"🧵 The investment prospectus by Marc Spiegel’s “Football Strategies Group” is now in the public domain.
It repeatedly claims 600K Londoners support #cafc. That figure, though not the definition, rang a 🔔. 1/4"
"A good while back CAST had discussions with Sandgaard regarding “Fill The Valley”. Remember that?! We reported figures from @YouGov tracker. 21% ‘liked’ #cafc. We applied this to the SE London & Kent population of 3M to come up with an estimate of 600K. ‘Like’ is not support. 2/4"
"Here’s a table CAST prepared of what it might take to “Fill The Valley”. Of that 600K, we said it would be **high cost** to get 100K to attend #cafc once in a season. Yet the prospectus talks of cutting costs and increasing ticket prices. 🤷♀️ 3/4"
According to the prospectus #cafc has a “Manageable, but devoted, fanbase that will not try to exert excess influence over the club.” Guess their research did not extend to The Valley Party and more recent protests. 🤔4/4"
Tweet transcript: "Had further contact from Marc Spiegel's side regarding #cafc takeover. They say they are not looking for funds to run or acquire the club. They say the investment document circulating is to raise funds for some acquisition plans in the next 12-18 months."
"Spiegel aiming to complete Charlton Athletic takeover
US businessman Marc Spiegel is aiming to complete his takeover of Charlton Athletic tomorrow.
The American, who made his fortune in recycling, is fronting the consortium looking to take over the club.
Their exclusivity period with Thomas Sandgaard – which was signed in February – has now expired. However, talks and negotiations with the US-based Dane have continued.
Current owner Sandgaard, who purchased the club in September 2020, looks set to relinquish all control of the Addicks and will not retain any stake once Spiegel’s takeover has been completed.
Spiegel was recently quoted by Bloomberg about the Charlton takeover, saying: “Our ambitions are more than just purchasing a club.
“We want to elevate the club – expose it to a new audience and win on the pitch.”
Charlie Methvan’s [sic] group were at an advanced stage of negotiations with Saangard [sic] before the current Charlton owner halted talks.
The Addicks are 11th in the League One table and have been in the third tier of English football since they were relegated from the Championship in July 2020.
Tweet transcript: "I get a lot of questions about #Cafc so I want to clarify the situation with an explanation. We currently do not have an official connection or any negotiation process initiated from us. We are closely following the current situation of the club. However I can understand the spirit and history of this club, I have great respect. I don't say things that cannot or cannot be done, nor will I say them. I reviewed the club's financial reports. The situation does not look very encouraging. Therefore, I think things will be very complicated for the investor at the beginning. We will continue to following the situation and progress and will pursue any opportunities that arise."
"🧵 The investment prospectus by Marc Spiegel’s “Football Strategies Group” is now in the public domain.
It repeatedly claims 600K Londoners support #cafc. That figure, though not the definition, rang a 🔔. 1/4"
"A good while back CAST had discussions with Sandgaard regarding “Fill The Valley”. Remember that?! We reported figures from @YouGov tracker. 21% ‘liked’ #cafc. We applied this to the SE London & Kent population of 3M to come up with an estimate of 600K. ‘Like’ is not support. 2/4"
"Here’s a table CAST prepared of what it might take to “Fill The Valley”. Of that 600K, we said it would be **high cost** to get 100K to attend #cafc once in a season. Yet the prospectus talks of cutting costs and increasing ticket prices. 🤷♀️ 3/4"
According to the prospectus #cafc has a “Manageable, but devoted, fanbase that will not try to exert excess influence over the club.” Guess their research did not extend to The Valley Party and more recent protests. 🤔4/4"
If the prospectus says we are a "manageable, but devoted, fanbase that will not try to exert excess influence over the club" then it worries me hugely in that this alone shows a complete lack of understanding of the club and its history. We've been down that avenue before.
"🧵 The investment prospectus by Marc Spiegel’s “Football Strategies Group” is now in the public domain.
It repeatedly claims 600K Londoners support #cafc. That figure, though not the definition, rang a 🔔. 1/4"
"A good while back CAST had discussions with Sandgaard regarding “Fill The Valley”. Remember that?! We reported figures from @YouGov tracker. 21% ‘liked’ #cafc. We applied this to the SE London & Kent population of 3M to come up with an estimate of 600K. ‘Like’ is not support. 2/4"
"Here’s a table CAST prepared of what it might take to “Fill The Valley”. Of that 600K, we said it would be **high cost** to get 100K to attend #cafc once in a season. Yet the prospectus talks of cutting costs and increasing ticket prices. 🤷♀️ 3/4"
According to the prospectus #cafc has a “Manageable, but devoted, fanbase that will not try to exert excess influence over the club.” Guess their research did not extend to The Valley Party and more recent protests. 🤔4/4"
If the prospectus says we are a "manageable, but devoted, fanbase that will not try to exert excess influence over the club" then it worries me hugely in that this alone shows a complete lack of understanding of the club and its history. We've been down that avenue before.
