The Dubai investment group Zabeel have pulled out of a deal to buy Championship club Charlton Athletic. After making an indicative offer for the club earlier this month they have decided to withdraw their interest.
A statement from Charlton said:
“Zabeel Investments has informed Charlton that the decision not to proceed was taken on the basis that its focus moving forward will be on domestic opportunities in Dubai that complement the current Zabeel Investments portfolio.
This combined with the current debate around foreign ownership of football clubs and the worsening economic climate in the UK contributed to the decision of Zabeel Investments to pull out.”
Zabeel have been linked with takeovers of other English clubs, including Newcastle and Everton, but this has also been rubbished with Zabeel Investments making the following statement:
“Zabeel Investments has confirmed it has no current intention to acquire any English football club for the foreseeable future.”