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So what's the news on Due Diligence?

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  • ross1
    ross1 Posts: 50,974
    golfaddick said:
    So, if they don't purchase the club in June and we roll over into July without any notable player purchases...... can we panic ?
    Why wait until summer.............I am already panicking
  • simonmatthews
    simonmatthews Posts: 698
    How much do the owners of the CAFC Company have to pay for use of the Valley and Training Ground? There must be some sort of rental figure agreed, and, I would have thought, an obligation to keep both in good condition. The pitch at the Valley seems to be deteriorating too: who is liable for the cost of renewing it?

    I can see a scenario in which the team get relegated and the owners of the CAFC Company can't afford to maintain these arrangements. (And can't get other "investors" sufficiently interested to pick up the slack). What then? Ground share elsewhere...?
  • RedChaser
    RedChaser Posts: 19,885
    Depends what the terms of the lease are, put the worry beads away until the end of June, it serves little purpose.
  • Arsenetatters
    Arsenetatters Posts: 5,975
    edited March 2020
    I can't wait until the end of June is two weeks away
  • CafcWest
    CafcWest Posts: 6,167
    I can't help but feel that all of this is Matt Southall's 'dream' of being the owner & chairman of a football club.  He has 'sold' the idea to business partner, friend and confidant (Nimer) on the basis that he could, with a 5 year plan, turn a decent profit (bit like the spivs did with Kevin Cash).  If it all starts to 'come apart at the seams' then we could be in trouble again.  People keep saying that "Nimer is loaded" ... well (a) we don't know that for sure and (b) even if he is loaded then it doesn't mean he will spend any of it on the club.  The entity that 'owns' us is called East Street Investments (and you don't invest to throw away your own money).  I agree with all those saying lets give ESI more time and see what happens in June/July but I do think there is a lot of risk in there.
  • Airman Brown
    Airman Brown Posts: 15,734
    RedChaser said:
    Depends what the terms of the lease are, put the worry beads away until the end of June, it serves little purpose.
    The terms of the lease will be the same as they have been for the last 25 years, because it’s the same lease. 
  • Airman Brown
    Airman Brown Posts: 15,734
    edited March 2020
    cafc-west said:
    I can't help but feel that all of this is Matt Southall's 'dream' of being the owner & chairman of a football club.  He has 'sold' the idea to business partner, friend and confidant (Nimer) on the basis that he could, with a 5 year plan, turn a decent profit (bit like the spivs did with Kevin Cash).  If it all starts to 'come apart at the seams' then we could be in trouble again.  People keep saying that "Nimer is loaded" ... well (a) we don't know that for sure and (b) even if he is loaded then it doesn't mean he will spend any of it on the club.  The entity that 'owns' us is called East Street Investments (and you don't invest to throw away your own money).  I agree with all those saying lets give ESI more time and see what happens in June/July but I do think there is a lot of risk in there.
    Exactly, although I think things may kick off when Roland doesn’t get his money. 
  • carly burn
    carly burn Posts: 19,459
    edited March 2020
    cafc-west said:
    I can't help but feel that all of this is Matt Southall's 'dream' of being the owner & chairman of a football club.  He has 'sold' the idea to business partner, friend and confidant (Nimer) on the basis that he could, with a 5 year plan, turn a decent profit (bit like the spivs did with Kevin Cash).  If it all starts to 'come apart at the seams' then we could be in trouble again.  People keep saying that "Nimer is loaded" ... well (a) we don't know that for sure and (b) even if he is loaded then it doesn't mean he will spend any of it on the club.  The entity that 'owns' us is called East Street Investments (and you don't invest to throw away your own money).  I agree with all those saying lets give ESI more time and see what happens in June/July but I do think there is a lot of risk in there.
      I have to say, the arrival of ESI doesn't have the feel of a big machine rolling in and really trying to change things for the better.
     I know that's not necessarily a bad thing but this does feel like one man and his dog.

