ian1964 10,419 Posted April 2, 2009 Share Posted April 2, 2009 Glasgow Rangers are to buy a controlling stake in Charlton Athletic, in a move that will not only completely change the structure of Charlton in its current format, but also impact on the face of British football in general. Following five months of talks and negotiations, the revolutionary deal will be announced at a joint press conference on Friday 3rd April at The Valley after the move was given the go-ahead by the various football authorities on Tuesday. Glasgow Rangers are to pay Ã?£24.2m for a 64.5% stake in Charlton, and will transfer a number of senior and junior players, both in permanant deals and season-long loans during the summer. Discussions between the clubs date back to November, in the aftermath of Charltonââ?¬â?¢s perilous financial position highlighted by the need to pay previous manager Alan Pardewââ?¬â?¢s compensation package. On the 24th February, a Charlton delegation consisting of Richard Murray, Derek Chappell, Bob Whitehand, Steve Waggott and Nigel Capelin met with Sir David Murray, Rangers Chief Executive Martin Bain and Finance Director Donald McIntyre at Londonââ?¬â?¢s Dorchester Hotel to finalise the agreement. Former Chief Executive Peter Varney was also present, and has been working as an intermediary on the deal. ââ?¬Å?The original concept was the idea of Sir David Murrayââ?¬Â revealed a senior Charlton employee. ââ?¬Å?Rangers are acutely aware that unless they absorb some of the Premiership money within the next few years, they are unlikely to ever compete at the highest level in Europe again. They see it as essential to their heritage that some form of presence remains in Scotland, and they believe they can continue to do that to a lesser degree long-term by balancing their squad and remaining competitive in the SPL. But they desperately need the money that is generated by English football, and it is no secret that we desperately need fresh financial impetus to remain a viable entity. The bulk of Rangers resources will be devoted to getting Charlton back to the Premiership as quickly as possibleââ?¬Â. The deal will instantly clear all Charltonââ?¬â?¢s outstanding debts, including the early repayment of both the Ã?£6m on Charltonââ?¬â?¢s mortgage and the Ã?£15m convertible bond issue key directors undertook in 2008. ââ?¬Å?I would be lying if i said that this is the ideal scenario we envisaged for the future of Charlton. But the financial situation is crippling, and the board fell that they are backed into a corner. There are no more funds, there is no overdraft facility and next year we are facing third-tier football. There are no other options on the table, and as it stands the future of Charlton Athletic shows no sign of recovery in its current format. At least this way there is a chance of Premiership football returning to The Valley and the ââ?¬Ë?Charltonââ?¬â?¢ name to be attached to it, albeit looselyââ?¬Â. Since the February meeting, representatives of both Rangers and Charlton have been in continued negotiations with the SPL, Football League and the Premiership. ââ?¬Å?Talks have been intense. The SPL were originally strongly opposed to the move, but are realistic enough to know that financially the big-two in Scotland cannot compete with other leading European clubs, so need to seek unique initiatives. They also now see this as an ideal opportunity for Scottish clubs to continue to benefit from the strong support and finance Rangers and Celtic provide by playing other SPL clubs, but equally by fielding potentially weaker sides it will make the SPL as a league more even and competitive. Rangers believe Celtic will quickly set up a similar arrangement with another English club. The Football League have been very supportive of the move, as it will provide a greater focus and benefit to its member clubs. However, the Premier League were rigid on the legalities, and this is largely what has taken the past month to resolveââ?¬Â. ââ?¬Å?Charltonââ?¬â?¢s imminent relegation to League One was not ideal, but has meant the deal could be agreed at the levelââ?¬â?¢s Rangers could realistically afford. Sir David Murray has made clear that Charltonââ?¬â?¢s location, availability, current structure and potential for development far outweigh long-term the negatives. They believe they can develop a model that will take Charlton Rangers to compete with Arsenal and Chelsea within seven yearsââ?¬Â. Ironically, the name of the amalgamated club has also provided a delaying problem. ââ?¬Å?Rangers see it as essential that ââ?¬Ë?Rangersââ?¬â?¢ is represented in the name. However, there is already an amateur football club registered with the London F.A as Charlton Rangers. Greenwich Rangers and Rangers Charlton were being considered, but its now been agreed that the club can register next season as Charlton Rangers through the Kent F.Aââ?¬Â. The move will see the near-total replacement of both the Charlton Football Club board, and the Charlton PLC board. Richard Murray however, will remain a non-executive director for a minimum 12-month period. ââ?¬Å?There are real concerns on how the Charlton fanbase will react. I have my own strong views, but i am also a fan. Having Richard Murray on board is seen by Rangers as essential to not just providing a smooth transition, but also winning the acceptance of Charlton supporters. I think theyââ?¬â?¢ve underestimated just how this will be taken by the Charlton fans to be honestââ?¬Â. Members of Charltonââ?¬â?¢s Fans Forum were uncontactable late last night, but Bromley Supporters Group representative Ben Hayes said ââ?¬Å?Iââ?¬â?¢m shocked. I know the board are also Charlton fans, and would not undertake such a deal without having the best intentions of the club at heart, and i think on this one we are just going to have to trust them and wait and hear what they have to say. But i can understand not all Charlton fans will be happy with this and i encourage them to contact Fans Forum representatives with their views. It makes sense now why the club have delayed announcing season ticket prices for next season. Charlton Rangers is something i am going to have to think long and hard about though, particularly as i am a lifelong Celtic follower. Iââ?¬â?¢m sure i wonââ?¬â?¢t be the only one with this dilemnaââ?¬Â. http://www.charltonlife.com/blog/?p=218 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,419 Posted April 2, 2009 Author Share Posted April 2, 2009 Surely a wind up !!!! 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,346 Posted April 2, 2009 Share Posted April 2, 2009 You're a day late with this one. 0 Quote Link to post Share on other sites More sharing options...
johnnyk 158 Posted April 2, 2009 Share Posted April 2, 2009 ha ha ha cmon ian I thought you were on the ball after your april fool yesterday 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,419 Posted April 2, 2009 Author Share Posted April 2, 2009 ha ha ha cmon ian I thought you were on the ball after your april fool yesterday What do you mean ? 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,419 Posted April 2, 2009 Author Share Posted April 2, 2009 Cash-strapped Charlton are considering selling off their training ground and other facilities and laying off staff to try and tackle their �£20m debt. (The Sun) http://news.bbc.co.uk/sport1/hi/football/gossip_and_transfers/7978183.stm 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted April 2, 2009 Share Posted April 2, 2009 Sounds like bullshit and any Rangers team in the English league would need to play in Glasgow to get the support of the Rangers fans. 0 Quote Link to post Share on other sites More sharing options...
DJBlue72 0 Posted April 2, 2009 Share Posted April 2, 2009 Is Charltons nickname not the addics ?? feck that. 0 Quote Link to post Share on other sites More sharing options...
Cotter 0 Posted April 2, 2009 Share Posted April 2, 2009 Definitely sounds like a wind-up to me. Admittedly it's a good one right enough:) 0 Quote Link to post Share on other sites More sharing options...
H1ndy 0 Posted April 2, 2009 Share Posted April 2, 2009 its gotta be a joke id rather murray used that 24 million for charltan to clear our debt 0 Quote Link to post Share on other sites More sharing options...
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