Charlton takeover completed

Your support helps us to tell the story

Support Now

Find out moreClose

As your White House correspondent, I ask the tough questions and seek the answers that matter.

Your support enables me to be in the room, pressing for transparency and accountability. Without your contributions, we wouldn't have the resources to challenge those in power.

Your donation makes it possible for us to keep doing this important work, keeping you informed every step of the way to the November election

Andrew Feinberg

White House Correspondent

Charlton have been taken over by businessmen Michael Slater and Tony Jimenez.

The Addicks, currently third in npower League One, have been searching for new investment since they were relegated from the Barclays Premier League in 2007.

Lawyer and businessman Slater becomes the club's new chairman and Jimenez, who briefly held the post of vice-president (player recruitment) at Newcastle, will be on the board along with outgoing chairman Richard Murray and former chief executive Peter Varney.

"We are delighted to have taken control of Charlton," Slater, 44, told the club's official website, www.cafc.co.uk.

"The club has a long and proud history and has an incredibly loyal fanbase.

"I'd like to pay tribute to Richard Murray, who took on a huge financial responsibility last summer when he saved the club from almost certain administration while he sought new investment.

"Today's acquisition brings much-needed financial stability to the club. Our plan is to run the club on a sensible financial footing and develop a commercial plan to ensure we make progress on and off the pitch to meet the expectation of the fans.

"What we won't do is create unrealistic pie-in-the-sky expectations."

Jimenez, 48, had previously been linked with a takeover at The Valley with his close friend Dennis Wise, whom he also worked alongside at Newcastle.

The cost of the buy-out has not been disclosed.