Charlton Athletic Owners Agree to Varney Takeover
December 4, 2010
Legal and financial due dilligence processes have now begun and the takeover is expected to receive official clearance before the 24th December. Charlton fan Richard Murray is owner of the Baton 2010 Ltd. who took control of the club earlier in the year to restructure the English soccer club. Charlton Athletic PLC had previously announced that it could no longer operate under the weight of its £30m (US$47m) debt. A bid from Sebastien Sainsbury was turned down by Murray in November.
Proposed new owner Peter Varney held his position as chief executive for 11 years between 1997 and 2008.