The Takeover Thread - Duchatelet Finally Sells (Jan 2020)

In case Mrs Perks is looking in and wants to do something constructive to ingratiate herself with the new regime, here's a recipe for kangaroo vol-au-vents (serves 12):

2 teaspoons olive oil
400 grams kangaroo steak, finely diced
200 grams button mushrooms, finely diced
1 onion, finely diced
2 carrots, finely diced
2 sticks celery, finely diced
1 teaspoon garlic powder
200 gram-can diced tomatoes
1/4 cup low sodium beef stock
1/4 cup dry red wine or stock
1 teaspoon dried rosemary
2 teaspoons mixed dried herbs
1 tablespoon tomato paste
Black pepper to taste

Directions:
In a large frying pan, heat oil, add half the meat and cook for three to five minutes, constantly stiring until brown. Remove and set aside.
In the same frying pan, add mushrooms, onion, carrot, celery and garlic and cook until onion is soft.
Add meat, tomato, wine, stock, rosemary and mixed herbs.
Using a wooden spoon, stir to combine. Turn heat to low and cover with tightly-fitting lid, cook, stirring occasionally until meat is tender, normally about 90 minutes.
Season and stir in tomato paste.
Spoon into pastry cases and bake in moderate oven until golden brown.

cafcfan said:

In case Mrs Perks is looking in and wants to do something constructive to ingratiate herself with the new regime, here's a recipe for kangaroo vol-au-vents (serves 12):

2 teaspoons olive oil
400 grams kangaroo steak, finely diced
200 grams button mushrooms, finely diced
1 onion, finely diced
2 carrots, finely diced
2 sticks celery, finely diced
1 teaspoon garlic powder
200 gram-can diced tomatoes
1/4 cup low sodium beef stock
1/4 cup dry red wine or stock
1 teaspoon dried rosemary
2 teaspoons mixed dried herbs
1 tablespoon tomato paste
Black pepper to taste

Directions:
In a large frying pan, heat oil, add half the meat and cook for three to five minutes, constantly stiring until brown. Remove and set aside.
In the same frying pan, add mushrooms, onion, carrot, celery and garlic and cook until onion is soft.
Add meat, tomato, wine, stock, rosemary and mixed herbs.
Using a wooden spoon, stir to combine. Turn heat to low and cover with tightly-fitting lid, cook, stirring occasionally until meat is tender, normally about 90 minutes.
Season and stir in tomato paste.
Spoon into pastry cases and bake in moderate oven until golden brown.

The only connection I want Bernie to have with a kangaroo is when the thing kicks her up the a***.

Richard J said:

Q

ForeverAddickted said:

Just hope this gets done before January and that he's not dragging his feet

Hate to say but if was Roland I'd drag it out till the Transfer Window and then cash in on Konsa / Holmes / Kashi / Sarr!!

Interesting how Kashi and Sarr are now assists.

Assets. Assists would be good though.

Might sound contradicting to the liar we know of, but...


I also think the fact that KM and or any other charlton spokesperson has not responded to the reports of a takeover, is actually quite a good sign.

Dave2l said:

Might sound contradicting to the liar we know of, but...


I also think the fact that KM and or any other charlton spokesperson has not responded to the reports of a takeover, is actually quite a good sign.

Is there a "Liar" detector test during DD ?

DD can be quick if both parties are fully committed to working on any legal issues pre getting lawyers in volved.
Was involved in DD 3 times re a 5star hotel being sold 80 million in 1996 ! The owners wanted out ---there was alot of back and forth re statutory stuff but it didnt take that long

we dont know how far along the DD review this is or what is actuallly being sold or what issues there may be re the outstanding debts to former directors ----lawyers are never ever quick

SoundAsa£ said:

ElfsborgAddick said:

cafcfan said:

In case Mrs Perks is looking in and wants to do something constructive to ingratiate herself with the new regime, here's a recipe for kangaroo vol-au-vents (serves 12):

2 teaspoons olive oil
400 grams kangaroo steak, finely diced
200 grams button mushrooms, finely diced
1 onion, finely diced
2 carrots, finely diced
2 sticks celery, finely diced
1 teaspoon garlic powder
200 gram-can diced tomatoes
1/4 cup low sodium beef stock
1/4 cup dry red wine or stock
1 teaspoon dried rosemary
2 teaspoons mixed dried herbs
1 tablespoon tomato paste
Black pepper to taste

Directions:
In a large frying pan, heat oil, add half the meat and cook for three to five minutes, constantly stiring until brown. Remove and set aside.
In the same frying pan, add mushrooms, onion, carrot, celery and garlic and cook until onion is soft.
Add meat, tomato, wine, stock, rosemary and mixed herbs.
Using a wooden spoon, stir to combine. Turn heat to low and cover with tightly-fitting lid, cook, stirring occasionally until meat is tender, normally about 90 minutes.
Season and stir in tomato paste.
Spoon into pastry cases and bake in moderate oven until golden brown.

The only connection I want Bernie to have with a kangaroo is when the thing kicks her up the a***.

It’s ok Elfie.....you’re allowed to say arse.

I don't swear.

ShootersHillGuru said:

I know the answer might well be “how long is a piece of string” but just how long does a due diligence take ?

Charlton can’t be described as a very big business. In fact I would imagine that a football club and it’s assets would be a relatively straightforward business to audit.

I’m genuinely have no experience in which to even make an educated guess.

