Dubai investors target big time for Charlton

Dubai’s Zabeel Investments, who are looking to buy Charlton, on Saturday said the proposed deal would take the Championship strugglers back to the English Premier League.

Zabeel said they were investing for the long-term future, but gave no further details of the offer.

“The passion of the fans at Charlton, the heritage of the club and the unique status it enjoys in the community make it an exciting proposition for us,” it quoted executive chairman Mohammed al-Hashimi as saying.

“We feel now is the right time to make a strategic, long-term investment in Charlton and get CAFC back to the English Premier League where they belong,” Hashimi added.

In a statement on Friday Charlton confirmed they had received an indicative offer from the United Arab Emirate investment group.

“The board of Charlton Athletic plc announces that it has received an indicative cash offer from Zabeel Investments, a Dubai-based diversified investment company,” the statement read.

“The indicative offer is subject to a number of (waivable) preconditions, including due diligence, however, it is at a level at which, should the offer be made formally to shareholders, the board would recommend shareholders to accept it.

“There is, however, no certainty that a formal offer will be made nor as to the terms of any offer.”

The Addicks, who currently lie 14th in the Championship having been relegated from the Premier League in 2007, are the subject of an offer from Zabeel Investments, who were recently linked with buying Newcastle.

Charlton said that Zabeel “had been looking at the opportunity to invest in a leading English football club and had been monitoring the situation at Charlton Athletic Football Club closely.

“In spite of being approached by various English football clubs as well as a number of well-known clubs in Europe and South America, Zabeel Investments believes Charlton is the right club for them.”