Post by Macmoish on Jan 5, 2011 7:58:55 GMT
Guardian/Matt Scott
Series: Digger
The troubled past of Charlton Athletic's decisive new owners
• Charlton's new owners have sacked Phil Parkinson
• But their own careers have not been all plain sailing
Charlton Athletic's new owners are decisive: they sacked the manager Phil Parkinson yesterday within 24 hours of taking control. What else do we know about them?
Well, Charlton's website yesterday described Tony Jimenez and Michael Slater respectively as "an international property developer" and "a lawyer and businessman". The pair hold their interest in Charlton through CAFC Holdings Limited, "a company managed and controlled in Switzerland", though its registration is held in the offshore tax haven of the British Virgin Islands.
Charlton's chairman, Slater, as the club's website explains, began work as a solicitor. Indeed, a Solicitors Disciplinary Tribunal in August 2007, although clearing him of the primary allegations, found "the way in which [Slater] conducted himself could well be detrimental to the good reputation of the solicitors' profession as a whole". A spokesman for Slater said yesterday: "Allegations were made and these were 100% rejected by the SDT."
As for Jimenez, the former vice‑president (player recruitment) at Newcastle United, Digger hopes his international property development interests have more life to them than those UK businesses on whose board he has served. Of the 17 UK companies where has been a director, 16 have been dissolved. The 17th is also set to be, either this month or next. "Tony has been a successful businessman in international property over the last 20 years," the spokesman added.
Venky's bid for publicity
Anuradha Desai, the head of Venky's, spelled out the £20.9m details of the contract Blackburn Rovers were prepared to offer Ronaldinho. Along with their interest in David Beckham, the club were supposedly bidding for two of the game's most garlanded players. How they would have paid for such purchases was not detailed.
Digger has already reported how Venky's had to commit £46m of its £150m in cash to buy Rovers, which is not exactly a goldmine; only the sale of Roque Santa Cruz to Manchester City saved Blackburn from a £6.5m cash loss in the 2008‑09 season. Whether Venky's shareholders would also accept the Mumbai-stock market-listed entity committing up to £7.2m a year to Ronaldinho when its most recently stated annual group profits were £29m would surely have been doubtful.
Lo and behold, yesterday the caretaker manager, Steve Kean, added: "Day by day it is looking further away rather than closer. [But] we are trying to show a bit of intent by looking at two players like David Beckham and Ronaldinho." A bit of intent, with a bit of publicity for Venky's along the way.
World Cup losses
The 2010 World Cup was hailed as an unalloyed success for Fifa, which undoubtedly played a part in the decision to hand the 2018 finals to Russia. But not everyone associated with the tournament is basking in the glory. Global Brands Group, the official Fifa merchandising partner, has since folded, in an insolvency that theoretically could cost Fifa up to an estimated $25m (£16m) a year in licensing fees. GBG also held the "master licensing" rights to the 2014 World Cup but will not now have the chance to exploit them; Fifa is considering its next steps. (Also falling by the wayside are GBG's plans to open a Fifa store in London, although Fifa‑branded apparel was never likely to fly off the shelves here after the 2 December World Cup vote.) Documents lodged at Companies House in November showed the company's UK subsidiary has also been liquidated, with a loss of more than £519,000 to creditors. Among them were staff, landlords and UK taxpayers.
www.guardian.co.uk/football/2011/jan/05/charlton-athletic-owners
Series: Digger
The troubled past of Charlton Athletic's decisive new owners
• Charlton's new owners have sacked Phil Parkinson
• But their own careers have not been all plain sailing
Charlton Athletic's new owners are decisive: they sacked the manager Phil Parkinson yesterday within 24 hours of taking control. What else do we know about them?
Well, Charlton's website yesterday described Tony Jimenez and Michael Slater respectively as "an international property developer" and "a lawyer and businessman". The pair hold their interest in Charlton through CAFC Holdings Limited, "a company managed and controlled in Switzerland", though its registration is held in the offshore tax haven of the British Virgin Islands.
Charlton's chairman, Slater, as the club's website explains, began work as a solicitor. Indeed, a Solicitors Disciplinary Tribunal in August 2007, although clearing him of the primary allegations, found "the way in which [Slater] conducted himself could well be detrimental to the good reputation of the solicitors' profession as a whole". A spokesman for Slater said yesterday: "Allegations were made and these were 100% rejected by the SDT."
As for Jimenez, the former vice‑president (player recruitment) at Newcastle United, Digger hopes his international property development interests have more life to them than those UK businesses on whose board he has served. Of the 17 UK companies where has been a director, 16 have been dissolved. The 17th is also set to be, either this month or next. "Tony has been a successful businessman in international property over the last 20 years," the spokesman added.
Venky's bid for publicity
Anuradha Desai, the head of Venky's, spelled out the £20.9m details of the contract Blackburn Rovers were prepared to offer Ronaldinho. Along with their interest in David Beckham, the club were supposedly bidding for two of the game's most garlanded players. How they would have paid for such purchases was not detailed.
Digger has already reported how Venky's had to commit £46m of its £150m in cash to buy Rovers, which is not exactly a goldmine; only the sale of Roque Santa Cruz to Manchester City saved Blackburn from a £6.5m cash loss in the 2008‑09 season. Whether Venky's shareholders would also accept the Mumbai-stock market-listed entity committing up to £7.2m a year to Ronaldinho when its most recently stated annual group profits were £29m would surely have been doubtful.
Lo and behold, yesterday the caretaker manager, Steve Kean, added: "Day by day it is looking further away rather than closer. [But] we are trying to show a bit of intent by looking at two players like David Beckham and Ronaldinho." A bit of intent, with a bit of publicity for Venky's along the way.
World Cup losses
The 2010 World Cup was hailed as an unalloyed success for Fifa, which undoubtedly played a part in the decision to hand the 2018 finals to Russia. But not everyone associated with the tournament is basking in the glory. Global Brands Group, the official Fifa merchandising partner, has since folded, in an insolvency that theoretically could cost Fifa up to an estimated $25m (£16m) a year in licensing fees. GBG also held the "master licensing" rights to the 2014 World Cup but will not now have the chance to exploit them; Fifa is considering its next steps. (Also falling by the wayside are GBG's plans to open a Fifa store in London, although Fifa‑branded apparel was never likely to fly off the shelves here after the 2 December World Cup vote.) Documents lodged at Companies House in November showed the company's UK subsidiary has also been liquidated, with a loss of more than £519,000 to creditors. Among them were staff, landlords and UK taxpayers.
www.guardian.co.uk/football/2011/jan/05/charlton-athletic-owners