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THE 'OTHER' TAKEOVER THREAD (FOR PROPER CHARLTON)

12357…103

Comments

  • _MrDick
    _MrDick Posts: 13,107
    Zzzzzz

    I'll believe it when I see it on the OS.
  • Rothko
    Rothko Posts: 18,802
    [cite]Posted By: Valley McMoist[/cite]Zzzzzz

    I'll believe it when I see it on the OS.

    What the damp bloke said, I'm sooooo bored of football, I'm more concerned about the state of English cricket for the next few months
  • Swisdom
    Swisdom Posts: 14,977
    Well it certainly seems things are heating up doesn't it!!

    *swisdom gets some popcorn and unzips his flies in anticipation*
  • ChicagoAddick
    ChicagoAddick Posts: 4,393
    [cite]Posted By: Rothko[/cite]
    [cite]Posted By: Valley McMoist[/cite]Zzzzzz

    I'll believe it when I see it on the OS.

    What the damp bloke said, I'm sooooo bored of football, I'm more concerned about the state of English cricket for the next few months

    Ditto, without the cricket bit.
  • bingaddick
    bingaddick Posts: 8,181
    Well will find out sooner or later but this all sounds true to me and maybe why it's taken so long given the right offs required.
  • seth plum
    seth plum Posts: 53,448
    If there is a big announcement to be made, then it should first happen at the fans meeting to honour those who have made the effort to attend.
  • Goonerhater
    Goonerhater Posts: 12,677
    actually it should be at an emergency meeting of the shareholders who OWN the club.
  • LenGlover
    LenGlover Posts: 31,651
    A premature question probably BUT

    if there is any truth in this Mercury takeover rumour and write off of £30 million what will the position be re the training ground and houses only recently sold to various directors?
  • Henry Irving
    Henry Irving Posts: 85,222
    [cite]Posted By: Valley McMoist[/cite]Zzzzzz

    I'll believe it when I see it on the OS.

    : - )
  • LargeAddick
    LargeAddick Posts: 32,560
    fingers crossed but the article does sound a bit contradictory in parts. If the Board do end up writing off 30m of their own money then fair play to them. I'd always hoped that RM and MS esp could sell the Club and see a profit for everything they had achieved but unfortunately bad decisions over the last two seasons seem to have put paid to that. Despite the last couple of years we should never forget what RM, MS, BW, RA etc achieved.
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  • Fanny Fanackapan
    Fanny Fanackapan Posts: 18,738
    I'll second that, Large.
  • AFKABartram
    AFKABartram Posts: 57,825
    A few nice, well-timed soundbytes.
  • aliwibble
    aliwibble Posts: 26,290
    [cite]Posted By: LenGlover[/cite]A premature question probably BUT

    if there is any truth in this Mercury takeover rumour and write off of £30 million what will the position be re the training ground and houses only recently sold to various directors?
    I would imagine that they'll lease them back to the club, although I suspect the terms would be less favourable than if they were still in charge.
  • LargeAddick
    LargeAddick Posts: 32,560
    [cite]Posted By: AFKABartram[/cite]A few nice, well-timed soundbytes.

    you old cynic you !!

    However, if nothing happens by Thursday what's the betting they will refuse to discuss the 'T' word.
  • supaclive
    supaclive Posts: 6,514
    They can only write off £30m when the bank, auditors etc feel that it's prudent to do so. Ergo - they HAVE lost that money and they're NEVER going to get it back - so writing it off is just an accounting issue - it's not real - because whatever they get from the sale, is whatever they get from the sale.

    Writing off £30m now will give them tax advantages in the short term but they may end up being hit by tax in the long term - however, as I repeat - you can only write something off when it's truly lost - and they are quite rightly, the ones that took the financial gamble, made all the decisions and lost ...
  • kentred2
    kentred2 Posts: 2,335
    ........... and some of them are bankers who put in their bonuses .... money they didnt deserve in the first place so no sympathy there.

    if it is true they are losing out then one can only sympathise though for Richard Murray, perhaps Charlton's best Chairman (certainly in the early years and then the worst some would say)
  • bingaddick
    bingaddick Posts: 8,181
    Supaclive, you are talking about a technical "write off". Isn't Murray talking about the £30M that he and his fellow principle shareholders have invested which, if a deal goes through, they will not be receiving back when they sell their shares.

    Assuming that the deal encompasses repayment of the convertable bonds and maybe repays the recent money put in (for the training ground etc), then the consideration paid to purchase the club and it's net assets will be circa £20M. What is left is the original purchase value of their shares which I suspect will amount to very little, hence "writing off" £30M.

