Desperate?

Paul May ('Reams' on his Into the Valley forum) posted a bizarre message yesterday under the title "urgent plea to all Charlton fans." He says he was given the detail from a Charlton fan/businessman with connections at the club who is desperate to get the word out and put pressure on Thomas Sandgaard to complete his deal with the group who currently have exclusivity. I think I can guess who this has come from and from where he got it (Charlie Methven) - Sherlock Holmes not needed.

The first claim is that Sandgaard has upped his claim from retaining 20% of the club from 18% and that three American billionaires who are ready to spend £53m acquiring the club and it's assets (Valley and SL) are refusing to complete the deal until Sandgaard relents. 

I am pretty sure Sandgaard's ongoing interest in the club has always been mentioned as 20%, not 18%, so this doesn't seem right. The facts are that the takoever group, or at least the initial group, were an American investment house who were trying to raise £11m to fund their plan. That was based on an 80%  acquisition plan that allowed TS 20%. I have seen the paperwork and am very confident of this.

On that basis, it would seem more likely that the takeover group are trying to trim a couple of points off TS's agreed stake. This cannot amount to much in material terms - maybe as simple as 2% of the planned purchase price of £7m eg £140,000. So, three billionaire backers who are threatening to pull out over this? Doesn't stack-up. One billionaire backer would be hard to believe but three is make-believe, especially when the original plan was to raise £11m in total which involved offering relatively small stakes to individuals with share portfolios.

It seems far more likely that the Methven-pitch is failing and it's a shoddy attempt to sow some seeds of disgruntlement and a ready-made excuse if they lose their exclusivity this week and can't close the deal.

As for the rest of what Reams has posted, well it seems unnecesary to the main point and a tad desperate. The whole Chuks piece is hugely inappropriate to be exposed on social media, even if there is any truth in it.

I can't understand why TS would owe Duchatelet a £17m payment? It has certainly never been mentioned before. We know the 'club' was worth next to nothing when Sandgaard bought it and the fact that the figure he paid (including anything to Southall and the Fake Sheikh) was single figure millions was hard to contemplate on it's own.

Duchatelet was holding onto the assets and Sandgaard negotiated a 15 year lease extention in exchange for upping the annual rental from £150k to £500k. So why would he agree a £17m payment on top? It's never shown as a liability in the club accounts and even if it was as a side deal, what would it be for? 

As for players being lined-up this month but not brought in because of this? You have to laugh don't you. If that wasn't desperate enough and massively transparent, they want us to know that Martin Sandgaard (the pantomime villain) has a bigger office at the training ground than Dean Holden Holden (the pantomime hero). "The fans will go mad when they hear this."

I fully expect Sandgaard to weigh-in on this at an appropriate time. He will be keen to justify the size of his son's office! The next couple of days should be entertaining.