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Looks like there is a possibility that they will face expulsion from the EFL because of a lack of funds by the group that owns them. 

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Charlton 'risk expulsion from Football League' as EFL demand details of takeover

 

 
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ES Sport
Troubled times: The takeover saga has sparked fears as to whether The Valley will stage football next season
 
Troubled times: The takeover saga has sparked fears as to whether The Valley will stage football next season ( Getty Images )

Charlton fans fear the club could be expelled from the Football League after the EFL warned their owners to prove the colour of their money or face the consequences.

The future of Charlton was plunged into doubt on Monday night when the EFL announced they still require information from owners East Street Investments [ESI] about their proposed takeover at The Valley.

 

ESI announced a takeover in January but the deal has yet to be ratified by the EFL and the group, now led by Paul Elliott, have not proved they have the money to finance the League One club.

 

The EFL issued Charlton with a stark warning of the “consequences” of those requirements not being met, and there are fears the 115-year old club could be kicked out of the League amid concerns the ownership crisis will not be sorted before the start of next season on September 12.

 
 
 
 
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Last year, a similar situation led to Bury being expelled from the Football League after the EFL ran out of patience with owner Steve Dale when he failed to meet a series of deadlines to prove the club had the funding to make it through the season.

In a statement last night, the EFL said they have written to Charlton to request a meeting and “further information” regarding “ongoing ownership issues”.

 
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Charlton, who were relegated last week, have said they would “be in touch” with EFL this morning “with the aim of getting this process concluded”.

But ESI have had eight months to supply the information needed by the EFL and, the Charlton Athletic Supporters’ Trust [CAST] fear Charlton could suffer the same fate as Bury.

 

CAST are worried of similarities with the Bury situation and say they are “increasingly pessimistic about the likelihood of Charlton being permitted to take part in League One” next season.

ESI bought Charlton for an initial £1 from Roland Duchatelet in January and it was announced in June a consortium put together by lawyer Chris Farnell and led by Manchester-based businessman Elliott had purchased ESI.

 

There is scepticism about why Elliott, whose background is in property and hospitality, got involved in Charlton when football was still shut down and clubs feared going out of business. Farnell was Bury’s lawyer when they were expelled from the EFL, eight months after Dale bought the club for £1.

 
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Going down: Charlton were relegated from the Championship last week (PA)

Elliott says he has injected “considerable” funds into the club which have gone towards both the ongoing running costs and covering the wage bill.

Despite the situation, former Addicks chief executive Peter Varney and former Ritz owner Andrew Barclay remain interested in buying the club.

Varney and Barclay have held talks with Elliot and Farnell but they say ESI have not provided them with documents needed to gain a greater understanding of the situation.

 

Charlton have been under a transfer embargo since January, when the EFL launched an investigation into ESI after directors Tahnoon Nimer and Matt Southall failed to provide them with documents relating to their takeover.

The EFL said last night: “It remains the responsibility of the club and any prospective owner or owners to demonstrate the requirements of the EFL regulations are met. The club is aware of the consequences of not meeting those requirements.”

Charlton said in a statement: “The club expected the change in ownership control to be approved this week and the transfer embargo lifted.

“Throughout the extensive communication with the league, the club has received numerous requests for information from the EFL and provided responses to the league as soon as it has been requested. Getting the change of ownership approved is the top priority of everyone at the club and there is no delay on the part of the club.”

https://www.standard.co.uk/sport/football/charlton-risk-expulsion-football-league-efl-demand-details-takeover-a4510536.html

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Used to like Charlton in the premier league days. Had some good players in the Curbishley era although we always seemed to beat them at Villa Park (bit like Fulham). Horribly run since the moment they got relegated in 2007. Can see Bournemouth going the same way.

So this Matt Southall guy wasn't legit then. They're in an even worse state than under Duchatalet now which takes some doing.

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Fit and Proper Person Test strikes again. 2 Championship clubs in recent weeks. 

I am starting to think the EFL are not Fit and Proper to run this. I think if the government wasnt so busy with other shit they would step into this mess

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