Tuesday, 31 March 2020

Update on the cash situation

Richard Cawley of the SLP has tweeted: 'I approached Charlton Athletic for a statement over whether they had funding for the next few months. There was definite fears amongst staff that the money would run out by April. EFL have since pushed forward a payment due to the coronavirus pandemic.'

'The response I've got is that Tahnoon Nimer will be investing funds to keep the club running and that the first of those will be in April. The club have also indicated they will be paying existing creditors but will be reviewing all new creditors from the start of this season on a "case-by-case basis"'.

This doesn't sound too hopeful for them and suggests that cash may be in short supply. Cawley has clarified his statement on this point by adding 'I'm surmising that they don't believe every creditor from the start of this season should be paid or has a valid claim to be paid by the club.'

'EFL's stance - as it has been since early January - is that source and sufficiency of funding needs to be satisfied for them to approve ESI takeover.'

Tahnoon Nimer has issued a statement saying he will not sell the club: No intention to sell

Richard Cawley has commented: 'Of course, even if you were looking to sell a club then you wouldn't necessarily shout it from the rooftops. I'd also say that any serious buyers would surely factor in current situation globally. Plenty of wealthy people seen huge sums wiped off stocks and shares.

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