Who owns the Valley? - The Ownership Thread
Comments
-
I'm still convinced the strange bit was the new lot coming in and taking control, giving LB promises etc, long before the take over was finalised.oohaahmortimer said:Maybe the “strange” bit is ESI not owning the ground and The Helmet still having ownership of it whilst renting it to them and a cheaper deal being met .
and maybe not .....
Re' The Valley - If the price was £60m, what would that include if it weren't the bricks and mortar, cos it certainly can't have been good will.
I also think we need to have a bit more trust in TN and the people around him, after all, there are people who trust them with their fortunes, if His portfolio is anything to go by.
0 -
I doubt we will ever know.Athletico Charlton said:
Very true but in this instance on an asking price of £50m would the Abu Dhabis have really gifted Matt Southall 25% or £12.5M. seems very generous. Plus what happens with ongoing costs - he would not be able to afford these so does the other shareholder keep throwing 100% of the money in for 75% of the ownership. Would be super odd and unusual.Covered End said:You don't have to pay 25% of the consideration or value to own 25%.
Time for a house analogy.
I could gift my house to my grown up kids (for nothing) & they would still be the owners.1 -
My company law is little rusty these days but it depends what the M&AA says about share ownership and transfer thereof. In other words whilst 25% of the shares are in the name of MS they are of no value to him as it is highly likely that ESI being a private limited company, they are non transferable so he can't do anything with them especially as he does not have a controlling interest.Athletico Charlton said:
Very true but in this instance on an asking price of £50m would the Abu Dhabis have really gifted Matt Southall 25% or £12.5M. seems very generous. Plus what happens with ongoing costs - he would not be able to afford these so does the other shareholder keep throwing 100% of the money in for 75% of the ownership. Would be super odd and unusual.Covered End said:You don't have to pay 25% of the consideration or value to own 25%.
Time for a house analogy.
I could gift my house to my grown up kids (for nothing) & they would still be the owners.6 -
Wasn't some shares issued last week for about £21m? Maybe that is related to what Baton owes Roland?
I highly doubt Roland has managed to sell the club for circa £50m and managed to keep hold of the ground as well0 -
P 2063 of this thread - November 2019More
So a little more on ESI's deal for Charlton. They will own The Valley and the training ground. Process of getting EFL approval for their takeover is already underway. Steve Gallen would not be on new board - neither would Richard Murray. Gallen continues as head of recruitment.
So the process of acquisition I suspect is multi phased probably for very good reason.
1. The purchase of The Valley and the Training Ground will have been dependent on the EFL sanction of the club purchase. It was announced two days ago.
2. The purchase of The Valley and the Training Ground may well, if not likely, include clear title.
3. The Valley and the Training Ground are subject to I believe 7 ex director liens. To secure clear title the debts secured by such liens would have to have been satisfied.
It is likely the clearance of such debts was dependent on the EFL sanction of two days ago.4. The development of the training ground involved sundry associated, I assume, legal commitments to other parties either adjacent to or using the site.
Any transfer of such liabilities will likely have been subject to EFL sanction of the club purchase.
It is all perfectly manageable but I will leave you to determine the number of legal contracts and associated documents likely to needed to resolve the above issues all before the actual contract of sale and purchase of the assets is completed contemporaneously.
That is not to mention if the existing companies are being used the need to register new owners and new directors and the removal of any former directors.
There were indications of an exchange of contracts today.
If so, any financial sums due under such contracts will need to have been released, received and ratified by close of business today - all before any change of ownership or status can be registered.
I have no idea of the current time lines for either Companies House or the Land Registry.
Now it is possible Mr Cawley was misinformed or simply got it wrong but any concerns at this stage are more than a little premature.
No doubt ESI will release a statement when they receive the due confirmation from the regulatory authorities.
9 -
Yeah. But who owns the Valley?Grapevine49 said:P 2063 of this thread - November 2019MoreSo a little more on ESI's deal for Charlton. They will own The Valley and the training ground. Process of getting EFL approval for their takeover is already underway. Steve Gallen would not be on new board - neither would Richard Murray. Gallen continues as head of recruitment.
So the process of acquisition I suspect is multi phased probably for very good reason.
1. The purchase of The Valley and the Training Ground will have been dependent on the EFL sanction of the club purchase. It was announced two days ago.
2. The purchase of The Valley and the Training Ground may well, if not likely, include clear title.
3. The Valley and the Training Ground are subject to I believe 7 ex director liens. To secure clear title the debts secured by such liens would have to have been satisfied.
It is likely the clearance of such debts was dependent on the EFL sanction of two days ago.4. The development of the training ground involved sundry associated, I assume, legal commitments to other parties either adjacent to or using the site.
Any transfer of such liabilities will likely have been subject to EFL sanction of the club purchase.
It is all perfectly manageable but I will leave you to determine the number of legal contracts and associated documents likely to needed to resolve the above issues all before the actual contract of sale and purchase of the assets is completed contemporaneously.
That is not to mention if the existing companies are being used the need to register new owners and new directors and the removal of any former directors.
There were indications of an exchange of contracts today.
If so, any financial sums due under such contracts will need to have been released, received and ratified by close of business today - all before any change of ownership or status can be registered.
I have no idea of the current time lines for either Companies House or the Land Registry.
Now it is possible Mr Cawley was misinformed or simply got it wrong but any concerns at this stage are more than a little premature.
No doubt ESI will release a statement when they receive the due confirmation from the regulatory authorities.
