The Takeover Thread - Duchatelet Finally Sells (Jan 2020)
Comments
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Who are these morons & where are they speculating ?harveys_gardener said:
On a further update, morons are speculating that DD issues mean that we are on the verge of bancrupcy despite RD being worth half a billion and financial experts explaining that banks don't advance money on services yet to be provided.harveys_gardener said:
No. People are still insisting that the Ozzies are going to pay £1-2m interest to pay up debentures for free title rather than wait until we are in the Prem. Others insist RD can't sell until they are settled. Some speculate that these multi-millionaires and their expensive legal teams have only just found out about directors loans despite them being in the public domain without DD. The more deluded insist Muir hasn't the funds.vff said:It was a good week predicated from James Seed and 450 posts since I last looked at this thread. Was it a good week, other than the England football team ? Is there any news on getting thread of Duchatelet and has anything happened apart from people getting angry and frustrated at the time the whole bloody thing is taking ?
https://beta.companieshouse.gov.uk/company/07326155/charges
All recycled inane speculation bereft of logic. Give it another week mate.1 -
Well, banks have been doing that with football clubs for years and to my certain knowledge still are, mainly because it’s not their money to withhold.harveys_gardener said:
On a further update, morons are speculating that DD issues mean that we are on the verge of bancrupcy despite RD being worth half a billion and financial experts explaining that banks don't advance money on services yet to be provided.harveys_gardener said:
No. People are still insisting that the Ozzies are going to pay £1-2m interest to pay up debentures for free title rather than wait until we are in the Prem. Others insist RD can't sell until they are settled. Some speculate that these multi-millionaires and their expensive legal teams have only just found out about directors loans despite them being in the public domain without DD. The more deluded insist Muir hasn't the funds.vff said:It was a good week predicated from James Seed and 450 posts since I last looked at this thread. Was it a good week, other than the England football team ? Is there any news on getting thread of Duchatelet and has anything happened apart from people getting angry and frustrated at the time the whole bloody thing is taking ?
https://beta.companieshouse.gov.uk/company/07326155/charges
All recycled inane speculation bereft of logic. Give it another week mate.1 -
Well that's my point but posters are saying it is because we are in financial crisis.Airman Brown said:
Well, banks have been doing that with football clubs for years and to my certain knowledge still are, mainly because it’s not their money to withhold.harveys_gardener said:
On a further update, morons are speculating that DD issues mean that we are on the verge of bancrupcy despite RD being worth half a billion and financial experts explaining that banks don't advance money on services yet to be provided.harveys_gardener said:
No. People are still insisting that the Ozzies are going to pay £1-2m interest to pay up debentures for free title rather than wait until we are in the Prem. Others insist RD can't sell until they are settled. Some speculate that these multi-millionaires and their expensive legal teams have only just found out about directors loans despite them being in the public domain without DD. The more deluded insist Muir hasn't the funds.vff said:It was a good week predicated from James Seed and 450 posts since I last looked at this thread. Was it a good week, other than the England football team ? Is there any news on getting thread of Duchatelet and has anything happened apart from people getting angry and frustrated at the time the whole bloody thing is taking ?
https://beta.companieshouse.gov.uk/company/07326155/charges
All recycled inane speculation bereft of logic. Give it another week mate.1 -
The point is that Charlton ARE being singled out because of their circumstances, although it’s not accurate to say there is a financial crisis.harveys_gardener said:
Well that's my point but posters are saying it is because we are in financial crisis.Airman Brown said:
Well, banks have been doing that with football clubs for years and to my certain knowledge still are, mainly because it’s not their money to withhold.harveys_gardener said:
On a further update, morons are speculating that DD issues mean that we are on the verge of bancrupcy despite RD being worth half a billion and financial experts explaining that banks don't advance money on services yet to be provided.harveys_gardener said:
No. People are still insisting that the Ozzies are going to pay £1-2m interest to pay up debentures for free title rather than wait until we are in the Prem. Others insist RD can't sell until they are settled. Some speculate that these multi-millionaires and their expensive legal teams have only just found out about directors loans despite them being in the public domain without DD. The more deluded insist Muir hasn't the funds.vff said:It was a good week predicated from James Seed and 450 posts since I last looked at this thread. Was it a good week, other than the England football team ? Is there any news on getting thread of Duchatelet and has anything happened apart from people getting angry and frustrated at the time the whole bloody thing is taking ?
https://beta.companieshouse.gov.uk/company/07326155/charges
All recycled inane speculation bereft of logic. Give it another week mate.
