Thursday 29 December 2022

Latest takeover developments: tragedy or farce?

Rick Everitt has stated: ‘Sandgaard is aiming to sell 80% of Charlton for £11.3m, but contributions as small as $75k are being sought from small investors in Texas (by the potential purchasers, not Sandgaard), which suggests group lacks serious funds and no Valley purchase is likely.

Potential small investors are being told of recent appointments (including Rodwell, Warrick, Holden, Scott) and also that major cost reductions are feasible following bad management.

My take on the latest info is that the intention here is to flip Charlton - there would be some short-term spending but the cost-cutting claims being made (no doubt for the benefit of gullible Americans) are absolutely risible as a business plan.’

Another contributor on Twitter stated: ‘Potential investors are being asked not only to buy in, but also to take on a share of the annual losses.   I can’t imagine many people falling for that, nor blithely accepting glib references to cost reduction opportunities.’

This all looks ramshackle to me and confirms my view that nothing significant is imminent.  This all looks ramshackle to me and confirms my view that nothing significant is imminent.  However, Everitt has subsequently stated that Sandgaard has signed a deal with the Methven group including an exclusivity deal for due diligence.

Based on what I saw in the Netflix series on Sunderland, Methven is not good news.   Like all old Etonians, he has excessive confidence in his own good judgment.

The esteemed Drinking During the Game blog has unearthed another man of many parts hanging round the club, Simon Lenagan whose father was at one time the owner of Oxford United:

It is difficult to say whether this is a tragedy or a farce, probably both.

Friday 23 December 2022

American investment firm linked with Charlton

Unconfirmed reports have linked American private investment firm Carlisle Capital with Charlton.  They are based in Portsmouth N.H. and seek long-term value in their investments:

The bid is being spearheaded by Adam Binnie - vice president of Carlisle Capital - who wants to add a traditional English club to his company’s portfolio. They regard Charlton as an under performing club with great potential.

Their president was born in Scotland and they have interests in media and real estate.    They were involved in an unsuccessful bid to take Derby County out of administration.   They withdrew because of complications over stadium ownership.   This could be an issue at Charlton.

Thursday 22 December 2022

Short contract for Holden

Dean Holden's contract will run until the end of the season, Andy Scott's runs until the end of January, but he is hoping for longer.  This may depend on any ownership changes.  Meanwhile, Scott sees his role as strengthening the squad by the end if January:

Holden visited the Royal Oak last night.

Steve Gallen will be involved in transfer negotiations.

Wednesday 21 December 2022

Methven denies imminent takeover stories

Charlie Methven has spoken to the SLP's Richard Cawley:

He denies press reports that he has putting together a consortium of Americans and Qataris to acquire the club.   However, he says that SE7 Partners is the vehicle he and Warrick would use if they thought a takeover was viable in the future.

One of Methven's gimmicks at Sunderland was to change the stadium music, so watch out for the Red, Red Robin (mind you, getting rid of Addicks to Victory would be a plus):

Methven is an old Etonian and a public relations consultant, although chancer and opportunist might be more appropriate:

Tuesday 20 December 2022

The plot thickens

As expected Dean Holden has been appointed as Charlton manager and I wish him well in his months with us.  Andy Scott is the new de facto Director of Football.   A new chief operating officer (Jim Rodwell) has been appointed.

What is mysterious is that the new finance director (Ed Warrick) is co-director of a shell company called SE7 Partners with Charlie Methven.   Rick Everitt thinks this could be the beginning of the end of Sandgaard, but we shall see.

I do not have a favourable view of Methven, albeit largely based on the televised series about Sunderland.

Dean Holden tipped as new manager

Richard Cawley has stated: 'Nobody denying that Dean Holden is set to be Charlton's new manager, Put it that way. And quite a few calls and messages have gone into people who could easily deny it!' He subsequently stated that Holden will become head coach today. It is expected to be a three and a half year deal.

