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So what's the news on Due Diligence?
Comments
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No worries mate. I think we all have some concerns, but after years of shit with the Belgian bloke I'm prepared to give this new lot a bit of leeway.cafc2020v2 said:
No I'm simply a fella who'is simply pissed off that we may be facing our third questionable owners in a row. I'm gutted that it's beginning to look like this might not work out with these new guys. I'm sick and tired of us fans being mugged off actually. And I apologise to all for the randomness of my posts. I do have an agenda and simply want to keep posts I feel are pertinent to my feelings up and around the top of the page. Apologies to you and any one else I've annoyed.Off_it said:someone's been drinking0 -
Yes.iainment said:
Everyone on here has an “agenda” or as it’s often called an opinion. Do they have to fit your entry criteria before being considered?Off_it said:
Well he joined two days ago, has made 20 posts and half of them have been negative about the owners.iainment said:
How many days/weeks/months/years until you think a poster’s views are ok to consider?IAgree said:
Oh give it a rest cafc2020v2 (or is it Brown? I notice you joined two days ago)cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
You have been on multiple threads mixing it on the same subjects - you don’t like LB or ESI and we are in danger of relegation - we get it now cease and desist please.
I may be wrong, but all the "evidence" seems to suggest he has an agenda.
You'll be pleased to know that you passed.
Just.2 -
Will do sir just for you:)IAgree said:
Oh give it a rest cafc2020v2 (or is it Brown? I notice you joined two days ago)cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
You have been on multiple threads mixing it on the same subjects - you don’t like LB or ESI and we are in danger of relegation - we get it now cease and desist please.0 -
So what you are saying is that the club is on trial to potential owners.eaststandmike said:
They have not “bought” the club though have they, they are just paying the monthly bills which suits Roland as that was the bit that pissed him off.Off_it said:
Why would they do that, having just bought the club? Might as well have just flushed x million down the khazi.cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
What an odd thing to say.
Roland still owns The Valley and Sparrows Lane so whilst ESI doing a runner would drag him back into paying the bills it’s not the end of the world.
ESI are “trying” before they “buy” a football club, remember Bowyers “strange” comment after he met Southall.0 -
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.0 -
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.4 -
Or to be told to calm down, grow up and stop shrieking by some self-appointed forum censor on the post match thread.cafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.4 -
Look if you enjoy slagging off all aspects of the club them bang out another 20 posts Brownycafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.1 -
The difference is that he is talking sense.cafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.2 -
Windy said:
Or to be told to calm down, grow up and stop shrieking but some self-appointed forum censor.cafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.
Personally I’m pissed off we lost four nil and get fed up of speculative and highly negative posts every time we lose.Windy said:
Or to be told to calm down, grow up and stop shrieking but some self-appointed forum censor.cafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.
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Browny who's he?IAgree said:
Look if you enjoy slagging off all aspects of the club them bang out another 20 posts Brownycafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.0 -
Proves you are just here on a windupcafc2020v2 said:
Hang on a minute what's my skin colour got to do with this?IAgree said:
Look if you enjoy slagging off all aspects of the club them bang out another 20 posts Brownycafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.0 -
I’m confused...0
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Oh dear, such a pity you got quoted before your edit.cafc2020v2 said:
Browny who's he?IAgree said:
Look if you enjoy slagging off all aspects of the club them bang out another 20 posts Brownycafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.0 -
I understand we as supporters,after all the shit we’ve been through, are inclined to worry but aren’t we overlooking some important facts here?
Tahnoon is a seriously wealthy and more importantly “respected” businessman. I highly doubt he’d be involved then act as a charlatan.The EFL would have needed proof of funds to rubber stamp the deal.ESI have already drafted plans for the training ground. These things don’t come cheap and I doubt it’s an expense a charlatan would fork out for if they was just “trying before buying”.
