On the other side of this, giving ESI a chance seems to be our only option. I think we should be deeply concerned though.
This is basically where I sit with it. I am concerned, but I wonder if the years of lies and half truths have made me more paranoid than I would be usually. I am doing my best to give them the benefit of the doubt at this point and will wait and see what transpires.
I wonder how keen ESI will be to follow through with their commitment to purchase the Valley and the training ground by June/July, if we find ourselves back in League One, and without Bowyer?
We have to hope that doesn't happen. Apparently Bowyer is close to signing and relegation is certainly not a certainty. I will feel easier when a few come in though.
this is the biggest problem people poking their noses where it’s not needed
If people stop looking for negative news stories to break to feel important you will all feel better in the long run
disagree. this is a fundamental question. first he says they bought The Valley with Sparrows Lane to follow. now he says that currently they have bought neither. if that doesn't bother you then fine but it sure as hell bothers me.
Finding all that out in the first 2 months is important why
There’s bitterness and trouble making a foot
fall for it at your peril
Well shall we just believe everything our new owners say without question even when we find they are not telling us the truth?
When we have a new chairman and one of the first things he does is paint chairman in a parking space when to my mind their are more important matters(like sorting the pot holes) seems very “weird” to me.
Dont really feel like a parking space is the issue here
I wonder how keen ESI will be to follow through with their commitment to purchase the Valley and the training ground by June/July, if we find ourselves back in League One, and without Bowyer?
According to Southall it is a contractual commitment - so that could be interesting.
Roland said on TalkSport, he would give the club away providing the new owners brought The Valley & the training ground, so how much did ESI pay Roland?
Roland said on TalkSport, he would give the club away providing the new owners brought The Valley & the training ground, so how much did ESI pay Roland?
Did we get an answer to the tweet someone sent MS last night. Thought not.
He can tweet & retweet all the bollox he likes about meeting this person & that person, but the important stuff........nah, he's not interested.
I do not do twitter, are you able to show the exchange please?
There was no exchange. I sent a tweet to Matt Southall (as did Davo55) asking for clarification re The Valley. We've not had a reply (which is hardly surprising).
He has now tweeted CAST's interview with him and a number of people have asked him to clarify.
Adult Charlton fans asking the important question after the CAST interview revealed an anomaly in Matt Southall's statement that CSI owned Cafc: Lock, stock and Barrel.
Good question Ladies and gentlemen and it doesn't mean you are incontinent during the night.
It looks to me as if there is an effective mortgage to Staprix, which incorporates the old directors' loans as a 'permitted encumbrance,' for all the Club property ie The Valley, the training ground and other odds and sods. All the property is described as 'leasehold' so it seems as if Roland (via Staprix ultimately presumably) remains as the freeholder. Charlton Athletic Holdings Ltd still shows Duchatelet as having 75% or more significant control which would add credence to that theory.
What it is hard to tell, although I only skimmed it, is which entity now has legal title over the club 'leasehold property'. Anyone with access to land registry?
I understood that the whole 'ownership issue' was made clear to the chosen few at the meeting with Chairman Southall .. or is that not the complete picture ?
Didn’t think it was, as if the club went under, The Valley would also go. Thought it was Barton, can someone confirm?
The holding company own the land. Judging by the assets listed against the charge on the football club, the football club own everything bar the pitch and the stands. Roland now has a charge over the sky box, Bartram's, crossbars, the warehouse etc.
No one “owns” land, you “hold” it. All you own is moveable assets.
Clue is in freeHOLD and leaseHOLD. All that matters is the terms of your lease, the rent and who is liable for maintenance. Leasehold carries simiilar risks as a freeholder with a mortgage. Does anyone with a mortgage on their house regard the bank as the “owner”?
CAFC tenure with the lease property mortgaged is secure given a default on repayments risking eviction is a non issue if the loan is backed by a wealthy guarantor rather than reliant on club revenue..
Comments
He can tweet & retweet all the bollox he likes about meeting this person & that person, but the important stuff........nah, he's not interested.
We've not had a reply (which is hardly surprising).
He has now tweeted CAST's interview with him and a number of people have asked him to clarify.
Good question Ladies and gentlemen and it doesn't mean you are incontinent during the night.
"Mr Southall, please confirm Mr Duchatelet owns the freehold of The Valley as of the 24th January 2020".
Pitch and stands / car park
https://beta.companieshouse.gov.uk/company/01788466/filing-history/MzI1NTQ4OTMxOGFkaXF6a2N4/document?format=pdf&download=0
What it is hard to tell, although I only skimmed it, is which entity now has legal title over the club 'leasehold property'. Anyone with access to land registry?
It appears ESI have bought CAFC, but not yet CA Holdings (which owns the freehold properties).
It also appears there's an agreement to buy CA Holdings during the Summer.
Clue is in freeHOLD and leaseHOLD. All that matters is the terms of your lease, the rent and who is liable for maintenance. Leasehold carries simiilar risks as a freeholder with a mortgage. Does anyone with a mortgage on their house regard the bank as the “owner”?
So then, who owns what?