The bank is taking a view of the risk it faces of paying refunds under the consumer credit act in the event of a default by the club. Whether its view of that risk is realistic is another matter, but that is the issue.
To confirm my understanding was correct I asked the financial officer of another EFL club and he confirmed that it is not standard practice to drip feed season ticket money paid by credit card “except when they think there is s serious financial risk”.
That risk, in this case, is presumably caused by uncertainty over ownership rather than any prospect of imminent collapse, but even RD’s rep said that he’d never come across such a thing before.
The other thing I would say is that severe restrictions were proposed by merchant services providers in the past and negotiated off the table by the then Charlton management. It’s unclear when this situation first arose and whether the current regime had the experience or tenacity to face it down. They may just have accepted what the bank proposed, including because they expected it to become someone else’s problem.2 -
Sorry Rick but your post directly contradicts the one you posted immediately above. While I appreciate your inside info and fanzine, you are speculating again and many of your ITK observations have proved to be just that. Was your contact a CCC or L1? There is a difference. Stripe, PayPal, Worldpay, Paypoint, Shopify, Sage, 1st Data? All may have different protocols. They are not banks per sè. You are commenting on an issue raised by RD's lackey. If it was a problem at the club, why didn't your contacts appraise you sooner? Also, see Stig's contribution a few pages back.2
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If that's the case why doesn't the CFO get straight onto the Bank to , oh hold on a minute!Airman Brown said:
The point is that Charlton ARE being singled out because of their circumstances, although it’s not accurate to say there is a financial crisis.harveys_gardener said:
Well that's my point but posters are saying it is because we are in financial crisis.Airman Brown said:
Well, banks have been doing that with football clubs for years and to my certain knowledge still are, mainly because it’s not their money to withhold.harveys_gardener said:
On a further update, morons are speculating that DD issues mean that we are on the verge of bancrupcy despite RD being worth half a billion and financial experts explaining that banks don't advance money on services yet to be provided.harveys_gardener said:
No. People are still insisting that the Ozzies are going to pay £1-2m interest to pay up debentures for free title rather than wait until we are in the Prem. Others insist RD can't sell until they are settled. Some speculate that these multi-millionaires and their expensive legal teams have only just found out about directors loans despite them being in the public domain without DD. The more deluded insist Muir hasn't the funds.vff said:It was a good week predicated from James Seed and 450 posts since I last looked at this thread. Was it a good week, other than the England football team ? Is there any news on getting thread of Duchatelet and has anything happened apart from people getting angry and frustrated at the time the whole bloody thing is taking ?
https://beta.companieshouse.gov.uk/company/07326155/charges
All recycled inane speculation bereft of logic. Give it another week mate.
The bank is taking a view of the risk it faces of paying refunds under the consumer credit act in the event of a default by the club. Whether its view of that risk is realistic is another matter, but that is the issue.
To confirm my understanding was correct I asked the financial officer of another EFL club and he confirmed that it is not standard practice to drip feed season ticket money paid by credit card “except when they think there is s serious financial risk”.
That risk, in this case, is presumably caused by uncertainty over ownership rather than any prospect of imminent collapse, but even RD’s rep said that he’d never come across such a thing before.
The other thing I would say is that severe restrictions were proposed by merchant services providers in the past and negotiated off the table by the then Charlton management. It’s unclear when this situation first arose and whether the current regime had the experience or tenacity to face it down. They may just have accepted what the bank proposed, including because they expected it to become someone else’s problem.1 -
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Without going back over the pages I thought it was credit card money that is supposedly being held back, in which case it is the banks moneyAirman Brown said:
Well, banks have been doing that with football clubs for years and to my certain knowledge still are, mainly because it’s not their money to withhold.harveys_gardener said:
On a further update, morons are speculating that DD issues mean that we are on the verge of bancrupcy despite RD being worth half a billion and financial experts explaining that banks don't advance money on services yet to be provided.harveys_gardener said:
No. People are still insisting that the Ozzies are going to pay £1-2m interest to pay up debentures for free title rather than wait until we are in the Prem. Others insist RD can't sell until they are settled. Some speculate that these multi-millionaires and their expensive legal teams have only just found out about directors loans despite them being in the public domain without DD. The more deluded insist Muir hasn't the funds.vff said:It was a good week predicated from James Seed and 450 posts since I last looked at this thread. Was it a good week, other than the England football team ? Is there any news on getting thread of Duchatelet and has anything happened apart from people getting angry and frustrated at the time the whole bloody thing is taking ?
https://beta.companieshouse.gov.uk/company/07326155/charges
All recycled inane speculation bereft of logic. Give it another week mate.1 -
Has anyone checked the official site since the world cup started ?