It gives us and most other clubs one tick for “manageable, devoted fanbase”. It gives Leeds and Millwall two - doesn’t that mean they’re more manageable and more devoted? i.e. crowds are maintained even if the club is struggling.
Tweet transcript: How long is left is irrelevant. The price being asked is too much, no real investor going to pay Thomas what he wants and take on the running losses for two years that EFL demands, that’s £30mn
Without owning any real estate.
Then convince Duchatalet to take Thomas agreement.
Tweet transcript: Couldn‘t agree more Bob. As things stand an investor is looking at £53m (£46m plus £7m to ex directors) for the property assets, circa £10m to TS for the club and players, circa £20m deposited to the EFL plus investment in players. And club is said to be losing around £9m pa.
"Marc Spiegel's takeover of #cafc will not happen today.
Intention had been for that to be the case. Described to me as "a roadblock" - which was not originally anticipated.
Both sides aiming to still reach a resolution in coming days."
Tweet transcript: Thomas Sandgaard responded to an email I sent him yesterday evening saying that today was not a deadline he had set for Spiegel's takeover to happen.
He said that people were "working hard" to complete the deal. #cafc"
It would be confirmation of a takeover but it will focus on the fact Friedman is back in town!
In short.....Friedman has another offer on the table and it's the only concrete one there is right now and TS is reviewing it. As yet I don't have any confirmation if it's on the same terms as before or if they have been revised to exclude TS as he wants out completely.
I can’t share the make up of this bid at the moment other than it's Josh Friedman doing the talking and negotiating.
TS and Spiegel are done that’s finished and gone away. TS does have another offer but not a bid and it's months away from being one.
Ball is totally in Sandgaard's hands but fans are turning against the Dane louder than ever before."
"Now a new name has surfaced in Roman Gevorkyan....a dodgy Armenian and a mult-club [sic] madman!
He's a poundshop Roland Duchatelet.
Fans need to be aware that this wrongen is determined to get his hands on us.
He's something like a budget airline broker who has a website inviting fans to invest money in his crazy low-end group of clubs. So low-rent it's a joke.
Unlikely EFL would pass them but TS is a c**t for wanting to talk to people like this after what he labelled ESI.
Next season will be gone if this guy gets his wish and 2 months to complete. Next season will be over before it even begins.
"Sound like it's TS who wants news of the Armenian's interest out there. Clearly the wanker just wants to strengthen his position in the talks with JF."
DubaiCAFC and Reams appear to get their information from the same person, who "lives and bleeds Charlton" according to Dubai, but ultimately will be controlled by Charlie Methven
There is a significant probability that the Armenian bidder is false; created by Methven to make us think he's the best option
"Friedman" seems to be code for Methven's group, just the source isn't putting his name in because he's unpopular
Joshua Friedman is part of a group of Californian-based investors who, led by former Sunderland director Charlie Methven, initially tried to buy the League One outfit six months ago; Sources close to the club have told Sky Sports News that the formal offer was received on Thursday
A consortium involving American billionaire Joshua Friedman has submitted a new and improved £10.5m offer to buy Charlton, after the impending collapse of a rival US-led takeover.
Friedman is part of a group of Californian-based investors who, led by former Sunderland director Charlie Methven, initially tried to buy the League One outfit six months ago.
In December the takeover appeared to be progressing well when the prospective new owners appointed a new management team, consisting of technical director Andy Scott, chief operating officer Jim Rodwell, finance director Ed Warrick and men's first-team manager Dean Holden.
However, in early February the deal suddenly collapsed when Charlton owner Thomas Sandgaard ended talks, saying at the time that the group "didn't comply" with "very specific terms" and he would explore alternatives.
Scott, Rodwell and Warrick immediately left the club and Sandgaard proceeded to sign an exclusivity agreement with a rival American bid led by Marc Spiegel.
The Spiegel takeover was due to be completed over the weekend, but it's understood that deal is also now on the verge of falling through at the last minute, leaving the club's future again uncertain.
