16 Oct 2008

Dubai's Zabeel on track to buy Charlton Athletic

5:28 am on 16 October 2008

An executive from Dubai's Zabeel Investments, which last year tried to buy the English premier league football club Liverpool, says the company hopes to complete a deal to acquire Charlton Athletic soon.

The English Championship (second division) team said last week it had received an indicative cash offer from Zabeel which its board could recommend to shareholders once certain conditions were met.

Zabeel was part of a Dubai consortium trying to buy Liverpool and was linked in September with a bid for fellow Premier League club Newcastle United, whose owner Mike Ashley is looking for a buyer under pressure from discontented fans.