Football finance expert Kieran Maguire has been discussing the current situation at Charlton Athletic from a financial standpoint.
This comes after Maguire recently made an appearance on The Price of Football Podcast where he spoke about the financial aspects of a range of different issues surrounding football at the moment.
There has been concern over Charlton Athletic’s future of late, amid uncertainty over the club’s ownership. On the topic of the current financial situation at the London club and if there looks to be any conclusion to it, Maguire shared his thoughts on the matter.
He said: “It’s going to take some time. I suspect it’s going to be expensive in terms of unravelling the relationships and coming to an agreement which is acceptable to [Roland] Duchatelet because to a certain extent, he does hold the cards in that he’s the legal owner of The Valley and the training ground. The EFL, they weren’t happy with the people at ESI so that’s why Charlton had a transfer embargo in January.
“They clearly have issues with regards to Paul Elliott. We’ve got to give them some credit here, they are trying to invoke a set of rules, which in my view, are almost impossible to apply unless you’ve got some form of government backing for them and it’s going to end up either in a lawsuit or a battle between lawyers, you know, sending each other increasingly snotty letters or faxes.”
Earlier this year, in March, Charlton released a club statement revealing that they were given a transfer embargo back in January by the EFL.
This was because Tahnoon Nimer apparently failed to provide the relevant information required by the EFL in regards to the takeover of the club by East Street Investments back in January.
Are you looking forward to next season?
Yes
No
TIF Thoughts…
Unfortunately for Charlton, Maguire thinks that this current financial situation the club are in is not looking likely to end anytime soon.
With the Addicks being relegated from the Championship at the end of the 2019/20 season, the best thing they can do now would be to focus on having a successful season in League One and hope that there can be some sort of solution to their financial issues behind the scenes in the meantime.