Sunday, 13 September 2009

I know nothing

One or two people asked me yesterday whether I knew anything about the state of the takeover. The answer is I don't know any more than anyone else does which is very little.

From what I can piece together the board have received an alternative approach, not exactly an offer, but at least an expression of interest which is worth thinking about. They are understandably reluctant to let a club that looks like a credible promotion possibility to the Championship go for a song. So enough money has been found to keep the club going for a while.

Attendances like that yesterday will help. Deducting 10,000 season ticket holder and 500 freebies that leaves 9,000 paying customers. It's difficult to work out what they would have paid on average given all the concessions, but if we say £18 that equals £162,000. Six gates of that size should cover the business rates.

Which perhaps illustrates the scale of the problem. One of the minor mysteries of current Charlton life, which Inspector Sands and I mulled over when we had a drink together in Toronto, is the retreat of the Rickster to a fastness on the Isle of Thanet. Our first thought was that it was a signal that Margate had at last really arrived as an up market location. However, we concluded that the real attraction was the possibility of travelling to the match on his own Rickshaw.

What is evident from occasional delphic utterances from Thanet is that the present financial situation cannot be maintained indefinitely. There are too many calls on the club's cash (including one of the highest wage bills in the division) for things to be kept afloat by the occasional donation of loose change by the directors.

So at some point there will have to be a restructuring of the existing set up, quite likely involving some new directors, or a more conventional takeover. When we will reach that point is far from clear.


Anonymous said...

Just a point on the paying attendees Wyn; a 1000 tickets counted went to Bromley schools, and it seems a 1000 more freebies will go to other schools for most games this season, so that leaves only 8000 paying customers.


Suze said...

It seems that there was an appeal over the Business Rates rateable value for the stadium and premises, which was agreed, and backdated to the end of May, thus reducing the rates payable, though that only lasts until 2010 when all Business rates RV in the country are re-assessed.

Anyone can get the RV figures from the Valuation Office website, and this years multiplier is .485. You multiply one with the other to get the Rates payable.

Sciurus Carolinensis Nemesis said...

You've left one major chunk out of your matchday ticket revenue estimate: VAT. From every £1000 of sales takings the club has to account for £130+ of VAT