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ESI takeover in shreds as Tahnoon Nimer pulls out

Chaos reigns again tonight after HE Tahnoon Nimer announced on social media to fans that he is pulling out of his Charlton investment. He has blamed Matt Southall and the senior management, which is really only Southall and Jonathan Heller of repatriating money for their own good. The voice note is something else. Listen here.

Later on the OS, Southall issued a statement saying that a letter was received today from Tahnoon Nimer which is in the hands of his lawyers for whom he will discuss what actions to take. Threats have been made to other members of the club’s senior management, about what who knows as East Street Investments morphs into a school playground squabble.

The supposed majority owner of Charlton was pictured outside Dinamo Bucharest on Saturday whilst we were losing to Middlesbrough.

How the f did we deserve this?

Questions of ESI, funding and Matt Southall’s qualifications in the role had started to surface ever since, well ever since Southall approached Peterborough owner Darragh MacAnthony to buy Ivan Toney to us then ending with three loaned cast off’s on deadline day.

Southall, who is driving a very nice looking Range Rover, has wooed us on social media, but talk costs nothing, and it’s difficult to see how without Nimer’s backing, the club can sustain itself financially. Remember The Valley and Sparrow Lane still belong to Roland Duchatelet.

Although according to Southall the Syrian has “yet to satisfy the EFL in respect of the source of his funds, despite numerous requests made by the EFL and a number of deadlines that have been ignored by him.” Also that “to date, not a single penny of the promised funds has been provided.”

Southall also throws Bowyer’s new contract into the mix of the war of words, even though it was long stated As a joint ESI aim. What a “disadvantageous contract” is I don’t know.

Who the hell to believe? And all the time the circus that is the EFL watch over us like a blind and death babysitter.

Not mention Roland bloody Duchatelet’s due diligence incompetence. Do we even know if the Belgian got paid? And if so, by whom?

What a mess, which may also explain why Lee Bowyer has looked so anguished these last couple of weeks.

I tell you what. If I hear an Arsenal or Spurs fan tomorrow bemoaning how awful it is being one of their fans, I am going to kick them square in the balls. Be a Charlton fan for a minute. Just a minute!

10 Comments Post a comment
  1. Alan Oakes #

    What I fail to understand is- was the deal consummated or not? How much funds were provided? Whar percentage? How much of the sale did Duchalet get or was he so desperate he took a note. Someone has been bankrolling the company these past months— who? So many questions— it would seem receivership is on horizon unless Southall ( if he is legit) saw writing on the wall ever since the sale and has been out shopping for other partners and not just for a new RR

    March 9, 2020
    • MS has been trying to find other funding. Apparently the club has been self funded as it received a central payment in Jan, Fosu sell on and has seen improved gate receipts.

      March 9, 2020
  2. Whether there has been misuse of funds or this is a get out for Nimer to walk away from potentially part-owning a League One team/not having enough funds for Dinamo and CAFC is yet to be seen.

    I think it’s fair to say the break up looks irreconcilable, let’s hope the legal battle does not drag on forever and the task of finding new investment can begin before we head into administration.

    March 10, 2020
  3. Steve #

    So did Nimer acquire the club for £1 thereby divorcing it/us from the valley/sparrows lane? Facing administration and points deduction, which would likely be -12 at start of L1, can’t imagine a more worrying scenario. Who or why would come in and invest now with the prospect of relegation and no assets. We should be launching a class action against EFL.

    March 10, 2020
    • I find it hard to believe that RD went away quietly with just a pound, and not his debt paid back. Unless his part of the deal was to keep The Valley and Sparrows Lane all along.

      March 10, 2020
  4. Daggs #

    I refer you to my post two days ago…………………………………

    March 10, 2020
    • Sorry Daggs. That post took me back. Happy you are in much better health.

      March 10, 2020
  5. Daggs can you repost it or post a link interested to read it!

    March 10, 2020
  6. Shadow Play #

    I think we have another Slater/Jimenez situation on our hands – two front men who thought that the had promises of funding behind them only to discover that their investor got cold feet. Now MS has a desperate struggle on his hands to find an investor to either bail them out or take control of the entire club. Nothing to worry about apart from a crashing economy, Brexit and coronavirus…

    March 10, 2020
    • David Tyke #

      With a football shutdown very likely at some stage before the end of the season due to coronavirus, it is improbable that someone would step in any time soon. We should prepare ourselves for the worst.

      Who knew Nimer would make Roland look good?

      Is the disappearance of CAFC and development on the Valley site going to be the ultimate end point. Was that the plan all along?

      March 10, 2020

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