LB and JJ signed new contracts so would assume they are comfortable with things.All this adds a bit of perspective for me12 -
All that proves is having a bit of a twisted silly sense of humour then thought better of it. Any way. We will all see how this pans out. I love the club and everything about it except I'm really worried about this new ownership. The club the fans will survive I simply think we deserve a lot better and we should not be relying on how bad the ownership was with Roland to give this lot any leeway at all. We deserve the best.stonemuse said:
Oh dear, such a pity you got quoted before your edit.cafc2020v2 said:
Browny who's he?IAgree said:
Look if you enjoy slagging off all aspects of the club them bang out another 20 posts Brownycafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.0 -
Duchatalet is a seriously wealthy and respected businessman.
Just saying.
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I do understand. Same on every football forum. If we win posters get carried away (turned a corner, comfortable mid-table etc.) and if we lose, lots of overly negative stuff. If I'm feeling a bit low I tend to steer clear of CL after a loss.IAgree said:Windy said:
Or to be told to calm down, grow up and stop shrieking but some self-appointed forum censor.cafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.
Personally I’m pissed off we lost four nil and get fed up of speculative and highly negative posts every time we lose.Windy said:
Or to be told to calm down, grow up and stop shrieking but some self-appointed forum censor.cafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.
That aside I do think it's legitimate to question the intention of the new owners (or should that really be, franchise holders at the moment?). The lack of squad investment in January is odd, particularly when that was the explanation for not buying the ground and training ground. And it's also legitimate in my view to speculate what might happen with ESI if we go down.
Others may disagree which is fair enough, but it is a football forum that is open to all.1 -
Agree with that, we all love the club otherwise we wouldn’t be here. The difference is that I think it’s too soon to slag them off.cafc2020v2 said:
All that proves is having a bit of a twisted silly sense of humour then thought better of it. Any way. We will all see how this pans out. I love the club and everything about it except I'm really worried about this new ownership. The club the fans will survive I simply think we deserve a lot better and we should not be relying on how bad the ownership was with Roland to give this lot any leeway at all. We deserve the best.stonemuse said:
Oh dear, such a pity you got quoted before your edit.cafc2020v2 said:
Browny who's he?IAgree said:
Look if you enjoy slagging off all aspects of the club them bang out another 20 posts Brownycafc2020v2 said:
Be careful mate you might get someone asking you to cease and desist if you carry on with this type of agenda....se9addick said:
Right, but they haven’t actually moved in - RD (to my knowledge) still owns the property.Airman Brown said:
Yes, but not after moving in anyway.se9addick said:
House purchase analogy claxon - most people do some form of due diligence before they buy a house.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
ESI have, again to my understanding, some sort of contractual commitment to purchase the stadium by early July, if they don’t then I guess the consequences are forfeiture + penalties/damages, which might be an attractive exit clause if they want to walk away if the team is in League One versus the Championship.Again, no idea or insider knowledge on what the situation might be.0 -
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You're half right.Addickted said:Duchatalet is a seriously wealthy and respected businessman.
Just saying.0 -
I think this is the point. Duchatelet went public to tell us he would sell the football club for £1. What he wanted the big money for, was the assets - the ground and training ground. This was perfectly logical on the basis that the football club loses money every year and is "a financial graveyard." If ESI have only bought the football club, the logical conclusion is that they haven't paid very much for it in relative terms and haven't otherwise been splashing the cash. All of that might lead you to believe they haven't got real 'Arab money' and/or their operating model is nowhere near as secure as we have been lead to believe. In the circumstances, the sooner they complete due diligence and acquire the assets, the more relaxed we should all be. The longer this goes unresolved, the more worried we should be.eaststandmike said:
They have not “bought” the club though have they, they are just paying the monthly bills which suits Roland as that was the bit that pissed him off.Off_it said:
Why would they do that, having just bought the club? Might as well have just flushed x million down the khazi.cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
What an odd thing to say.
Roland still owns The Valley and Sparrows Lane so whilst ESI doing a runner would drag him back into paying the bills it’s not the end of the world.
