Media: Front runner to take over Charlton has walked away

2 July 2019

Dalman
Photo: Getty Images Cardiff City’s chairman Mehmet Dalman has pulled out of negotiations to take over Charlton, according to media reports.

Cardiff City’s chairman Mehmet Dalman has pulled out of negotiations to take over Charlton, according to media reports.

Dalman was reportedly the leading candidate to acquire the club.

Charlton maintains that discussions with three other potential takeover parties are still in progress.

Peter Høyer ph@offthepitch.com

Speculation has been rife that Cardiff City chairman Mehmet Dalman, who tabled a £30 million bid for the club in March, would emerge as the new owner of Charlton Athletic. 

But according to the Evening Standard, Dalman has now walked away from negotiations with the club. Reportedly, current owner Roland Duchatelet has raised his asking price for the club to close on £50 million. And this seems to have turned Dalman’s interest off.

Furthermore, the Evening Standard understands that complications with the deal contributed to Dalman’s decision. Several former club directors are owed a total of £7 million if the club reaches the Premier League. And it is believed that several of these individuals want to settle their debts as part of any takeover, leaving a new owner to foot the bill. 

Negotiations continue

Discussions have been ongoing with three other groups for some months, but these have yet to yield a result.
Lieven De Turck, the man appointed by Duchatelet to sell the club, suggested a deal was close at a fans’ forum in April. But despite revealing that one group had entered the due diligence process and was on the cusp of completing a takeover, no deal materialised.

According to the Evening Standard, there are now two other consortia still in the frame, one led by Australian businessmen Andrew Muir and Gerard Murphy. The pair were close to a £33 million deal in May. but this was not finalised, as investors struggled to get sufficient finds into the country before the club won the League One play-offs.

Charlton however insist that they are still in discussions with all three parties.