Charlton Athletic takeover: New consortium buys club as controversial chairman Matt Southall departs

The Valley has been an unhappy place at times in recent years (Getty)

Charlton have been taken over by a consortium led by the Manchester-based businessman Paul Elliott in the latest twist of the club’s long-running ownership saga.

Elliott and his backers have taken over East Street Investments, the company set up by previous owner Tahnoon Nimer and chairman Matthew Southall, who have now departed the club. Elliott’s arrival is subject to the EFL’s owners’ and directors’ test.

ESI bought the club from Belgian owner Roland Duchatelet in January, who much of the fanbase were desperate to see depart after seven acrimonious years. However the majority shareholder Nimer quickly fell out with Southall, with a public spat centred around Southall’s personal expenses.

London-born Elliott said: “On behalf of the consortium I am delighted to have been given this opportunity to take ownership of Charlton Athletic. I recognise this club means so much to its fans and I will take the responsibility very seriously.

“I will be looking to ensure the stability of the club moving forward so we can look to put behind us the recent boardroom events and concentrate on building a unified boardroom and a unified football club.

“I know that this club has passionate fans and we will need every bit of that passion, together with determination and hard work of everyone at the club as we restart this season. Our immediate focus will be on getting behind the team and the Manager and giving ourselves the best opportunity of staying in the Championship.”

There remains plenty of uncertainty over the club’s future. Duchatelet still owns The Valley stadium and the club’s training ground, which Elliott is determined to regain control over.

The former chief executive Peter Varney and businessman Andrew Barclay are also interested in having a say in the club’s future, and are set for imminent talks with Elliott and his lawyer, Chris Farnell, reports the Evening Standard.