Valley and Sparrows Lane lease extended to 2040
A little bit out of the blue this today.
The club announced the extension of the club’s lease of The Valley and Sparrows Lane through to June 2040.
On the face of it this has to be good news, but although 2040 seems forever away it is only an extension of five years from the existing arrangement.
Credit to the owners as I assume they were the protagonist in these discussions. There was a time when the ‘old bastard’ didn’t even want to talk to Charlton’s owners and officials so this tells a positive tale that Gavin Carter and the investors have at least an audience.
I don’t expect for a second though that Duchatelet has reduced his sale price, inflation and our recent success has probably only increased his number, which was laughably £50 million, probably twice it’s actual worth.
The extension buys time though and let’s be honest here, it allows the owners to concentrate on team investment instead.
Let’s be serious, owning The Valley again won’t happen anytime soon – maybe only following some time in the Premier League or Duchatelet popping his clogs, and his heir’s prepared to negotiate sensibly.
Yet, in the meantime I take the news as a positive.
I would like to see a supporter buy-out of Sparrows Lane (probably couldn’t afford The Valley) so it would be fully in supporters hands. Well, I can dream can’t I?
We can dream Wayne. Fan owned is the only generational solution.
We really only need to worry about our occupation on a leasehold basis if a business is not the occupier or the lease specifically exclude the provisions of the Landlord & Tenant Act 1954. The 5 year extension makes me wonder whether I should worry!
My thinking is that yes £50m is too much but also Roland won’t live forever and when he keels over a more realistic offer will be made to his estate for the freehold of the Valley/Sparrow’s Den and his executors will be happy to cut a deal.