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Huw Jenkins to launch takeover bid for crisis club Charlton Athletic

Story from Wales Online (via the Sun)...

Former Swansea City chairman Huw Jenkins is reportedly preparing to launch a takeover bid for Charlton Athletic.

Jenkins was Swans chairman for a largely successful 17 years before handing in his resignation in February 2019 owing to increasing pressure over selling the club to American investors.

But, according to The Sun, he is ready to get back in the game, with a deal to take over Charlton said to just be a matter of days away from completion.

It is claimed Jenkins will take over at The Valley this week once the EFL approve the deal, which is thought to be a formality.

East Street Investments (ESI) in January took over the Championship club from controversial former owner Roland Duchatelet, however their reign has been nothing short of disastrous.

Both Tahnoon Nimer and Matt Southall own shares in ESI, but the pair fell out after purchasing the club, with Nimer subsequently removing Southall, a former agent, from his role as executive chairman. Southall, however, retained his position as a minority shareholder of ESI.

But that in-fighting now looks to be coming to an end, with Charlton on Friday having announced they had received notice of a change in ownership. They couldn't divulge further details owing to 'legal reasons', they said.

It looks, however, as though former Swansea chief Jenkins will now lead the takeover.

The Sun report that Jenkins has stepped in right in the nick of time, with the Addicks running dangerously low on funds and needing money before wages are due to be paid at the end of this month.

It is reported that, as part of the deal, Jenkins will also inherit the land from previous owner Duchatelet at a later date.

Jenkins' time at the helm in SA1 saw him steer the Swans to the top flight as well as claiming the League Cup in 2013.

Before ESI took control of the Addicks, Cardiff City chairman Mehmet Dalman was in advanced talks over a proposed takeover.

However that ended after complications arose over completing the deal.


Wonder how this will pan out.
Badly I hope.


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Comments

  • That's harsh, Natterjack. Charlton Athletic are an older club than the Swans with a bigger fan base and a more illustrious history. They also have genuinely nice fans and a welcoming ground, unlike their nearest neighbours. It's a shame to see what's happened to them off the pitch and I wish them well for the future, whoever their next chair is.
    Jackareme
  • Won't happen, he's not that dull, I'm sure he does want to get back into football he doesn't have the kind of money to fix Charlton.
  • Charlton already have a good academy, a good manager in bowyer. Just yeah the finances need fixing. After Douchatalet, and now Nimer/Southall they need stability more than anything
  • My understanding is that he would be heading a consortium. It will be interesting to see who this group are. There is certainly huge potential at Charlton and one view is that for all his faults Duchalet didnt leave them in a totally  unhealthy financial position. What the last incumbents did is another question.

    There are certain parallels between Charlton and the Swans in that both punched above their weight in getting to the Premier League, both were seen as model clubs in the way that they were run and both ultimately succumbed to the pressures of keeping to that model in a league where the inflationary cycle seems to grow year by year. I only hope that we dont end up following Charlton's trajectory over the last ten years.

    As one of the teams I watch regularly if I cant get to see the Swans I hope that whoever takes over takes them forward. 
  • Local businessmen were always going to struggle to run Swansea on a shoestring budget in the top flight, that's why the previous owners were prepared to sell as early as 2012, they looked around for a buyer until eventually selling in 2016, but had originally found one in 2014 which we all know about, Moores and Noell.
    Would they have been better for the club?
  • Cadleigh said:
    That's harsh, Natterjack. Charlton Athletic are an older club than the Swans with a bigger fan base and a more illustrious history. They also have genuinely nice fans and a welcoming ground, unlike their nearest neighbours. It's a shame to see what's happened to them off the pitch and I wish them well for the future, whoever their next chair is.
    My comment was aimed at Jenkins, of course, not Charlton Athletic.
    I have nothing against any other club, well, maybe Ca.......
    Cadleigh
  • Why NJ, the guy sold his shares, the operative word being HIS
  • Jacktar said:
    Why NJ, the guy sold his shares, the operative word being HIS
    I know they were his shares and I don't begrudge him that.
    Let's just say that he's not anywhere near the middle, let alone top, of my nice guy list.

