You wouldn’t have to pay £40m because chairman Martin Slater stated in last Saturday’s programme, ‘Contrary to reports in the press, I have not told anyone that the club is for sale for £40m.’
However, Slater admits, ‘we have received numerous approaches from people claiming to be interested in buying the club … and the owners feel duty-bound to listen to anyone of ubstance with a credible plan that might help the club develop more quickly.’
You wouldn’t have to pay £40m because chairman Martin Slater stated in last Saturday’s programme, ‘Contrary to reports in the press, I have not told anyone that the club is for sale for £40m.’
However, Slater admits, ‘we have received numerous approaches from people claiming to be interested in buying the club … and the owners feel duty-bound to listen to anyone of ubstance with a credible plan that might help the club develop more quickly.’
Fans were also able to buy a copy of the Voice of the Valley fanzine which contains an artcle by Sky News City editor Mark Kleinman. He refers to a 21-page dossier prepared by one of the company’s leading accountancy firms which has been circulated to interested parties.
It doesn’t make for happy reading: ‘It depicts a portrait of a football club that without sustained new backing is dancing on the precipice of long-term stagnation, if not outright failure to comply with the new Financial Fair Play rules which come into effect in December 2014.’
The Addicks experienced an operating loss of £6.13m in 2011, £7.47m in 2012 and a projected £7.39m in 2013. In 2011 profit on the disposal of players reduced this to £3.77m, but such sales reduced the operating loss by only a little over £1m in the succeeding years.
Despite having the fourth-biggest average Championship attendance last season, Charlton were estimated to be ranked only 12th in the division by commercial income in 2012/13. The renegotiated sponsorship deal with Andrews Air Conditioning is said to have reduced in value from £220k to £180k.
The document also suggests that the club could relocate to a new stadium on the Greenwich Peninsula with The Valley used for social housing. Quite what the advantage of that might be is unclear given that the ground is more than adequate for Championship football and could be expanded if there was a sustained stay in the Premiership.
Kleinman concludes, ‘My City contacts who have worked on a string of football takeovers say they have little faith that a credible bidder will emerge, despite the obvious attractions of Charlton’s London location, comparatively modest wage bill and (so far) relatively serviceable debts.’
Voice of the Valley can be bought online at £2 plus postage.