Charlton fans fear for club’s future amid EFL investigation
Posted on 23rd April 2020
Charlton Athletic fans say they are “once again” readying themselves to save the club, after the EFL announced it would begin investigating its January take-over.
The EFL is looking into East Street Investment’s purchase of the south east London club from previous owner Roland Duchâtelet for £1 earlier this year. The deal included an additional £50m to follow this summer to finalise the purchase of The Valley and the club’s training ground.
However, the new majority shareholder Tahnoon Nimer has still not satisfied EFL requests for proof and source of funding – potentially breaching the league’s rules covering takeovers and misconduct.
Charlton Athletic Supporters’ Trust said: “Once again, the very existence of Charlton Athletic Football Club is under threat.
“The EFL investigation into the takeover of the club by ESI poses both long- and short-term risks to the operation of the club, the most obvious of which are potential EFL sanctions, and a lack of funds being injected into the club, leading to relegation at best, and liquidation at worst.”
East Street Investment’s takeover was initially welcomed by supporters as it saw the end of Roland Duchatelet’s time at the club – bringing an end to years of campaigning from fans against the Belgian businessman.
Now Charlton fans, led by CAST, say they will be pressing the new owners and the EFL for a swift resolution to the matter. The FSA has also provided advice and guidance to Charlton’s supporter representatives.
CAST said: “We are liaising with professionals and stakeholders on contingency planning, ensuring a comprehensive and realistic plan for fan ownership is ready to go should the need or possibility arise in an insolvency scenario.”