Timescale for outcome of latest Charlton Athletic takeover bid clarified | OneFootball

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Football League World

·1 June 2023

Timescale for outcome of latest Charlton Athletic takeover bid clarified

Article image:Timescale for outcome of latest Charlton Athletic takeover bid clarified

The outcome of a takeover bid of Charlton Athletic involving Joshua Friedman and Gabriel Brener is set to be reached by the end of the week, according to South London Press journalist Richard Cawley,

Earlier this week, Cawley confirmed that a Sale and Purchase Agreement (SPA) had not been signed yet by the Friedman and Brener group.

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If this consortium does sign the SPA, it will still take a considerable period of time for them to pass through the EFL process, which includes the owners' and directors' test.

What has been previously said about the latest Charlton Athletic takeover bid?

Last month, the South London Press reported that Friedman's group's bid to purchase Charlton was accepted by current owner Thomas Sandgaard.

After having a previous offer rejected by Sandgaard, this consortium briefly started legal action against the Addicks owner, claiming that he breached the terms of their exclusivity deal when he entered talks with American businessman Marc Spiegel earlier this year.

An improved bid was subsequently tabled by this group, which resulted in Sandgaard opting to agree a deal.

Brener is said to be the key financial backer in Friedman's bid to purchase the club.

Will this takeover saga have a positive ending for Charlton Athletic?

With Sandgaard looking to sell the club, Charlton's supporters will be hoping that the SFA will be signed by this aforementioned group by the end of the week.

This will allow the takeover bid edge closer to completion, as the EFL will be granted the chance to scrutinise the prospective owners.

If this consortium is given the green-light to proceed, they could potentially provide Charlton boss Dean Holden with some extra financial backing during the transfer window.

Having guided the Addicks to a respectable 10th place finish in League One last season, Holden will be determined to oversee a positive start to the season.

Charlton's hopes of challenging for promotion will largely depend on whether they are able to nail their recruitment this summer.

By receiving the funds needed to sign players who are capable of making a difference at this level, Holden could help the Addicks reach new heights in League One.

However, if this takeover deal collapses, Charlton may have to switch their focus to less ambitious targets over the course of the summer, which may limit the progress that they will be able to make with Holden at the helm later this year.

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