Charlton Athletic have rejected a takeover bid from a group led by Swiss-based fund manager Sebastien Sainsbury. Sainsbury, a member of the supermarket dynasty, fronted a failed attempt to buy Leeds United in 2004.
According to club sources the offer had not provided proof of funds. There were concerns that the bidders would create working capital by borrowing against The Valley and other capital assets. There were also unconfirmed allegations that one person associated with the bid did not meet the highest standards of probity.
Charlton Athletic have rejected a takeover bid from a group led by Swiss-based fund manager Sebastien Sainsbury. Sainsbury, a member of the supermarket dynasty, fronted a failed attempt to buy Leeds United in 2004.
According to club sources the offer had not provided proof of funds. There were concerns that the bidders would create working capital by borrowing against The Valley and other capital assets. There were also unconfirmed allegations that one person associated with the bid did not meet the highest standards of probity.
Charlton chairman Richard Murray has said that no takeover was imminent and that the board would need to be satisfied that any proposal was in the best interests of the club.