Charlton were close to having to sell a key player to pay wages until Thomas Sandgaard acquired the club, Lee Bowyer has revealed: https://londonnewsonline.co.uk/charlton-athletic-boss-lee-bowyer-we-were-close-to-having-to-sell-a-player-to-pay-wages/
Tuesday 29 September 2020
A charge over CAFC Limited which was issued on January 23rd in favour of Roland Duchatelet to secure debt to him has just been released, according to a Companies House notification tweeted by VOTV editor Rick Everitt.
The Rickster explains: '
Sounds as if Charlton have two right-back options - one of those is Adam Matthews, reports Richard Cawley of the SLP.In the words of Highlander "there can only be one". Set to be resolved today/tomorrow in terms of which way the Addicks go states Cawley.
Monday 28 September 2020
Lee Bowyer told Richard Cawley of the SLP: 'We need to bring in a striker who is going to take them chances we’re creating. We can’t keep doing that - missing chance after chance after chance. We need someone who is going to finish.'
'We had someone here and he went back home because things changed in the middle of the week. But now I hope to get that back going and get him back into the building next week.'
'I could have left on more than one occasion but I chose to stay because I want to be the person who takes Charlton back to the Premier League. It will take time but Thomas is here for the long haul and I want to be a part of that. I believe we'll get there.'
'I'm happy we can start moving forward and building - that's it. I'll sleep better now. I feel exhausted. I can't tell you how many sleepless nights I've had or waking up - seeing things get worse and worse.'
Richard Cawley tweeted on Monday afternoon: 'Doesn't sound like there is set to be any signings at Charlton today. Obviously work going on behind scenes to line things up.'
Cawley added: 'The trialist in action for the Addicks this afternoon is Ruben Carvalho, who had been with Aylesbury United.'
SLP report on yesterday's game: https://londonnewsonline.co.uk/charltons-defeat-at-lincoln-city-only-underlines-urgent-need-to-strengthen-squad/
West Bromwich Albion are targeting former Addick Karlan Grant. They are prepared to pay Huddersfield £5m for a one year loan move and a total of £18m to sign him if they avoid relegation. Apparently our cut on the sale would be £2m - £3m, presumably nothing from the loan.
Sunday 27 September 2020
A new era may have started for Charlton off the pitch, but it was a poor start on the pitch this afternoon after the Addicks went down 2-0 to Lincoln City at the LNER Stadium. All they left with was a collection of yellow cards.
Charlton had edged the first half at least in terms of chances, but then saw Lincoln score following a penalty on just past 45 minutes. The Imps appeared to be offside.
In the second half Charlton played less well. Lincoln often had possession and the final ball by Charlton was lacking. Bonne and Washington did not link up as well as they had in the first half. Lincoln then scored their second in the dying minutes of normal time after Charlton had carelessly conceded a corner.
Washington had one of the best chances of the game after three minutes when Doughty turned provider, but put the ball just wide of the post.
Charlton had a spell of pressure and then won three corners in succession around the half hour mark, but to no avail.
Charm merchant McGrindles received the first yellow card of the game for a foul on Levitt. A Lincoln free kick from a dangerous position was blocked.
As the half came to a close, a free kick was awarded against Pratley for an alleged handball. As the ball was cleared from the area, the referee awarded a penalty. I wasn't sure what it was for, but he was decisive.
Amos saved the penalty, but Grant put the ball in the net from the rebound. They seemed to be offside and the referee and linesman had a discussion. Apparently, they weren't sure whether it was offside or not, so decided to award the goal. Captain Darren Pratley was furious and an equally furious Bowyer remonstrated with the referee as he walked off the pitch.
Half time: Imps 1, Addicks 0
It was a lively game again in the second half. Fameno was pulled off on 60 minutes for Watson. He had seemed comfortable, but perhaps he can't play 90 minutes.
On 65 minutes Barker put in a great cross to Bonne, but he was unable to use it. I thought that Bonne had a disappointing game.
Pratley received a yellow card on 75 minutes. Charlton made a double substitution with Otzumer being replaced by Forster-Caskey and Williams coming on for Levitt. Williams made some positive contributions.
Watson took a yellow card for the team and then Eyoma received one for following Doughty. Lincoln had most of the possession. Barker received a yellow card for repeated fouls.
