Charlton takeover: Roland Duchatelet sells Championship club to East Street Investments

Charlton have been taken over by a consortium of investors from the Middle East, finally ending Roland Duchatelet’s controversial ownership at

The Valley.

Duchatelet has sold Charlton to East Street Investments, a group led by Abu Dhabi-based majority shareholder Tahnoon Nimer and British businessman Matt Southall.

The deal is believed to be worth in excess of £50million and is subject to EFL approval.

“We are proud and delighted to announce East Street Investments have agreed the purchase of Charlton Athletic Football Club,” said the new owners in a statement.

“We are privileged to take ownership of such an historic club and it is incredibly exciting to be part of the process of building a fresh future for the fans, loyal club staff and players of Charlton.”

The takeover brings to an end five years of turmoil under Duchatelet. The Belgian bought the club in 2014 for around £17m and his controversial reign saw supporters hold a series of protests against him. The announcement of his departure was welcomed by Charlton fans.

A spokesperson for the Charlton Athletic Supporters’ Trust said: “Never mind Black Friday, this is Red and White Friday for Addicks fans.”

Duchatelet put Charlton up for sale in December 2017 but had been unable to find a buyer. He increased his asking price after they were promoted to the Championship in May and held out for close to £60m.

An Australian consortium failed to agree a takeover despite lengthy negotiations and attending matches at The Valley. In March, Duchatelet demanded the EFL buy the club, a bizarre proposal which was rejected by the league.

It is believed East Street Investments have been negotiating with Duchatelet discreetly behind the scenes for around four months.

“While we may be the club owners, truly we are only the custodians,” said the Abu Dhabi-based group today.

“The true spirit of this football club rests with the fans, it is nothing without them. Their support throughout some difficult times both recently and in the past has been inspirational and we intend to build on that loyalty. Our priority will be immediate contact with fan groups in order that their views play a major role in the club going forward.”

The new owners have given their support to Charlton manager Lee Bowyer and insisted they will back him. Charlton are currently 17th in the Championship.

Nimer is an Abu Dhabi business tycoon who is the chairman of Abu Dhabi Business Development, the private office of Sheikh Saeed Bin Tahnoon Al Nahyan.

Southall is a former Blackburn academy player from south London. After being released by Rovers at 16, he earned a Masters in Business Administration at the University of Manchester, and worked as an FA licensed agent. For the past five years, he has worked on mergers and acquisitions in the Gulf.

Jonathan Heller also joins the Charlton board as a director. “We believe the football side of the club is in excellent hands with Lee Bowyer and what he and the players have achieved following promotion has been outstanding,” said the new owners. “We will do everything to support Lee’s vision and ambitions.

“We would like to thank Roland Duchatelet, his team and the directors for helping to facilitate a quick and smooth sale. They leave the club with solid foundations on which we can build.

“Please be assured we intend to do everything within our power to bring back a true sense of pride to Charlton which is the least the fans and the community deserve.”

The Charlton Athletic Supporters Trust said: “We are delighted to be able to look forward to a brighter future. All we wish for are new owners who understand English football and respect the community aspect of the club. We hope one of their first tasks will be to secure Bowyer and his management team on longer-term contracts. We are greatly encouraged by the sentiments expressed by Southall that ‘the true spirit of this club rests with the fans’.”