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Dubai: Dubai's Zabeel Investments has offered to acquire prestigious English football club Charlton Athletic.
Zabeel had been looking at an opportunity to invest in a leading English football club and had been monitoring the situation at Charlton Athletic closely, the club said on its website on Friday.
The board of Charlton Athletic said the indicative cash offer is subject to a number of preconditions however "it is at a level at which, should the offer be made formally to shareholders, the board would recommend shareholders to accept it."
The statement on the website added that there is, however, no certainty that a formal offer will be made nor as to the terms of any offer.
"The passion of the fans at Charlton, the heritage of the Club and the unique status it enjoys in the community make it an exciting proposition for us," it quoted Mohammad Al Hashimi, executive chairman of Zabeel Investments, as saying.
"We feel now is the right time to make a strategic, long-term investment in Charlton and get CAFC back to the English Premier League where they belong," Al Hashimi said.
The club's board said it will keep the shareholders, fans and employees updated with any further developments.
Zabeel Investments had been linked with a takeover at Newcastle earlier this season after Mike Ashley declared he wanted to sell.
Charlton Athletic play in the Coca-Cola Football League Championship, the highest division of the Football League and second-highest division overall in the English football league system after the Premier League.
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