November 29, 2019 / 2:50 PM / 13 days ago

Abu Dhabi-based consortium agrees to buy Charlton Athletic

LONDON (Reuters) - Abu Dhabi-based consortium East Street Investments has agreed to buy Charlton Athletic, the second tier English soccer club announced on Friday.

The deal for the South London side founded in 1905 remains subject to approval by the Football League (EFL).

The new owners said they were working closely with the league to satisfy the owners’ and directors’ test and would make no further comment until the takeover was approved.

“We would like to thank Roland Duchatelet, his team and the directors for helping to facilitate a quick and smooth sale,” they added in a statement on the Championship club’s website.

“They leave the club with solid foundations on which we can invest and build.”

Abu Dhabi-based businessman Tahnoon Nimer, majority shareholder in East Street Investments through Panorama Magic General Contracting LLC, would be part of the new board, the statement said.

British businessman Jonathan Heller will also become a director with Matt Southall as chairman.

“Our priority will be immediate contact with fan groups in order that their views play a major role in the club,” the statement said.

Reporting by Alan Baldwin; editing by Jason Neely

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