I assume that the £40M is the figure to be paid to RD, there is still the £7M to be paid to the ex-directors, which makes the asking price £47M. I know that the directors £7M can be deferred, but it has to be paid at some time.
Not absolutely true, for the same reason it hasn't been paid to date, although the ex-directors could get (more) difficult over leases to people like franchisees. It's also likely to be bought out for less than £7m, if paid before strictly necessary under the terms.
There are at least 3 Ex Directors that will never negotiate their Loans or allow Leases until they are repaid in full.And until now, from what we understand, only one buyer has approached them and has known their position for quite some time.
Just a note on this comment of April 9th,this issue of Ex Directors Loans has never been addressed by Aussies, and never by Roland , so if they are a group of Investors and some or all require funding then that I suggest is the hold up, as they would want Charges removed and someone has to pay.
Or just carry them over, as Airman has suggested could be the case?
Only if they don't need to borrow against the assets of the club and are prepared to except unsecured loans, and they will be unable to lease any property to third parties. I suggest this has been a stumbling block for all buyers as Roland unwilling to pay off these debts and buyers don't want to pay the extra £7mn .
I still don’t see that the loan holders are in any stronger position before or after a deal to leverage their position. These conditions apply now and have applied since 2010. Borrowing against the assets is likely to be limited in any event and the club had at least in some cases got round the third party leases by not bothering to formalise them.
It’s also the case that the loan holders are divided among themselves - particularly in relation to Murray - so it’s not a straightforward “£7m now or no deal” and never has been.
Then why has deal not been done? Its a fact that two groups negotiating wanted those Loans cleared,maybe because they had Peninsular ambitions,maybe because their Banks wanted first charge. Roland bought Club with no idea about Charges, Slater and Co bought while First Charge was owned by Banks and Directors Loans were second Charge and combined Debt was what £16mn? So position now very different and buyers require clean title, why has no one completed a deal in a year?
In fact the position was worse in 2010 when the banks had first charge, as you set out. Does the club really care if the ex-directors block leases for CACT, the museum, etc? Would they want to do that themselves, anyway? Outsourced activities can be brought back in house - with no leases.
I’d suggest that ultimately the issue has always been that Duchatelet wants more than the club is reasonably worth - everything else is detail, including the loans. Meanwhile, he keeps digging his hole and loses more and more money.
Murray and others are very confident a deal will be done shortly. I don’t see there is anything useful anyone else can do at his point but wait for the season to finish, because at that point the club will either be sold or it will become clear that it won’t be in the near future by virtue of key appointments.
I assume that the £40M is the figure to be paid to RD, there is still the £7M to be paid to the ex-directors, which makes the asking price £47M. I know that the directors £7M can be deferred, but it has to be paid at some time.
Not absolutely true, for the same reason it hasn't been paid to date, although the ex-directors could get (more) difficult over leases to people like franchisees. It's also likely to be bought out for less than £7m, if paid before strictly necessary under the terms.
There are at least 3 Ex Directors that will never negotiate their Loans or allow Leases until they are repaid in full.And until now, from what we understand, only one buyer has approached them and has known their position for quite some time.
Just a note on this comment of April 9th,this issue of Ex Directors Loans has never been addressed by Aussies, and never by Roland , so if they are a group of Investors and some or all require funding then that I suggest is the hold up, as they would want Charges removed and someone has to pay.
Or just carry them over, as Airman has suggested could be the case?
Only if they don't need to borrow against the assets of the club and are prepared to except unsecured loans, and they will be unable to lease any property to third parties. I suggest this has been a stumbling block for all buyers as Roland unwilling to pay off these debts and buyers don't want to pay the extra £7mn .
I still don’t see that the loan holders are in any stronger position before or after a deal to leverage their position. These conditions apply now and have applied since 2010. Borrowing against the assets is likely to be limited in any event and the club had at least in some cases got round the third party leases by not bothering to formalise them.
