Dubai-based firm bids for Charlton Athletic

The English Championship football team confirms it has received "an indicative cash offer" to buy the club from Zabeel Investments.

Football - Charlton Athletic v Ipswich Town Coca-Cola Football League Championship  - The Valley - 4/10/08

Nick Bailey (2nd R) celebrates scoring the first goal for Charlton

Mandatory Credit: Action Images / John Marsh

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The English Championship football team Charlton Athletic Football Club has confirmed it has received "an indicative cash offer" to buy the club from Zabeel Investments, a Dubai-based investment company that had previously failed to buy Liverpool FC, for an undisclosed fee. The club confirmed in a statement that it would enter into a period of due diligence with Zabeel Investments. The statement added: "Should the offer be made formally to shareholders, the board would recommend shareholders to accept it. There is, however, no certainty that a formal offer will be made." Zabeel Investments has been looking for an opportunity to invest in an English club for some time. Last year it pulled out of talks to buy Premier League team Liverpool FC, and last month pulled out of talks to buy Newcastle FC when its current owner Mike Ashley was in the emirate trying to sell the club. Charlton were last year the subject of interest from a group of businessmen from the Middle East and Europe, but takeover talks were later called off. Zabeel Investments has major stakes in Sony Corp, plane maker EADS and Las Vegas hotel and entertainment company The Light Group. jbennett@thenational.ae