What is happening at our club? – weekly update

Fri Aug 7 2020

With just 36 days to go before the start of the new season the EFL issued the following statement on Friday afternoon:

"At its meeting earlier this week the EFL Board was asked to consider Owners' and Directors' Test (OADT) applications lodged by Charlton Athletic in respect of a number of different individuals.

Following a full and comprehensive appraisal of all the relevant matters the Board determined that three individuals were subject to a Disqualifying Condition and the EFL declined to approve their applications.

Those individuals have 14 days to appeal the decision. The EFL continues to consider applications from other individuals under the OADT"

It is our understanding that previous applications under the OADT had been approved so we believe that two of the individuals must be Paul Elliott and Chris Farnell.

Unless the pair lodge successful appeals the outcome of this will be that the sale of ESI from Tahnoon Nimer to Paul Elliott is void, and ownership of ESI and CAFC remains with Tahnoon Nimer.

The key to Charlton's future continues to reside in Belgium as, although we believe Nimer would be keen to find someone to take the club off his hands, reputable buyers such as Andrew Barclay / Peter Varney are unlikely to entertain entering into a deal for the club without the property freeholds for which Duchatelet is still expecting an unrealistic price.

 

Last Friday evening (July 31st) a group of supporters got together at The Elephant & Castle pub in Woolwich to discuss the state of the club. The organisers of the meeting were keen to stress that they were not setting up another fans group. On the contrary, they urged fan unity.  One outcome of this meeting was the setting up of an email address for fans who wished to register their interest:

farnellelliotout@gmail.com

On Saturday afternoon Matt Pennycook, the MP for Charlton's constituency tweeted:

"I have never been so concerned about the future of @CAFCofficial. ESI have had months to supply the information required. The time for discussions, however "constructive", has passed. The @EFL needs to promptly determine ESI’s application for approval #cafc"

Chris Farnell issued a statement this week through the PR agency Onside PR defending himself against "abuse" from Charlton supporters.

https://www.onsidepr.com/ips-law-statement-re-charlton-athletic/

On Thursday a parody Twitter account "Chris Morris Farnell" leaked a brochure advertising investment opportunities in Charlton Athletic with 6% interest expected on a £25m investment. The brochure included the "development opportunity" of "relocation to 40,000 multi-purpose stadium on the Peninsular (sic)". We believe that the prospectus was written by Matt McCarthy and was used by Matt Southall to try to raise funds in January.
A statement soon followed from the club saying that the document "had not been produced by anyone currently working at the club or any member of the club's prospective new ownership group" It continued "The club's prospective new owners have no plans to sell off The Valley. The stadium is owned by Roland Duchatelet so the consortium would not be able to sell the stadium regardless"
Meanwhile, Sheffield Wednesday were sanctioned twelve points starting next season so Charlton's relegation was confirmed:

 

Late news:  We understand that the club is no longer under a "soft" transfer embargo whereby it can sign new players as long as it remains under a capped level of salary expenditure. The club is no longer permitted to make new signings. We will pursue further details on this.