Charlton Athletic Owners Agree to Varney Takeover

By Community | December 4, 2010

Baton 2010 Ltd., see owners of Charlton Athletic soccer club of NPower League One, therapy have agreed the sale of the club to former chief executive Peter Varney.

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.