Charlton AthleticSport

Joshua Friedman-fronted group have improved offer for Charlton Athletic accepted

Joshua Friedman’s group have had a fresh bid accepted for Charlton Athletic by owner Thomas Sandgaard.

The Addicks had previously been in a period of exclusivity with that party, who were brought to the negotiating table by former Sunderland co-owner Charlie Methven in December.

They had started legal action against Sandgaard, claiming that he breached the terms of their exclusivity deal when he entered into talks with American businessman Marc Spiegel earlier this year.

But now an improved offer for the Addicks has been agreed with Sandgaard.

Gabriel Brener is also a key financial backer in the Friedman bid and there is an intention for the deal to be approved by the EFL by the start of June – when clubs can begin to officially trade in the summer transfer window.

The reality is that teams are already cracking on with lining up deals.

Picture: Paul Edwards

Charlton’s strategy will be shaped by who is at the helm.

Shortly after the initial Friedman-fronted bid was accepted it led to a raft of appointments – including manager Dean Holden, technical director Andy Scott, COO Jim Rodwell and finance director Ed Warrick.

But only Holden stayed on once the Spiegel deal started being worked on with Peter Storrie coming in as CEO.

Holden ended up signing a new long-term contract until 2026.

If any new party were to enter the bidding for Charlton then the due diligence and EFL approval process would carry over the summer, making that look an unlikely scenario.

A senior figure at the MSD finance group has an interest in the League One club while Armenian businessman Roman Gevorkyan is another individual who has been mentioned to the South London Press. There has also yet to be any confirmation from Spiegel’s party that they are completely out of the equation.

Picture: Paul Edwards

Our paper contacted the Addicks at the start of the week when we were told the Friedman bid had been accepted but the response was only that “negotiations were continuing”.

Charlton Athletic Supporters’ Trust have called for Sandgaard to sell the club and it is understood any takeover would see the US-based Dane retain no stake.

“We don’t know whether the Methven/Friedman group would be any good, but we do know that we and the fanbase are done with the current one,” said CAST in an update on their website last week.

Rodwell confirmed to CAST that Friedman, Friedman’s son Spencer, Brener and Global Football Partners, made up of Methven and several smaller investors would be providing the funds for their takeover.


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