Osilaja, who had had a decent game up until then, played the ball along the line to Amos and conceded the corner. Lincoln then scored through Montsma from a free header.
In the six minutes added on, Forster-Caskey received a yellow card for a foul while Johnson was given one for kicking the ball away.
There's a lot of work to do.
On 65 minutes
Saturday 26 September 2020
A big improvement is needed against Lincoln City at Sincil Bank/the LNER stadium tomorrow say CAS Trust in their preview, classifying the performance against Doncaster as 'the most dispiriting under Lee Bowyer's management': https://www.castrust.org/2020/09/lincoln-time-to-restore-some-pride/?utm_source=rss&utm_medium=rss&utm_campaign=lincoln-time-to-restore-some-pride
Despite the boost given by the takeover, it has only been possible to minimally strengthen the squad so far. One crumb of comfort is that we have a good record against the Imps.
The Imps finished 16th in League One last season and Four Four Two are predicting a 10th place this season. They comment: 'Expect more from the Imps this season. Michael Appleton made do with a squad to play very differently from his own way and just as he toiled at Oxford before winning promotion in the second campaign, he should give Lincoln an edge.'
The contributor of the 'fan file' says: 'The fans' opinion of the gaffer is split, although the bigger group are firmly behind him. He's very different to Danny Cowley and some have trouble accepting that era is over. We'll finish 15th.'
Busy ex-West Ham forward Anthony Scully is a potential danger man.
Ben Watson is the first signing of the Sandgaard era: https://londonnewsonline.co.uk/charlton-athletic-sign-former-forest-and-palace-midfielder-ben-watson-to-kick-off-thomas-sandgaard-reign-in-style/
Richard Cawley of the SLP commented, 'Yeah, he is 35. But coming off a really good season for Forest. Convinced he'll be quality for Charlton.'
Forest boss Sabri Lamouchi - speaking in September - said: “He had an amazing season – probably one of the best midfielders in the Championship. He was my captain and my brain on the pitch, so just for that, ‘thank you so much’."
We can do with experienced players alongside our youngsters.
Friday 25 September 2020
In an open letter to Charlton fans, Thomas Sandgaard said he wanted them to know before anyone else that he had completed his acquisition of the club. This is now available on the official site: https://www.cafc.co.uk/news/view/5f6dd60385c8a/an-open-letter-to-charlton-fans-from-thomas-sandgaard
Sandgaard has confirmed that he has passed EFL's OADT test and that he expects official confirmation that the transfer embargo is gone - adds "it kind of is already".
Richard Cawley reports: 'Sandgaard's deal has seen him increased the lease on The Valley and TG to 15 years. Says costs on that side have risen as part of deal with Duchatelet. It buys everyone peace of mind that we'll keep playing at The Valley and have the training ground."
Thomas Sandgaard: "There won't be any drama. There is nothing to be nervous about going forward - we can focus 100% on the club and getting back to the Premier League."
Thomas Sandgaard describes it as "an entirely clean deal of everything - versus before when things were interconnected in some way. That is totally undone, otherwise we couldn't have done deal."
Sandgaard on the lease of the land: "It might be the right time to negotiate on those then [at some stage towards end of the agreement]."
Four signings are ready to go, one of them Adam Matthews, reports Richard Cawley.
Richard Cawley of the SLP reviews Charlton's financial situation given that matches are likely to be played behind closed doors for six months. He estimates losses of £10m. There has been no response from the club on how salaries will be paid: https://londonnewsonline.co.uk/efl-finally-make-a-statement-but-its-not-the-one-that-charlton-fans-have-been-waiting-so-long-to-hear/
Thomas Sandgaard said he couldn't comment on whether he had been approved by the EFL - which has certainly been suggested in some quarters, reports Richard Cawley of the SLP.
He's back in Colorado - flew back there shortly after last weekend's game against Doncaster. His dialogue over striking a deal for The Valley and training ground has been with point man Lieven De Turck - not Roland Duchatelet.
Sandgaard: “It’s tearing me apart that I can’t tell people everything because it is not that far away. I just want to be able to say it is all official – clear and clean – and that we can start bringing players in.”