ESI are “trying” before they “buy” a football club, remember Bowyers “strange” comment after he met Southall.19 -
I just went back and read through the notes from the meeting with Southall in late Jan when it first became apparent that ESI hadn’t bought the Valley (full account here https://www.castrust.org/2020/01/matt-southall-meets-supporter-reps/)Cardinal Sin said:
I think this is the point. Duchatelet went public to tell us he would sell the football club for £1. What he wanted the big money for, was the assets - the ground and training ground. This was perfectly logical on the basis that the football club loses money every year and is "a financial graveyard." If ESI have only bought the football club, the logical conclusion is that they haven't paid very much for it in relative terms and haven't otherwise been splashing the cash. All of that might lead you to believe they haven't got real 'Arab money' and/or their operating model is nowhere near as secure as we have been lead to believe. In the circumstances, the sooner they complete due diligence and acquire the assets, the more relaxed we should all be. The longer this goes unresolved, the more worried we should be.eaststandmike said:
They have not “bought” the club though have they, they are just paying the monthly bills which suits Roland as that was the bit that pissed him off.Off_it said:
Why would they do that, having just bought the club? Might as well have just flushed x million down the khazi.cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
What an odd thing to say.
Roland still owns The Valley and Sparrows Lane so whilst ESI doing a runner would drag him back into paying the bills it’s not the end of the world.
ESI are “trying” before they “buy” a football club, remember Bowyers “strange” comment after he met Southall.
From the notes it says:
”ESI Ltd have purchased Charlton Athletic Football Company Ltd which has a 99 year lease on The Valley granted by Charlton Athletic Holdings Ltd.“
So I’m guessing they will have paid something for that lease, I wonder if the lease is forfeited if it’s not converted to ownership of the freehold by July?All seems a bit strange.0 -
1. Tahnoon Nimer - Where is the proof he is serious wealthy. From where I'm sitting that has not been confirmed at all.Taxi_Lad said:I understand we as supporters,after all the shit we’ve been through, are inclined to worry but aren’t we overlooking some important facts here?
Tahnoon is a seriously wealthy and more importantly “respected” businessman. I highly doubt he’d be involved then act as a charlatan.The EFL would have needed proof of funds to rubber stamp the deal.ESI have already drafted plans for the training ground. These things don’t come cheap and I doubt it’s an expense a charlatan would fork out for if they was just “trying before buying”.
LB and JJ signed new contracts so would assume they are comfortable with things.All this adds a bit of perspective for me
2. Has the EFL actually rubber stamped the takeover officially. I actually emailed them to ask this and they said basically there is no time frame for this and I should contact the club for details. And also is there a chance that someone could have simply lent in the short term a loan to ESI that they simply give back with interest. Like a bridging loan?
3. ESI have rehashed old plans for the training ground. Refer to last publication of VOTV.
4. Why would they not accept the contract on offer. Money is money...
Again I must stress that I'm not a wind up merchant at all. I'm simply asking and putting this out to opinion and hopefully some fact can be given back.6 -
1. What "proof" do you require?cafc2020v2 said:
1. Tahnoon Nimer - Where is the proof he is serious wealthy. From where I'm sitting that has not been confirmed at all.Taxi_Lad said:I understand we as supporters,after all the shit we’ve been through, are inclined to worry but aren’t we overlooking some important facts here?
Tahnoon is a seriously wealthy and more importantly “respected” businessman. I highly doubt he’d be involved then act as a charlatan.The EFL would have needed proof of funds to rubber stamp the deal.ESI have already drafted plans for the training ground. These things don’t come cheap and I doubt it’s an expense a charlatan would fork out for if they was just “trying before buying”.
LB and JJ signed new contracts so would assume they are comfortable with things.All this adds a bit of perspective for me
2. Has the EFL actually rubber stamped the takeover officially. I actually emailed them to ask this and they said basically there is no time frame for this and I should contact the club for details. And also is there a chance that someone could have simply lent in the short term a loan to ESI that they simply give back with interest. Like a bridging loan?
3. ESI have rehashed old plans for the training ground. Refer to last publication of VOTV.
4. Why would they not accept the contract on offer. Money is money...
Again I must stress that I'm not a wind up merchant at all. I'm simply asking and putting this out to opinion and hopefully some fact can be given back.
