Charlton Athletic owner Sandgaard walks away from £17m deal - sources

Sources: Thomas Sandgaard walks away from £17m Charlton Athletic deal

Charlton Athletic owner Thomas Sandgaard walked away from a £17million deal to buy The Valley from Roland Duchatelet, sources have told Football Insider.

Sandgaard bought Charlton from Duchatalet in September 2020, but the Belgian businessman retained control of the 27,000-seater stadium.

Sandgaard is understood to see potential for redevelopment of the Addicks’ home ground, although a source told Football Insider that the proximity of a railway line makes that situation unlikely under any owner.

Sandgaard was recently due to sell the club to SE7 Partners but walked away from the deal at the 11th hour after the Charlie Metheven-led consortium refused to let him retain a 20 per cent stake in the club.

Football Insider revealed last Friday (10 February) that the controversial Danish entrepreneur originally stated that he wanted to keep a 10 per cent stake, but demanded 20 per cent after he had already banked a £1m holding fee.

It is now known that Sandgaard also reneged on a three-year deal to buy the stadium in mid to late January, shortly before it was widely reported that he had all but agreed to sell the club.

The 61-year-old’s motivations for the now-shelved plan to acquire The Valley at a time when regime change looked likely are not known, although it is believed he has first refusal in the event of it being put up for sale.

“Originally, he was going to buy the ground from Duchatalet,” the source told Football Insider.

“It was originally a five-year deal and then it went down to a three-year deal.

“I think he was due to pay £17m to get this deal in mid to late January, but he didn’t pay it. That is beside the point because it isn’t worth that much money.

“He was mad to agree it in the first place. He thinks it’s worth a lot of money because of the potential for redevelopment, but it won’t get planning permission because there’s a railway line in the way. I can’t see them ever doing that.

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