Charlton shirt of a sponsor?Sep 25 2007
By Rob Kelly
CHARLTON could be in line for more sponsor problems after it emerged that Spanish property group Llanera are facing bankruptcy.
The Addicks signed a four-and-a-half-year, £6.6million sponsorship deal with the Valencia-based group in December 2005.
But that contract could be under threat amid reports that Llanera are locked in talks with creditors on restructuring £210million of debt.
Previous Charlton sponsors, all:sports, went into administration in September 2005 in the middle of their £3million shirt deal.
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Comments
Llanera: We'll give you 5 million
Charlton: Cheers
*hands shook*
What no contracts signed? no cancellation clauses?
You work in marketing so you know that's how sponsorship deals are tied up just like any other multi-million £ deal.
I blame Andrew Mills for not predicting the collapse of the Spanish property market.
They need something like €150m to cover 2007 and 2008 prokects, and their two main creditors, Bancaja and CAM, aren't giving further finance, so they are looking outside the region. Its trying to raise funds by selling land, floorplans, and properties.
It has also closed its offices in London and Madrid, stopped developments and plans for national and international expansion, and crucially has cancelled all sponsorships.
I think we're unlikely to see a further penny.
http://www.charltonlife.com/forum/comments.php?DiscussionID=10908&page=1#Item_7
.... actually WSS deserves some plaudits for alerting us about 6 weeks ago:
http://www.charltonlife.com/forum/comments.php?DiscussionID=9683&page=1#Item_21
... and now Llanera try to calm speculation:
http://today.reuters.com/news/articleinvesting.aspx?type=etfNews&storyID=2007-09-24T131513Z_01_L24561314_RTRIDST_0_LLANERA-DEBTS.XML
Its the fan that one that free apartment (to be build in 2010) that i feel most sorry for. Don't say this very often, but Off It was right...... :-)
http://www.charltonlife.com/forum/comments.php?DiscussionID=5270
Careful. Remember what happened to the Sheff Wed fans.
*rings Richard Murray with scheme for shuting up internet moaners* ;-)
Slandering an ex-employee now. It's all going to the lawyers you know.
And as for people who call me a fat ginge, they are going to pay ; - 0
Llanera will continue to have problems long-term however. Most of their assets are land that hasn't been built on yet. Where the Spanish property boom is running out of steam, they will struggle to sell this land on to developers at the level they hoped, particularly as banks are reducing what they lend to real estate developers, and the current global credit squeeze is making it even harder to raise debt.
new training ground;-)
And then its goodbye Llanera
and hello Setanta
That's SIR-TARN-TA, says the annoying bird on the radio adverts.
No love, once we get our grips into you, it will be BANK-RUPT-TA
Feel sorry for the people there
dood she is hot tho!
Thats good news I guess.
Don't worry I've heard Steve Sutherland has lined up Northern Rock as replacements.
Henry, nice way for the club to keep getting a bit or revenue out of us ;-)
What would be lovely is if people were allowed to swap the old ones for the new ones.................oh we did that, but only if you bought the old one on a Friday at 2.04pm & never wore it or washed it ;-)
My shirt buying days are well & truly over.
There will be two new shirts next season regardless of sponsorship.
Henry, nice way for the club to keep getting a bit or revenue out of us ;-)
What would be lovely is if people were allowed to swap the old ones for the new ones.................oh we did that, but only if you bought the old one on a Friday at 2.04pm & never wore it or washed it ;-)
My shirt buying days are well & truly over.[/quote]
Hardly the club's fault Ebenezer.. ;-)
http://www.cafc.co.uk/newsview.ink?nid=31320&newstype=n
annoying typo as well.
where have i been moaning ???
All i was doing was informing on what i knew, which was that they were restructing significant debts with Lehmans and other creditors, whilst closing offices, including London.
i've took a big chomp, haven't i ?? :-)