2. Yes
3. Yes, and..?
4. They might not accept the contract on offer for any number of reasons, for example lack of financial backing to lack of confidence in the owners' plans. However, since they both signed, we can assume that these were not of particular concern to the Manager and his right hand man - the two key employees. It begs the question then, whether you're in receipt of "better" or clearer information to the contrary than they are.2 -
But what ESI have bought just loses money. There's no value there.se9addick said:
I just went back and read through the notes from the meeting with Southall in late Jan when it first became apparent that ESI hadn’t bought the Valley (full account here https://www.castrust.org/2020/01/matt-southall-meets-supporter-reps/)Cardinal Sin said:
I think this is the point. Duchatelet went public to tell us he would sell the football club for £1. What he wanted the big money for, was the assets - the ground and training ground. This was perfectly logical on the basis that the football club loses money every year and is "a financial graveyard." If ESI have only bought the football club, the logical conclusion is that they haven't paid very much for it in relative terms and haven't otherwise been splashing the cash. All of that might lead you to believe they haven't got real 'Arab money' and/or their operating model is nowhere near as secure as we have been lead to believe. In the circumstances, the sooner they complete due diligence and acquire the assets, the more relaxed we should all be. The longer this goes unresolved, the more worried we should be.eaststandmike said:
They have not “bought” the club though have they, they are just paying the monthly bills which suits Roland as that was the bit that pissed him off.Off_it said:
Why would they do that, having just bought the club? Might as well have just flushed x million down the khazi.cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
What an odd thing to say.
Roland still owns The Valley and Sparrows Lane so whilst ESI doing a runner would drag him back into paying the bills it’s not the end of the world.
ESI are “trying” before they “buy” a football club, remember Bowyers “strange” comment after he met Southall.
From the notes it says:
”ESI Ltd have purchased Charlton Athletic Football Company Ltd which has a 99 year lease on The Valley granted by Charlton Athletic Holdings Ltd.“
So I’m guessing they will have paid something for that lease, I wonder if the lease is forfeited if it’s not converted to ownership of the freehold by July?All seems a bit strange.
I can't imagine it was very much at all. We're talking Ken Bates buying Chelsea levels of cost here.
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Trial might not be the correct word however they have not bought The Valley, they have not bought Sparrows lane and they have not paid the old Directors loans back. So the 3 x major items that needed some serious wedge to become Charlton's new owners have not been funded.jimmymelrose said:
So what you are saying is that the club is on trial to potential owners.eaststandmike said:
They have not “bought” the club though have they, they are just paying the monthly bills which suits Roland as that was the bit that pissed him off.Off_it said:
Why would they do that, having just bought the club? Might as well have just flushed x million down the khazi.cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
What an odd thing to say.
Roland still owns The Valley and Sparrows Lane so whilst ESI doing a runner would drag him back into paying the bills it’s not the end of the world.
ESI are “trying” before they “buy” a football club, remember Bowyers “strange” comment after he met Southall.
As others have said Roland was willing to sell the footballing side for £1 as this was the side that was losing him money each month. If all ESI have done is stepped in and offered to pick up the monthly bills until June then in my eyes they are not our new owners.......yet.
On the flip side of the above I sincerely hope they come true to the their word and the agreement that is supposed to be in place about them buying The Valley & Sparrows Lane by June 2020 happens and we can all see they have pumped some serious cash into the club and own us lock, stock & barrel.
However until that happens I will continue to be suspicious of their motives, especially if ESI are paying Roland rent each month to use The Valley & Sparrows Lane.,19 -
Thanks for posting that link. I had not read that before. The 99 year lease (whilst not knowing details and whether it is a geared ground rent or not) and the personal guarantee (although good luck enforcing that in the middle East) do give me quite a bit of comfort.se9addick said:
I just went back and read through the notes from the meeting with Southall in late Jan when it first became apparent that ESI hadn’t bought the Valley (full account here https://www.castrust.org/2020/01/matt-southall-meets-supporter-reps/)Cardinal Sin said:
I think this is the point. Duchatelet went public to tell us he would sell the football club for £1. What he wanted the big money for, was the assets - the ground and training ground. This was perfectly logical on the basis that the football club loses money every year and is "a financial graveyard." If ESI have only bought the football club, the logical conclusion is that they haven't paid very much for it in relative terms and haven't otherwise been splashing the cash. All of that might lead you to believe they haven't got real 'Arab money' and/or their operating model is nowhere near as secure as we have been lead to believe. In the circumstances, the sooner they complete due diligence and acquire the assets, the more relaxed we should all be. The longer this goes unresolved, the more worried we should be.eaststandmike said:
They have not “bought” the club though have they, they are just paying the monthly bills which suits Roland as that was the bit that pissed him off.Off_it said:
Why would they do that, having just bought the club? Might as well have just flushed x million down the khazi.cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
What an odd thing to say.
