Charlton takeover ends Duchatelet's reign

Thursday02 January 2020 | 14:53
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Roland Duchatelet's ownership of Charlton Athletic reached its end on Thursday, with East Street Investments purchasing the club.

The takeover of Charlton Athletic by East Street Investments has been completed, ending Roland Duchatelet's reign at The Valley.

Duchatelet took control of Charlton in 2014 and much of his tenure was defined by friction with supporters.

The sale of the Addicks, which the Belgian had been seeking since 2017, was agreed in November and it was confirmed on Thursday the deal had been finalised.

"It was vital for the long-term health of Charlton Athletic that this deal was completed at the very start of the January transfer window," said Duchatelet in a club statement.

"It allows the new owners to commit resources to the football side in order to bring in new players who will help secure the club's position in the Championship.

"This is a hugely exciting time for everybody involved with Charlton Athletic and I believe the club is in safe hands with His Excellency Tahnoon Nimer, Matt Southall and Jonathan Heller."

Lee Bowyer guided Charlton to promotion from League One last season and they sit 19th in the Championship.

New chairman Matt Southall said: "This is a great opportunity for ESI and we are thankful to Roland Duchatelet and his team for giving us the chance to build on such strong foundations.

"Now, for us, the hard work begins. We already have plans in place to support Lee and his staff over the next month.

"But most importantly is strengthening our links with both the fans and the Charlton community so they may understand our short and long-term plans for the club and how we intend to build on the amazing support and goodwill already shown to ESI."

New Charlton directors Nimer and Heller are respectively the chairman and chief executive officer of Abu Dhabi Business Development – the private office of Sheikh Saeed Bin Tahoon Al Nahyan.

source: SportMob