CHARLTON chief Tahnoon Nimer has handed over the Addicks to a new regime put together by club lawyer Chris Farnell.
Nimer’s brief five-month reign as owner, through his East Street Investments company, ended in acrimony with partner Matt Southall.
Charlton chief Tahnoon Nimer has handed over the Addicks to a new regime put together by club lawyer Chris Farnell
And, after weeks of uncertainty as various bidders tried to fight for control, Nimer has found a buyer.
Farnell was in charge of the search for a financial backer and put together a package, with Manchester-based businessman Paul Elliot involved.
A deal to purchase the Addicks proved too costly and complicated for ex-Swansea chief Huw Jenkins, while other bidders were not encouraged.
Previous owner Roland Duchatelet still wants around £50million from a land deal — but the running of the club will now be in new hands.
Farnell scraped together the cash to pay last month’s wages — with funds low and despite a pay deferral scheme.
“It’s been a tough decision but he listened to the fans’ wishes. Tahnoon will hand the club to the consortium and they have the time and money to take it forward.
A source told SunSport
And this deal will guarantee Lee Bowyer and his team head into the Championship restart on June 20 with some certainty on the financial front.
Both Nimer and former agent Southall took charge before falling out amid rows over spending, as the team’s results slumped and the money ran out.
A source close to Nimer said: “It’s been a tough decision but he listened to the fans’ wishes.
“Tahnoon will hand the club to the consortium and they have the time and money to take it forward. He hopes the decision will ensure the club is in a position to build for the future.”
The fact the new owners will take over the ESI deal with Duchatelet does leave the door open for a second takeover down the line.
Former Charlton CEO Peter Varney and ex-Ritz owner Andrew Barclay also tried to buy the club.
Duchatelet — hated by fans during his reign — wants his money from the land and is also due seven-figure bonuses if the team stay up or make the Premier League at any point.
So his shadow still looms but sources close to Farnell’s camp say they will be ‘sensible’ owners who build slowly.
Nimer later wrote on his Instagram: “You will all be aware of the recent Boardroom events, which, with this announcement we can now put behind us.
“I have made the difficult decision, having received advice, and listening to the fans wishes, to hand the club over to a consortium that will have sufficient time and be in a position to take the club forward and I would like to reassure you all that I have at all times sought to do all that is right for our club and its fans.
“I have made this decision to ensure the club is in the best position to move forward and re-establish itself into footballs elite.”
Nimer’s five-month reign as owner ended in acrimony with partner Matt Southall (right)
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Source: Soccer - thesun.co.uk
