SE7 Partners are set to be announced as the new owner of Charlton Athletic after the EFL approved their takeover bid last night.
A share purchase agreement between SE7 Partners and Thomas Sandgaard was signed at the beginning of June.
The South London Press reported on Friday that US-based Dane Sandgaard had removed all mention of the club off his social media and cleared out his prized belonging at The Valley with a deal virtually completed.
SE7 Partners are awaiting approval to take control of the women’s club and that is expected this morning.
Sandgaard also has to counter-sign an EFL letter. Each investor in SE7 Partners has had to sign a letter confirming a two-year cash commitment – relevant to their percentage of ownership – at the financial level determined by the EFL’s funding department.
A formal announcement could happen today.
SE7 Partners, which includes former Sunderland part-owner Charlie Methven, first entered into a period of exclusivity with Sandgaard at the end of 2022.
There were pitfalls along the way with SE7 Partners threatening legal action after Sandgaard broke off negotiations to try and thrash out a deal with American Marc Spiegel.
But when Spiegel failed to be able to produce the necessary capital, SE7 Partners returned with an improved offer for the League One club.
Methven will own a small stake in Charlton with Jim Rodwell, who had a brief spell as COO before Spiegel became the preferred bidder, set to come back. Peter Storrie, brought in as CEO when the SE7 Partners deal initially broke down, has already been quoted saying he expects to leave once a takeover is completed.
Andy Scott, who was also installed as technical director on a short-term deal in December, is also expected to return.
Rodwell told Charlton Athletic Supporters’ Trust that SE7 Partners would disclose the breakdown of their ownership group once the takeover was done. Wealthy American businessmen Joshua Friedman, his son Spencer and Gabriel Brener have already been mentioned as significant backers.
Methven’s group were the driving factor in Charlton appointing Dean Holden as manager.
Many Charlton fans have clamoured for a change of ownership with Sandgaard unable to revive the club’s fortunes after relegation from the Championship in July 2020.
Although they narrowly missed out on the League One play-offs in the campaign after that – Sandgaard acquiring the football club in September 2020 – they have been woefully wide of the mark in the past two seasons as they have finished in mid-table.
Charlton’s form under Holden in the second half of last season suggests a top-six target is attainable, especially with the squad being strengthened.
Ipswich Town midfielder Panutche Camara is a loan target for the Addicks, with his agent posting on his Instagram page that he was at their training ground yesterday.
SE7 Partners’ deal is for the football club with Roland Duchatelet still owning The Valley and Sparrows Lane training ground. The two sites are rented at a cost of £500,000 a year.
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