Charlton Deny Takeover Bid - 09/05/2007

Relegated South-East London club Charlton Athletic have denied that they are the subject of a takeover bid. Press reports suggested that the Dubai led Middle East consortium that had been unsuccessful in its bid for Liverpool might make an offer for the relegated Premiership club. Charlton chief executive Peter Varney commented, 'I didn't see many sheikhs at the game last night. As far as I am concerned it's total nonsense.' However, prospective bidders don't have to turn up to a game to put in a bid and the fact that one hasn't been made yet doesn't mean it won't be. Until their relegation, Charlton were the only Premiership club in South London and have an extensive hinterland of support in prosperous Kent. With relegation the asking price could come down from around £80m to £50m. However, there is no indication that Richard Murray and the other directors who control the club are interested in selling. Charlton supporters would probably be divided between those who would see it as incompatible with the traditions and family and community emphasis of the club and those who would see it as a means to provide the funds needed for a rapid return to the Premiership.