Thursday, 27 August 2009

Amid the euphoria

It is probably worth reminding ourselves that the takeover has not been completed and we may find ourselves selling a couple of our best players before the transfer deadline. What has prevented an acquisition is unclear, but there have been persistent but unconfirmed rumours that two directors want the money they loaned to the club paid back (or at least a good part of it). This would use up
money the new board would prefer to invest the team.

As it stands, the business is not viable. We have high infrastructure costs associated with our former status which cannot be brought under control. For example, I understand that the business rates on The Valley alone amount to around
£1m a year. In those circumstances the only way to keep the business going is to provide working capital by selling assets, i.e., players.

I took my nine year old granddaughter for a day out in London yesterday and we saw Tower Bridge raised for a cruise ship (the MV Silver Cloud) leaving the Pool of London which was the first time I have seen this since I was a child. Given that the ship would go down river, I thought that this was a good omen for Charlton, but now I am less sure.


bingaddick said...

Wyn, Steve Waggott said on Saturday that they expect one out (most likely Moo2) and four/five in before the end of this window. With Gray gone, I guess that frees up some money, although as you say, the club is leaking money so unless they have found some under the squeaky floorboard behind the wardrobe, it seems likely to me that they have secured some additional investment, either by the Takeover being finalised or another line of investment from within the current board or externally.

Wyn Grant said...

How many of those coming in are loans remains to be seen - although the right loans would be fine.

Anonymous said...

My vote for the one out is Waggott...