Sandgaard rejects new offer

Thomas Sandgaard has already rejected an improved offer for the League One club from the Anglo-American group led by former Sunderland director Charlie Methven.

The group, which is known as SE7 Partners Limited and is funded by three California-based investors, initially agreed to buy a 90 per cent stake in Charlton for £8.5million in December but that deal fell apart shortly before completion in February.

SE7 Partners never completely walked away and on Thursday last week the group made a new offer to Sandgaard: £10.5m for the entire club, with two promotion-linked bonus payments that could take the final price to £11m.

Given Spiegel’s failure to close his deal over the last two months and the fact that Sandgaard had valued Charlton at £11m last year, SE7 Partners felt its revised offer was a fair price for a club that is heading towards its fourth consecutive year in English football’s third tier next season.

However, Sandgaard contacted the group on Saturday to say the price is now £12.5m and he has other interested parties. Including the price he paid to buy the club in 2020, he has invested around £16m into Charlton.

But Charlton, like most clubs in the English Football League, loses money every year and Sandgaard, thanks to the deposits paid by SE7 Partners and then Spiegel, has not had to fund those losses for six months.

Iit should also be noted that SE7 Partners’ threat of legal action is just a threat at the moment but will be activated if Sandgaard refuses to either settle or sell up.