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Page last updated at 11:49 GMT, Tuesday, 22 September 2009 12:49 UK

Charlton receive 7m investment

Charlton Athletic

Charlton's good start to the season has been boosted by a £7m investment from seven of their directors.

It is hoped that the money will help the Addicks, who are currently second in League One, win promotion to the Championship at the first attempt.

The directors had previously agreed to use £1.5m of the money to buy the club's training ground, but have now agreed not to complete that purchase.

Those assets will instead be left with the Charlton Athletic Group.

The directors participating in the deal are plc chairman Derek Chappell, club president and plc director Sir Maurice Hatter, club chairman Richard Murray, deputy plc chairman Robert Whitehand, plc directors David Sumners and David White, and football company director David Hughes.

Chappell said: "We have been working extremely hard in recent months to attract new investment into the club, and indeed have made progress with a number of interested parties, only for that interest to fail to result in any tangible benefit.

"Attracting new investment into the club continues to be our primary objective.

"I hope that by retaining our key players, and indeed adding to the squad during the recent transfer window, we have once again demonstrated our commitment to the club, both as supporters and investors.

"After such an outstanding start to the season, it was essential that we brought stability to the club's finances and removed the need for player sales.

"The action we have taken will achieve both objectives and hopefully provide the platform for us to make an immediate return to the Championship."

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see also
Charlton surprise at Gills claim
14 Sep 09 |  Gillingham
Charlton linked with new takeover
07 Jul 09 |  Charlton
Charlton sell training facilities
16 Apr 09 |  Charlton
Dubai group abandons Charlton bid
23 Oct 08 |  Charlton
Charlton receive Dubai group bid
10 Oct 08 |  Charlton

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