Having worked in this field for many decades I can confirm that in most corporate acquisitions of this scale the due diligence process is usually as long as a piece of string and sometimes longer .

ShootersHillGuru said:

I know the answer might well be “how long is a piece of string” but just how long does a due diligence take ?

Charlton can’t be described as a very big business. In fact I would imagine that a football club and it’s assets would be a relatively straightforward business to audit.

I’m genuinely have no experience in which to even make an educated guess.

I sold my business to a PLC company quoted on the stock exchange back in February of this year and whilst I am not prepared to mention exact figures on here it was less than £2 million so a lot less that Charlton.

The DD process took 3 months.

Stig said:

ShootersHillGuru said:

I know the answer might well be “how long is a piece of string” but just how long does a due diligence take ?

Charlton can’t be described as a very big business. In fact I would imagine that a football club and it’s assets would be a relatively straightforward business to audit.

I’m genuinely have no experience in which to even make an educated guess.

I read a while ago that an average premiership club is comparable is size to a large supermarket. Not a chain, but an individual outlet. If this is true, it's not very big. Like you, I can't imagine that size would be an issue in auditing and assessing what's actually up for sale (not that I have any knowledge). What I can imagine being a problem is that it's been run in a rather un orthodox manner (and that's putting it politely) we know that from some of the public nonsense that's taken place, but what's gone on under the radar? I expect that makes it a little more difficult to arrive at a real value and to untangle what wrongs a potential owner would be looking to put right. Oh, and the fact that the current owner is untrustworthy can't help - although I guess that's the underlying assumption with any due diligence work.

Not sure too many supermarkets pay the check-out staff £100,000 a week.

mogodon said:

Stig said:

ShootersHillGuru said:

I know the answer might well be “how long is a piece of string” but just how long does a due diligence take ?

Charlton can’t be described as a very big business. In fact I would imagine that a football club and it’s assets would be a relatively straightforward business to audit.

I’m genuinely have no experience in which to even make an educated guess.

I read a while ago that an average premiership club is comparable is size to a large supermarket. Not a chain, but an individual outlet. If this is true, it's not very big. Like you, I can't imagine that size would be an issue in auditing and assessing what's actually up for sale (not that I have any knowledge). What I can imagine being a problem is that it's been run in a rather un orthodox manner (and that's putting it politely) we know that from some of the public nonsense that's taken place, but what's gone on under the radar? I expect that makes it a little more difficult to arrive at a real value and to untangle what wrongs a potential owner would be looking to put right. Oh, and the fact that the current owner is untrustworthy can't help - although I guess that's the underlying assumption with any due diligence work.

Not sure too many supermarkets pay the check-out staff £100,000 a week.

True, but perhaps they spend that in the goods that they purchase for resale.

ElfsborgAddick said:

SoundAsa£ said:

ElfsborgAddick said:

cafcfan said:

In case Mrs Perks is looking in and wants to do something constructive to ingratiate herself with the new regime, here's a recipe for kangaroo vol-au-vents (serves 12):

2 teaspoons olive oil
400 grams kangaroo steak, finely diced
200 grams button mushrooms, finely diced
1 onion, finely diced
2 carrots, finely diced
2 sticks celery, finely diced
1 teaspoon garlic powder
200 gram-can diced tomatoes
1/4 cup low sodium beef stock
1/4 cup dry red wine or stock
1 teaspoon dried rosemary
2 teaspoons mixed dried herbs
1 tablespoon tomato paste
Black pepper to taste

Directions:
In a large frying pan, heat oil, add half the meat and cook for three to five minutes, constantly stiring until brown. Remove and set aside.
In the same frying pan, add mushrooms, onion, carrot, celery and garlic and cook until onion is soft.
Add meat, tomato, wine, stock, rosemary and mixed herbs.
Using a wooden spoon, stir to combine. Turn heat to low and cover with tightly-fitting lid, cook, stirring occasionally until meat is tender, normally about 90 minutes.
Season and stir in tomato paste.
Spoon into pastry cases and bake in moderate oven until golden brown.

The only connection I want Bernie to have with a kangaroo is when the thing kicks her up the a***.

It’s ok Elfie.....you’re allowed to say arse.

I don't swear.

Liar liar pants on fire!

Henry Irving said:

Stig said:

ShootersHillGuru said:

I know the answer might well be “how long is a piece of string” but just how long does a due diligence take ?

Charlton can’t be described as a very big business. In fact I would imagine that a football club and it’s assets would be a relatively straightforward business to audit.

I’m genuinely have no experience in which to even make an educated guess.

I read a while ago that an average premiership club is comparable is size to a large supermarket. Not a chain, but an individual outlet. If this is true, it's not very big. Like you, I can't imagine that size would be an issue in auditing and assessing what's actually up for sale (not that I have any knowledge). What I can imagine being a problem is that it's been run in a rather un orthodox manner (and that's putting it politely) we know that from some of the public nonsense that's taken place, but what's gone on under the radar? I expect that makes it a little more difficult to arrive at a real value and to untangle what wrongs a potential owner would be looking to put right. Oh, and the fact that the current owner is untrustworthy can't help - although I guess that's the underlying assumption with any due diligence work.

I think that was true in the 90s and early 2000s but premier league club's income has increased greatly sicne then due to TV money.

In terms of assets and staff numbers then yes they are still roughly the same size.

I did say a while ago