MICHAEL Slater is the new chairman of Charlton Athletic after successfully completing a takeover of the Addicks this afternoon.

The lawyer and businessman, 44, joined forces with international property developer Tony Jimenez to set up a company called CAFC Holdings Limited (CAFCH) to purchase the Addicks from Richard Murray.

Murray will remain at The Valley as a director, along with two other familiar faces – former chief executive Peter Varney and ex-managing director Stephen Kavanagh.

Varney is now the executive vice chairman, with Kavanagh becoming chief executive.

Both men will report directly to Slater.

Manchester City fan Slater paid tribute to the work of his predecessor on assuming control in SE7.

He said: “I’d like to pay tribute to Richard Murray, who took on a huge financial responsibility last summer when he saved the club from almost certain administration while he sought new investment.

“I’m delighted that we’ll continue to benefit from Richard’s unique insight and relationship with the club and the supporters.”

Mr Slater also explained some of his long-term aims for the club, with future financial stability a key factor.

He said: “As the new owners, we are both football fans and businessmen.

“Today’s acquisition brings much-needed financial stability to the club.

“Our plan for Charlton is to run the club on a sensible financial footing and develop a commercial plan to ensure we make progress on and off the pitch to meet the expectations of our fans.

“What we won’t do is create unrealistic pie in the sky expectations.

“We will always live within our means and, with a sound commercial approach and the run of the ball on the pitch, our aim, obviously, is to make steady, upward progress and bring success to The Valley.”

Slater admitted Charlton’s huge following was a major attraction to the new owners.

He said: “The fans have continued to support the club in large numbers over the past few difficult seasons; this was a big factor in our decision to invest and come here.

“We believe that there is significant future potential for the club with all that is happening in the local and wider south east region and we intend to capitalise on that potential.

“We are committed to creating a long-term financial platform which the club can use to realise its obvious potential on and off the field.”

Murray said: “I have made no secret of the fact that the club has been actively seeking new investment and it has taken me some time to find the appropriate new owners, but I now believe I am passing the club to the right people who can secure its long-term future.

“I have been impressed with their enthusiasm and their plans and ideas for its future progression and I am delighted I will continue to be involved at board level with them and to help rebuild the club, both on and off the pitch.”

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