Takeover closer?

Richard Cawley reports that a spokesperson for Marc Spiegel says that they look like they may close their deal for Charlton this week. Exclusivity period has expired with Thomas Sandgaard but they also added that negotiations and talks have continued since then.

Cawley warns, ‘Not only does any party buying Charlton need to pay the sum agreed with Thomas Sandgaard, they also have to show EFL how they will fund/run the club for the next couple of years. That process has become more stringent.’

He adds: 'If the deal falls through then TS needs to cover the losses. Summer months are the most painful as no income. Not got exact figures to hand but think £700k a month.'

According to Bloomberg, Spiegel is seeking financial backers for his takeover.   His bidding company — Football Strategies Group — has been in discussions with Charlton since early February, according to an investor document. 

Football Strategies Group signed a potential £11.6 million ($14.4 million) deal for Charlton. It is also looking to inject £20 million into the London club, according to the document. It describes loss-making Charlton as an attractive risk-adjusted investment, though doesn’t say what size stake is being offered. 

“Our ambitions are more than just purchasing a club,” Spiegel said in a telephone interview with Bloonberg. “We want to elevate the club, expose it to new audience and win on the pitch.” A spokesperson for Charlton declined to comment. 

From Spiegel's Charlton sales document: 'Current talent level and work ethic among employee base is not up to par.' VOTV website editor Rick Everitt comments: 'Might well be true but I’m not sure this is how you want to introduce yourself to existing staff?'