Football

Addicks set for big-money takeover?

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Charlton are surprise candidates to become the latest English club to become foreign-owned after confirming an indicative offer had been received from a group of Dubai-based investors.

The Addicks, who currently lie 14th in the Coca-Cola Championship having been relegated from the Barclays Premier League in 2007, revealed they are the subject of an offer from Zabeel Investments, who were recently linked with buying Newcastle.

A statement from Charlton read: "The board of Charlton Athletic plc announces that it has received an indicative cash offer from Zabeel Investments, a Dubai-based diversified investment company."

It went on: "The indicative offer is subject to a number of (waivable) preconditions, including due diligence, however, it is at a level at which, should the offer be made formally to shareholders, the board would recommend shareholders to accept it.

"There is, however, no certainty that a formal offer will be made nor as to the terms of any offer.

"Zabeel Investments had been looking at the opportunity to invest in a leading English football club and had been monitoring the situation at Charlton Athletic Football Club closely.

"In spite of being approached by various English football clubs as well as a number of well-known clubs in Europe and South America, Zabeel Investments believes Charlton is the right club for them.''

Derek Chappell, chairman of the plc, and club chairman Richard Murray welcomed the potential for investment investment, saying: "The board firmly believes that a successful outcome for this transaction would be beneficial to shareholders and employees of Charlton, all fans of the club and the local community as a whole."

Charlton have been forced to sell a number of players since dropping out of the Premier League, with Darren Bent, Luke Young, Andy Reid, Marcus Bent and Madjid Bougherra among the high-profile departures.

Copyright (c) PA Sport 2008, All Rights Reserved.

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Topics:
Football
Championship
Premier League
Andy Reid
Luke Young
Marcus Bent
Madjid Bougherra
Darren Bent
Charlton Athletic

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