What is happening at our club?

For those of us struggling to keep abreast of developments at Charlton Athletic we thought we would try to produce a weekly update of events.

This is not an attempt to provide a comprehensive and detailed analysis of every twist and turn. It is designed for those who are looking for a broad and manageable overview. We welcome comments and questions at secretary@castrust.org.

This is our current understanding:

The directors of Charlton Athletic Football Company Ltd are now listed at Companies House as:

  • Tahnoon Al Nasirat (known to us as Tahnoon Nimer)
  • Claudiu Florica
  • Marian Mihail

Florica and Mihail replaced Matthew Southall and Jonathan Heller as directors on 19th March (although the latter remain as directors of East Street Investments alongside Nimer, Florica and Mihail). When CAST spoke to Mihail last week he told us that ESI were still committed to CAFC and that they are aiming to bring a substantial amount into the club by mid April if possible.

Tahnoon Nimer told Sky Sports News this week that he will "immediately" inject money into the club. "I will never let them down. We are ready to inject the money (since) day one (that) we arrived". He also reiterated what Mihail said last week about satisfying the EFL source and sufficiency of funds requirements. "We are already discussing with the EFL and submit five or six documents from different banks, which prove where the funds come from and the different amounts inside. The EFL will take time but I'm not going to wait for the EFL. I'm going to support the club as much as I can now."

Along with all Charlton fans we are waiting for the actual provision of funds to the club (rather than the promise), particularly in the light of the fact that it is now broadly believed that current funding will not be sufficient to see us through April. When we asked him last week Mihail was not clear about the vehicle through which funds could be made available to the club.

CAST has written this week to the EFL following up our previous letter and requesting confirmation that they have now received new documentation in respect of proof of source and sufficiency of funds and that they are giving this appropriate and timely attention.

We also understand that Mihail and Florica's names have been passed to the EFL for their Owners & Directors test (ODT). We learn from The Romanian News Agency Agerpres this week that:

"The Bucharest court on Tuesday ordered the cessation of the criminal case against businessman Claudiu Florică and former tennis player Dinu Pescariu, accused of money laundering in the Microsoft case, because the facts they were accused were prescribed. On the other hand, the magistrates ordered Dinu Pescariu and Claudiu Florică to pay each $ 10,858,479, following the special confiscation."

It is unclear how this will affect Florica's ODT application. A "disqualifying condition" under the ODT requires an "unspent conviction" and it is not clear whether the above amounts to a conviction.

In the meantime it has been confirmed by Richard Cawley of the South London Press that former directors Derek Chappell, David Sumners and Bob Whitehand are preparing an injunction (to be applied for next week) to reverse the sale of the club from Roland Duchatelet to ESI. They are three of seven former directors who have a charge over the assets of the club.

The Evening Standard ran a story on Tuesday claiming that Tahnoon Nimer was "exploring options" to  sell the club. The article said that:  "Nimer’s lawyer, Chris Farnell, denied any suggestion his client was interested in selling when contacted by this newspaper, but it is understood there is at least one “substantial” interested party, while another ended negotiations due to the complexity of the deal."

Marian Mihail also contacted CAST on Thursday and denied that Nimer is considering selling the club.

Richard Cawley tweeted this morning (Friday) That "my understanding of the "legal obligation" for ESI to purchase The Valley and TG is that the six months mentioned is when the option starts. It then runs out until 2025. So a five year window before Duchalet is able to force the completion through".

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