Skip to main content

Charlton set to become first Australian owned club

Charlton Athletic is set to become the first Australian owned club in Britain. A takeover is imminent according to fanzine Voice of the Valley, and an Australian consortium that has been interested in the club for some time look like the most likely buyers. As revealed in the fanzine, this involves businessman Andrew Muir, former owner of the Good Guys retail chain who has considerable funds at his disposal.

Ramsgate fan Rick Everitt who edits the fanzine reveals, 'Voice of The Valley has been told by multiple independent and well-placed sources that due diligence on a potential sale has been taking place – and today that a deal could even go through before the end of the next week.'

VOTV understands that the deal would now include the acquisition of Charlton Athletic Holdings Limited, the entity that owns The Valley and Sparrows Lane, as well the football club itself. Suggestions to the contrary were a source of concern to some fans following the initial report.

Details remain sketchy and the timeline changeable, but the deal has been brokered by the Everton director Keith Harris.

There had been rumours of interest from China. My view is that a Chinese takeover is unlikely at this time as the Communist Party Congress is still in session in Beijing and there will be no green light for new takeovers until its business is completed.

Attendances at the club have slumped under unpopular Belgian owner Roland Duchatelet, but there is an opportunity for them to revive, particularly as the club is now in the play off places in League One. Fans have campaigned vigorously against Duchatelet, including staging a number of protests in Belgium. On one occasion, Duchatelet was eating lunch in a restaurant in his home town when Charlton paraded past the window carrying a big 'Roland Out' banner.

Comments

Popular posts from this blog

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...

Fulham requires big funding from owner

After lengthy delays, Fulham’s shiny, new Riverside Stand has finally opened, creating “a unique Thameside destination with first class facilities for supporters and partners on match days, as well as for the wider community year-round”. This ambitious project has increased Craven Cottage’s capacity by around 4,000 to 29,600, while it has also taken advantage of the club’s fantastic location and wealthy catchment area by including two Michelin star restaurants, a rooftop swimming pool, corporate hospitality and event space, all benefiting from views of the Thames. Chief executive Alistair Mackintosh observed, “Fulham is the sort of club that can have a business class or first class and have fans that turn left on a plane.” Indeed, there is also an exclusive members club – with a football season ticket as an optional extra. It’s fair to say that “the times they are a-changing”, as this is a long way from the traditional pie and a pint. However, in a world where clubs face the tw...

A poor financial record, but new hope at Everton

I recently saw an amusing video online in which a group of Everton fans were rebuked in jest for being hopeful.  Football fans in general tend to swing between excessive optimism and excessive pessimism, but for many it seems that moaning is in their bloodstream (Spurs fans probably take the trophy).  However, Everton fans have had plenty to moan about on and off the pitch.   Let’s hope that a new era is about to begin for this grand old club. Everton’s 2023/24 financial results covered a fairly momentous season, when they ended up 15th in the Premier League, though they would finished three places higher if they had not received an 8-point deduction for breaching the Premier League’s Profitability and Sustainability Regulations (PSR). It was a worrying time for Everton fans, as the club faced a “perfect storm” of issues, including large financial losses, an ever increasing debt burden, a challenging stadium build and the tortuous sale of the club. There were eve...