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. 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: https://drinkingduringthegame.blogspot.com/2022/12/oxford-away-home-game-for-our-would-be.html?m=1
It is difficult to say whether this is a tragedy or a farce, probably both.
