Charlton takeover: Roland Duchatelet’s reign ends as East Street Investments buys club

Roland Duchatelet’s controversial reign as the owner of Charlton Athletic has come to an end after selling the club to a consortium. The Belgian bought Charlton for £14m in 2014 but his five years in charge were largely disastrous, coloured by a fractious relationship with the club’s supporters, and there will be relief across much of the fanbase at his departure.

Soon after buying the club Duchatelet’s relationship with popular manager Chris Powell deteriorated, with leaked emails later revealing his meddling in tactics and team selection, and Powell was soon sacked. A further eight managerial stints followed in addition to three caretaker posts, culminating in current manager Lee Bowyer, who led the club back to the Championship from League One last season.

Duchatelet, who also had an acrimonious time in charge of his native Standard Liege before selling the club, was rarely spotted either at The Valley or any Charlton events and never built a rapport with supporters, who organised a series of creative protests against his ownership.

The new buyer is East Street Investments, fronted by Matt Southall, a former football agent and fitness entrepreneur who will be the club’s new non-executive chairman. East Street Investments’ majority shareholder is Tahnoon Nimer, an Abu Dhabi-based businessman, who will become a director alongside British businessman Jonathan Heller. The deal remains subject to approval by the Football League.

In a statement, Southall vowed to engage with supporters’ groups and bring “pride” back to The Valley.

“We are privileged to take ownership of such an historic club and it is incredibly exciting to be part of the process of building a fresh future for the fans, loyal club staff and players of Charlton Athletic.

While we may be the club owners, truly we are only the custodians. The true spirit of this football club rests with the fans, it is nothing without them. Their support throughout some difficult times both recently and in the past has been inspirational and we intend to build on that loyalty. Our priority will be immediate contact with fan groups in order that their views play a major role in the club going forward.

We believe the football side of the club is in excellent hands with Lee Bowyer and what he and the players have achieved following promotion has been outstanding. We will do everything possible to support Lee’s vision and ambitions.

We would like to thank Roland Duchatelet, his team and the directors for helping to facilitate a quick and smooth sale. They leave the club with solid foundations on which we can invest and build.

Any deal of this kind is subject to the approval of the EFL and we are now working closely with them on the final details to satisfy their Owners’ and Directors’ Test. Until that has been received, we will be making no further comment.

But please be assured we intend to do everything within our power to bring back a true sense of pride to Charlton Athletic Football Club which is the least the fans, future generations of supporters and the community deserve.”