Charlton owner Thomas Sangaard threatened with legal action over collapse of club’s takeover | Football News

The businessman trying to buy Charlton Athletic has threatened current owner, Thomas Sandgaard, with legal action unless he quickly completes the sale of the club.

Former Sunderland director Charlie Methven has told Sky Sports News that he believes he has a legally-binding contract for the purchase of the club, and that he is still determined to complete his takeover.

The statement from Methven comes after Sandgaard said on Thursday that the deal was off – on the day the purchase was due to be completed.

Sandgaard hasn’t made any public announcement, but he has told local media sources that the prospective buyers hadn’t complied with some of his specific terms, and so withdrew the sale at the last minute.

In a statement, Charlie Methven and his co-investors have told Sky Sports News: “Our group refutes Thomas Sandgaard’s claim last Friday February 10 that we are in breach of the signed agreement to buy Clear Ocean Capital, the holding company of Charlton Athletic.

“We were expecting to complete the deal last Thursday, February 9. A substantial deposit had been paid, the agreed purchase price had not changed, the money required was in the relevant bank accounts and Owners and Directors Test applications had been lodged with the EFL.

“Our clear legal advice is that we are still in exclusivity to complete the purchase and we still expect to do so imminently, as stipulated by the agreement of December 20 signed by Mr Sandgaard.

“We note Mr Sandgaard’s statement that he has been conducting discussions with other potential investors and had been working on ‘a Plan B’. Such actions were, and are, in contravention of the exclusivity agreement, and any third party participating in such discussions would be committing tortious interference, for which the penalties are significant.

“We note also Mr Sandgaard’s removal of the entire senior management of Charlton Athletic, also in contravention of the December 20 agreement.

“This, together with attempting to renege on the deal, has introduced unwelcome uncertainty and instability to the club and its’ fans, after a brief period when a competent management team had started to plan constructively for the club’s future.

“We urge Mr Sandgaard to complete the signed deal he previously agreed without the necessity for legal action.”