Thursday 17 September 2020

The agony continues...

So no glad tidings yesterday as predicted...

Two judges in the Court of Appeal today agreed that Charlton Athletic is an ongoing ownership disaster with a professional football club and 115 years history attached. Ignoring some very obvious questions, they have followed the letter of the law and decided that Paul Elliott's appeal against Taynoon Nimer and Matt Southall's sale of the club should go ahead and will now be heard in November.

What became very clear today was that Panorama Magic have played this poorly and were today trying to bring in evidence and questions which have not previously been brought to light. Judge Lewison summed up saying "Panorama must live with its' decision to remain silent" on aspects of the trial, like explaining the solidity of Thomas Sandgaard's interest. Marian Mihail has been complicit in this in addition to managing to discredit himself which giving contradictory accounts as to ownership of the club. I can only assume this has been deliberate but I am struggling to see how it might benefit Taynoon Nimer and his Romania Directors.

We learnt today that Paul Elliott claims to be worth £12m. Much more than many had given him credit for but even Appeal Court Judges must question what he's doing trying to play Football Monopoly. The fact that he claims to be £500,000 down so far might demonstrate his ownership conviction but you really have to question what's going on here given the ownership liability and his ability to run the club for any length of time without significant additional funding. No-one in their right mind would lend you money on that basis today. The obvious answer is that he's fighting for the right to sell the club and from that perspective alone he has a right to pursue his case. 

As things stand, Charlton Athletic, the League One football club with ongoing ownership issues, faces missing out on it's chance of taking any further advantage of the transfer window which threatens to scupper this season. There is also the prospect that Paul Elliott may not be able to find a satisfactory buyer, in which case Administration could well loom large once again and the future of the club be put in jeopardy.

All of the above ignores the fact that a Danish multi-millionaire has been all over the acquisition of the club like a rash and has told us he is 100% confident of buying the club. In the circumstances, I am expecting a statement from Thomas Sandgaard before it gets dark, informing us of his current position and what this all means for him. He has been confident he could close a deal in short order and has not denied the speculation that a deal is imminent. 

Come on Thomas, lift the spirits here!

1 comment:

  1. It would seem it is out of Thomas Sandgaard's hands until the conclusion of the hearing in November. Is there anything else that can be done to try to destroy this football club?


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