Consortium led by businessman Paul Elliott purchases East Street Investments

East Street Investments, the company that owns Charlton Athletic, has been taken over by a consortium led by businessman Paul Elliott.

Elliott will become the club’s owner and chairman and wants to bring some stability back to The Valley.

He said: “On behalf of the consortium I am delighted to have been given this opportunity to take ownership of Charlton Athletic. I recognise this club means so much to its fans and I will take the responsibility very seriously. 

“I will be looking to ensure the stability of the club moving forward so we can look to put behind us the recent boardroom events and concentrate on building a unified boardroom and a unified football club.

“I know that this club has passionate fans and we will need every bit of that passion, together with determination and hard work of everyone at the club as we restart this season. Our immediate focus will be on getting behind the team and the Manager and giving ourselves the best opportunity of staying in the Championship.”

Hammersmith-born Elliott has had a successful career in business, having started with a property management company which he then turned into a large portfolio of residential and commercial units. He has since invested in a variety of other successful companies across a variety of industries.

The arrival of Elliott’s consortium means the departure of former owners Tahnoon Nimer and Matthew Southall.

The club has been in touch with the EFL and will now meet with the league to begin the process of finalising the change of control including matters relating to the Owners' and Directors' Test.

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