Methven's Pay-Off Bid

Charlie Methven's long-awaited statement on his consortium's failed takeover bid briefly hit Twitter this morning before being taken down. Presumably he did this on advice, possibly because he was forced to do so. His lawyers could have wanted it modified or he may even have had a writ from Sandgaard. Our friends at The Charlton Dossier, however, managed to copy it before it disappeared and here it is. What's missing when it reappears in edited form could be illuminating.

Using his 'SE7 Partners' vehicle that we uncovered back in December (and which he laughed off), Methven lays out the background and much of which we already know re the timeline and Sandgaard's decision to terminate with them. 

The crux of the statement really focuses on his demands going forward. His first empty option is that Sandgaard honours their original deal. That sounds very hollow now and is presumably there to support their previous demand that they would pursue that legally.

The second option and the meat of the statement is that "Mr Sandgaard to come to a reasonable settlement that recognises the costs incurred and time wasted." This would suggest the 90% operating costs of the club during their tenure as well as the salaries and costs of Methven, Rodwell and Warrick. We have already seen inflated estimates of these and you can imagine the cost of 'time wasted' would effectively be a doubling for 'lost opportunity.' 

The final option is really just a final threat to go to court if they don't get their pay-off which I suggest is yet more toothless barking having made the threats once before.

Sandgaard's response, if any, will be interesting but I suspect he is on solid ground and may well decide to be tested in court if they decide to take the risk. If Spiegal and Co are offering £4-5m more than Methven's mob it becomes even less of a risk for Sandgaard.