Alex Gilbey has been ruled out of the trip to Lincoln on Sunday after picking up an injury in training: https://londonnewsonline.co.uk/charlton-suffer-midfielder-injury-setback-as-thomas-sandgaard-says-it-is-tearing-him-apart-not-to-provide-takeover-update-to-fans/
Thursday 24 September 2020
After ten years in Florida, former Addick John Robinson has returned to England and is working with Haywards Heath Football Club: https://www.westsussextoday.co.uk/sport/football/haywards-heath-fc-link-former-charlton-and-brighton-star-boost-footballs-next-generation-2981497
Thomas Sandgaard has tweeted: 'Wanted to give fans an update. Discussions have been moving forward positively so far, however the property piece remains an obstacle.' [Does he mean 'price' rather than 'piece'?]
Either way, VOTV editor Rick Everitt has tweeted: 'Oh look, it's Roland again, like every time in the last five years.'
One fan commented: 'This £50m will be a block to any bidder that wants to own the lot. All because Roland took ESI at face value and didn't do due diligence. We've got to be into double figures of interested parties that he's ruined negotiations with.'
Sandgaard also tweeted: 'If we can’t agree immediately, the players we have lined up to sign will go elsewhere and that would ruin our season. I personally don’t want to be part of a scenario where we cannot sign the players lined up. Let’s get this done.'
Wednesday 23 September 2020
Following a positive test for Chuks Aneke, no more Charlton players have succumbed to Covid-19. Aneke played in the Carabao Cup game at West Ham where former Addick loan player Josh Cullen, maestro manager Moyes and one other player tested positive yesterday: https://londonnewsonline.co.uk/charlton-athletic-report-no-extra-covid-19-cases-as-west-ham-trio-test-positive-this-week/
With a thin squad we can't afford to lose any more players.
Tuesday 22 September 2020
With fans banned from grounds for the forseeable future, one source of revenue for clubs, admittedly a relatively small one, is from streaming games. Here the chairman of Colchester United explains how the finances work. On the whole, it should work quite well for Charlton given the size of our support base:
Monday 21 September 2020
Lee Bowyer has said that no acceptable bids have been received for Macauley Bonne with Barnsley said to be the latest club to express interest: https://londonnewsonline.co.uk/charlton-athletic-manager-clear-on-transfer-stance-over-striker/
Bowyer noted that Charlton had paid £200,000 for him. BTW, it would be interesting to know who the 'people upstairs' Steve Gallen refers to for decisions are.
Saturday 19 September 2020
It was a frustrating afternoon for the 1,000 fans let into The Valley as Doncaster Rovers secured a 3-1 victory over Charlton.
Following the midweek Carabao Cup fixture against West Ham United, Lee Bowyer has brought Connor Washington, Alex Gilbey, Jake Forster-Caskey and Albie Morgan back into the starting XI, whilst Charlie Barker makes his second league start for the club.
Ben Amos continues in goal whilst Barker, Deji Oshilaja, Darren Pratley and Ben Purrington make up the defence. Forster-Caskey will once again feature in the centre of midfield alongside Morgan and Gibley with Alfie Doughty operating on the right-hand side. Debut goal scorer Connor Washington will once again take position on the left, with Macauley Bonne looking to open his account for the season through the middle.
Josh Davison returns to the bench for the first time this season alongside fellow academy graduates Ashley Maynard-Brewer, George Lapslie and James Vennings. Erhun Oztumer, Jonny Williams and loanee Dylan Levitt make up the bench, after all three featured at the London Stadium in midweek.
Jason Pearce remains out and will be in the Valley Pass commentary box for today's game, while Chuks Aneke misses the game through illness.
to provide source and sufficiency of funds to ESI1. He’d have to make sure they couldn’t run off with his money and that ESI2 couldn’t get it, obviously.'
The Rickster continues, 'Since he’s applied for the OADT he’s not in the same place as Farnell, who hadn’t applied when made a director of ESI. Unlikely EFL could or would disqualify him as a relevant person. Sequence of events might matter.'
The presence of 1,000 Charlton fans in The Valley this afternoon will make a difference to the intensity of the game, says Doncaster Rovers boss Darren Moore: https://www.doncasterroversfc.co.uk/news/2020/september/moore-believes-fans-will-make-a-difference/
Moore said it will be a tough game for the visitors who have to improve their passing game and show greater fluidity.
