Yuletide logs may be burning low in the hearth before Charlton fans learn today whether a deal to take over the cash strapped League 1 club has been completed. A mystery consortium, rumoured to include Dennis Wise, has been bidding to acquire the club from Richard Murray who took over sole control earlier in the year.
The club has quite a complex set of properties, including a large training ground at New Eltham which was upgraded to Premier League standards. Sorting out interests in all these has been complex and the bad weather has not helped.
Yuletide logs may be burning low in the hearth before Charlton fans learn today whether a deal to take over the cash strapped League 1 club has been completed. A mystery consortium, rumoured to include Dennis Wise, has been bidding to acquire the club from Richard Murray who took over sole control earlier in the year.
The club has quite a complex set of properties, including a large training ground at New Eltham which was upgraded to Premier League standards. Sorting out interests in all these has been complex and the bad weather has not helped.
The Addicks’ potential new owners were hoping to conclude a deal by Christmas Eve.
But the club’s former chief executive Peter Varney who is representing the group, has admitted that their hopes of assuming control today is likely to go to the wire.
He said: ‘We’re doing everything we possibly can to complete what is a very complex transaction which involves a whole array of third parties.’
The takeover of Crystal Palace was slowed by waiting for the Football League to rubber stamp the club’s change of hands. The share – which is their right to play in the division – has to be transferred. However, Varney has said that this is not a problem.
Charlton fans helped to clear the stands and approaches of ice at The Valley yesterday to ensure that the Boxing Day game against Southampton will go ahead. That should provide some cash flow and the away cup tie at Spurs should yield about £250k for the Addicks.
However, the club is running at a loss and without an injection of new funds administration will be difficult to avoid.