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Zabeel abandons Charlton deal
By Pete Hayman
Dubai-based Zabeel Investments has pulled out of a deal to acquire Charlton Athletic Football Club (CAFC) due to ongoing economic uncertainty.
CAFC announced that it had been the subject of an indicative offer from the investment company on 10 October, but Zabeel decided not to proceed any further. A statement from the club said: "Zabeel Investments has informed Charlton that its focus moving forward will be on domestic opportunities in Dubai that complement the current Zabeel Investments porfolio.
"This, combined with the current debate around foreign ownership of football clubs and the worsening economic climate in the UK, contributed to the decision." The statement also rejected suggestions that Zabeel was now looking to invest in a club elsewhere: "Zabeel Investments has confirmed that it has no current intention to acquire any English football club for the foreseeable future," it said.
Dubai-based Zabeel Investments has pulled out of a deal to acquire Charlton Athletic Football Club (CAFC) due to ongoing economic uncertainty.
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