It’s also the case that the loan holders are divided among themselves - particularly in relation to Murray - so it’s not a straightforward “£7m now or no deal” and never has been.
Then why has deal not been done? Its a fact that two groups negotiating wanted those Loans cleared,maybe because they had Peninsular ambitions,maybe because their Banks wanted first charge. Roland bought Club with no idea about Charges, Slater and Co bought while First Charge was owned by Banks and Directors Loans were second Charge and combined Debt was what £16mn? So position now very different and buyers require clean title, why has no one completed a deal in a year?
In fact the position was worse in 2010 when the banks had first charge, as you set out. Does the club really care if the ex-directors block leases for CACT, the museum, etc? Would they want to do that themselves, anyway? Outsourced activities can be brought back in house - with no leases.
I’d suggest that ultimately the issue has always been that Duchatelet wants more than the club is reasonably worth - everything else is detail, including the loans. Meanwhile, he keeps digging his hole and loses more and more money.
Murray and others are very confident a deal will be done shortly. I don’t see there is anything useful anyone else can do at his point but wait for the season to finish, because at that point the club will either be sold or it will become clear that it won’t be in the near future by virtue of key appointments.
This is 100% the issue. Can speculate who is buying the club, when, and if the Aussies (if it was to be them) have had to try find the funding. But the bottom line is that Roland wanted to sell the club months ago, but not desperately enough to lower his stupid valuation.
We will no doubt see the end of him soon, but IF we were to get promotion, I can still see it dragging over the summer with Roland seeing as that as a way to add valuation onto the club.
Is there any chance that the takeover failed and it was agreed not to reveal this information as the fan's reaction could harm a push for the play-offs.
I've wondered that too.
I don't think the hierarchy necessarily give a toss about the play-offs they just want (ed) to avoid protests.
I think the news yesterday that “papers” have been submitted to the EFL is accurate. On that basis I would expect the takeover to go through as soon as that process is complete. No idea how long that might take ?
On the Charlton Athletic Holdings Companies House page, there are only 7 outstanding registered charges left (almost certainly the former director loans), with 22 registered charges now satisfied.
Bloody hell...even relegation threatened, Division 4, Morecambe can get a takeover sorted out...not too sure what the new owners - Bong Group - do, but I’m not gonna blow smoke on em!!
I assume that the £40M is the figure to be paid to RD, there is still the £7M to be paid to the ex-directors, which makes the asking price £47M. I know that the directors £7M can be deferred, but it has to be paid at some time.
Not absolutely true, for the same reason it hasn't been paid to date, although the ex-directors could get (more) difficult over leases to people like franchisees. It's also likely to be bought out for less than £7m, if paid before strictly necessary under the terms.
There are at least 3 Ex Directors that will never negotiate their Loans or allow Leases until they are repaid in full.And until now, from what we understand, only one buyer has approached them and has known their position for quite some time.
Just a note on this comment of April 9th,this issue of Ex Directors Loans has never been addressed by Aussies, and never by Roland , so if they are a group of Investors and some or all require funding then that I suggest is the hold up, as they would want Charges removed and someone has to pay.
Or just carry them over, as Airman has suggested could be the case?
Only if they don't need to borrow against the assets of the club and are prepared to except unsecured loans, and they will be unable to lease any property to third parties. I suggest this has been a stumbling block for all buyers as Roland unwilling to pay off these debts and buyers don't want to pay the extra £7mn .
I still don’t see that the loan holders are in any stronger position before or after a deal to leverage their position. These conditions apply now and have applied since 2010. Borrowing against the assets is likely to be limited in any event and the club had at least in some cases got round the third party leases by not bothering to formalise them.
It’s also the case that the loan holders are divided among themselves - particularly in relation to Murray - so it’s not a straightforward “£7m now or no deal” and never has been.
Then why has deal not been done? Its a fact that two groups negotiating wanted those Loans cleared,maybe because they had Peninsular ambitions,maybe because their Banks wanted first charge. Roland bought Club with no idea about Charges, Slater and Co bought while First Charge was owned by Banks and Directors Loans were second Charge and combined Debt was what £16mn? So position now very different and buyers require clean title, why has no one completed a deal in a year?