Charlton manager Dean Holden called for "clarity" on the takeover situation ahead of his side's 3-2 victory over Port Vale, with the club entering a critical period of recruitment ahead of the summer transfer window and eight first-team players soon-to-be out of contract.
Charlton are currently 10th in League One with one game left to play, and are facing a fourth consecutive season playing in the third tier of English football.
Sky Sports News has been told that Sandgaard is now deciding whether to accept the increased £10.5m offer from the Friedman consortium, having walked away from the original £9m deal for 90 per cent of the club's shares.
If accepted, sources close to the club believe that the Friedman consortium could complete a deal within a matter of weeks, having already undertaken a large part of the EFL Owners' and Directors' Test during their previous attempt to buy the club.
Supporters have become increasingly disillusioned with the length of the process, and in recent matches have directed their displeasure at Sandgaard's ownership."
Ps, don't worry too much as everything is likely to be exactly the same by the time you get back and everyone on the takeover thread will be discussing everything under the sun bar the actual takeover.
Comments
Tweet 1 transcript:
"🧵
The investment prospectus by Marc Spiegel’s “Football Strategies Group” is now in the public domain. It repeatedly claims 600K Londoners support #cafc. That figure, though not the definition, rang a 🔔. 1/4"
Tweet 2 transcript:
"A good while back CAST had discussions with Sandgaard regarding “Fill The Valley”. Remember that?! We reported figures from @YouGov tracker. 21% ‘liked’ #cafc. We applied this to the SE London & Kent population of 3M to come up with an estimate of 600K. ‘Like’ is not support. 2/4"
Tweet 3 transcript:
"Here’s a table CAST prepared of what it might take to “Fill The Valley”. Of that 600K, we said it would be **high cost** to get 100K to attend #cafc once in a season. Yet the prospectus talks of cutting costs and increasing ticket prices. 🤷♀️ 3/4"
Tweet 4 transcript:
"But what do we know?
According to the prospectus #cafc has a “Manageable, but devoted, fanbase that will not try to exert excess influence over the club.” Guess their research did not extend to The Valley Party and more recent protests. 🤔4/4"
A mini interview with Okan Can Tüfekçi conducted by Twitter user @cafcowen
Tweet transcript: "Had further contact from Marc Spiegel's side regarding #cafc takeover. They say they are not looking for funds to run or acquire the club. They say the investment document circulating is to raise funds for some acquisition plans in the next 12-18 months."
"Spiegel aiming to complete Charlton Athletic takeover
US businessman Marc Spiegel is aiming to complete his takeover of Charlton Athletic tomorrow.
The American, who made his fortune in recycling, is fronting the consortium looking to take over the club.
Their exclusivity period with Thomas Sandgaard – which was signed in February – has now expired. However, talks and negotiations with the US-based Dane have continued.
Current owner Sandgaard, who purchased the club in September 2020, looks set to relinquish all control of the Addicks and will not retain any stake once Spiegel’s takeover has been completed.
Spiegel was recently quoted by Bloomberg about the Charlton takeover, saying: “Our ambitions are more than just purchasing a club.
“We want to elevate the club – expose it to a new audience and win on the pitch.”
Charlie Methvan’s [sic] group were at an advanced stage of negotiations with Saangard [sic] before the current Charlton owner halted talks.
The Addicks are 11th in the League One table and have been in the third tier of English football since they were relegated from the Championship in July 2020.
Tweet transcript: "I get a lot of questions about #Cafc so I want to clarify the situation with an explanation. We currently do not have an official connection or any negotiation process initiated from us. We are closely following the current situation of the club. However I can understand the spirit and history of this club, I have great respect. I don't say things that cannot or cannot be done, nor will I say them. I reviewed the club's financial reports. The situation does not look very encouraging. Therefore, I think things will be very complicated for the investor at the beginning. We will continue to following the situation and progress and will pursue any opportunities that arise."
If the prospectus says we are a "manageable, but devoted, fanbase that will not try to exert excess influence over the club" then it worries me hugely in that this alone shows a complete lack of understanding of the club and its history. We've been down that avenue before.
Peter Varney all but confirms he's out...
Tweet transcript: How long is left is irrelevant. The price being asked is too much, no real investor going to pay Thomas what he wants and take on the running losses for two years that EFL demands, that’s £30mn Without owning any real estate. Then convince Duchatalet to take Thomas agreement.
