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LONDON. — A potential takeover of Charlton Athletic has been put on hold for seven days after a court granted an interim injunction against a sale.
The English League One club are home to Zimbabwean international striker, Macauley Bonne. It allows Paul Elliott the time to appeal Tuesday’s verdict, where a judge refused to grant a full injunction until he was able to take his claim over ownership of the club to court.
Elliott had initially agreed a deal in May to buy Panorama Magic’s 65 percent shareholding in the club, before failing the EFL’s owners’ and directors’ test.
Elliott argued in court on Tuesday any sale should be prevented until he had the opportunity to appeal that decision.
Panorama’s majority shareholder Tahnoon Nimer has been looking for new buyers.
Nimer, who owns 65 percent of the club through his holding company Panorama Magic, can now complete a deal with US-based Danish businessman Thomas Sandgaard.
Sandgaard will have to wait until 4pm on September 9 before he can complete any takeover On Tuesday, Judge Pearce ruled there was a very real risk Charlton Athletic Football Club could suffer extremely severe consequences if it was not possible for another buyer to invest.
Sandgaard flew into the UK last week and was at Charlton’s EFL Trophy match against AFC Wimbledon on Tuesday.
The Danishman has told Sky Sports News he is confident a takeover agreement is close.
“That was obviously fantastic and it was interesting to hear in the judges decision how much the immediate future of the club is so important, and [how he is] actually acknowledging that the fans have been in all this”, he said when giving his reaction to Tuesday’s verdict.
“But now we can move on. Hopefully the rest is just a few formalities and everyone can agree with the agreement and get on with it. I’m so excited.” — SkySports.
Online Reporter