Wednesday 14 December 2022

CAFC - What happens next?

On Monday night, the Charlton Athletic Supporters Trust (CAST) held a well-attended Zoom call with over 500 of the club's supporters to discuss what should be done to help move the club forward in light of the unpopular sacking of Ben Garner, the appointment of an inexperienced caretaker manager, the club sliding into 18th in the table and a much-rumoured takeover in the offing. 

The call was useful in terms of supporters airing and sharing their concerns but ultimately it was an exercise in gaining an on-call sign-off to an 'Addicks Charter' which CAST hopes to use at some point in the future to help reset relations with the next and subsequent owners of the football club. In the meantime, it won't help us in any significant way. You could also argue that CAST and the supporters are limited in what we can do to influence things in SE7. That may well be the case but sometimes you have to do whatever you can, however small or ineffectual it may seem.

I think we would all like to think that Peter Varney's rallying call for Tuesday's League Cup match against Brighton was carefully planned to coincide with a huge reveal of new owners who have acquired the Valley and Sparrows Lane, taking on the running of the club and the month-to-month debts, whilst launching an ambitious plan to transform the club's fortunes and finally get us back in the Championship.

Realistically, that is very unlikely to be the case. These deals are invariably tortuous and information leaks well before conclusion - they have long lead times. So far, what we have heard from the usual sources suggests that Sandgaard's death throes (Help! Break-Even!) have been picked up by a few interested parties and there is conjecture in line with previous failures to acquire the club but nothing that suggests any advancement in terms of a deal. It's been suggested that Duchatelet (or his son) may be ready to do a deal on the Valley, but unless they are willing to get realistic on prices, they won't get anywhere, and I don't see why they need to sell now - he and his family are worth far more money than he can ever spend and his main business continues to generate a cash mountain - they can wait in the hope of a one-day bonanza.

Timing is key here. It's no surprise that once again a deal is rumoured to be kicking off ahead of the January transfer window. Sandgaard is bleeding £500,000+ per month and will be dreading another poor window and the mountain of abuse that will accompany it. It has been suggested that he is ready to strengthen the squad but he simply has to say that given the state of the squad and the growing threat of a relegation battle. In practice, of course, he isn't going to burn more cash he won't get back from any new owner, so it will be more shuffling of deckchairs on the Titantic. If his recruitment team dare revisit Macauley Bonne, then I am done with them forever. He will need to move players on to fund wages of any incomers so it's hard to see any obvious 'strengthening.'

In the meantime he has said that recruitment of a permanent manager will take "weeks not days." This is expectation management and confirmation that he really doesn't want to be judged on what I suspect would be another least-cost manager with less-than-obvious credentials to get us promoted. It won't help that the word is out following Garner's sacking that you won't get proper backing under Sandgaard, so are on a hiding-to-nothing. Delaying appointment of a permanent manager when the team is sliding down the table is negligent but it will save Sandgaard more money, and that's his stated priority. 

Sandgaard is due to face the Fans Forum tomorrow in what should be more direct and aggressive than we have seen previously. Let's hope we don't have to wait the usually lengthy delay in getting the minutes - someone just needs to spill the beans - no-one cares any longer if Sandgaard doesn't like it. CAST have already voiced no confidence in him and a desire for him to sell-up should dominate proceedings. If he doesn't cry-off, he will come armed with weasel words and some diversionary tactics (eg dishing some dirt on Garner in a bid for revenge and to curry favour) but telling supporters not to worry about the running of the club and to concentrate on supporting the team isn't going to wash this time. It's also high time that the Fans Advisors resigned and directed all future communication with the Great One through the Club's Supporter Trust which is the largest and most representative grouping of fans. Clinging to their roles now only allows Sandgaard to control the messages and avoid direct CAST scrutiny. 

Then next week our cup runs for this season will end and we should hear if there is anything worthy of note happening a la Peter Varney. My strong suspicion is that we won't hear anything and that Christmas and New Year will be upon us. The transfer window will open with no significant Charlton activity and we may hear about Leaburn returning to the team (if there is no interested buyer). Daniel Kanu may even get a game if Anthony Hayes still can't find goals or points. Chuks is due an injury and Stockley needs to re-find his mojo. Sandgaard will say we are trying to get something done but that it depends on other moves and that it might need to wait until the end of the window (it's too late again). Personally, I think he will bring in a couple of loans and move a couple out to justify some activity but spend nothing and change little. Anthony Hayes will make some supportive noises....

Come February, we are likely to be in League Two trouble if talk about new ownership is still rumour or conjecture, or indeed, if someone breaks cover and throws the towel in because of Sandgaard or Duchatelet. At that point, Tommy-Boy may well have to give the club away if he can find someone willing to carry the losses. If not, Administration becomes a sad possibility and that's unattractive given the priority of the £7m former Directors loans. 

So, what can us ordinary supporters do? I am not sure there is the appetite for anymore of the traditional protests. There is likely to be individual or spontaneous efforts and I expect the Covered End to make it clear and uncomfortable for him. Beyond that, gates will continue to drift along well below the season-ticket numbers and the walk-up gate won't improve. A boycott is all that is left but it is happening in effect already and I can't see any material leverage beyond the continuing embarrassment of empty stands and little atmosphere - the loss of revenue will be negligible on his standing order. I suspect we will see even less of him too as he avoids the unpleasantness. As I said, however, we will have to do whatever we can to make our point and force Sandgaard out. It may come down to us individually or in small groups to make a collective difference. 



6 comments:

  1. A large number of fans we agree with your sentiment to see the back of TS, including myself.But we have to have a coherent case for what may follow.How many people are willing to take on that £500k loss a month? TS selling up for £1 to Matt Southall Mk2 must be an attractive option for him to stem the losses, but would leave the club and us in a worse position, on giddy helter skelter downward spiral. I don't have any solutions except to make the the club look as attractive as possible by attending the Brighton game and crossing my fingers that PV is on the right track. I also hope that as many other fans will do the same (if they can in the current cost of living crisis)

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    1. No-one knows who will be willing to take on the losses or how many people might be. The facts are that running a football club still offers some chance of significant returns on top of the kudos and PR, if you can do it successfully. Obviously, a plan for Charlton would need to bake in a season or two of losses as well as expenditure to challenge for promotion. A promotion run in itself would improve revenues. It's a risk we have to take because we are heading down otherwise.

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    2. As I understand it you have to add around £15.5 million that TS has loaned the club payable on demand when he wants. As was indicated by the financial guy on the cast meeting we could not mmet that demand and if we wanted the Valley and SL add another £50 million or so, and it suddenly makes us look a lot less attractive to a new buyer not as easy to find the answer to this conundrum.as some think.

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    3. 'Loaning money to the club' to pay it's costs/debt is an accounting ruse. They do it in the hope the club becomes profitable and can eventually repay the debt. As we can see there is zero chance of that any time soon. No-one is going to pay him for all the money he has lost. All the club is worth is it's assets minus it's debts. He is in net debt for practically everything he has loaned and will have to settle up when he shuffles off.

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  2. You paint a pretty dire but sadly realistic picture. The end (L2) is nigh.

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  3. Nothing to add to what you say Dave. Well put.

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