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Llanera Bankrupt, Addicks Ok Though

Addicks shirt sponsors Llanera have been forced to go bust, having run up debts of around 750 million euros.

The Addicks signed a lucrative four and a half year shirt deal with the Spanish property company at the end of 2005, but with them now having filed for bankruptcy this means the deal is dead.

However Addicks chief executive Peter Varney has said that this will not impact on the Addicks this season, as Llanera had already paid this seasons sponsorship money up front, but the club will be looking for a new sponsor for next season, Peter Varney told the Addicks website: 'It appears that Llanera have been unable to reach an agreement with their bankers on a refinancing deal.

'The total debt seems to be around 750million euros, and two banks in particular look likely to suffer significant losses.

'But our agreement was structured in a way that means we will not incur any losses in the current financial year.'

It is obviously a blow to lose such a long term lucrative deal, but at least this season has been paid up so the Addicks can now look towards next season and finding a new sponsor, which should (all being well) be a sponsor looking to sponsor a Premier League club again, which should also be lucrative! We just have to hope that we can break our run of two successive shirt sponsorship deals that went belly up.

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The Journalist

Writer: Charlton Addickt  Mail feedback, articles or suggestions

Date:Friday October 19 2007

Time: 10:29AM

Your Comments

Obviously this is bad news as the full deal will not be seen through, but at least this season was paid up so if all goes to plan the Addicks can get a new (and again lucrative) shirt sponsor in place for next season, as a Premier League club.
Charlton Addickt
As a Premier League club indeed :) Sucks really though! Darn it!
Pardew is Sexy
It would have sucked more had this years money not been paid in advance though wouldn't it.
Charlton Addickt
 

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