  • Jacktar said:
    Why NJ, the guy sold his shares, the operative word being HIS
    But he did a lot more than just sell "HIS" shares. 
    He spearheaded/facilitated/drove/headed up/co-ordinated the sale of 67% of the club's shares and allegedly 75% of voting rights - the sale would not have happened had it not been for him. 
  • Jacktar said:
    Why NJ, the guy sold his shares, the operative word being HIS
    But he did a lot more than just sell "HIS" shares. 
    He spearheaded/facilitated/drove/headed up/co-ordinated the sale of 67% of the club's shares and allegedly 75% of voting rights - the sale would not have happened had it not been for him. 
    Yes, Jeff, but it was on the cards from the moment we entered the Premier League, the sellers actually got a sale in 2014 only for it to fall through at the 11th hour. There's no doubt they should have handled the 2016 sale better but we all knew it was going to happen at some point. We have disliked the current owners since they became involved but that's par for the course in football, in fact, our owners are not better or no worse than any owner with few exceptions (Man City/Chelsea). They are not saddling us with debt which can only be a good thing, long term and whilst they have put little in, they have taken nothing out.
  • Also a mention  Jacktar to Liverpool owners the Fenway Group who have built a new stand and invested in their team unlike the Glazers  at Man Utd who constantly  just take money out .
  • Jacktar said:
    Jacktar said:
    Why NJ, the guy sold his shares, the operative word being HIS
    But he did a lot more than just sell "HIS" shares. 
    He spearheaded/facilitated/drove/headed up/co-ordinated the sale of 67% of the club's shares and allegedly 75% of voting rights - the sale would not have happened had it not been for him. 
    Yes, Jeff, but it was on the cards from the moment we entered the Premier League, the sellers actually got a sale in 2014 only for it to fall through at the 11th hour. There's no doubt they should have handled the 2016 sale better but we all knew it was going to happen at some point. We have disliked the current owners since they became involved but that's par for the course in football, in fact, our owners are not better or no worse than any owner with few exceptions (Man City/Chelsea). They are not saddling us with debt which can only be a good thing, long term and whilst they have put little in, they have taken nothing out.
    https://www.walesonline.co.uk/sport/football/football-news/swansea-city-investment-john-jay-8023512

    https://www.liverpoolecho.co.uk/sport/football/football-news/everton-takeover-latest-blues-deal-10858867

    Both deals failed to take off. I wonder why.
  • Malc said:
    Also a mention  Jacktar to Liverpool owners the Fenway Group who have built a new stand and invested in their team unlike the Glazers  at Man Utd who constantly  just take money out .
    Totally agree but remember the angst when the Fenway Group wanted to charge £77 a ticket a few years ago. 
  • Jacktar said:
    Jacktar said:
    Why NJ, the guy sold his shares, the operative word being HIS
    But he did a lot more than just sell "HIS" shares. 
    He spearheaded/facilitated/drove/headed up/co-ordinated the sale of 67% of the club's shares and allegedly 75% of voting rights - the sale would not have happened had it not been for him. 
    Yes, Jeff, but it was on the cards from the moment we entered the Premier League, the sellers actually got a sale in 2014 only for it to fall through at the 11th hour. There's no doubt they should have handled the 2016 sale better but we all knew it was going to happen at some point. We have disliked the current owners since they became involved but that's par for the course in football, in fact, our owners are not better or no worse than any owner with few exceptions (Man City/Chelsea). They are not saddling us with debt which can only be a good thing, long term and whilst they have put little in, they have taken nothing out.
    https://www.walesonline.co.uk/sport/football/football-news/swansea-city-investment-john-jay-8023512

    https://www.liverpoolecho.co.uk/sport/football/football-news/everton-takeover-latest-blues-deal-10858867

    Both deals failed to take off. I wonder why.
    Who knows why but I can see what you are alluding too Colin, and maybe you are right? I think with us, the deal was close, it was the uneasiness of the Trust that put them off.
    The point is, these guys were billionaires, which that wouldn't have made much difference, fans would have called for more investment, the PL/EPL would have said no. Live within your means is the only way to run football clubs however hard that medicine is. I just wish the leagues would get serious with the offenders, Brum had 9 points deducted, I'm told Derby and Sheff Wed are next, the Villains look like they have got away with it.

  • Could the reason be Swansea City are a small club in relation to the size of the ground and income they could generate  ,

    If you were looking to buy a club , there are many clubs where with the right investment  you make money in future years 
  • Malc said:
    Could the reason be Swansea City are a small club in relation to the size of the ground and income they could generate  ,

    If you were looking to buy a club , there are many clubs where with the right investment  you make money in future years 
    There is something in that Malc, I felt there was a little bit left in the tank for Jenkins and co before they sold up but once they had made up their minds, nothing was going to stop them selling, no doubt, they could have handled the eventual sale better.

