Charlton Athletic takeover completed by East Street Investments

Charlton Athletic takeover completed by East Street Investments
East Street Investments (ESI), a consortium led by Abu Dhabi-based businessman Tahnoon Nimer and former agent Matt Southall, has completed its purchase of second-tier English soccer outfit Charlon Athletic, ending Roland Duchatelet’s tenure as majority shareholder.

The deal was first announced in November but was subject to approval from the Championship’s governing body, the English Football League (EFL), which has now been received.

Nimer and Jonathan Heller, respective Chairman and Chief Executive of Abu Dhabi Business Development, join Charlton as directors, while Southall is the club’s chairman.

Following confirmation of the deal, Southall stated: “Now, for us, the hard work begins. We already have plans in place to support [Charlton manager] Lee [Bowyer] and his staff over the next month.

"But most important is strengthening our links with both the fans and the Charlton community so they may understand our short-term and long-term plans for the club and how we intend to build on the amazing support and goodwill already shown to ESI."

Duchatelet’s time in charge of Charlton was marred by his poor relationship with the team’s fans and the Belgian has been attempting to sell the London club since late 2017.

Following the sale, he stated: “It was vital for the long-term health of Charlton Athletic that this deal was completed at the very start of the January transfer window.

"It allows the new owners to commit resources to the football side in order to bring in new players who will help secure the club's position in the Championship.

"This is a hugely exciting time for everybody involved with Charlton Athletic and I believe the club is in safe hands with His Excellency Tahnoon Nimer, Matt Southall and Jonathan Heller."

Duchatelet took charge of Charlton in 2014, making them one of several soccer clubs he owns across Europe. After five managerial changes in just two years, the club were relegated from the Championship in 2016 and the owner’s relationship with the fans diminished quickly.

Charlton earned promotion back to English soccer’s second tier in May and currently sit 19th in the table.

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