can't see this anywhere else.
from slp...
http://www.southlondon-today.co.uk/Sport.cfm?id=39631&headline=CharltonCharlton takeover talks are close to an agreement
Wednesday, 20 November 2013
By Toby Porter
CHARLTON are in advanced talks with a multi-million pound British property company over the sale of the Championship club, the South London Press understands.
Sources close to the Addicks have revealed that an investment company is on the verge of completing the deal to take total control of the Championship club.
The purchase figure is unlikely to be revealed during the process.
The South London Press understands that representatives of the buyer visited The Valley and Charlton’s Sparrows Lane training ground this week and have completed their due diligence.
One of the factors that has made the club an attractive proposition is its low level of debt – it owes just £4million to banks, a reduction from the £7m owed when the club was taken over by Michael Slater and Tony Jimenez on December 31, 2010.
Another £7m is owed to former directors such as Richard Murray, but none of this is payable until the club is back in the Premier League.
Another crucial aspect has been the club’s performance in recent seasons. Under Chris Powell, Charlton had the sixth highest budget in League One, but were runaway champions in 2012.
And last season they finished ninth in the Championship despite having only the 17th highest budget in the division.
If the takeover does go ahead, the new owners are likely to give Powell a kitty to bring in loan players during the January transfer window. But they are likely to prefer to invest in player purchases next summer, rather than this winter, after there has been time to properly research Powell’s new targets under an increased budget.
Charlton will have been back at The Valley for 21 years next month. A campaign to return the club to its first permanent home won 15,000 votes in the 1990 local council elections, after Greenwich politicians had rejected planning permission for a revamp. The ground had been deemed unsafe and the Addicks were forced into the first ever Football League groundshare, at Crystal Palace’s Selhurst Park, from 1988.
The club celebrates its centenary at The Valley in 2019.
Slater, who it is believed will remain on the board during a three-month handover period, said: "I am unable to comment on this matter."
Comments
Wow, what a pair of scumbags....
Think it the debt to the bank for the north stand had to by £1m a year, but others could probably confirm that
the other debt not mentioned would have grown one assumes
Really not sure where all this is going....
Not indication where the 16m losses sit as debt though.
British hey. Not very glamourous compared to arabs or yanks : - )
Not sure how the 'Charlton have been back at The Valley 21 years next month' fits into it.
I just hope the price is right now
There's a reason our holding company is called baton!
wonder if the delay to ACV is something to do with this, surely not
Just tweeted by Richard Cawley of the South London Press
three, 50, loads?
Could this be a reason for Greenwich Council to be dragging their heels over the community asset malarky?