CAFC under new ownership again

The following announcement was made on the CAFC website this morning:

Like many Charlton fans we hope we can be forgiven for responding with some weariness and a good deal of caution to the news of the sale of East Street Investments Ltd to a consortium led by businessman Paul Elliott .

We are relieved that the ownership of the club by Tahnoon Nimer and Matt Southall has formally come to an end. During their ownership the club has been charged with misconduct by the EFL; failed to provide adequate proof of funding; been subject to a transfer embargo; squandered funds on extravagant expenditure and has dropped into the relegation places.

However, we know very little indeed about Mr Elliott nor about the make up of his consortium. More importantly we have not been given any clue about his motivation in taking on, in the middle of a pandemic, a struggling football club which has crippling liabilities to former owner Roland Duchatelet.

We have urgent questions about the consortium's short, medium and long-term plans; their ability to prove source and sufficiency of funds to the EFL and their position vis a vis Mr Duchatelet and the leases on The Valley and the training ground.

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