Friday, 24 December 2010

Race against time to seal deal

Pravda aka The South London Press reports: 'The investor group locked in takeover talks with Charlton were facing a raceagainst time to complete their buyout of the League One club before the end of today, writes Richard Cawley.

The Addicks' potential new owners were hoping to conclude a deal by Christmas Eve.
But the club's former chief executive Peter Varney who is representing the group, has admitted that their hopes of assuming control today is likely to go to the wire.

He said: "We're doing everything we possibly can to complete what is a very complex transaction which involves a whole array of third parties."

[The takeover of a Norbury club] was slowed by waiting for the Football League to rubber stamp the club's change of hands. The share - which is their right to play
in the division - has to be transferred.

But Varney, when pressed said: "The Football League is not an issue."

In my view if it does happen today, it will be very late.

17.45: Richard Murray has tweeted, 'We are currently finalising aspects. We expect to be able to make a more substantive statement very soon.'

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