Director Marian Mihail answers questions from supporters | 05/06/2020

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Director Marian Mihail has regularly answers questions from Charlton supporters through the Charlton Athletic Supporters Trust. Click here to read his answers to questions from May 29th.

Last week, at the request of a few supporter groups, the club invited the various different fan groups to submit up to two questions. Below are Mihail's answers to those questions.

Mihail has committed to continue to answer questions from supporters. Fans who do have any questions are encouraged to direct them via enq@castrust.org.

West Country Addicks: I have seen on Google via The Evening Standard that there is a new buyer on the scene. It seems very confusing. Who is buying Charlton Athletic FC?  

The decision has been made at shareholder level and Panorama has not informed me, up to this moment, on the identity of the individual or entity purchasing the 100% shares of East Street Investments.

At this point, I just want to make clear that my role as a Director, is primarily keeping the club running. While I have spoken to parties looking to buy the club, I am not the main point of contact in selling the club. However, as I have done for the last two months, I will try and keep you as updated as possible on what I know and what I am allowed to say.

Charlton Athletic Supporters Trust: How can the ongoing action about the ESI take over by former directors be resolved satisfactorily to enable the sale of the club to new owners?

The club is not being sold, ESI is. The chances of success of an action from the former directors to unpick the sale of Charlton Athletic to ESI in January remain the same, regardless of who owns ESI. I may have mentioned before that I do not see a successful injunction happening.

Charlton Athletic Supporters Trust: If a sale is not completed before the end of the month, how will the June wages be funded?

Valley Gold: Who paid the wages in May and with a sale on the cards will this continue?

The Reminscence Group: Did Nimer put money into CAFC to pay May salaries and if not who did?

The wages were paid without third party support or a cash injection. Also, to be clear, it wasn’t done with any form of credit from a financial institution.

Going forward, the short term funds can be covered via other sources, such as financing, recalling debt or revenue generated by the club.

Valley Gold: When we resume behind closed doors what are the plans for the fans to watch and will season ticket holders get any compensation for games missed?

Season ticket holders will not miss out, there will be various options open to season ticket holders for the missed games, including access to live streams of our games and refunds. The plans are still being finalised and more details on this will be communicated in advance of the ticket office re-opening. 

Bromley Addicks: What are the terms of the lease on The Valley/training ground between RD and the new owners? (submitted by Ian Foster)

Unfortunately both are confidential matters.

Bromley Addicks: My understanding was that on the purchase of the club by ESI in January 2020 an agreement was in place to purchase the ground and training ground from RD within 6 months. Your recent answers to supporters' questions (29.05.20) says that 'the option agreed in the sale agreement for the purchase of the freeholds in or around 2024 will remain in force after the sale of ESI has completed.' Which is correct, please? (submitted by Richard Nokes)

The option to purchase is for 2024, not six months after the sale.

Reminiscence Group: Have out of contract players and loanees been offered contract extensions until season is completed and have out of contract players been offered new contracts for next season?

Lee Bowyer and Steve Gallen are working on retaining players for this summer, but I expect offers to come out once the restart date has been set in place. Even with the ongoing registration embargo, we are allowed to extend contracts and loans for the remainder of the season.

East Kent Addicks: What's the situation with out of contract players if the season continues on the 20th June? 

The out of contract players are contracted until June 30th, so they will be available for selection in any games before then. For any player whose contract expires, for them to maintain availability, we have to agree to a contract extension. 

East Kent Addicks: Who can negotiate new financial deals with the players?

Steve Gallen will conduct the negotiating, but we hope news of the sale next week will bring more clarity on the available budget.

Maidstone and the Weald Addicks: At the time of ESI assumed control of the club, the ADBD website named several executives, all of whom are no longer there

In relation to the persons identified as executives on the ADBD website.

a) what payments and/or benefits were received by any of these persons and or their associates..?

b) what work of value or benefit to CAFC was performed so as to justify those payments and/ or benefits payed by whom..?

I was never part of ADBD and I am not part of it at the moment. As I have mentioned in previous weeks, the payments and validity of the work has been challenged. They have been asked to return part of the money that we felt was paid without proper consideration and the matters are ongoing through the proper legal channels.

Marian Mihail

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