Tweet transcript: Couldn‘t agree more Bob. As things stand an investor is looking at £53m (£46m plus £7m to ex directors) for the property assets, circa £10m to TS for the club and players, circa £20m deposited to the EFL plus investment in players. And club is said to be losing around £9m pa.
Great...
Tweet transcript:
"Marc Spiegel's takeover of #cafc will not happen today.
Intention had been for that to be the case. Described to me as "a roadblock" - which was not originally anticipated.
Both sides aiming to still reach a resolution in coming days."
Tweet transcript: "Spiegel's group are now out of exclusivity and that means that Thomas Sandgaard is free to talk to other interested parties. #cafc"
Tweet transcript: Thomas Sandgaard responded to an email I sent him yesterday evening saying that today was not a deadline he had set for Spiegel's takeover to happen. He said that people were "working hard" to complete the deal. #cafc"
"there is another bidder waiting in the wings. The question is will TS return the call"
"Heard MS has walked away. Not 100% sure as things keep changing.
I can’t keep up with this. "
"Joshua Friesman's bid is about to be made public.
Not done yet but close. Down to TS now not to be a fool.
I knew this on Tuesday night but could not release it until today Spiegel's deal is over and his relationship with TS has completely collapsed.
I did try my very best to hint at it though!"
"Should be something out at around 3 30pm.
It would be confirmation of a takeover but it will focus on the fact Friedman is back in town!
In short.....Friedman has another offer on the table and it's the only concrete one there is right now and TS is reviewing it. As yet I don't have any confirmation if it's on the same terms as before or if they have been revised to exclude TS as he wants out completely.
I can’t share the make up of this bid at the moment other than it's Josh Friedman doing the talking and negotiating.
TS and Spiegel are done that’s finished and gone away. TS does have another offer but not a bid and it's months away from being one.
Ball is totally in Sandgaard's hands but fans are turning against the Dane louder than ever before."
"Now a new name has surfaced in Roman Gevorkyan....a dodgy Armenian and a mult-club [sic] madman!
He's a poundshop Roland Duchatelet.
Fans need to be aware that this wrongen is determined to get his hands on us.
He's something like a budget airline broker who has a website inviting fans to invest money in his crazy low-end group of clubs. So low-rent it's a joke.
Unlikely EFL would pass them but TS is a c**t for wanting to talk to people like this after what he labelled ESI.
Next season will be gone if this guy gets his wish and 2 months to complete. Next season will be over before it even begins.
www.getfootballnewsfrance.com/2022/paris-fc-announce-new-armenian-shareholder/"
"Sound like it's TS who wants news of the Armenian's interest out there. Clearly the wanker just wants to strengthen his position in the talks with JF."
Says there is an interested person:
"
Charlton takeover: Consortium involving American billionaire Joshua Friedman submits fresh bid
Joshua Friedman is part of a group of Californian-based investors who, led by former Sunderland director Charlie Methven, initially tried to buy the League One outfit six months ago; Sources close to the club have told Sky Sports News that the formal offer was received on Thursday
A consortium involving American billionaire Joshua Friedman has submitted a new and improved £10.5m offer to buy Charlton, after the impending collapse of a rival US-led takeover.
Friedman is part of a group of Californian-based investors who, led by former Sunderland director Charlie Methven, initially tried to buy the League One outfit six months ago.
However, in early February the deal suddenly collapsed when Charlton owner Thomas Sandgaard ended talks, saying at the time that the group "didn't comply" with "very specific terms" and he would explore alternatives.
Scott, Rodwell and Warrick immediately left the club and Sandgaard proceeded to sign an exclusivity agreement with a rival American bid led by Marc Spiegel.
Charlton manager Dean Holden called for "clarity" on the takeover situation ahead of his side's 3-2 victory over Port Vale, with the club entering a critical period of recruitment ahead of the summer transfer window and eight first-team players soon-to-be out of contract.
Charlton are currently 10th in League One with one game left to play, and are facing a fourth consecutive season playing in the third tier of English football.
Sky Sports News has been told that Sandgaard is now deciding whether to accept the increased £10.5m offer from the Friedman consortium, having walked away from the original £9m deal for 90 per cent of the club's shares.
If accepted, sources close to the club believe that the Friedman consortium could complete a deal within a matter of weeks, having already undertaken a large part of the EFL Owners' and Directors' Test during their previous attempt to buy the club.
Supporters have become increasingly disillusioned with the length of the process, and in recent matches have directed their displeasure at Sandgaard's ownership."
"Yes [Methven is still in the consortium] I believe so. As far as I’m aware the consortium has the same make up as previously."