Wednesday 26 April 2023

Investment plea is for acquisitions

Richard Cawley reports: ‘Had further contact from Marc Spiegel's side regarding Charlton takeover. They say they are not looking for funds to run or acquire the club. They say the investment document circulating is to raise funds for some acquisition plans in the next 12-18 months.

Spiegel's side also say they have not been critical of staff or support. Say they had both "in the highest regard" and their desire is to "re-energise". They add they have "nothing but praise for what they have endured in last few years".

They also add that isn't a criticism of Thomas Sandgaard and that without his intervention there "wouldn't be a club" - "all credit to him for rescuing it".’

My hope is that the 600,000 Charlton fans in London don't turn up for the Port Vale game on Saturday.  Perhaps some of them will go to that other London club, MK Dons.

The investment document is a mixture of half truths and misconceptions, to put it mildly.  It doesn't speak well of the prospective owners.

£20m would largely be eaten up by two years' losses, unless some of the 600,000 turn up in SE7.

Spiegel aims to complete the takeover tomorrow (Friday):

CAS Trust are unsurprisingly pessimistic about the investment document (there is a link to read it in full) and explain where the mysterious 600,000 figure might have come from:

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