Ok I knew it was a long shot
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Perhaps the drip-feeding of money on a game by game basis chat is all a ruse to get people to buy their season tickets now in the expectation that the club is sold and that the majority of the money will go to the new owners
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Just looked, apparently there was a change of ownership three weeks ago and we’ve sold out all season tickets for the coming season, 90% of them to new fans, other than that and the teams colours being changed to green and orange stripes not much to trouble this thread...don’t take my word for it, check for yourself if you don’t believe mesoapboxsam said:Has anyone checked the official site since the world cup started ?
Ok I knew it was a long shot2 - Sponsored links:
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I was thinking the banks decision maker is a member of CARD and they are doing their best to withhold funds from Roly ,FairPlay to them .Chrispy51 said:Perhaps the drip-feeding of money on a game by game basis chat is all a ruse to get people to buy their season tickets now in the expectation that the club is sold and that the majority of the money will go to the new owners
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No timescale? But I thought it was "this week?"Scoham said:
Genuinely think this is a case of sit back and wait till there's an official announcement because at the moment there's a lot of people that think they know a lot more than they actually know, getting a lot of clicks on their news articles by posting things they think might be true. I'm not criticising posters on here for the record, I think a lot of them probably know a lot more than those who monetize their gossip.
Two verifiable sources is journalism, I don't really think there's been a lot of proper journalism in relation to this takeover, which is a shame because it has actually got a lot of people's hopes up.
All I know is we are in approximately the 40th Friday of the week the takeover was supposed to happen.
When it's on the OS.2 -
Would be interesting to see how well a collective of wealthy individuals could run a club. Initially seems problematic in getting them all agree but having endured the autocratic and narcissistic tenure of the current owner it may prove to be a good thing.
Rather than too many cooks it could be healthy and balanced and draw on different experiences and contacts rather than being the failed experiment of a megalomaniac.20 -
Cawley has his own sources, I’m sure he’s not writing articles based on this thread and on rumours social media.4
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“All I want to do is just win games. If I don’t, that’s my fault.
“You can have a three-year deal – but if you don’t win games then you get the sack, simple as that.”
I like Bowyer26 -
Cawley was at the kit photo shoot yesterday.
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How was the ownership split in the Curbs years? What was the highest % one individual had?RodneyCharltonTrotta said:Would be interesting to see how well a collective of wealthy individuals could run a club. Initially seems problematic in getting them all agree but having endured the autocratic and narcissistic tenure of the current owner it may prove to be a good thing.
Rather than too many cooks it could be healthy and balanced and draw on different experiences and contacts rather than being the failed experiment of a megalomaniac.0 - Sponsored links:
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Too many cooks or many hands make light work.RodneyCharltonTrotta said:Would be interesting to see how well a collective of wealthy individuals could run a club. Initially seems problematic in getting them all agree but having endured the autocratic and narcissistic tenure of the current owner it may prove to be a good thing.
Rather than too many cooks it could be healthy and balanced and draw on different experiences and contacts rather than being the failed experiment of a megalomaniac.
We had multiple directors in the 90s and 2000s and one owner under Michael Glisten.
Seems to me that Muir wants everything lined up and has a clear five year or longer plan. Get commitment from a group of investors so the money stream is secure, get clear title, own all the assets and only then buy.
Frustrating in the short term for we fans but maybe the right thing in the long term.
WIOTOS26 -
Looks like my July 13th takeover prediction is gonna be toast!0
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Athletico Charlton said:
No, it really does not.ShootersHillGuru said:So a respected banking institution don’t have confidence enough in our finances to release money for financial services rendered to the club and have a genuine concern that CAFC might not be able to fulfill its league obligation.
That has to be a very big concern.