    And I hope Southalls got some thick skin (and he doesn't strike me as someone that has) because if the unthinkable does happen, some are really going to give it to him in the neck.
  • se9addick
    se9addick Posts: 32,035
    cafc-west said:
    I can't help but feel that all of this is Matt Southall's 'dream' of being the owner & chairman of a football club.  He has 'sold' the idea to business partner, friend and confidant (Nimer) on the basis that he could, with a 5 year plan, turn a decent profit (bit like the spivs did with Kevin Cash).  If it all starts to 'come apart at the seams' then we could be in trouble again.  People keep saying that "Nimer is loaded" ... well (a) we don't know that for sure and (b) even if he is loaded then it doesn't mean he will spend any of it on the club.  The entity that 'owns' us is called East Street Investments (and you don't invest to throw away your own money).  I agree with all those saying lets give ESI more time and see what happens in June/July but I do think there is a lot of risk in there.
    My understanding was that Nimer’s  wealth was massive by normal standards, but not Sheikh money. 

    Wouldn’t be surprised if he has similar net worth to Roland. 
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  • Lewis Coaches
    Lewis Coaches Posts: 5,408
    Airman Brown said:
    cafc-west said:
    I can't help but feel that all of this is Matt Southall's 'dream' of being the owner & chairman of a football club.  He has 'sold' the idea to business partner, friend and confidant (Nimer) on the basis that he could, with a 5 year plan, turn a decent profit (bit like the spivs did with Kevin Cash).  If it all starts to 'come apart at the seams' then we could be in trouble again.  People keep saying that "Nimer is loaded" ... well (a) we don't know that for sure and (b) even if he is loaded then it doesn't mean he will spend any of it on the club.  The entity that 'owns' us is called East Street Investments (and you don't invest to throw away your own money).  I agree with all those saying lets give ESI more time and see what happens in June/July but I do think there is a lot of risk in there.
    Exactly, although I think things may kick off when Roland doesn’t get his money. 
    What can Roland do about that Airman.......
  • eaststandmike
    eaststandmike Posts: 14,956
    Lewis Coaches said:
    Airman Brown said:
    cafc-west said:
    I can't help but feel that all of this is Matt Southall's 'dream' of being the owner & chairman of a football club.  He has 'sold' the idea to business partner, friend and confidant (Nimer) on the basis that he could, with a 5 year plan, turn a decent profit (bit like the spivs did with Kevin Cash).  If it all starts to 'come apart at the seams' then we could be in trouble again.  People keep saying that "Nimer is loaded" ... well (a) we don't know that for sure and (b) even if he is loaded then it doesn't mean he will spend any of it on the club.  The entity that 'owns' us is called East Street Investments (and you don't invest to throw away your own money).  I agree with all those saying lets give ESI more time and see what happens in June/July but I do think there is a lot of risk in there.
    Exactly, although I think things may kick off when Roland doesn’t get his money. 
    What can Roland do about that Airman.......
    Padlock the gates to The Valley and Sparrows Lane until he does get paid. He is the landlord and ESI are the tenants. Or failing that, eviction.
  • RedChaser
    RedChaser Posts: 19,885
    edited March 2020
    Airman Brown said:
    RedChaser said:
    Depends what the terms of the lease are, put the worry beads away until the end of June, it serves little purpose.
    The terms of the lease will be the same as they have been for the last 25 years, because it’s the same lease. 
    Which are? Peppercorn rent? Fully repairing?
  • Airman Brown
    Airman Brown Posts: 15,734
    edited March 2020
    RedChaser said:
    Airman Brown said:
    RedChaser said:
    Depends what the terms of the lease are, put the worry beads away until the end of June, it serves little purpose.
    The terms of the lease will be the same as they have been for the last 25 years, because it’s the same lease. 
    Which are? Peppercorn rent? Fully repairing?
    Off the top of my head, I think the rent is £50k a year. It's necessarily a full repairing lease because the freeholder has never done anything, as per its accounts.

