
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    ~17:47 - The Far Post - BBC Radio London: 

    Dean Holden gives an interview with Harry Low after the game

    Harry Low (H): Of course, Thomas Sandgaard was here today, the Chairman, did you get a chance to chat to him?

    Dean Holden (DH): [Immediately] No.

    H: Have you got any clarification about the future of Charlton’s management, and how it’s going to be run going forwards?

    DH: No, absolutely not. I mean, the first I obviously heard about the … what happened yesterday, I got the conversation with Andy Scott immediately following training, about 1 o’clock, I think it was and I was notified of what had happened. I had a  very quick conversation with Thomas over the phone; and my focus has been purely on this game. For that to come the day before a game, I can’t take my focus (off) and [?] asking too many questions, my focus is on preparing the players for the game today. Clearly now, there’s gonna be some time over the weekend for me to sit with Thomas and find out exactly what’s going on, in terms of moving forwards as a club, what does that look like. I’ve absolutely loved my time at this club. Obviously, we need to find out exactly what it looks like moving forward and have some good, honest conversations.

    H: What would you like it to look like?

    DH: It’s not about what I want it to look like, I’m the manager of this football club, currently ‘til the end of this season, with the contract that I’ve got. It’s not about me going public to say what I would want. I just obviously want clarity, in terms of what it’s gonna look like, it’s as simple as that. I’ve had good conversations with Thomas, since I’ve been in the job. I’ve been working with the guys, in terms of, Jim and Andy Scott. It was a surprise yesterday, I’ll be honest with you it was, but again, we’ll sit down, we’re all big boys, and we’ll have a good chat

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    Foxycafc said:
    ~15:00: Thomas and Martin Sandgaard attend Charlton's 2-1 loss at home to Fleetwood [Photo credit: @pedwards72 on Twitter]image
    ~15:00: Peter Varney was also in attendance
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    Sunday 12th February
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    ~16:00 - dickplumb - Into The Valley: "My excellent contact has told me the following. It is just a rumour so take it as such, but it has come from a good place. Takeover next week - Sandgaard’s right hand man Kyle Henderson told staff including the players this morning. It is not Methven."
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    ~16:00 - dickplumb - Into The Valley: Varney and Sandgaard have been in talks since 31st January
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    ~18:36 - dickplumb - Into The Valley: "Methven saying they know who the other bid is and it’s not Varney."
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    Blimey from the thread title I thought Foxy had completed a takeover  :o
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    Chizz said:


    Tiberius, under order of Emperor Augustus, quells revolts in Germania.
    Maximus Decimus Meridius absolutely fuming he didn't get to quell the revolt.
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    edited February 2023
    MrOneLung said:
    Callum is absolutely fuming he didn’t think to start this thread …
    Emphatic no thank you!

    Do not envy the job ahead of you @Foxycafc this could drag on for weeks, if not months.
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