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Southall, Bassini and the purchase of Charlton Athletic

edited August 2020 in General Charlton
Attached is 29 page PDF file which has been passed to me by someone who is not employed by the Football Club.

I'm posting it here because I think it is of interest as it gives some previously unknown information and also sets out some of the terms of the takeover agreed by Matt Southall (MS) with Lieven de Turck (LDT).

It clarifies what I think nearly all of us already knew ie that Matt Southall has been the centre, and has been the main instigator, of this scam right from the start. 

I also hope that others more financially and legal aware than me can add to what I have gleaned from it.

The key points for me are that:
  • It is a letter from lawyers acting for Bloom Properties Limited (BPL) a company of whom Laurence Bassini is the only director.   
  • The letter to addressed to Matt Southall at Charlton Athletic Football Club
  • The letter is dated 13 March 2020.  This is significant as it is the day after the eviction of MS from the Valley boardroom by Mick Everett, Olly Groome and Tracey Leaburn
  • In section 5 of the letter it states that MS and LB have been associates for "many years" and we're involved together in the purchase of Bolton Wanderers. 
  • In section 7 it states that LB introduced MS to CAFC as LB had previously been in discussions to buy the club from Roland Duchatelet (RD)
  • LB states that MS agreed to pay a fee to LB if MS bought Charlton Athletic
  • Section 8 refers to an agreement dated August 2019 made between MS (in a personal capacity) and BPL to pay £1.25m plus VAT to BPL should the purchase of CAFC be completed.  Note the client is "Matt Southall (East Street Investments)"
  • In section 10 there is a transcript of a Whatsapp message (copied in full in the appendix) in which MS messages LB   "I need your help to close Charlton this week Laurence. Big dough in it for us"
  • In sections 14 and 15 LB mentions the novation (shifting) of personal debt to LB from MS to Charlton Athletic Football Club as MS was not a "man of significant means". MS could not pay in one instalment and that the debt would instead be paid by CAFC
  • In section 18 LB states that MS offered LB a permanent role at CAFC as a means of paying the debt
  • In Section 20 the lawyers seem to suggest the novation (shifting) of the debt "suits your (MS's) personal interests" and it may also be in breach of MS's duties to CAFC as a director.   There is also a mention of recent media related to CAFC which would IMHO be the boardroom eviction the night before.
  • In sections 24, 26 and 28 LB states that the debt due at that time (13 March 2020) is £606,507.03 and that the interest on the debt is 8.25% or £113 per day.

Part one.  More to follow.


  • Part two

    The appendices contain a number of emails between MS and LTD negotiating on the prices and other conditions/payments for the purchase of CAFC

    At this point I will state that Freshfields, Thomas Sandgaard's lawyers are aware of and have this document.  I don't know if TS has seen it but his lawyers would, I assume, have made him aware of it's content.

    If my reading of the series of emails is correct then MS agreed to pay RD

    £1 for the club

    £1.5m if CAFC stayed in the Championship after season 2019/20

    £1.5m if CAFC stayed in the Championship after season 2020/21

    Pay £8m if CAFC were promoted to the EPL by 3 June 2022

    CAFC appear to have a 15 year lease on VG and SL at £200k per year with an option to buy in five years for £50m plus inflation.

    MS states that the buyers will deal with the ex-directors loans.

    Paul (McCarthy), Lee (Amis) and Shaun (McHugh) are mentioned in the emails.   Perhaps interestingly Tahnoon Nimer is not.
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