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Paul Elliott (The other one) has taken the club to court
ProperCharlton
Posts: 2,254
Just seen this on The Times website. Apologies if it's been posted already:
https://www.thetimes.com/sport/football/article/charlton-athletic-taken-to-high-court-over-alleged-500k-unpaid-debt-t9cmdr0jg
https://www.thetimes.com/sport/football/article/charlton-athletic-taken-to-high-court-over-alleged-500k-unpaid-debt-t9cmdr0jg
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The other Paul Elliott.0
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Well that's Leaburns transfer fee spent.0
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For those without access:
Charlton Athletic are being taken to the High Court over an alleged £500,000 debt owed to Paul Elliott, a Manchester-based businessman who attempted to buy the southeast London club in 2020.
The claim, filed on November 29, alleges that Elliott lent the club the sum after agreeing to purchase Charlton from the majority shareholder at the time, East Street Investments (ESI). The loan is said to have subsidised running costs, such as player and staff wages, to avoid the club going into administration and receiving a points deduction that would guarantee their relegation to League One.
The new claim is central to one of the most chaotic and controversial periods in Charlton’s history. After six miserable years under the ownership of the Belgian businessman Roland Duchâtelet, the club were sold to ESI in November 2019. However, just a few months later, the Abu Dhabi-based majority shareholder, Tahnoon Nimer, fell out spectacularly with the chairman, Matthew Southall.
Nimer publicly accused Southall, a former football agent, of using club money to fund a lavish lifestyle, including leasing expensive flats and purchasing a fleet of luxury cars, and said he was withdrawing his financial backing. Southall denied the accusations and claimed Nimer had failed to invest “a single penny of the promised funds” after their takeover was completed.
A consortium led by Elliott subsequently agreed to purchase the club from ESI — a civil court hearing later revealed the fee was just £1 — at the height of the pandemic, when the club’s financial situation was extremely precarious. The club were relegated to League One and there were genuine fears they might collapse. The alleged £500,000 loan is said to have staved off that threat.
However, after Elliott’s consortium failed the EFL’s owners’ and directors’ test, the Danish entrepreneur Thomas Sandgaard acquired the club from ESI in September 2020. Sandgaard claimed the following month that: “Since December or January no money has been put into the club. It was basically running with money from the EFL and some sponsorship money.”
That statement appeared to contradict Elliott’s claim that he had invested £500,000, which will now be challenged in the High Court. It is understood the club had previously acknowledged the loan in correspondence but that an offer to reimburse Elliott was never made.
Charlton were sold again in 2023 to SE7 Partners. The club said they were aware of the claim, which they stressed was related to the previous ownership, and have now referred it to their lawyers.5 -
To clarify, this is Paul Elliott, the low-life no-mark who supposedly bought us, not Paul Elliott OBE, CBE, DVD, DIY, our current non-exec director.
You're welcome12 -
Not the Chuckle Brother then?carly burn said:The other Paul Elliott.1 -
Saw this on twitter and thought it meant the one here0
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IIRC Sandgaard looked for this alleged debt and couldn't find any evidence of it?3
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Either it's a credit on the company bank statement or it isn't, no? Shouldn't be hard to verify.2
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And with a takeover since surely would have appeared in due diligence.5
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Even if Elliot the crook wins the case, which is unlikely IMHO, I would expect that TS is still liable under the terms of the takeover by GFP/SE74
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Didn't Elliotttttt subsequently sell the debt on to the Welsh dentist?9
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So many chancers.11
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"The club were relegated to League One and there were genuine fears they might collapse."
The defence and midfield have been doing that on a fairly regular basis for a number of years.16 -
Pedro45 said:Didn't Elliotttttt subsequently sell the debt on to the Welsh dentist?
Ha, had forgotten all about this weird time.3 -
Exactly. Such a sum wouldn't go unnoticed.Ferryman said:And with a takeover since surely would have appeared in due diligence.
And why has this only come up 4.5 years later?0 -
Do you remember that weird-arse TV show from the '90s, Twin Peaks?Athletico Charlton said:Pedro45 said:Didn't Elliotttttt subsequently sell the debt on to the Welsh dentist?
Ha, had forgotten all about this weird time.