Sky News had an item last night on the preparations for the game with extensive shots of The Valley and the reporter leaving through the turnstile. Lee Bowyer was interviewed, apparently from his gaff.
Doncaster Rivers finished 9th in League One last season and Four Four Two forecast a 8th place this season. They comment, 'Doncaster appeared capable of breaking into the promotion reckoning at times last season, only to be undone by inconsistency.'
Rovers were once known as the Butterscotch Men, but changed their name to The Vikings. The contributor of the fan file states: 'This season will be different to last because we won't have Kieran Sadler to bring one in from 20 yards in the absence of a real goalscorer up front. It could be a long season.' He forecasts a top half finish without troubling the play offs.
The CAS Trust preview notes the contrast with the play off semi-final sixteen months ago: https://www.castrust.org/2020/09/doncaster-a-slightly-less-momentous-occasion/?utm_source=rss&utm_medium=rss&utm_campaign=doncaster-a-slightly-less-momentous-occasion
Friday 18 September 2020
PR have made a second bid for Macauley Bonne: https://talksport.com/football/efl/761254/championship-transfer-news-qpr-charlton-bid-bonne/
However, Charlton have made it clear he is not for sale.
Thursday 17 September 2020
Richard Cawley of the SLP reports: 'Just spoken to Thomas Sandgaard. He's made it clear still wants to buy Charlton - but also indicating not prepared to make deal with Lex Dominus.. Says it goes against his own "personal integrity".'
"I'm working with some of the smartest people to figure how how we make that happen without dealing with certain people."
Sandgaard saying he will be back in UK on Saturday for the Doncaster match."Right now I've probably got more stubborn than ever. I'm even more determined now."
Sandgaard: "What really matters to me now is we show the world that the fans want this deal done. That might actually have an impact - and obviously I'm hoping the EFL will take notice."
Richard Cawley comments: 'One of the key questions, to my mind, is whether the EFL would approve any takeover while this case is ongoing. [Probably not in my view]. If the answer is no, it would give us slightly more clarity on things.'
Thomas Sandgaard has tweeted: 'If you still want me, @SandgaardThomas, as the owner please change your profile picture to the Charlton logo to show your support.' This strikes me as a bit naff and gimmicky, but some well-respected fans have already done it.
The appeal has been allowed and an injunction granted until November. The case will be heard on November 23rd.
This is no surprise to me given the evidence put forward and the interventions by the judges. This is a dispute between two parties and the well-being of the club and its fans have little or no standing in legal terms.
I doubt whether the EFL will move to expel Charlton given the collapse of Macclesfield and problems at Southend, but the transfer embargo is likely to continue and there may be other sanctions.
Fanzine editor Rick Everitt has commented: 'The very widely circulated idea that this hearing doesn't matter because Thomas Sandgaard
Judge paid tribute to Lauren Kreamer's efforts in his judgement - I think he was acknowledging that she did the best she could against an experienced QC with very inadequate evidence from Marian Mihail and Panorama Magic. No reflection on her.'
Richard Cawley of the South London Press has tweeted: 'If this doesn't get resolved somehow - and very quickly - the player deals Charlton have lined up are gone. There were four ready to go, in terms of incomings. But that pales into insignificance if club goes into administration.'
Court states that Judge was right to conclude that if injunction refused LD will have lost opportunity to buy unique asset. Ownership brings intangible benefits that cannot be compensated in damages. Appeals turns on whether Panorama could be adequately compensated by damages. Rick Everitt comments, 'At first sight, judge's conclusion is counter-intuitive.'
LJ Lewison finds judge's view that it would lose opportunity to sell difficult to understand. Panorama has provided no evidence of impending sale or its terms. Nearest is saying that it is committed to finding a buyer, who would also have to pass EFL tests. "Panorama must live with its decision to remain silent".
Lewison: What impressed previous judge was evidence of Mihail about potential consequences for the club itself. [But my interpretation these are not material to the case].
ESI that has not shown it was not able to finance the club sustainably. Quite unclear how grant or refusal of injunction would affect EFL sanctions. Mihail's evidence depends on scenario that Elliott wins at trial and can't operate club. Should look at what happens if LD fails at trial. Difficult to see how Elliott can fall into relevant person category in that situation.
