Tahnoon Nimer can now complete a deal with US-based Danish businessman Thomas Sandgaard
Tuesday 8 September 2020 10:13, UK
A potential takeover of Charlton Athletic has been put on hold for seven days after a court granted an interim injunction against a sale.
It allows Paul Elliott the time to appeal Tuesday's verdict, where a judge refused to grant a full injunction until he was able to take his claim over ownership of the club to court.
Elliott had initially agreed a deal in May to buy Panorama Magic's 65 per cent shareholding in the club, before failing the EFL's owners' and directors' test.
Elliott argued in court on Tuesday any sale should be prevented until he had the opportunity to appeal that decision.
Panorama's majority shareholder Tahnoon Nimer has been looking for new buyers.
Nimer, who owns 65 per cent of the club through his holding company Panorama Magic, can now complete a deal with US-based Danish businessman Thomas Sandgaard.
Sandgaard will have to wait until 4pm on September 9 before he can complete any takeover
On Tuesday, Judge Pearce ruled there was a very real risk Charlton Athletic Football Club could suffer extremely severe consequences if it was not possible for another buyer to invest.
Sandgaard flew into the UK last week and was at Charlton's EFL Trophy match against AFC Wimbledon on Tuesday.
The Danishman has told Sky Sports News he is confident a takeover agreement is close.
"That was obviously fantastic and it was interesting to hear in the judges decision how much the immediate future of the club is so important, and [how he is] actually acknowledging that the fans have been in all this", he said when giving his reaction to Tuesday's verdict.
"That was really something. Without that maybe we wouldn't have got the decision we got today and just waited for months.
"But now we can move on. Hopefully the rest is just a few formalities and everyone can agree with the agreement and get on with it. I'm so excited."
Sky Sports News' Ben Ransom:
Make no mistake, many Charlton fans felt this was D-Day for their club.
The Charlton Athletic Supporters Trust had made it clear over the last few weeks that they feared they would be the next Bury, and it's significant that one of their own board members, Lauren Kreamer, temporarily resigned her post to act as counsel on behalf of Panorama Magic.
More than 200 people were packed into the virtual public gallery to witness Tuesday's court proceedings, many of whom were Charlton fans cheering Miss Kreamer on from behind their (mostly) muted microphones.
The presiding Judge Pearce also recognised the importance of the hearing, allowing for a late start when he himself was stuck in the online lobby alongside the claimant Paul Elliott because the system could not cope with the sheer number of supporters wanting to log in to watch.
The Judge even ploughed on when it was suggested that the finish would be more than an hour after the usual prompt cut-off time of 4.30pm.
As it happened the final judgement was handed down at approaching 7pm.
Although this was essentially a legal wrangle over commercial ownership being played out in a courtroom, Judge Pearce admitted that he had to have regard for the wider picture and made reference to the importance of the club's human side, in particular the excellent work of the Charlton Athletic Community Trust.
The fans were jubilant when his judgement was eventually passed, more than 190 stayed right until the bitter end when the injunction was denied.
Paul Elliott can now take his case to a full trial to fight for ownership of the shares he believes he purchased from Panorama Magic for £1 back in May, but as his legal counsel Paul Chaisty QC attested in the hearing, when the horse has gone halfway down the road there is no catching up with it.
Charlton supporters have had their fair share of obstacles to overcome, the flying pig protest against the previous unpopular owner Roland Duchatelet will live long in the memory, as will the occupation of the club's boardroom, and going further back the establishment of The Valley Party to fight for a ground to call home 30 years ago.
Every new owner promises stability, and Thomas Sandgaard is no different. This club desires that more than anything else.
