Charlton takeover fails

Zabeel Investments have pulled out of a deal to buy Charlton, the Coca-Cola Championship club confirmed today.

The Dubai-based investors, who had also been linked with a takeover of Newcastle, made an indicative offer for the club earlier this month.

A Charlton statement said: “Zabeel Investments has informed Charlton that the decision not to proceed was taken on the basis that its focus moving forward will be on domestic opportunities in Dubai that complement the current Zabeel Investments portfolio.

“This combined with the current debate around foreign ownership of football clubs and the worsening economic climate in the UK contributed to the decision of Zabeel Investments to pull out.”