So there is cause for concern.Airman Brown said:
The point is that Charlton ARE being singled out because of their circumstances, although it’s not accurate to say there is a financial crisis.harveys_gardener said:
Well that's my point but posters are saying it is because we are in financial crisis.Airman Brown said:
Well, banks have been doing that with football clubs for years and to my certain knowledge still are, mainly because it’s not their money to withhold.harveys_gardener said:
On a further update, morons are speculating that DD issues mean that we are on the verge of bancrupcy despite RD being worth half a billion and financial experts explaining that banks don't advance money on services yet to be provided.harveys_gardener said:
No. People are still insisting that the Ozzies are going to pay £1-2m interest to pay up debentures for free title rather than wait until we are in the Prem. Others insist RD can't sell until they are settled. Some speculate that these multi-millionaires and their expensive legal teams have only just found out about directors loans despite them being in the public domain without DD. The more deluded insist Muir hasn't the funds.vff said:It was a good week predicated from James Seed and 450 posts since I last looked at this thread. Was it a good week, other than the England football team ? Is there any news on getting thread of Duchatelet and has anything happened apart from people getting angry and frustrated at the time the whole bloody thing is taking ?
https://beta.companieshouse.gov.uk/company/07326155/charges
All recycled inane speculation bereft of logic. Give it another week mate.
The bank is taking a view of the risk it faces of paying refunds under the consumer credit act in the event of a default by the club. Whether its view of that risk is realistic is another matter, but that is the issue.
To confirm my understanding was correct I asked the financial officer of another EFL club and he confirmed that it is not standard practice to drip feed season ticket money paid by credit card “except when they think there is s serious financial risk”.
That risk, in this case, is presumably caused by uncertainty over ownership rather than any prospect of imminent collapse, but even RD’s rep said that he’d never come across such a thing before.
The other thing I would say is that severe restrictions were proposed by merchant services providers in the past and negotiated off the table by the then Charlton management. It’s unclear when this situation first arose and whether the current regime had the experience or tenacity to face it down. They may just have accepted what the bank proposed, including because they expected it to become someone else’s problem.
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Andrew Muir renting your spare room til he builds his new house?JamesSeed said:
Well he doesn't get paid much to be fair.AFKABartram said:
His three day working week ended this afternoon :-)JamesSeed said:
Reply came, and the relevant bit is rather bland I’m afraid, although I guess it might be seen as positive?JamesSeed said:
I've asked the question, and if I get an answer I'll post it on here first.Chrispy51 said:Would be interesting if anyone here knows someone in the Aussie camp and could ask if the statements are consistent with their knowledge of things. Not l necessarily after details just a yes or no response (but with the obvious follow up questions if the answer is no!)
If only we had someone on this forum who knows one of the Aussies...
“spoke to Lieven today and he was very happy. Talk soon.”
Sorry folks, better than nothing....
Little bit of extra news (personal), which I can't share makes me now certain this is happening. I think we all knew that though didn't we?3 -
Has to be at least a couple of weeks away doesn’t it ? Paperwork still to be lodged with the EFL and time for that to be checked, returned and contract signed if everything works out. Might well be very close to Bowyer getting confirmation of permanent manager he spoke about come August ?0
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He doesn't have any money.0
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You misread the post. I am not speculating. You said that “banks” (your description) never advance payments in this situation and hence that “morons” thinking there is anything unusual here are wrong.harveys_gardener said:Sorry Rick but your post directly contradicts the one you posted immediately above. While I appreciate your inside info and fanzine, you are speculating again and many of your ITK observations have proved to be just that. Was your contact a CCC or L1? There is a difference. Stripe, PayPal, Worldpay, Paypoint, Shopify, Sage, 1st Data? All may have different protocols. They are not banks per sè. You are commenting on an issue raised by RD's lackey. If it was a problem at the club, why didn't your contacts appraise you sooner? Also, see Stig's contribution a few pages back.
In fact it has been standard practice for many years to forward the season ticket funds on receipt to my personal knowledge. I spoke to someone with 20 years experience of multiple L1 clubs in exactly this area - and still involved today - to check it is still the case and he confirmed that it is still standard practice to do so. He is someone who does the deal and manages the cash flow based on the income, not a junior employee.
One thing about working in football is that you get to know people at other clubs and everyone knows each other’s business and compares notes. Clubs help each other out in areas where they don’t compete and learn from each other if they have a problem or things change. If he says it’s not typical “unless they think there is serious financial risk” then it isn’t, because he will know.6 -
Just wake me up when it's done. Bored of it all now.5
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Who.....Bowyer?BrentfordAddick said:He doesn't have any money.
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