    If indeed this is the case and the deal does happen, then arguably those who risked most, ran the ship onto the rocks, will have to pay the price of this failure.
  • Imissthepeanutman
    Imissthepeanutman Posts: 1,458
    Murray said: “It is a huge commitment to write off the money we’ve invested. But I knew when I came into the club that I had to be willing to lose my money. Luckily I told the investors I brought into the club that they had to be prepared to do the same - and I think I’ll be proved right. But the club will carry on.”

    Unluckily I didnt tell the Directors who I didnt bring to the club nor the fans with small shareholdings for whom it may be a significant loss.
  • _MrDick
    _MrDick Posts: 13,107
    edited July 2009
    [cite]Posted By: Henry Irving[/cite]
    [cite]Posted By: Valley McMoist[/cite]Zzzzzz

    I'll believe it when I see it on the OS.

    : - )

    I'm learning from the master ;0 )
  • _MrDick
    _MrDick Posts: 13,107
    [cite]Posted By: AFKABartram[/cite]A few nice, well-timed soundbytes.

    Perhaps they've read your letter?
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  • Addickted
    Addickted Posts: 19,456
    [cite]Posted By: Imissthepeanutman[/cite]UnluckilyI didnt tell the Directors who I didnt bring to the club nor the fans with small shareholdings for whom it may be a significant loss.

    So when exactly did you purchase your shareholding Peanutman? :-))
  • Imissthepeanutman
    Imissthepeanutman Posts: 1,458
    [cite]Posted By: Addickted[/cite]
    [cite]Posted By: Imissthepeanutman[/cite]UnluckilyI didnt tell the Directors who I didnt bring to the club nor the fans with small shareholdings for whom it may be a significant loss.

    So when exactly did you purchase your shareholding Peanutman? :-))

    Probably about the same time as Derek Chappell invested!! But thats irrelevant. And I thought you of all people Addickted would know that peoples financial circumstances can change dare I say for better or worse.

    My point still stands in that its a rather bold sweeping statement from a person responsible for not just his own investment but that of others.
  • Henry Irving
    Henry Irving Posts: 85,222
    So has any one seen the full SLP article?

    Does it shed any more light?
  • CAFCBourne
    CAFCBourne Posts: 3,790
    [cite]Posted By: Henry Irving[/cite]So has any one seen the full SLP article?

    Does it shed any more light?

    Go and buy one you tight wad ;-)
  • Weegie Addick
    Weegie Addick Posts: 16,521
    [cite]Posted By: CAFCBourne[/cite]
    [cite]Posted By: Henry Irving[/cite]So has any one seen the full SLP article?

    Does it shed any more light?

    Go and buy one you tight wad ;-)

    Can't seem to find one in the local newsagent's in Glasgow - strange that - so any update appreciated...
  • CAFCBourne
    CAFCBourne Posts: 3,790
    None in Walthamstow either!!

    Hurry up Henry
  • McLovin
    McLovin Posts: 2,307
    [cite]Posted By: kentred2[/cite]........... and some of them are bankers who put in their bonuses .... money they didnt deserve in the first place so no sympathy there.
    Here we go again
    :-)
  • gilbertfilbert
    gilbertfilbert Posts: 2,282
    [cite]Posted By: Imissthepeanutman[/cite]Murray said: “It is a huge commitment to write off the money we’ve invested. But I knew when I came into the club that I had to be willing to lose my money.LuckilyI told the investors I brought into the club that they had to be prepared to do the same - and I think I’ll be proved right. But the club will carry on.”

    UnluckilyI didnt tell the Directors who I didnt bring to the club nor the fans with small shareholdings for whom it may be a significant loss.

    But I don't suppose any supporters who bought shares expected, or wanted, any financial return. I certainly didn't. Fair play to RM, he's been the best chairman we've ever had. His bad decisions -- judged with the 100% accuracy of hindsight -- have been of a kind that are inherent in the uncertain business of professional sport. More like a run of bad luck or poor form really.
  • Oggy Red
    Oggy Red Posts: 44,955
    [cite]Posted By: Weegie Addick[/cite]
    [cite]Posted By: CAFCBourne[/cite]
    [cite]Posted By: Henry Irving[/cite]So has any one seen the full SLP article?

    Does it shed any more light?

    Go and buy one you tight wad ;-)

    Can't seem to find one in the local newsagent's in Glasgow - strange that - so any update appreciated...

    I've just gone down to my village papershop and bought the Cornish Times.
    Unbelievably, there's nothing in there about any Charlton takeover.

    Therefore, it can only be true when it's in the Cornish Times.
    That's right, eh, Henry .... ?

    ;o)
  • Shrew
    Shrew Posts: 5,749
    Has the Beatles splitting up been reported in the cornish times yet Oggy ...

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