The Statement reads as follows:
Charlton Athletic announced today that it has been informed by Zabeel Investments that it will not be proceeding with the proposed acquisition of Charlton Athletic.
Zabeel Investments has informed Charlton that the decision not to proceed was taken on the basis that its focus moving forward will be on domestic opportunities in Dubai that complement the current Zabeel Investments portfolio.
This combined with the current debate around foreign ownership of football clubs and the worsening economic climate in the UK contributed to the decision of Zabeel Investments to pull out.
Furthermore, Zabeel Investments has made it clear to Charlton that this decision was not made as a result of any discoveries during the due diligence process.
Contrary to recent press reports, Zabeel Investments has confirmed to Charlton that it has not approached any other club since it made an indicative offer for Charlton Athletic on Oct. 10, nor has it authorised any approach on its behalf.
In addition, Zabeel Investments has confirmed it has no current intention to acquire any English football club for the foreseeable future
0
Comments