Addicks set for takeover

Charlton receive offer from Zabeel Investments

Last updated: 10th October 2008   Subscribe to RSS Feed

Addicks set for takeover

Charlton: Takeover offer

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Charlton have received a takeover offer from a Dubai-based investment company.

The Addicks have been looking to re-establish themselves as a force in English football since being relegated from the Premier League in 2007.

They have now confirmed in a statement that Zabeel Investments have made an 'indicative cash offer'.

Zabeel Investments had been linked with a takeover at Newcastle earlier this season after Mike Ashley declared he wanted to sell.

They have now turned their attentions elsewhere and it appears Charlton could be set to become the latest club to move into foreign ownership.

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

"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."