Salmon Pants buys Charlton Athletic

[Grumpy Old Man]

I wonder what the general consensus would have been if they’d just put this out there at the time instead of playing billy big bollocks.

A lot of people even now believe they pocketed the parachute payments, but in reality they were used to clear the last £25m of the clubs debt, and as such used as designed, to help relegated clubs adjust to the reality of relegation.

By telling lies in the very first press conference, it was always going to end in tears.

The sensible thing would have been to have left the £25m in the club as an amount manageable from the club's own resources. As the debt was payable by August 2019, it would have had to come from the parachute anyway. People may have grumbled about that, but it would have been transparent and soon forgotten about.

 

[Ghfd]

Should sign Grigg

 

[beezer]

The sensible thing would have been to have left the £25m in the club as an amount manageable from the club's own resources. As the debt was payable by August 2019, it would have had to come from the parachute anyway. People may have grumbled about that, but it would have been transparent and soon forgotten about.

I remember Donald stating in one of his roker report interviews that he ‘didn’t want the debt‘ as if he was doing the club a favour by not taking whatever tax advantages came with it.

I think they mistakenly thought that we were too thick as a fan base to get to the bottom of things. Fortunately there are people like yourself and that Chris on twitter who have a better grasp of accounting and finances than the rest of us and are willing to take the time to explain things for us less educated.

 

[Its Him Again]

Paid a lot considering

 

[Red and white TID]

they did buy it with their own monye though.,..

No they didn’t

I keep hearing how they "stole" the clubs money !!

How come kLD or someone else not called the plod in that case ???

Or is it an exaggeration?

They took the parachute payments to pay for our club, as for you’re question on KLD bringing in the plod as you put it, why would he care how the wrong uns bought the club, it wasn’t illegal, was it morally right 100% not in my opinion no or many others for that matter.

But what went on previously didn’t really matter to KLD imo, he just wanted Safc & clearly wanted them gone asap, which he has now achieved (well if you don’t include Sartori) although KLD himself told everyone the porky that had he had over 50% of shares in the first year when he didn’t, so he’s not perfect either.

It's an exaggeration. The money went to Short, and ended up in the hands of the US bank that loaned SAFC £70m in 2014 (Short paid off all but that £25m, which he then moved into Drumaville when the deal went through).

Loyal to the bitter end.
Your title should say Grumpybutloyaltoanyonewhobuysmeadrinkoldman.

 

[kildaremackem]

No they didn’t

They took the parachute payments to pay for our club, as for you’re question on KLD bringing in the plod as you put it, why would he care how the wrong uns bought the club, it wasn’t illegal, was it morally right 100% not in my opinion no or many others for that matter.

But what went on previously didn’t really matter to KLD imo, he just wanted Safc & clearly wanted them gone asap, which he has now achieved (well if you don’t include Sartori) although KLD himself told everyone the porky that had he had over 50% of shares in the first year when he didn’t, so he’s not perfect either.

Loyal to the bitter end.
Your title should say Grumpybutloyaltoanyonewhobuysmeadrinkoldman.

thwy didnt take the parachute payments because they never had them...w;lis short took them..
sorts final act was to make morons of the fans and of donald by stitiching donald up..donald nad sartori paid the orice agreeed for the shares ad shirt made complete morons of them..
to say they took the paparachute money in light if all the evidence is scakdalous..really diusgusting behaviour that plays into the hands of the person whose acxount the mpmney went into..

 

[SaintJude]

thwy didnt take the parachute payments because they never had them...w;lis short took them..
sorts final act was to make morons of the fans and of donald by stitiching donald up..donald nad sartori paid the orice agreeed for the shares ad shirt made complete morons of them..
to say they took the paparachute money in light if all the evidence is scakdalous..really diusgusting behaviour that plays into the hands of the person whose acxount the mpmney went into..

Charlie keep it shut. You can’t defend them in any way. They took money from the club without any intentions of paying it back

 

[riffraff]

thwy didnt take the parachute payments because they never had them...w;lis short took them..
sorts final act was to make morons of the fans and of donald by stitiching donald up..donald nad sartori paid the orice agreeed for the shares ad shirt made complete morons of them..
to say they took the paparachute money in light if all the evidence is scakdalous..really diusgusting behaviour that plays into the hands of the person whose acxount the mpmney went into..

I normally just quieten you down by posting that allowing ES to structure the deal like that was the only way they got the club. If they’d said “No ES no” then he’d have hoyed an extra £25m on the asking price.
If that’s not “buying the club with its own money“ then it’s in the same postcode.

 

[Lord Potts]

I normally just quieten you down by posting that allowing ES to structure the deal like that was the only way they got the club. If they’d said “No ES no” then he’d have hoyed an extra £25m on the asking price.
If that’s not “buying the club with its own money“ then it’s in the same postcode.

Exactly it is obvious that Mutt & Jeff took the decision to accept Short's deal because their purchase of the Club would have been an unviable proposition for them unless the parachute payments were used in that way. The manner in which the Club was run after their purchase certainly suggested that they had been stretched to their financial limits when acquiring it.

More prudent purchasers would have ensured that they could meet Short's price and that the Club was left with more than enough funds to get itself out of League One within a season. God knows that wouldn't have taken billions.

