Monday 2 January 2023

Uncertainties surround takeover deal

Rick Everitt reviews the latest evidence on takeover moves at Charlton following the presence of Charlie Methven and former Oxford United director Simon Lenagan at yesterday's game.   His conclusion is that 'something doesn't add up':

It appears that just £3.3m of the £11m takeover price would be working capital which, given that the club can expect to lose around £6m a year, 'doesn't touch the sides'.   Prospective investors have told that there is the prospect of draconian savings, including on the football side.   But how would that help the club to get out of League One or even stay there?   

There is also uncertainty about the £12m of loans provided by Sandgaard.  Roland, of course, still owns The Valley and the training ground and wants £50m for them.

To me this all smells like the Thames did in the 1950s.

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