Roland still owns The Valley and Sparrows Lane so whilst ESI doing a runner would drag him back into paying the bills it’s not the end of the world.
ESI are “trying” before they “buy” a football club, remember Bowyers “strange” comment after he met Southall.
From the notes it says:
”ESI Ltd have purchased Charlton Athletic Football Company Ltd which has a 99 year lease on The Valley granted by Charlton Athletic Holdings Ltd.“
So I’m guessing they will have paid something for that lease, I wonder if the lease is forfeited if it’s not converted to ownership of the freehold by July?All seems a bit strange.0 -
It’s the pre-existing lease, not a new one. The club isn’t losing money. It’s expected to about break even this season, as Matt Southall confirmed.Athletico Charlton said:
Thanks for posting that link. I had not read that before. The 99 year lease (whilst not knowing details and whether it is a geared ground rent or not) and the personal guarantee (although good luck enforcing that in the middle East) do give me quite a bit of comfort.se9addick said:
I just went back and read through the notes from the meeting with Southall in late Jan when it first became apparent that ESI hadn’t bought the Valley (full account here https://www.castrust.org/2020/01/matt-southall-meets-supporter-reps/)Cardinal Sin said:
I think this is the point. Duchatelet went public to tell us he would sell the football club for £1. What he wanted the big money for, was the assets - the ground and training ground. This was perfectly logical on the basis that the football club loses money every year and is "a financial graveyard." If ESI have only bought the football club, the logical conclusion is that they haven't paid very much for it in relative terms and haven't otherwise been splashing the cash. All of that might lead you to believe they haven't got real 'Arab money' and/or their operating model is nowhere near as secure as we have been lead to believe. In the circumstances, the sooner they complete due diligence and acquire the assets, the more relaxed we should all be. The longer this goes unresolved, the more worried we should be.eaststandmike said:
They have not “bought” the club though have they, they are just paying the monthly bills which suits Roland as that was the bit that pissed him off.Off_it said:
Why would they do that, having just bought the club? Might as well have just flushed x million down the khazi.cafc2020v2 said:
What stops these people from simply liquidating ESI and running for the sand dunes of Abu Dhabi?Cardinal Sin said:
I took it that they had an obligation to buy the Valley and training ground subject to due diligence i.e. if something showed up that was material, they could duck out. If not, they had to buy. I know that is an agreement to disagree but perhaps the parameters of that have been fine-tuned to make it far clearer legally. Either way, we are due an update on progress given this can't be a massively long or complicated task.BenHaimandBikey said:What due diligence is there to do on buying the the freehold of land?
Surely the hard part is on the liabilities of the club and that was done by the time he gave those press conferences/interviews.
Also how can you do due diligence but also have an agreement in place to buy training ground and valley? It doesn't make any sense. You would do due diligence before that stage. It's nonense.
What an odd thing to say.
Roland still owns The Valley and Sparrows Lane so whilst ESI doing a runner would drag him back into paying the bills it’s not the end of the world.
ESI are “trying” before they “buy” a football club, remember Bowyers “strange” comment after he met Southall.
From the notes it says:
”ESI Ltd have purchased Charlton Athletic Football Company Ltd which has a 99 year lease on The Valley granted by Charlton Athletic Holdings Ltd.“
So I’m guessing they will have paid something for that lease, I wonder if the lease is forfeited if it’s not converted to ownership of the freehold by July?All seems a bit strange.
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So, if they don't purchase the club in June and we roll over into July without any notable player purchases...... can we panic ?0
