Methven buys Charlton

I have it on good authority that Charles Harry Finlayson Methven consortium offices are to be situated in both Bolton and Oxford. The company name will be a combination of the two names, Much like Madrid and Oxford known as "Madrox".

 

Well thought through John

 

Have a gold coin.

 

Methven Is drip feeding info to the owner of one of the Charlton forums and has instructed him to post this

https://intothevalley.proboards.com/thread/27462/message-all-bitter-sunderland-fans

 

Incase that link doesn't work:

"And the easily swayed fools who want to believe total strangers instead of waiting to see what happens....This is for the record is the truth of what happened during Charlie's time at Sunderland.

There has been a long-standing canard is that CM & Stewart Donald ‘took’ £20 million from SAFC at around the time they arrived at the club in May 2018. The facts are rather more prosaic but bear repeating.

* Before they bought the club from Ellis Short, SAFC owed Ellis £90 million and had Bank debt of £90 million = £180 million total debt.

* As part of their deal with him, Ellis wrote off his own £90 million debt and agreed to pay off £70 million of the bank debt.

* Ellis’ condition of sale was that the club’s ensuing (1 month later) Parachute Payment of £20 million be used to pay off the last remaining bank debt – not unreasonable, given the scale of his write-offs."

 

The way the EPL pays its parachute payments means that they have to go to the club first.
Therefore, the ‘paper’ flow of money went: EPL to Club; Club to their Holding Company; Their Holding Company to Ellis; Ellis to Bank.

* This created a ‘paper’ loan of £20 million from SAFC to their holding company.

* They never even received the money into any bank account of theirs, let alone kept it - the Club paid it straight to Ellis, who paid it to the Bank, who then released their charges over the stadium.

* That whole arrangement is how, in the space of two months, SAFC went from being £180 million in debt to being debt-free, with no liens over their properties.

 

As it happens, over the four years that they ran SAFC they ended up investing almost exactly £20 million of their own money into the club, thus eradicating even the paper loan, making it a non-issue even for troublemakers.

* The net position of SAFC on handover to new ownership in summer 2022 was: Debt free; operational break-even; both Mens and Women’s teams promoted; top U18 team in the country.

So, in short, they never took, let alone ‘stole’, any money in the first place. And – on top of that - even the paper accounting loan that was created to pay off the bank debt was paid back (and more) by subsequent owner funding.

My advice s, never let a good story, no matter how many are being made up at the moment, get in the way of the truth."

 

As has been said previously....Good Luck with Methven, Charlton will need it. I don't know one Sunderland fans with any issues against Charlton...so our feeling about this guy is what he was like when he co-ran our club. He was pathetic, embarrassing and he is a total chancer. I'll give it less then a season before you all see this for yourselves.

 

Good luck with the takeover marra, keep us posted on how things pan out.

 

Always had a lot of time and respect for Charlton since we went on a 2 day bender with some of theirs after the 4-4.

As such, sad to see that reprobate involved with them.

 

Hello gents, long suffering Charlton fan here. Can I ask a question if I may….

I’m trying to get an idea of how the ownership worked when Methven was involved with your good selves.

The current situation at Charlton is this…..Charlie Methven and Edward Warrick are the directors of a company called SE7 Partners who have had a bid to buy the club agreed with our current owner Thomas Sandgaard. Companies House shows CM and EW as directors of SE7 partners but that a Cayman Islands company called Global Football Partners has significant control over SE7 Partners but there are absolutely no details available as to who is involved with Global Football Partners, although it is believed that CM controls that company, possibly with other unnamed persons.

CM (as you know) and EW do not have the funds to own or run a football club on their own. There are rumours that a couple of US billionaires might be providing capital for this purchase, but it is all mired in mystery as they are not named anywhere publicly as being involved in the ownership bid. We have no way of knowing if these billionaires are actually involved and if they are then what exactly their involvement is. They could for example just be providing loans to CM and EW (or to the club) to allow them to pass the EFL source and sufficiency of funds tests but in reality the club would be lumbered with this debt if it all goes tits up.

I remember similar talk of hidden billionaires involved with CM’s time at Sunderland and was wondering if this rings any bells with you fellas. At the moment everything is shrouded in mystery about this takeover so just wondered if any of you can shed any light on how the ownership worked at Sunderland under CM ?

I know you have ended up in a much better place now, but from what I can see that is mainly down to your new owners and not CM.

Any insights would be greatly appreciated. Cheers.

 

Whatever he is up to be very afraid. They (him and his pal Suart Donald) "bought" our club with it's own parachute payments and then denied it. When irrefutable evidence proved that they did indeed do that, Methven stated that as Northerners we were all "uneducated" in business and from there it was all downhill. They then said the parachute payments were a loan and they would pay back payments "as and when needed", they never did. Be ready for them cutting things back to the bone and selling any up and coming youngsters you have as he doesn't have the money to run a football club. Oh and keep an eye out for any new "members" of fans forums as he likes to go on them and defend himself anonymously. The Cayman Islands billionaire sounds exactly like the role Juan Sartori played for Methven and his mate Donald, i.e. showing proof of funds to the EFL and then not putting any of it into the club. Oh and almost forgot when things inevitably do go tits up expect them to fabricate stories of Charlton fans kidnapping their daughters.

 

Dont believe a word he says, hes a PR guy and will always try to spin things in his favour. All they did was cost cut with us, some of it was needed mind but he had no vision for our club and that was his biggest mistake.

For your sake i hope hes learned from being involved but id be very wary if i was you

 

I say everytime this is posted I didn't watch series 2 because I saw clips like this. ****ing embarrassing!

 

To be fair to the bloke, at least he was trying to change things.

I have never been as angry with safc as I was watching that meeting where everyone else is bending over backwards to do as little as possible, and then when they're asked for their ideas they look at him like he's just asked to have a **** in their hats. I'd have sacked everyone in that room on the spot. The whole place was absolutely poisonous.

 

Is Dance of the Knights slow and boring by the way? I don't get that but wonder if it's just me?

 

Thanks for the replies so far.

‘Our’ billionaires have been named on social media and in other news reports as US businessmen, but at this time their names do not appear anywhere in the company that has apparently made the agreement with our current owner, to buy the club. This is what worries me. OK they could be added in due course, but equally they might not be.

So is this Juan Sartori the billionaire that was mentioned as a backer but never put any money in ?

And how were you actually financed during his tenure - was it just the parachute payments plus the previous owner writing off virtually all of the debt ?

We have no parachute payments, lose £8/9M per year and have a current owner who won’t write off much debt. It’s all very concerning.

 

bloke was up Charlie's arse. End of.

 

I agree on the walk out and build up music. It's the little arse licker , not from up here saying it was boring