In fact the position was worse in 2010 when the banks had first charge, as you set out. Does the club really care if the ex-directors block leases for CACT, the museum, etc? Would they want to do that themselves, anyway? Outsourced activities can be brought back in house - with no leases.
I’d suggest that ultimately the issue has always been that Duchatelet wants more than the club is reasonably worth - everything else is detail, including the loans. Meanwhile, he keeps digging his hole and loses more and more money.
Murray and others are very confident a deal will be done shortly. I don’t see there is anything useful anyone else can do at his point but wait for the season to finish, because at that point the club will either be sold or it will become clear that it won’t be in the near future by virtue of key appointments.
This is 100% the issue. Can speculate who is buying the club, when, and if the Aussies (if it was to be them) have had to try find the funding. But the bottom line is that Roland wanted to sell the club months ago, but not desperately enough to lower his stupid valuation.
We will no doubt see the end of him soon, but IF we were to get promotion, I can still see it dragging over the summer with Roland seeing as that as a way to add valuation onto the club.
I was wondering exactly the same thing. Maybe he wants to wait to see if we'll get promoted now that we're almost in the playoffs.
Bloody hell...even relegation threatened, Division 4, Morecambe can get a takeover sorted out...not too sure what the new owners - Bong Group - do, but I’m not gonna blow smoke on em!!
Announced now that they know which division they are in next season.
They can still get relegated...and probably will. Barnet are at home to already relegated Chesterfield and Morcambe have got Coventry away - who may need points to make the play offs.
Bloody hell...even relegation threatened, Division 4, Morecambe can get a takeover sorted out...not too sure what the new owners - Bong Group - do, but I’m not gonna blow smoke on em!!
I still don't understand what will happen to the dept(s) that has been carried over for the last few owners?
Can someone please explain in really simple terms?
Tyia
They stay exactly where they are unless cash from somewhere is used to repay them or they are written off by the creditors. Nothing changes purely as a result of a different person controlling a majority of shares - the debt is owed by the company, not the owner.
I still don't understand what will happen to the dept(s) that has been carried over for the last few owners?
Can someone please explain in really simple terms?
Tyia
They stay exactly where they are unless cash from somewhere is used to repay them or they are written off by the creditors. Nothing changes purely as a result of a different person controlling a majority of shares - the debt is owed by the company, not the owner.
the company owes the money, but the director who sold (and lent the money) is still owed the debt. Which is why roland is basically using the club as a racket.
Bloody hell...even relegation threatened, Division 4, Morecambe can get a takeover sorted out...not too sure what the new owners - Bong Group - do, but I’m not gonna blow smoke on em!!
Comments
I’d suggest that ultimately the issue has always been that Duchatelet wants more than the club is reasonably worth - everything else is detail, including the loans. Meanwhile, he keeps digging his hole and loses more and more money.
Murray and others are very confident a deal will be done shortly. I don’t see there is anything useful anyone else can do at his point but wait for the season to finish, because at that point the club will either be sold or it will become clear that it won’t be in the near future by virtue of key appointments.
We will no doubt see the end of him soon, but IF we were to get promotion, I can still see it dragging over the summer with Roland seeing as that as a way to add valuation onto the club.
Minge tu Rodney, minge tu.
God help us.
Just sell the club and FUCK OFF
And still nothing happening !!
Just sell up and F#CK OFF !!
https://www.google.co.uk/search?q=league+2+table&oq=league&aqs=chrome.3.69i57j6j0l4.5655j0j8&sourceid=chrome&ie=UTF-8#sie=lg;/g/11c718cpq8;2;/m/0355r8;st;fp;1
If Morcambe lose and Barnet win their final fixtures Morcambe go down.
Can someone please explain in really simple terms?
Tyia
How do you even do that?
Just sell the club and FUCK OFF
Get it right