2 -
The opening paragraph puts our minds at rest mate.0
-
But that was their position on 29 November...ElfsborgAddick said:The opening paragraph puts our minds at rest mate.
0 -
I was going to say the something similar. They’ve given him an ownership stake, but it’s essentially worthless until the sell the club. It’s a promise that if this is a success, and they eventually sell, he’ll get 25% of the profit, or, if they want to replace him, they’ll probably need to buy back his 25% based on the value of the club at that time.RedChaser said:
My company law is little rusty these days but it depends what the M&AA says about share ownership and transfer thereof. In other words whilst 25% of the shares are in the name of MS they are of no value to him as it is highly likely that ESI being a private limited company, they are non transferable so he can't do anything with them especially as he does not have a controlling interest.Athletico Charlton said:
Very true but in this instance on an asking price of £50m would the Abu Dhabis have really gifted Matt Southall 25% or £12.5M. seems very generous. Plus what happens with ongoing costs - he would not be able to afford these so does the other shareholder keep throwing 100% of the money in for 75% of the ownership. Would be super odd and unusual.Covered End said:You don't have to pay 25% of the consideration or value to own 25%.
Time for a house analogy.
I could gift my house to my grown up kids (for nothing) & they would still be the owners.2 -
Best advice I can give is to reside yourself to that fact RD still owns the Ground and SL, then you won't be disappointed either way2
-
Sponsored links:
-
F*** that mate, a recipe for disaster.i_b_b_o_r_g said:Best advice I can give is to reside yourself to that fact RD still owns the Ground and SL, then you won't be disappointed either way0 -
I was only joking mate 😉ElfsborgAddick said:
F*** that mate, a recipe for disaster.i_b_b_o_r_g said:Best advice I can give is to reside yourself to that fact RD still owns the Ground and SL, then you won't be disappointed either way2 -
I suppose they can claim squatters’ rights as they played two gigs there in the 70s.3
-
Morning red should be recovered by tomorrow morning.RedChaser said:
Lol, just trying to put someone's mind at rest but failed miserably it seems. How's the head after your late night in another country 😉clb74 said:
If the new owners have payed 50 million and that doesn't include everything then they are mad.
If they've paid 60 million for everything they are mad
2 -
Land Registry records (£3 a pop to anyone via its website, look for the title deed) take a little while to update. You can register with Companies House and get free updates on companies you select, so you can be the first to know of any changes.2
-
Am now on the floor, not the ceilingi_b_b_o_r_g said:
I was only joking mate 😉ElfsborgAddick said:
F*** that mate, a recipe for disaster.i_b_b_o_r_g said:Best advice I can give is to reside yourself to that fact RD still owns the Ground and SL, then you won't be disappointed either way
1 -
There are problems with it. In my understanding of it if the company that owns the freehold is sold I’m not sure there would be any notification. Perhaps RBG should be asked/enlightened about the structure and thus be able to potentially act in the spirit of the Act, one could argue the structure being changed amounts to the same thing - seems unlikely they could/would do that however.2
-
Will be doing a collection before West Brom and I'll take a look.InspectorSands said:Land Registry records (£3 a pop to anyone via its website, look for the title deed) take a little while to update. You can register with Companies House and get free updates on companies you select, so you can be the first to know of any changes.1 -
RD still listed as Active owner, so reck9n the properties are both still his atm0
-
Do the new owners ESi need too spend money on the Valley?.0
-
Sponsored links:
-
Have you been to The Valley?Valley27000 said:Do the new owners ESi need too spend money on the Valley?.5 -
Before the takeover some fans said money needs to be spent on the stadium.Covered End said:
Have you been to The Valley?Valley27000 said:Do the new owners ESi need too spend money on the Valley?.1 -
So do you agree with them or have you been boycotting?Valley27000 said:
Before the takeover some fans said money needs to be spent on the stadium.Covered End said:
Have you been to The Valley?Valley27000 said:Do the new owners ESi need too spend money on the Valley?.0 -
Don't worry about him - he's 111 short of full capacity!RedChaser said:
So do you agree with them or have you been boycotting?Valley27000 said:
Before the takeover some fans said money needs to be spent on the stadium.Covered End said:
Have you been to The Valley?Valley27000 said:Do the new owners ESi need too spend money on the Valley?.18 -
Not since Burnley :-( Would like to know 100% that ESI own the Valley & SL & wouldn't/have the EFL issued a statement to confirm that they have approved the deal ?Covered End said:
Have you been to The Valley?Valley27000 said:Do the new owners ESi need too spend money on the Valley?.1 -
Back on the ceiling.i_b_b_o_r_g said:RD still listed as Active owner, so reck9n the properties are both still his atm0 -
How long till Valley27000 starts a thread informing us hourly how many tickets we have the sold for the first League game under the new owners next week?0
-
Very funny not.Chef_addick said:How long till Valley27000 starts a thread informing us hourly how many tickets we have the sold for the first League game under the new owners next week?0 -
So they’ve spent £50/60m on the club but don’t even own the stadium and training ground?i_b_b_o_r_g said:RD still listed as Active owner, so reck9n the properties are both still his atm
I reckon Companies House just hasn’t been updated yet.1 -
What is the source of that figure?Scoham said:
So they’ve spent £50/60m on the club but don’t even own the stadium and training ground?i_b_b_o_r_g said:RD still listed as Active owner, so reck9n the properties are both still his atm
I reckon Companies House just hasn’t been updated yet.1
