A price of £18 million has been agreed between Charlton’s current board and the property company which is set to buy the club, writes Toby Porter. The prospective new owners, whose identity has not yet been revealed, are also thought to be ready to take on the club’s £4million bank debts, plus £7m owed to former directors when the Addicks return to the Premier League.
A price of £18 million has been agreed between Charlton’s current board and the property company which is set to buy the club, writes Toby Porter. The prospective new owners, whose identity has not yet been revealed, are also thought to be ready to take on the club’s £4million bank debts, plus £7m owed to former directors when the Addicks return to the Premier League.
The Valley board has in the past produced an appraisal that it could deliver a ‘40,000-seat stadium on the Morden Wharf site on the Greenwich peninsula at no cost’. That would mean making housing a part of the development on the 19 acre site. But crucially The Valley plot could satisfy the Greenwich Council’s requirement that a portion of any new development be composed of social housing.
The wharf site, next to the O2 Arena and with 500m of river frontage, is currently owned by Morden College, a Blackheath-based company which runs homes for the elderly – but the lease is held by developers Cathedral.The Council’s Peninsula West Master plan envisages turning the area into London’s premier entertainment zone by ‘focusing regeneration around multi-purpose sports, entertainment and education facilities’.