"Sandgaard also has to counter-sign an EFL letter. Each investor in SE7 Partners has had to sign a letter confirming a two-year cash commitment – relevant to their percentage of ownership – at the financial level determined by the EFL’s funding department."
The Cawley article contains an interesting bit of information, or at least makes clear something that seemed to me to be a bit vague. Each shareholder has to have two years money to keep Charlton going in proportion to their shareholding or they don’t get the nod from the EFL. In back of an envelope terms if the club loses 10 million a year (20 over two years) and Mr Methven has a 10% share, then he has to prove he is good for 2 million over the next two years. I would expect the EFL to have some kind of method where that 20 million is locked away in a vault of some kind for two years (accumulated in proportion to shareholding) and those monies are released at need by some kind of burser. Now I know with my business ignorance it probably doesn’t work quite like that, maybe somebody can clarify how indeed it does work. What stops somebody showing they have funds for the future, but not fronting up when the need arises?
"Sandgaard also has to counter-sign an EFL letter. Each investor in SE7 Partners has had to sign a letter confirming a two-year cash commitment – relevant to their percentage of ownership – at the financial level determined by the EFL’s funding department."
Still feeling very uneasy about our long term future but I have to say I'm feeling quite optimistic about this season at least.
Yep this is where I am at the moment. Short term we have a much better chance of doing well for the next 2-3 years but will be interested to hear the long term plan if there is one
Still feeling very uneasy about our long term future but I have to say I'm feeling quite optimistic about this season at least.
Yep this is where I am at the moment. Short term we have a much better chance of doing well for the next 2-3 years but will be interested to hear the long term plan if there is one
There will be a time limited plan of that I have no doubt but apart from the usual takeover guff of ambition, history, blah blah we won’t hear the real intentions.
"Sandgaard also has to counter-sign an EFL letter. Each investor in SE7 Partners has had to sign a letter confirming a two-year cash commitment – relevant to their percentage of ownership – at the financial level determined by the EFL’s funding department."
I understand people are sceptical but this takeover has the potential to do a lot of good for us as a club. Even if it is the new owners intention to sell us on in 2/3 years, then the way for them to maximise profit in a potential sale is for us to be successful on the pitch.
I doubt their true long term intentions go past this, which is fine with me.
The Cawley article contains an interesting bit of information, or at least makes clear something that seemed to me to be a bit vague. Each shareholder has to have two years money to keep Charlton going in proportion to their shareholding or they don’t get the nod from the EFL. In back of an envelope terms if the club loses 10 million a year (20 over two years) and Mr Methven has a 10% share, then he has to prove he is good for 2 million over the next two years. I would expect the EFL to have some kind of method where that 20 million is locked away in a vault of some kind for two years (accumulated in proportion to shareholding) and those monies are released at need by some kind of burser. Now I know with my business ignorance it probably doesn’t work quite like that, maybe somebody can clarify how indeed it does work. What stops somebody showing they have funds for the future, but not fronting up when the need arises?
I don’t think the EFL lock the funds away in some sort of high security vault in Preston! I would imagine you just need to demonstrate sufficiency of funds for the duration (I.e you have adequate liquid assets to cover your share of the running costs)
I understand people are sceptical but this takeover has the potential to do a lot of good for us as a club. Even if it is the new owners intention to sell us on in 2/3 years, then the way for them to maximise profit in a potential sale is for us to be successful on the pitch.
I doubt their true long term intentions go past this, which is fine with me.
nail on the head mate. If they achieve their aims and flip us for a profit then good luck to them, I hope they do and earn a fortune as that will mean we are in a far better place than we have been for years
Comments
At this stage.
Coffee. Custard. And these bad boys on order.
@AFKABartram must've had page 777 on the other takeover thread sweepstake 😀
Anyone?
Each shareholder has to have two years money to keep Charlton going in proportion to their shareholding or they don’t get the nod from the EFL.
In back of an envelope terms if the club loses 10 million a year (20 over two years) and Mr Methven has a 10% share, then he has to prove he is good for 2 million over the next two years.
I would expect the EFL to have some kind of method where that 20 million is locked away in a vault of some kind for two years (accumulated in proportion to shareholding) and those monies are released at need by some kind of burser.
Now I know with my business ignorance it probably doesn’t work quite like that, maybe somebody can clarify how indeed it does work.
What stops somebody showing they have funds for the future, but not fronting up when the need arises?
Bet he’s an awkward sod over that
A step forward for the club.
Good news.
Well done mate.
Couldn't take ANOTHER takeover thread before 2027...
I doubt their true long term intentions go past this, which is fine with me.