East Street Investments agree deal for Charlton Athletic – and first targets are to secure Lee Bowyer AND Lyle Taylor on new deals

BY RICHARD CAWLEY

East Street Investments have agreed a deal to buy Charlton Athletic.

Super-wealthy businessman Tahnoon Nimer is the chairman of Abu Dhabi Business Development – the private office of Sheikh Saeed Bin Tahnoon Al Nahyan – and oversees the running of more than 60 companies including energy, insurance, broadcasting, shipping and sports businesses.

Nimer is the majority shareholder in East Street Investments through his Abu Dhabi-based corporation, Panorama Magic General Contracting LLC, and will form part of the new Charlton Athletic board.

The takeover still has to be approved by the EFL.

But the South London Press understands that once East Street Investments are in control they will make handing highly-rated manager Lee Bowyer on an extended contract.

And the second priority will be to agree fresh terms with Addicks fans’ favourite Lyle Taylor.

Matt Southall will be the new chairman. He has been working between the UK and Middle East advising on international mergers and acquisitions and building strong relationships with key businesses in the Gulf.

Jonathan Heller, chief executive officer of Abu Dhabi Business Development, will be a director.

Southall said: “We are proud and delighted to announce East Street Investments have agreed the purchase of Charlton Athletic Football Club.

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 Athletic.

Lyle Taylor is set to be offered a new contract.

 

While we may be the club owners, truly we are only the custodians. 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.

“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. We will do everything possible 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 invest and build.

“Any deal of this kind is subject to the approval of the EFL and we are now working closely with them on the final details to satisfy their owners’ and directors’ test. Until that has been received, we will be making no further comment.

“But please be assured we intend to do everything within our power to bring back a true sense of pride to Charlton Athletic Football Club which is the least the fans, future generations of supporters and the community deserve.”

6 thoughts on “East Street Investments agree deal for Charlton Athletic – and first targets are to secure Lee Bowyer AND Lyle Taylor on new deals

  • 29th November 2019 at 11:13 am
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    Very good news for all of us.

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  • 29th November 2019 at 11:20 am
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    What a wonderful surprise & what a breath of fresh air, that will give all the CAFC management, players & supporters the fresh impetus that we all desperately need going forward. Good luck to all concerned!!

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  • 29th November 2019 at 1:22 pm
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    I echo the feelings of Phil Bollen. Great!!!

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  • 29th November 2019 at 1:57 pm
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    At last the fans,players,staff and Lee Bowyer can focus on the further development of this unique family club.

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  • 29th November 2019 at 6:39 pm
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    Wonderful news – from all CAFC fans in Australia!!!

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  • 30th November 2019 at 8:42 am
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    I am crying with happiness. This is the news we have all been waiting for.
    Light at the end of the tunnel at last. Come on you reds.

    Reply

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