The Charlton Athletic takeover saga has received an update as the process to buy the club continues and Richard Cawley has provided an update on his Twitter, regarding where the situation is currently at.
The ownership of Thomas Sangaard was something which seemed promising to fans of the club when he arrived in 2020, but it soon went south for the Dane, as many fans deemed his investment to not be enough for the ambition of the League One side and results on the pitch certainly did not help his case as it showed the club needed more. The businessman fell into the trap of overpromising to their fans as he not only promised a return to the Premier League for the Addicks, but they would achieve European football. He has not even managed to take a step towards that goal, as the club has failed to even finish in the playoff places under his tenure.
Sangaard eventually put the club up for sale at the beginning of this season, but one deal has already fallen apart and a consortium had a bid accepted at the beginning of May, but there has been no update on the deal since then. Not only will the fans be eager to hear where they stand next season and who they stand with, but more so will the players and manager Dean Holden, so they know what they have to work with next season.
Cawley took to Twitter to update fans on what the current situation is with the deal to purchase the club. With the aim for the takeover to be completed at the beginning of June, the South London Press journalist has stated that the deal is nowhere near completion with June fast approaching. It has been revealed that the consortium consisting of Joshua Friedman has still not signed an SPA (Sale and Purchase agreement) between his party and current owner Sangaard. Even when that has been completed, there are still further steps which not to be completed as his partners in the consortium will have to pass Owners & Director’s Test which the EFL requires them to in order to sanction the sale.
Writer’s View
It is a tense time for Charlton Athletic as their fans desperately want to see their side make progress and move back towards the top flight where they started this century. Sangaard seemed to be a breath of fresh air, but it has not worked out for them and they will be wary when the new owners step in and Dean Holden will also be anxiously waiting on the deal as he prepares his squad for the new season.