    Edit: Holdings currently makes £54k a year, so that makes sense. CAFC Ltd owes it £1.4m, which by no coincidence equals £50k a year for 28 years since 1992.
  • golfaddick
    golfaddick Posts: 33,628
    eaststandmike said:
    Lewis Coaches said:
    Airman Brown said:
    cafc-west said:
    I can't help but feel that all of this is Matt Southall's 'dream' of being the owner & chairman of a football club.  He has 'sold' the idea to business partner, friend and confidant (Nimer) on the basis that he could, with a 5 year plan, turn a decent profit (bit like the spivs did with Kevin Cash).  If it all starts to 'come apart at the seams' then we could be in trouble again.  People keep saying that "Nimer is loaded" ... well (a) we don't know that for sure and (b) even if he is loaded then it doesn't mean he will spend any of it on the club.  The entity that 'owns' us is called East Street Investments (and you don't invest to throw away your own money).  I agree with all those saying lets give ESI more time and see what happens in June/July but I do think there is a lot of risk in there.
    Exactly, although I think things may kick off when Roland doesn’t get his money. 
    What can Roland do about that Airman.......
    Padlock the gates to The Valley and Sparrows Lane until he does get paid. He is the landlord and ESI are the tenants. Or failing that, eviction.
    Hmmm........sounds remarkably like Gliksten in 1985.
  • Redmidland
    Redmidland Posts: 44,700
    edited March 2020
    I thought I read or heard somewhere on social media that HE was going to share the 5 year plan with fans? If I'm right it might be worth us all waiting to see what that is rather than spending time speculating on snippets that people pick up. Although a letter from CAST to MS asking when this information is going to be shared might be a good idea?
  • Mendonca In Asdas
    Mendonca In Asdas Posts: 22,650
    edited March 2020
    So we’re back to ground sharing with West Ham or Palace in the summer?
    (maybe).
  • ElfsborgAddick
    ElfsborgAddick Posts: 29,037
    Hopefully we're all worried about nothing, but there are questions that remain unanswered.
  • blackpool72
    blackpool72 Posts: 23,675
    Personally I shall remain very concerned all the while Roland still owns the valley and sparrows lane 
  • thickandthin63
    thickandthin63 Posts: 2,953
    I have no idea what is going on here with the Valley and sparrows lane,but surely all of this would have been taken into consideration by the EFL when assessing fit and proper ownership,they took long enough to get the deal through.
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  • ElfsborgAddick
    ElfsborgAddick Posts: 29,037
    blackpool72 said:
    Personally I shall remain very concerned all the while Roland still owns the valley and sparrows lane 
    There could be a shafting on the way.
  • SantaClaus
    SantaClaus Posts: 7,652
    Is there a way to stop Roland realising the value of the land after evicting the club? If this is his plan he clearly thinks there isn't.
  • Addickted
    Addickted Posts: 19,456
    As The Valley was relisted as an ACV only last February, Duchatalet cannot do a lot for the next four years.
  • Cafc43v3r
    Cafc43v3r Posts: 21,600
    Addickted said:
    As The Valley was relisted as an ACV only last February, Duchatalet cannot do a lot for the next four years.
    Are you joking? 
  • Cafc43v3r
    Cafc43v3r Posts: 21,600
    thickandthin63 said:
    I have no idea what is going on here with the Valley and sparrows lane,but surely all of this would have been taken into consideration by the EFL when assessing fit and proper ownership,they took long enough to get the deal through.
    The ownership of the ground isn't really any of the EFL's business.  Lots of clubs don't own thier own ground.  Not saying its right or wrong but it isn't part of the fit and proper because there is no requirement to own your ground. 
  • golfaddick
    golfaddick Posts: 33,628
    Fit & proper is about who's coming in & if they have the money to fund the club (wages, bills etc) over the next 3 years.

    EFL dont care how much they pay or what they are buying.
  • se9addick
    se9addick Posts: 32,035
    Addickted said:
    As The Valley was relisted as an ACV only last February, Duchatalet cannot do a lot for the next four years.
    That’s absolutely not the case. 
  • Addickted
    Addickted Posts: 19,456
    So are you saying the ACV offers no protection from scheming owners?
  • RedChaser
    RedChaser Posts: 19,885
    edited March 2020
    Addickted said:
    So are you saying the ACV offers no protection from scheming owners?
    In the event of a sale for use other than a sports venue for example I think it just gives CAST the right to make a counter offer to purchase but if it can't raise the funds then it's curtains. In other words it just buys you some time (6 months) to acquire the asset.
  • bertpalmer
    bertpalmer Posts: 1,774
    SantaClaus said:
    Is there a way to stop Roland realising the value of the land after evicting the club? If this is his plan he clearly thinks there isn't.
    yeah squatters

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