 

[DEfromBC]

thwy didnt take the parachute payments because they never had them...w;lis short took them..
sorts final act was to make morons of the fans and of donald by stitiching donald up..donald nad sartori paid the orice agreeed for the shares ad shirt made complete morons of them..
to say they took the paparachute money in light if all the evidence is scakdalous..really diusgusting behaviour that plays into the hands of the person whose acxount the mpmney went into..

I think your keyboard is f****d

 

[G Force]

“Doesn’t matter what you play unless you get a new P.A. System.”

*…Fuck.*

Like a David Brent type moment there.

 

[Thrall]

I honestly think the stick that Methven gets is OTT. It mainly stems from his ill-thought-out comments about our fans, but in the main are true, fans frequently chimed up with opinions and suggestions without having the first idea about running a business themselves. It also worked against him that he was southern and likely a tory (the hate/dislike for anyone with a different political stance on here is baffling).

He'll probably end up turning them around and inviting additional investors on board. At the very least he must have had some sway in attracting Sartori's investment and then subsequently KLD, even if he was invited to the table by Sartori (unsure if this was the case).

I hate the **** for none of the above. Him and his mate came here to make a quick buck, sold our assets and robbed us of our parachute payments.

 

[chunksafc]

thwy didnt take the parachute payments because they never had them...w;lis short took them..
sorts final act was to make morons of the fans and of donald by stitiching donald up..donald nad sartori paid the orice agreeed for the shares ad shirt made complete morons of them..
to say they took the paparachute money in light if all the evidence is scakdalous..really diusgusting behaviour that plays into the hands of the person whose acxount the mpmney went into..

The money ended up paying off the bank loan, why is paying off a bank loan disgusting behavior?

Short wrote off a huge amount of money that he could have quite rightly insisted on being paid back, The Parachute money was always going to pay the Loan back, it was just done in a stupid way. Madrox compounded this by LYING about paying £40 million for the club when they actually pad £15 million.

Maybe you would like to explain how SD managed to piss off the Spanish investors that where originally part of the group, hence the MAD (Madrid) part of Madrox? That left us with 2 penniless chancers that conned the cub, sold off anything that could move and set our youth teams back years

 

[G Force]

A lot of time for Charlton. Met loads of their fans down the years and can’t remember a bad one.

Who knows how it’ll turn out, you never know Methven might get lucky second time. However don’t believe his bollocks. He was horrendous for us

 

[gipetto]

I hate the **** for none of the above. Him and his mate came here to make a quick buck, sold our assets and robbed us of our parachute payments.

Depends how you look at it really. Yes, they saw an opportunity. They certainly didn't want to buy us because there was an emotional link there. However as I interpreted it, we had an unhealthy amount of debt, Short agreed to wipe the debt, however in return he recouped the parachute payments (payment for the club).

If wealthier, more ambitions owners had purchased the club then perhaps they would have been willing to pay off the debt and then we could have made use of the parachute payments. At the time, there weren't many suitors though, the only realistic alternative I think was a consortium led by Gordon Armstrong and Micky Gray, unsure who their backers were.

 

[chunksafc]

Depends how you look at it really. Yes, they saw an opportunity. They certainly didn't want to buy us because there was an emotional link there. However as I interpreted it, we had an unhealthy amount of debt, Short agreed to wipe the debt, however in return he recouped the parachute payments (payment for the club).

If wealthier, more ambitions owners had purchased the club then perhaps they would have been willing to pay off the debt and then we could have made use of the parachute payments. At the time, there weren't many suitors though, the only realistic alternative I think was a consortium led by Gordon Armstrong and Micky Gray, unsure who their backers were.

Short wiped all the debt bar the loan to the bank, that was always going to be paid with the Parachute money. As @Grumpy Old Man has explained the club managed to carry out some bizarre, stupid way of that happening when it was as simple as Parachute money comes in, Parachute money pays the loan.

The lie from SD and CM was that they paid £40 million for a debt free club. No they paid £15 Million for a club with a debt about to be written off by Parachute Money.

 

[Thrall]

Depends how you look at it really. Yes, they saw an opportunity. They certainly didn't want to buy us because there was an emotional link there. However as I interpreted it, we had an unhealthy amount of debt, Short agreed to wipe the debt, however in return he recouped the parachute payments (payment for the club).

If wealthier, more ambitions owners had purchased the club then perhaps they would have been willing to pay off the debt and then we could have made use of the parachute payments. At the time, there weren't many suitors though, the only realistic alternative I think was a consortium led by Gordon Armstrong and Micky Gray, unsure who their backers were.

They had no money, they shouldn’t have been allowed.

 

[gipetto]

They had no money, they shouldn’t have been allowed.

Agreed, but there was no one else and Short wanted rid ASAP. They saw an opportunity and took it. Had their been a better option, no doubt Short would have taken it.

 

[Its Him Again]

They have paid for Charlton this time

 

[Thrall]

Agreed, but there was no one else and Short wanted rid ASAP. They saw an opportunity and took it. Had there been a better option, no doubt Short would have taken it.

And then the blame lies at his door. He may as well have done a raffle for local business men.