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Roland - another statement (12/8/2019)
Comments
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Athletico Charlton said:JamesSeed said:Roland had an agreement to sell the club, including freeholds, for £34M, but got greedy when we won the playoff final at Wembley. In fact I’m sure he’d always believed he’d be inundated with higher offers (£50M+) once we were in the Championship.When that didn’t happen he ended up falling for Southall’s con trick, basically giving the club away on the promise that he’d receive his £50M for the freeholds within the year.But that unrealistic £50M figure is clearly still etched into his consciousness. So long as he’s receiving his £500k a year he seems content to sit on what he sees as an appreciating asset, while waiting for the £50M to drop into his lap. He’s deluded, of course, but has the wealth to sit and wait.Our only real hope is that with Charlton’s declining fortunes he or his heirs eventually accept a lower, more realistic offer.
Had he taken the money and invested it with a relatively simple 5% annual return he would now have c£41M and be in touching distance of his money back (at 9% growth pa - he would have his cash back).
Instead he has a couple of million of rent and an asset that in real value will have fallen whether looked at as a future development piece of land (values have collapsed in the last year), or a home for a hard up third division club. Not mention his £50M then would be about £62M today post inflation so the gap has widened.
He sits and makes 1% pa return on his cash.
Stubbornness = Stupidity in this instance.
What a missed opportunity for him and the club.4 -
SporadicAddick said:Building bridges won’t buy the ground. If you have a spare £30million and don’t mind giving it up for no return in order to reunite club and ground, I would fully support you.2
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Cloudworm said:Off_it said:Cloudworm said:Off_it said:Cloudworm said:That's the point though, nobody has the money, so it seems logical to bring the ground back into the fold if possible.
What's the alternative?
Stranger things have happened in the world....I think.1 -
JamesSeed said:Roland had an agreement to sell the club, including freeholds, for £34M, but got greedy when we won the playoff final at Wembley. In fact I’m sure he’d always believed he’d be inundated with higher offers (£50M+) once we were in the Championship.When that didn’t happen he ended up falling for Southall’s con trick, basically giving the club away on the promise that he’d receive his £50M for the freeholds within the year.But that unrealistic £50M figure is clearly still etched into his consciousness. So long as he’s receiving his £500k a year he seems content to sit on what he sees as an appreciating asset, while waiting for the £50M to drop into his lap. He’s deluded, of course, but has the wealth to sit and wait.Our only real hope is that with Charlton’s declining fortunes he or his heirs eventually accept a lower, more realistic offer.10
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Ferryman said:JamesSeed said:Roland had an agreement to sell the club, including freeholds, for £34M, but got greedy when we won the playoff final at Wembley. In fact I’m sure he’d always believed he’d be inundated with higher offers (£50M+) once we were in the Championship.When that didn’t happen he ended up falling for Southall’s con trick, basically giving the club away on the promise that he’d receive his £50M for the freeholds within the year.But that unrealistic £50M figure is clearly still etched into his consciousness. So long as he’s receiving his £500k a year he seems content to sit on what he sees as an appreciating asset, while waiting for the £50M to drop into his lap. He’s deluded, of course, but has the wealth to sit and wait.Our only real hope is that with Charlton’s declining fortunes he or his heirs eventually accept a lower, more realistic offer.3