This is the football equivalent: Twin Depths.6 -
Notoriously difficult getting shit out of a blanket. So many stains and defecations on our wonderful football club.4
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Can someone post when this court case is being heard? I am quite prepared to go up to Holborn and give him dogs abuse, in court or out.ProperCharlton said:For those without access:
Charlton Athletic are being taken to the High Court over an alleged £500,000 debt owed to Paul Elliott, a Manchester-based businessman who attempted to buy the southeast London club in 2020.
The claim, filed on November 29, alleges that Elliott lent the club the sum after agreeing to purchase Charlton from the majority shareholder at the time, East Street Investments (ESI). The loan is said to have subsidised running costs, such as player and staff wages, to avoid the club going into administration and receiving a points deduction that would guarantee their relegation to League One.
The new claim is central to one of the most chaotic and controversial periods in Charlton’s history. After six miserable years under the ownership of the Belgian businessman Roland Duchâtelet, the club were sold to ESI in November 2019. However, just a few months later, the Abu Dhabi-based majority shareholder, Tahnoon Nimer, fell out spectacularly with the chairman, Matthew Southall.
Nimer publicly accused Southall, a former football agent, of using club money to fund a lavish lifestyle, including leasing expensive flats and purchasing a fleet of luxury cars, and said he was withdrawing his financial backing. Southall denied the accusations and claimed Nimer had failed to invest “a single penny of the promised funds” after their takeover was completed.
A consortium led by Elliott subsequently agreed to purchase the club from ESI — a civil court hearing later revealed the fee was just £1 — at the height of the pandemic, when the club’s financial situation was extremely precarious. The club were relegated to League One and there were genuine fears they might collapse. The alleged £500,000 loan is said to have staved off that threat.
However, after Elliott’s consortium failed the EFL’s owners’ and directors’ test, the Danish entrepreneur Thomas Sandgaard acquired the club from ESI in September 2020. Sandgaard claimed the following month that: “Since December or January no money has been put into the club. It was basically running with money from the EFL and some sponsorship money.”
That statement appeared to contradict Elliott’s claim that he had invested £500,000, which will now be challenged in the High Court. It is understood the club had previously acknowledged the loan in correspondence but that an offer to reimburse Elliott was never made.
Charlton were sold again in 2023 to SE7 Partners. The club said they were aware of the claim, which they stressed was related to the previous ownership, and have now referred it to their lawyers.
Did the club never take legal action over the six Range Rovers and riverside flat?4 -
Who would have thought 'good egg' Elliott would still be chasing us. Maybe all the supporters who kept saying during his spell 'in charge' that we should be grateful for him paying the wages and see how things go, should pay his court fees!5
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I think he's got a good chance of winning his case. After all, who here hasn't loaned half a million quid to a company worth one pound?32
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They could just agree to gift him the ACA Partnership 10%. Two birds, one stone. 🤣2
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Thanks for posting the text version, ProperCharlton. I couldn't access the original. It did amuse me though that there was a big button in the middle of the screen saying, 'Start Trial'. I'd like to start a trial, for Paul Elliott.5
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https://medium.com/@benjynurick/standoff-in-the-boardroom-the-inside-story-of-a-dramatic-night-in-the-history-of-charlton-athletic-4f175182eefa
This is worth a read, just to remind us where we were in this whole sorry saga. For all his faults at the time and in hindsight (too many to mention) Sandgaard was a saviour, but no hero compared to the people mentioned in the article.
I wonder if the video of the evening still exists, and will one day make it into the public domain.5 -
Love how this needs to be dusted off every now and then!PragueAddick said:To clarify, this is Paul Elliott, the low-life no-mark who supposedly bought us, not Paul Elliott OBE, CBE, DVD, DIY, our current non-exec director.
You're welcome1 -
I thought at the time Elliott declared it as a payment & not a loan due to some EFL regulations.
I mean, surely a solicitor registered & regulated by the SRA wouldn't be telling pokies would he ?
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I thought the whole thing was null and void as the silly twunts didn't even put the single £1 in and that's the technicality that got Sandgaard in, in the first place?4
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The duchatalet years now seem like nirvanah1
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Wonder if our old mate Chris Farnell will be representing him?5
