Varney close to Addicks deal

02 December 2010 03:00
Charlton are close to being taken over by a group of investors fronted by former chief executive Peter Varney. Chairman Richard Murray, who took sole control of the League One club through his company Baton 2010 Ltd in August, has accepted the offer from a group represented by Varney and if all goes to plan the deal should be completed by Christmas Eve. A Charlton statement read: "The investor group is currently undertaking full legal and financial due dilligence. "Subject to the investor group being satisfied with the outcome of this due dilligence, it is anticipated that completion of the acquisition will take place no later than December 24." Varney stood down from his role at The Valley in June 2008 after 11 years. The cash-strapped club have been looking for new investment since suffering relegation from the Premier League in 2007.

Source: PA