Attention: Please take a moment to consider our terms and conditions before posting.
The Takeover Thread v3.0 - DONE! - Methven interview in the Telegraph (p55)
Comments
-
Enjoy it.ProperCharlton said:
Thank you. Sadly, the ceremony doesn't start until this evening. I have a long day of waiting around before the excitement begins. At least the takeover has put me in a good mood.seth plum said:
Congratulations on your graduation. I hope the ceremonials were really nice.ProperCharlton said:
Cheer up ladseth plum said:
Which presumably means points deductions and fines.bobmunro said:
If the club, like any other business, fails to pay the bills as and when they fall due then they are insolvent and the EFL can take action.seth plum said:
Does that lead to a risk if shareholders are called on to make good their promise but they refuse, or melt away when that time comes?bobmunro said:
Correct - proof of sufficiency of funds is all that is required, not the funds up front locked away in some escrow account.se9addick said:
I don’t think the EFL lock the funds away in some sort of high security vault in Preston! I would imagine you just need to demonstrate sufficiency of funds for the duration (I.e you have adequate liquid assets to cover your share of the running costs)seth plum said:The Cawley article contains an interesting bit of information, or at least makes clear something that seemed to me to be a bit vague.
Each shareholder has to have two years money to keep Charlton going in proportion to their shareholding or they don’t get the nod from the EFL.
In back of an envelope terms if the club loses 10 million a year (20 over two years) and Mr Methven has a 10% share, then he has to prove he is good for 2 million over the next two years.
I would expect the EFL to have some kind of method where that 20 million is locked away in a vault of some kind for two years (accumulated in proportion to shareholding) and those monies are released at need by some kind of burser.
Now I know with my business ignorance it probably doesn’t work quite like that, maybe somebody can clarify how indeed it does work.
What stops somebody showing they have funds for the future, but not fronting up when the need arises?
In that scenario I imagine a few of us will watch and study each and every shareholder like a hawk in order to get an early warning that a points deduction might be coming down the track.
I know that sounds negative, but it also seems to be reality.
In my defence I repeat that I was the first person on CL to warn about the Southall takeover, it was at a time when a lot of people were urging the EFL to hurry up and approve him. My warning back then was about sufficiency of funds.
Predictably I was roundly castigated by other CL posters as being negative, many of whom were probably chanting ‘we’re effing rich’ soon afterwards.
If I am right in remembering what you posted I reckon you qualify as a lad much more than me.
I qualify as a miserable old git.
I have been to some graduation ceremonies as a family member (I actually didn’t attend my own one back in the day even though it was the Queen Mother and the Albert Hall and all) and in terms of the catering in rank order:
Best Merton College Oxford
Then Bristol University
Then Royal Holloway
and much worse has been
Christ College Cambridge
and University College London (particularly poor).
Merton College is so rich it has it’s own vineyard FFS!2 -
NOTOSYSuedeAdidas said:IIOTOSY?2 -
No, not yet.SuedeAdidas said:IIOTOSY?0 -
There was supposed to be a big signing announced also. Perhaps I missed it, or is it Camara?0
-
Its Camara... think there was someone else, but we missed out on himArthur_Trudgill said:There was supposed to be a big signing announced also. Perhaps I missed it, or is it Camara?1 -
I see the club shop have already began to stock up in anticipation of the takeover being completed., but have an external link for when they run out.
Note the subscription service! Might be a more sound investment than a football club.
3 -
This is going to be a loooonnng day if we have to wait for the Earth to rotate through all the time zones from Greenwich Mean Time to whatever o'clock applies in Singapore, to get all the signatures!
Always assuming, of course, the FA has got all its ducks in a row to approve the sale of the Charlton Women team.0 -
Pavoren007 said:The official announcement cannot align with us sitting in a clapped out caravan park, which hopefully means something this afternoon with sufficient detail attached to it to get us all chomping at the bit. Most will remain sceptical, we have seen our club abused once too often in recent years for us not to be cautious, but signs are more positive, what appears greater autonomy for management to bring him who they deem fit, with an improved budget. These two things I like a lot, if the club are staffed suitably and the same ‘no d*ckheads’ rule as DH applies to his squad applies to the whole set up, I think we will be in a much happier place.
I would love to see the return of some of our loyal and talented previous CAFC employees, but that may be too much to ask and secondly, none of them would probably want it after TS et al’s treatment.
