Wednesday 10 June 2020

Consortium purchase confirmed

The official site has finally confirmed the purchase of the club by a consortium led by Paul Elliott:

Further analysis to follow, but my initial reaction is that it doesn't look as if there will be an early sell on to the Varley/Barclay bidders.

Once again, the new owner seems to be talking the talk, but we have been there before so a certain caution is understandable.

One fan commented, 'Seems good to have, hopefully, seen the back of the shambles of Tahoon and Southall. Paul Elliot seems to be saying the right things, but then he would wouldn't he and we've heard it all before - many times. Maybe cautious optimism, rather like a faithful old dog that keeps coming back for more abuse, poor old thing.'

VOTV editor Rick Everitt has posed an important question: 'Next question is whether new consortium actually wants to acquire The Valley now and if so why?'

Tweeting from his Ramsgate fastness, Everitt added: 'It’s quite possible that the January deal with ESI also allows RD to reverse the sale of Charlton to ESI on the basis the takeover was never fully ratified by the EFL. But that would probably force him to pick up liabilities incurred since, at least initially.'

The Ramsgate-based fan also retweeted the following message: 'As per ESI takeover agreement with RD, the latest ownership change means he can now immediately ask for the £50m owed for transfer of the Valley and Training Ground. I’m told by someone who spoke to RD yesterday that he’s "furious" so expect that debt to be called in.'

Roland Duchatelet has so far issued no statement on the matter.

Richard Cawley of the SLP has commented: 'It's the second time the ownership of Charlton Athletic FC has changed hands without it being approved by the EFL. Shambles.'

Whilst I agree, it should be remembered that the EFL is a private organisation that runs a competition for its member clubs.  It is not set up as a regulatory body, nor does it have the staff resources to carry out that function which is why another entity needs to be created for that purpose.

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