Cawley is also expecting 'other structural changes'. Anthony Hayes will still take the team against Brighton.

Richard Cawley has stated: 'Indications as well that there is or was set to be staff meeting yesterday, now today. Suggests that even chief executive role could be filled as that would usually warrant some more formal kind of announcement. Another source has confirmed Andy Scott is defo coming in.'

However, some other sources have denied that there will be a chief executive appointment today.

More from Richard Cawley here:

There are unconfirmed reports that Andy Scott will be director of football:,_born_1972)

After a long playing career as a defender, Holden has had primarily assistant or caretaker manager roles at Oldham Athletic, Bristol City and Stoke City:

He is available and presumably not too expensive.

Monday 19 December 2022

Sandgaard denies Mansour deal

There are conflicting stories on social media tonight but Thomas Sandgaard has denied that there is any deal with Mansour, although a new manager appointment may be imminent.

Richard Cawley states: ‘Thomas Sandgaard has just called me to deny that there is any deal with Mansour. Says he has never spoken to him or ever had any dealings with him. Also adds that Methven [formerly at Sunderland] is not going to be appointed to any role.’  [Rumours that he would become CEO].

Sandgaard also added that there is set to be an announcement tomorrow but "not about investment or change of ownership" but about "a change of personnel". He adds: "I'm hoping the fans will like the appointment."

Richard Cawley has also denied rumours that Lee Bowyer will be returning.

Peter Varney has stated: ‘I have nothing to do with Mansour nor do I know if he has any interest in the club. Please support the team on Wednesday and make it a noisy and positive atmosphere however negative you feel about our current predicament.’

Egyptian conglomerate interested in Charlton

Rick Everitt has stated: 'Interesting Charlton have been linked with FC Nordsjaelland as that is a name I’ve heard over many months as possible investors. Does pull together a lot of the strands of the story.'

They are a Danish team from North Zealand playing in their country's Super League:

The club is owned by leading African football academy Right to Dream which has itself seen Egyptian conglomerate Mansour Group acquire a majority shareholding.   Mansour, reportedly worth £2bn, has recently been appointed senior treasurer of the Conservative Party in return for his generous donations and is looking for an English football club to buy:

Thursday 8 December 2022

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Tuesday 6 December 2022

Ben Garner sacked

For once the rumours were right.  Ben Garner was sacked as Charlton manager this morning after taking training.  When Richard Cawley tried to contact the club yesterday, he got a formal denial.

Garner's tactics and team selections were criticised and I am not claiming that he was a genius.  However, any manager would have found it difficult to achieve the goals he was given on the budget he was provided with.

A balanced appraisal by supporter Ben Hayes was: 'Garner seemed to place his football philosophy above winning games. He wasn't backed financially and had ridiculous injuries but he was not getting the best out of what he had,'

Our greatest success has come with managers in place for some time: Seed, Lawrence, Curbishley.  Since Curbs left in 2006 we have been through 14 managers in 16 years.

There is a great deal to be said for managerial stability.  Apart from anything else, sacking managers costs money that could be spent on players.  At my non-league club we have had the same manager for 12 years and he has delivered steady performance on a small budget.

It will be interesting to see who wants to take on this poisoned chalice now.   Whatever happens, the owner can't be sacked.    Unfortunately, more fans may become disillusioned and cease being active supporters.

Louis Mendez has said on BBC Radio London that he would be surprised if Lee Bowyer wanted to come back.  Given the emphasis on the style of play maybe they would want another young manager who played it around at the back until everyone got bored and went home.

Richard Cawley commented: 'Kenny Jackett has been at recent matches. Not saying this with any info that he is in the frame at all, but he is out of work and available. Equally, Tom Watt might get a short-term crack at it.'

Jimmy Floyd Hasselbaink has also been mentioned (groan). If you have any good suggestions, put them in comments and I will organise an online poll in a few days.

Richard Cawley's take on the sacking is here: