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Supporters group meeting with Matt Southall - Friday 24th January

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Comments

  • Did anyone follow MS when he left see who he was meeting?
    The Rose of Denmark.
  • The reason the separation was set up between Holdings and CAFC Limited in the first place was to protect the freehold asset from the football club going bust, i.e. so that its value as a freehold asset when the lease had been broken by insolvency could not be used to pay the debts of the football club.

    Unless the title to the land has been split we seem to be getting no further than a range of colourful ways of describing the purchase of CAFC Limited but not Holdings. The ex-directors (some of them at least) don’t believe you can do that without their permission and they have not given it. Perhaps ESI have different advice, but I do  wonder why they don’t seem prepared to share it with them if that’s the case?
    Perhaps MS was just a bit ‘loose’ with his language and not trying to be deliberately vague. I don’t think his background suggests he would be a subject matter expert on legal and property matters and necessarily be precise on terminology used. 

    If we take at face value he may have simply meant the lease to the ground means they can practically do whatever they need to I.e. the bricks and mortar for the football club. Access to the freehold will follow subsequently. 
  • When we turn to squad matters...did anyone ask about the circumstances of Gallagher’s recall?

    Interesting comment from MS about how asking prices drop significantly at the end of the window. Makes absolute sense, but I’ve never heard it actually articulated by someone with practical experience. 
    Then we get the likes of Josh Parker.
  • Pitches don't have French Drains, they would only go beside a pitch. It's a trench with a land drain at the bottom that is back filled with pea gravel. It can help reduce the water table and as there is no soil/turf on the top, it takes surface run off away quickly to the land drain and away. 

    Ideal for use close to buildings with no damp proof course. Maybe we are saving money on construction costs 😉

    The idea was some bloke in America called French.
    Are you also into trains? 
  • aliwibble said:
    Yep. I can entirely see why ESI would have wanted to structure the deal in such a way as a result of the time pressures relating to the transfer window, but I don't trust Roland not to shaft us given the opportunity. Until he's completely gone I'm not going to be happy.
    I just can't see how he can given the contracts that have been in place from before, and the calibre of business people he's dealing with, with regards to HE / Heller and their teams, not so much MS.


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  • Agreed.
    The Director loans are insignificant to any deal, they are simply a debt new owners take into account in making a deal.

    The legal costs to make changes to the existing terms would eat up more than the 7k debt, so I suspect nothing has changed in terms of who owes what to whom.

    MS comments about not being worried about carrying debt makes sense given a £60k loan owed to Staprix at 2% and a contingent liability of £7k create no significant financial liability. As long as tenure is secure it doesn’t matter if you occupy as a freeholder or leaseholder.

    “Owning bricks and mortar” may be reference to the benefit of the lease via CAFC Ltd otherwise it can only mean the freehold has been bought from Holdings/Baton. The statement about buying Sparrows Lane in six months means they don’t yet own Holdings/Baton and haven’t bought out the freehold, so can’t see how CAFC has anything other than the ongoing leasehold title.

    i see no logical reason to be worried about how the legalv  issues around the deal get sorted. Who knows, the Rat may be happy to get his debt repaid down the line and in the meantime gets a small rent, why should we be worried if that suit both parties.

    Re Glicjsten, I suspect Glicksten was bleeding the club with a hefty commercial rent, not a nominal rent as currently paid to the freeholder so an entirely different financial exposure.
    Jeez...If I’d known the debt and loans were that low I’d have bought the club myself!!! 🤷🏻‍♂️
  • castrust said:

    Our notes from the meeting:

    https://www.castrust.org


    The cropping of the picture you’ve used for the report looks like a Ryan Reynolds post on social media! 
  • Did anyone follow MS when he left see who he was meeting?
    He asked us specifically not to follow him to try and find out.




    He was joking BTW
  • During the "Mad Cow crisis" a french drain was supposidly from the cess pit to the cattle trough.
  • So if The new owners do not buy the freeholds of the Valley and SL before the end of the season and Charlton get promoted (don't laugh) does that mean that Roland would legally have to pay up the directors loans?
  • Then we get the likes of Josh Parker.
    Not if the goals for the window’s activity (both selling and buying)  have been  planned and agreed in advance by all relevant members of the management. 

    That does not eliminate the risk element, but it makes the likelihood of a decent outcome soooo much higher. 

    Patently that did not happen 12 months ago. The sale of Grant - for a pittance - clearly blindsided Bow and co. As did the recall of Gallagher but that clearly was not the fault of the management team, who could not reasonably have planned for it, given the signals from Chelsea’s relevant people in December.
  • Not if the goals for the window’s activity (both selling and buying)  have been  planned and agreed in advance by all relevant members of the management. 

    That does not eliminate the risk element, but it makes the likelihood of a decent outcome soooo much higher. 

    Patently that did not happen 12 months ago. The sale of Grant - for a pittance - clearly blindsided Bow and co. As did the recall of Gallagher but that clearly was not the fault of the management team, who could not reasonably have planned for it, given the signals from Chelsea’s relevant people in December.
    Surely that planning would include a timeline to maximise the value of our investment in new players? We’ve played 5 matches since the window opened and won 0 of them.
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  • In February and March MS will meet with all the department heads to discuss what needs to be done.

    Hopefully he'll see at least one next week.
  • Very good summary.

    LA did say people could stay overnight at the new training ground but not live there.

    On the Valley there are no plans to expand capacity until crowds reach capacity but they are looking at improvements is the dug outs and the millennium suite.

    In February and March MS will meet with all the department heads to discuss what needs to be done.

    Already had a meeting with the head groundsman in the middle of the pitch.
    Curious to see how they can improve the dugouts

    They've always been a bit squeezed in, only way I could see them achieving it (if they wanted those proper Premier League bench seats) is by building into the West Stand where I presume fans will lose their Season Tickets
  • "Lee Bowyer often gets sent off in practice games because his will to win is so strong."

    Injury list explained.



    Lee's team lost 11 - 0 last week.

    He was furious.


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Roland Out Forever!