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Charlton Athletic has hired City football specialists Seymour Pierce to advise it on funding options, including a possible share issue or even a sale of the Championship side. Seymour Pierce has been contacting prospective investors to inform them of its appointment, which is thought to have followed weeks of informal discussions with executives of the South-East London Championship side. Seymour Pierce and their chairman Keith Harris have already been involved in a number of key football deals including Roman Abramovich's purchase of Chelsea, the sale of Aston Villa to Randy Lerner and the Icelandic acquisition of West Ham. Charlton are a less fashionable club, but as more and more Premiership franchises are snapped up, Championship clubs with a chance of promotion look a more attractive prospect. Charlton have made a largely successful effort to build their support base beyond South-East London by systematic marketing in prosperous areas of Kent and Sussex. There was speculation about a takeover by businessmen from the Middle East earlier in the year but this came to nothing.
Football analysts consider that now is an odd time to market the Addicks as last year's relegation is thought to have wiped £30m off an estimated value of £80m. However, the club has attractions as a property deal as its owns its ground plus an extensive training ground at New Eltham. The leading shareholder in Charlton is Richard Murray who made his fortune from media group Avesco. Taking into account family trusts, he is thought to own over 25 per cent of the business. Last year the club delisted its shares, but despite it no longer being a public company the business must still comply with the Aim code and this could of itself be a reason for appointing advisers.
Charlton To Become First African Owned Club?
Charlton could be the first African owned club in England if a bid led by an influential Nigerian businessman succeeds. His group has already inspected The Valley and is also believed to have had access to the club's book and carried out the process of due diligence. A deal could be concluded in a few weeks with the businessman being represented by Chris Nathaniel of the London-based NVA management group. However, sources close to Charlton suggest that there are a few sticking points and a Russian consortium is hot on the heels of the Nigerian led bid. £50m is a good price for Charlton given their London location which usually puts a premium on the price. The club is run on a strong business footing and a number of initiatives such as the Valley Express coach service have built up the fanbase. The training ground at Sparrows Lane covers a large area. Given the government policy emphasis on building houses, it should be possible to get permission to build on all or part of it. The Valley itself is designated for recreational use, but is in a good location close to Charlton Station. The designation could be changed if a greenfield stadium site was found elsewhere in Greenwich, e.g., on vacant land next to the Dome and North Greenwich tube.
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