Come on you reds…!🔴⚪️
Agree with this. I feel positive about this takeover. Much more so than the previous several (and that's not just said with the benefit of hindsight). The anticipated return of a more professional off-the-pitch leadership structure will be transformative I think.1 -
CM hasn't actually embargoed it until EFL/CAFC announce officially, but some wise counsel are suggesting it might be better to wait until one of them do.bobmunro said:
When do you plan to publish the interview, Richard - now or when the Club formally announces the takeover is complete?PragueAddick said:
You might get your wish sooner than you think..._MrDick said:Can I be the first to say …. SE7 OUT
Methven told the Dossier that all the consortium was grouped together under the Global Football Partners name, partly to satisfy EFL.
It's frustrating that it's been semi-announced like this, but it's lunchtime here so I guess there's nothing to lose by waiting a bit.2 -
Aren't they also waiting on the FA to do their bit on the Women's team?1
- Sponsored links:
-
Find the relative lack of engagement on this thread quite surprising. Maybe it will get more busy WIOTOS0
-
This is such disappointing news, who the hell am I going to squabble and moan at now😾0
-
86
-
18
-
Jinkies!!!Gribbo said:1 -
Where's Dubai and the other ITK gone? Be interesting to see if they know anything about any official announcement today?4
-
If this was a house buying analogy have 'we' exchanged contracts and now have the keys in our possession after all the checks. Perhaps I should say Flat buying because obviously we don't own the freehold.
You wouldn't think being competitive in the 3rd tier was too much to ask for 🤷🏻♂️
0 -
That's fair enough.PragueAddick said:
CM hasn't actually embargoed it until EFL/CAFC announce officially, but some wise counsel are suggesting it might be better to wait until one of them do.bobmunro said:
When do you plan to publish the interview, Richard - now or when the Club formally announces the takeover is complete?PragueAddick said:
You might get your wish sooner than you think..._MrDick said:Can I be the first to say …. SE7 OUT
Methven told the Dossier that all the consortium was grouped together under the Global Football Partners name, partly to satisfy EFL.
It's frustrating that it's been semi-announced like this, but it's lunchtime here so I guess there's nothing to lose by waiting a bit.0 - Sponsored links:
-
Still trying to find a parking space as The Valley car park is already full with the other investors.cafc-4-life said:Where's Dubai and the other ITK gone? Be interesting to see if they know anything about any official announcement today?28 -
Wonder if one of the hordes of investors we have can play left back?6
-
Actually in addition I see that I also shouldn’t release it out of respect to Rich Cawley. I briefed out the most interesting quotes from CM to a small group of journos including Rich, but asked them to respect an embargo til an official announcement. He hasn’t used any of the material I gave him in his article, when to do so would have given it a lot more meat, so I have to assume he’s respecting the embargo and won’t be impressed if I break it myself.bobmunro said:
That's fair enough.PragueAddick said:
CM hasn't actually embargoed it until EFL/CAFC announce officially, but some wise counsel are suggesting it might be better to wait until one of them do.bobmunro said:
When do you plan to publish the interview, Richard - now or when the Club formally announces the takeover is complete?PragueAddick said:
You might get your wish sooner than you think..._MrDick said:Can I be the first to say …. SE7 OUT
Methven told the Dossier that all the consortium was grouped together under the Global Football Partners name, partly to satisfy EFL.
It's frustrating that it's been semi-announced like this, but it's lunchtime here so I guess there's nothing to lose by waiting a bit.17 -
MoneyWheresmeticket? said:Is this going to be better than all the other takeovers? If so, how?1 -
Not sure why it hasn’t been officially announced yet. Maybe they are briefing the media team to make an announcement later on todaycafc-4-life said:Where's Dubai and the other ITK gone? Be interesting to see if they know anything about any official announcement today?1 -
Premie League within 5 years.Wheresmeticket? said:Is this going to be better than all the other takeovers? If so, how?
5 -
I'm more concerned that my latest online dating match is already looking for someone else to chat to.
27 -
Heard that beforeOggy Red said:
Premie League within 5 years.Wheresmeticket? said:Is this going to be better than all the other takeovers? If so, how?
1 -
If that’s the case I hope Penney hasn’t invested a penny.Karim_myBagheri said:Wonder if one of the hordes of investors we have can play left back?1 -
Sorry I’ll get straight back on that sweetie…golfaddick said:I'm more concerned that my latest online dating match is already looking for someone else to chat to.4