  • Heard a whisper Leon moving on to do other projects?
    Jackareme
  • Huw will get into football at some point but Charlton wasn't the club for him.
    He is looking at Yeovil, a non league club that he can build.
  • He obviously can't keep away from the game,all the more surprising to me that he did  what he did.Albeit that the other investors wanted to cash in, he burned all his bridges and now looks to risk his nest egg with other Clubs??
  • I sometimes think we are disingenuous as Swans fans towards Huw Jenkins, he put his money where his mouth was in 2002, Swansea City was a basket case of a club and it would have been easier to wait for someone else to pick up the reins (if anyone else was foolish enough). He had one path and stuck to it no matter how choppy that path got, he was what some like to call the Director of Football from 2002, in reality, he was the guy that signed the cheques but more importantly, got the right deal for Swansea City in the seedy world of agents. There's a big gap between a manager or scout wanting a certain player and that player actually turning out for Swansea City.
    He also saw the vision in our academy, we should reap the benefits of that vision for years to come.
    We finally got a training ground that we call home. As we all know, we've had to beg, steal or borrow places to train at throughout the first 100 years of our existence, that should not happen any more.
    Also, the football we have played from 2008 has been a joy to watch, without Huw Jenkins' belief in a manager and steadfastly sticking to a path, that would not have happened.
    We are still playing better football than most in our league, albeit needing to get streetwise but any kid coming through only knows one way, the Swansea Way, that, again is down to Huw Jenkins.
    The point is, he will go somewhere, probably lower than Charlton, Yeovil is my guess and prove that his vision was not a fluke (or not as the case may be).
  • jollyboy said:
    I sometimes think we are disingenuous as Swans fans towards Huw Jenkins, he put his money where his mouth was in 2002, Swansea City was a basket case of a club and it would have been easier to wait for someone else to pick up the reins (if anyone else was foolish enough). He had one path and stuck to it no matter how choppy that path got, he was what some like to call the Director of Football from 2002, in reality, he was the guy that signed the cheques but more importantly, got the right deal for Swansea City in the seedy world of agents. There's a big gap between a manager or scout wanting a certain player and that player actually turning out for Swansea City.
    He also saw the vision in our academy, we should reap the benefits of that vision for years to come.
    We finally got a training ground that we call home. As we all know, we've had to beg, steal or borrow places to train at throughout the first 100 years of our existence, that should not happen any more.
    Also, the football we have played from 2008 has been a joy to watch, without Huw Jenkins' belief in a manager and steadfastly sticking to a path, that would not have happened.
    We are still playing better football than most in our league, albeit needing to get streetwise but any kid coming through only knows one way, the Swansea Way, that, again is down to Huw Jenkins.
    The point is, he will go somewhere, probably lower than Charlton, Yeovil is my guess and prove that his vision was not a fluke (or not as the case may be).

    This is an interesting time to be bigging up HJ - is something in the offing?

    HJ has also recently been highlighting his own achievements in the press :
    https://www.walesonline.co.uk/sport/football/football-news/huw-jenkins-interview-swansea-city-18314954

    So now, with his Charlton purchase having fallen through, I wonder if he'll come in for the Swans. It has been the subject of rumour over the last couple of years. It was reported a few months ago that the Americans were interested in selling and the virus impact will make the asking price probably the lowest it's been for 15 years. And his interest in Charlton shows that he has funds available to make such deals.

    Also, the Trust have recently been in mediation talks with at least 2 of the sellers so I wonder if, in parallel, he's come up with some sort of proposed deal with the Trust Board that will be put to the vote?

    Probably all complete bollocks of course - I'm good at that :)
    enaitchJackareme
  • jollyboy said:
    I sometimes think we are disingenuous as Swans fans towards Huw Jenkins, he put his money where his mouth was in 2002, Swansea City was a basket case of a club and it would have been easier to wait for someone else to pick up the reins (if anyone else was foolish enough). He had one path and stuck to it no matter how choppy that path got, he was what some like to call the Director of Football from 2002, in reality, he was the guy that signed the cheques but more importantly, got the right deal for Swansea City in the seedy world of agents. There's a big gap between a manager or scout wanting a certain player and that player actually turning out for Swansea City.
    He also saw the vision in our academy, we should reap the benefits of that vision for years to come.
    We finally got a training ground that we call home. As we all know, we've had to beg, steal or borrow places to train at throughout the first 100 years of our existence, that should not happen any more.
    Also, the football we have played from 2008 has been a joy to watch, without Huw Jenkins' belief in a manager and steadfastly sticking to a path, that would not have happened.
    We are still playing better football than most in our league, albeit needing to get streetwise but any kid coming through only knows one way, the Swansea Way, that, again is down to Huw Jenkins.
    The point is, he will go somewhere, probably lower than Charlton, Yeovil is my guess and prove that his vision was not a fluke (or not as the case may be).

