Charlton confirm Dubai takeover interest

Charlton Athletic have confirmed a Dubai-based investment company is looking at the club for a takeover.

Zabeel Investments were last month linked with Newcastle as unpopular billionaire owner Mike Ashley looks to sell up, but have now turned attention to the Addicks.

A statement by the club confirmed an "indicative cash offer" had been made, subject to a number of preconditions including due diligence.

Charlton's statement continued: "Should the offer be made formally to shareholders, the board would recommend shareholders to accept it.

"There is, however, no certainty that a formal offer will be made.

"Zabeel Investments had been looking at the opportunity to invest in a leading English football club and had been monitoring the situation at Charlton Athletic Football Club closely.

"In spite of being approached by various English football clubs, as well as a number of well-known clubs in Europe and South America, Zabeel Investments believes Charlton is the right club for them."

Zabeel Investments executive chairman Mohammed Al Hashimi said: "We feel now is the right time to make a strategic, long term investment in Charlton and get CAFC back to the English Premier League where they belong.

"The passion of the fans at Charlton, the heritage of the Club and the unique status it enjoys in the community make it an exciting proposition for us.”