Thursday, 19 March 2020

Full sp on takeover reversal

Former chairman Derek Chappell is behind a move that could yet unwind the takeover of Charlton Athletic by ESI, reveals VOTV editor Rick Everitt: Ex-chairman's bid

Writing from his Ramsgate fastness, Everitt gives some hope to fans when he states: 'Duchatelet may not want the club back, but he is unlikely to allow it to slide into administration because that could result in tens of millions of loans from his Staprix NV being wiped out, as well as a likely ten-point deduction which could lead to relegation.'

However, the Rickster also warns: 'Until and unless Nimer satisfies the EFL, the club’s ability to pay its bills – including player and staff wages – is in question, due in part to a spending spree on consultants and lifestyle benefits for Southall and a string of associates since the turn of the year. Voice of The Valley has been told that Southall had already been warned the club was fast running out of cash, despite him telling the playing staff last week that they could be paid until the end of the year.'

Everitt notes that ultimately 'the most stable course may be a reset that invites Duchatelet to engage in serious negotiations with a number of other interested parties. But that will depend on the courts being willing to intervene.'

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