    This is an interesting time to be bigging up HJ - is something in the offing?

    HJ has also recently been highlighting his own achievements in the press :
    https://www.walesonline.co.uk/sport/football/football-news/huw-jenkins-interview-swansea-city-18314954

    So now, with his Charlton purchase having fallen through, I wonder if he'll come in for the Swans. It has been the subject of rumour over the last couple of years. It was reported a few months ago that the Americans were interested in selling and the virus impact will make the asking price probably the lowest it's been for 15 years. And his interest in Charlton shows that he has funds available to make such deals.

    Also, the Trust have recently been in mediation talks with at least 2 of the sellers so I wonder if, in parallel, he's come up with some sort of proposed deal with the Trust Board that will be put to the vote?

    Probably all complete bollocks of course - I'm good at that :)
    I can't see Huw Jenkins ever coming back here, two reasons, 1, Fans won't let him, 2, He doesn't have enough cash. He might have the money for a non league club and its why I suggest Yeovil.
    As for bigging up, I'm not sure I've done that, he made mistakes but he does deserve some credit, look at the club he took on and the one he left, most of us would have been happy to get to the Championship in 2010 and settled, he took us one step further and against all odds, kept us there. We won our first major trophy under his stewardship and he had the vision to see the academy project through, he built training facilities that any club would be proud to call home, now if you were a Yeovil fan, would you take some of that?
    I think my main point is, its 4 years since the sale, time to move on, with the virus, our club, like many clubs are in serious danger, in-fighting won't help.
    moorlands
  • @jollyboy - remember he didn't have the cash the first time around. He was a bankrupt businessman who became the front man for a consortium of investors with significantly more liquidity than him. For sure I could see history repeating itself.
    Depending on the credentials of the consortium and a promise to refocus on the basics, I would be open to a sale. Huw was just fine when he kept his beak out of footballing matters and just acted as a chairman. It was when the ego took over that the problems started.
    With the right checks and balances it might have more chance to move our club forward than with the Americans.
  • No he didn’t have the cash first time round and he never was there at the start of the takeover . He joined a few months later and had Martin Morgan as his guarantor . And he alone didn’t get the club to where they got to alone ... there was a few of them steering the ship  :D
    Jackareme
  • enaitch said:
    No he didn’t have the cash first time round and he never was there at the start of the takeover . He joined a few months later and had Martin Morgan as his guarantor . And he alone didn’t get the club to where they got to alone ... there was a few of them steering the ship  :D
    And you know this because your mothers sisters brother-in-laws son once worked as a temp for Martin Morgan? or because so many repeat the story, it must be true?

    You're right, HJ was not at the first two meetings, George Edwards (EP editor), Richard Keen (insurance) and half of the old Swansea mafia were but soon pulled out once £50k was mentioned. This was a massive risk at the time, the club was loosing money hand over fist money, the debt was mounting and I don't think fans realised how close we came to not having a football club to support.

    So what if HJ borrowed his stake, he would still have to pay it back, with interest (and that's if he did borrow it)?
    enaitch
  • jollyboy said:
    enaitch said:
    No he didn’t have the cash first time round and he never was there at the start of the takeover . He joined a few months later and had Martin Morgan as his guarantor . And he alone didn’t get the club to where they got to alone ... there was a few of them steering the ship  :D
    And you know this because your mothers sisters brother-in-laws son once worked as a temp for Martin Morgan? or because so many repeat the story, it must be true?

    You're right, HJ was not at the first two meetings, George Edwards (EP editor), Richard Keen (insurance) and half of the old Swansea mafia were but soon pulled out once £50k was mentioned. This was a massive risk at the time, the club was loosing money hand over fist money, the debt was mounting and I don't think fans realised how close we came to not having a football club to support.

    So what if HJ borrowed his stake, he would still have to pay it back, with interest (and that's if he did borrow it)?
    And you can prove that HJ put £50k in straight away. And, who were half of the old Swansea mafia that you quoted
  • Swansea Mafia - amazing how a slur from the 70's still exists. Always makes me laugh. In any other city, they would simply be business people or entrepreneurs.
  • It was one of the original members of the first group or one of the “”Swansea mafia “” as you say that told me the story and it was more in the region of £150 k was asked to put in and as you say was too risky . But he regrets it now . It must be true about Jenkins as you agreed he wasn’t one of the original group 
  • I doubt that the individuals in that group of business people felt it was a slur to be called that, either at the time of the rescue or before.
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