Charlton owner Thomas Sandgaard has rejected former Sunderland director, Charlie Methven’s bid to take over the club, according to The Athletic.

Sky Sports reported on Sunday (April 30) that a formal offer to take over the club was received on Thursday. The offer was believed to be worth £10.5 million and comes after a breakdown in negotiations in Feburary.

Following the breakdown in negotiations, Sandgaard said that Methven’s group of investors “didn’t comply” with some “very specific terms” of their agreement, whereas Methven’s group claimed that Sandgaard had been offered more money for the club from a rival bid, led by American businessman Marc Spiegel.

Sandgaard then decided to pursue alternative routes and a deal with Spiegel seemed close, and was set to be completed recently. But after the deal allegedly fell through again, the League One club’s future has been left uncertain once more.

It is believed that Sandgaard had valued Charlton at £11 million last year, so the updated bid of £10.5 million that was received on Thursday was close to the asking price. But according to The Athletic, Sandgaard contacted Methven’s group to inform them that the asking price for Charlton has now increased to £12.5 million.


So, what does this mean for Charlton?

On the footballing side of things, the club are 10th in the league, and play away at Cheltenham Town in their final game of the season on Sunday.

The Addicks have had an inconsistent season to say the least. Charlton were fifth in the league after five games, which included a 5-1 win against the current league leaders, Plymouth Argyle. But two months later, and Charlton had dropped 13 league places, sitting 18th after 12 league games played.

But one consistent bright light for Charlton was Jesurun Rak-Sakyi, who was awarded the Charlton player of the season award on Saturday night. Rak-Sakyi is Charlton’s top scorer this season with 15 goals, and he also recorded eight assists along the way. The problem for Charlton is that he will return to his parent club Crystal Palace, when his loan spell ends at the end of the season, and there is no guarantee they’ll be able to get him back.


Charlton will want to keep hold of young talent Miles Leaburn, as they try to fend off interest from Aston Villa. Many young talents have left Charlton in the past, such as Ademola Lookman and Nick Pope, but Charlton will be hoping they can keep hold of their young player of the season, who scored 12 goals in 34 games this term.

With Charlton’s future uncertain, keeping hold of their young talent is going to be vital. They face a difficult transfer window coming up, as they try to improve the squad and keep hold of their talented youngsters, in an attempt to build a squad that can push for promotion next year - all while dealing with the ownership issue.

The Addicks will be hoping to get all of their ownership issues over sooner rather than later, so they don’t pay the price for a failed summer transfer window this time next season.