Hard to see how grant of injunction would put the club at further risk. Embargoes in place before the SPA signed and arose out of ESI, not LD. Mihail does not explain what continuation of embargo caused by injunction. We also know club has begun season.
No explanation of how embargoes would be lifted if the injunction is refused. Gallen's evidence is that would affect transfer windows, but no ability of club's ability to pay for any players if the injunction is lifted.
Gallen gave evidence that performance and income would improve but no evidence that this would happen. Unsafe to assume that loss of income translates pound for pound into share value.
Mihail does not give any evidence about how the issues could be resolved in the time between now and the trial in November. Would be a "bold move" to expel the club while Elliott's OADT its under appeal. Pearce supplied the wrong legal hypothesis.
Interim costs of £25k were granted.
Proceedings have started on time in the latest case involving Charlton. Lauren Kreamer is representing Panorama Magic, with Paul Chaisty for the applicant, Lex Dominus, as before. Judges are in. Lord Justice Levison and Lord Justice Males.
Chaisty is arguing that Gallen evidence is not relevant, reports Rick Everitt. Respondent has produced no evidence whatsoever to explain state of negotiations with third party in any sale - the current state of play - says Chaisty.
Chaisty: "There is no evidence from the respondent as to what it might lose in terms of financial consideration if an injunction is granted until November. There is total silence in respect of that. No evidence from respondent to show what the position is going to be if an injunction is refused." (reports Richard Cawley)
No evidence as to what contract, price or date of completion or identity of third party, says Chaisty. Extremely important if respondent says irremediable damage if injunction granted. No evidence third party would disappear either. Mihail's evidence is speculation about what risk to the club is in injunction grated, but nothing to show what happens if it isn't - Chaisty (via Rickster)
about the position which might prevail in a range of scenarios. Doomsday scenario disproved by the fact that the club has started the season, says Chaisty. Court left with speculation about potential consequences but with no evidence to form a view as to likelihood.
LJ Lewison says Mihail sets out hypothesis that injunction is granted and LD succeed at trial then ties consequences to that scenario. So to determine whether damages are an adequate solution for Panorama is that injunction is granted by LD loses at trial.
LJ Lewison says that Judge Pearce's ruling may be based on the wrong hypothesis. Chaisty says that MM assumed that Elliott's disqualification is final ruling, which is false.
Elliott pursuing right of appeal with arbitration panel, says Chaisty. EFL disqualification based on misleading evidence provided by Elliott about the SPA. MM's evidence has no foundation because there is an appeal process.
Chaisty saying Paul Elliott pursuing an appeal to overturn the EFL decision on August 7 relating to the OADT ruling."If he succeeds at trial we know damages will not be an adequate remedy. Panorama is a company based in Abu Dhabi with no money."
LJ Males says more fundamental point is whether Mihail has given any evidence about what will happen if injunction granted and claim ultimately fails.
Chaisty saying Mihail's evidence that Elliott can no longer appeal the EFL verdict is "totally misconceived". Basically MM saying that SPA agreement alone wouldn't be enough to push through a deal for CAFC. Chaisty making point that individual can appeal OADT test.
Both judges have wanted Chaisty to focus on Mihail's witness statement, that's why we're on that subject now.
No evidence put forward that EFL embargo will change if the injunction refused, says Chaisty. Mihail suggests club will be expelled if Elliott owns club but cannot be a relevant person under EFL rules. Chaisty says this ignores commercial position for LD.
CAFC Facts and Stats comments, 'Mihail getting hammered again.'
Only statement re third party is that Nimer remains committed to finding a buyer. Court unable to find evidence from Mihail that ESI would suffer any harm from injunction, says Chaisty.
Steve Gallen's evidence criticised for making statements as if they are based on fact. Gallen not now a director of the club, Chaisty tells judges. Gallen explains reason for embargoes, and suggests that cause of them remaining is Elliott's disqualification.
LJ Lewison says not down to Elliott, underlying documents show that ESI has failed to satisfy source and sufficiency of funds. LD hasn't reached that stage with the EFL. LJ Lewison making clear that EFL embargo is down to ESI not passing the governing body's criteria.Chaisty - source and sufficiency of funding for PE has not been dealt with yet. "Mr Gallen is confusing my client with ESI when he says they've had seven months to provide EFL."