Thursday, 12 December 2013

American takeover bid withdrawn

The South London Press has reported that the American takeover bid for Charlton has been withdrawn, apparently over a failure to agree over price: Takeover .

Suggestions that the acquisition of Asset of Community Value status for The Valley by the Charlton Athletic Supporters Trust have no basis. A well informed Addick has stated, 'I can confidently say "no" to that because directors have a direct line to Trust people including me, and none of them have ever raised ACV as an issue with any of us, at any time during the lengthy process of getting it. Indeed I was told that the whole Peninsula issue is a red herring regarding any takeover.' Once again the issue would appear to be one of realistic pricing.

Nothing more has been heard of the British property company, so that was also supposedly interested, but this always looked a less attractive offer in terms of the sums of money likely to be available and the suspicion that it was a property play.

The squad badly needs strengthening in the transfer window to avoid a relegation battle, but we continue to lose money (as do most Championship clubs).


Anonymous said...

Why did it fall apart,because the American spotted the Pig in the Poke.
Forget all the talk of ACV ,that is not going to stop a buyer.
Engaging all parties who own the Debt would be a good idea,2 Banks,6 Ex and one current Director ,as far as we hear some engaged, others never engaged,RBS wants its Loan paid off.
Prospectus as good as a bucket with holes in.
Peninsula deal full of problems,Gasometer,Polluted Site,Morden College Freeholders etc etc etc...
Owners having to invest £600,000 a month just to keep Club alive and their unsecured Debt spiralling to £23 to £24mn by summer, every cheque they write is now a loss.
If we are relegated the only people who will have security over Loans are Banks and Ex Directors. Slater and Jimenez will have lost everything as happened to last Board when we were relegated to First Division and they wrote off Equity and a £14MN Convertible Bond.
So listen up Mr Cash if you are pulling the strings,sell and sell soon,if you can only get 75% of your money take it and run,from where I am sitting that looks a good bet versus losing it all if we go down.

Sciurus Carolinensis Nemesis said...

Not much of a story is it? "a discussion, which none of the supposed participants will confirm ever too place, has now stopped" doesn't hold any more water than the speculative plant in the daily fail

Wyn Grant said...

Well they would deny it wouldn't they? I think it is a significant story because there was serious interest and it looked like the best chance of escaping from our current financial fix.

Anonymous said...

All the buyers with brains are waiting for Administration ,as once they see the accounts and cash flow position,they then know it will all end in tears.
Kevin Cash has two options invest and push for Premier League and get money back and profit.Keep it alive and build debt to a level where he will never get his cash back and may get relegated and lose it all.
Sorry 3 ,bail out now for small loss/break even .