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Charlton on the brink as £40m debt is set to scupper takeover bid- Mail
BigRedEvil
Posts: 11,125
Charlton are poised to be the next club to fall into administration, with a takeover bid on the brink of collapse because of debts of up to £40m.
A group of local businessmen who had been in talks about a £30m buy-out were alarmed to discover the extent of the League One club's liabilities.
A source close to the bid said last night: 'The club are going through a slow, painful death. In strict business terms, a club with 10 fewer points, but millions of pounds less debt would be a far more attractive proposition.'
http://www.dailymail.co.uk/sport/football/article-1199063/Charlton-brink-40m-debt-set-scupper-takeover-bid.html?ITO=1490
Hope it's BS
A group of local businessmen who had been in talks about a £30m buy-out were alarmed to discover the extent of the League One club's liabilities.
A source close to the bid said last night: 'The club are going through a slow, painful death. In strict business terms, a club with 10 fewer points, but millions of pounds less debt would be a far more attractive proposition.'
http://www.dailymail.co.uk/sport/football/article-1199063/Charlton-brink-40m-debt-set-scupper-takeover-bid.html?ITO=1490
Hope it's BS
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Comments
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Well that's fucking cheered me up when I have the worst hangover ever known to man...............0
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Is this the negotiation entering its final phase? Sounds like clever brinkmanship.0
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Or yet another piece of Daily Mail trash?0
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Ordinarily I'd not be worried - what the Daily Mail knows about football (and anything in life, really) they could write on the back of a postage stamp with a crayon. But I think there's more than a germ of truth to this. I just can't see anyone in this economic climate wanting to spend 40 million quid on a club that had been punching above its weight for years.0
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Well, I'm not going to let a Sunday newspaper ruin my Saturday night.
If it's true, it can wait until Monday.
And if it's bollox, then I've read the Mail before (but I prefer no one knew that, because its a miserable depressing rag even on a good day).
Mick Collins will know.
Mick is it true - or bollox?0 -
The Mail broke the Zabeel deal breaking down. Does Peter Varney have Viscount Rothermere's phone number?0
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No, only Mick Collins' dad's number0
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They didn't just make it up - the administration line is speculative but the rest is probably true. I fear the announcement we've been led to expect early next week will now be that after two months of negotiating , a deal could not be reached.
Best case scenario is that the statement attributed to someone 'close to the bid' is a final attempt to exert pressure on the existing board to get a more favourable deal for the would-be new investors who are on the point of wthdrawing unless they can wring further financial concessions on the sale...0 -
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i have a bad feeling about this.
just when you think we've hit rock bottom, there's another level.0 -
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Wouldn't surprise me one little bit0
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It's just another episode in the long running saga that is Charlton Athletic.0
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Just as one door closes, another one slams in your face.0
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The Mail have a record of getting it right with us0
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How many threads have there been on here about the make up of our debt?.
We all know that the vast majority of our debt is "friendly" i.e owed to the current directors. Murray has already made noises that the directors are going to write off a large amount of what is owed to them.
Why would we be signing new players if we were on the brink and about to go into administration?.
Everyone untwist your knickers and stop worrying.
When you feel the panic coming on remember that most of us would wipe our arses with our hands before we used the Mail.0 -
"A source close to the bid said last night: 'The club are going through a slow, painful death. In strict business terms, a club with 10 fewer points, but millions of pounds less debt would be a far more attractive proposition.'"
If this is true it sounds like they would like us to go into administration so that they can but us on the cheap0 -
would be the icing on my cake this would if we went bust.. redunancy, other problems here and there.. thought cafc would be at least be able to put a smile on my face but after the woeful game on weds and now this it really is getting harder to live laugh love and be happy.. Are you there god its me... Jesus...
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[cite]Posted By: adamtheaddick[/cite]would be the icing on my cake this would if we went bust
if we go bust we should form a breakaway team and work our way back up. we could call it A.F.C. Charlton A.F.C.
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Sound like rubbish to me - we are not THAT badly run......are we?0
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'Clem reckoned:
'We all know that the vast majority of our debt is "friendly" i.e owed to the current directors.''
If the 40m figure is correct -and it seems not improbable - then it is not true that the ''vast majority'' of that is so-called friendly debt, is it?0 -
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don't worry, just put your head back into the sand, it'll all be ok eventually0
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i'm leaving this thread before it gets even more depressing. this pre-season needs to end so at least we have some football to watch (however bad it is, it'll be something to talk about). this is just torture.0
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FFS - GET A GRIP PEOPLE!!!!!!!!!!!!!!!
A simplistic notion I know but:
If we were about to go into administration why would we be heading of on a 7 day tour of Ireland? I am guessing the costs associated with a 7 day tour for a pro-football club a pretty high - training facilities, accomodation, travel, team building activities etc etc0 -
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[cite]Posted By: nigel w[/cite]'Clem reckoned:
'We all know that the vast majority of our debt is "friendly" i.e owed to the current directors.''
If the 40m figure is correct -and it seems not improbable - then it is not true that the ''vast majority'' of that is so-called friendly debt, is it?
The £40m isn't on record anywhere, my understanding from a recent FF meeting, that most of the debt is director debt (about 80%) the rest is a long term debt on the stadium, so I'm wondering where the additional £20m has come from for the mail to report on?0 -
[quote][cite]Posted By: nigel w[/cite]'Clem reckoned:
'We all know that the vast majority of our debt is "friendly" i.e owed to the current directors.''
If the 40m figure is correct -and it seems not improbable - then it is not true that the ''vast majority'' of that is so-called friendly debt, is it?[/quote]
If the 40m is true.........very big if that.0 -
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[quote][cite]Posted By: adamtheaddick[/cite][img][url]http://www.ruderfinn.co.uk/blogs/dotcom/files/2009/06/enviromental-head-in-the-sand.jpg[/url][/img][/quote]
Don't know (or care) whether this head in the sand stuff is aimed at me.
According to the Mail we have suddenly acquired a staggeringly high level debt, which dwarfs anything which anyone believed the level to be.
Clearly, we have been employing accountants with mafia experience who have covered all this up. 40m is not documented anywhere and the board are on record as saying 80% of the debt is owed to them.
It appears that some are hard-wired into believing that the club are liars and the press are the deliverers of truths.0 -
What happens if the friendly debt becomes unfriendly? I think current members of the board have their own interests front and centre.0
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wernt at you mate just gona take the advice and stay out of any takeover stuff and just wait for wycombe.. ive got enough crap going on to be getting worked up about this mularky..0
