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Charlton chairman accuses majority shareholder of not providing a ‘single penny’

New Charlton chairman Matt Southall has accused majority shareholder Tahnoon Nimer of not investing “a single penny of the promised funds” since they completed a takeover of the club as the dispute between two key figures on the board escalates.

East Street Investments’ takeover of the Sky Bet Championship side was confirmed on January 2, but just over two months later problems have arisen.

Nimer made a number of accusations against the Addicks chairman on social media before hinting he was pulling out of the south London club, who are backed through his Abu Dhabi-based corporation Panorama Magic General Contracting LLC.

Southall accused his fellow board member of threatening the senior management team with legal action, with a disagreement seemingly over the contract handed to boss Lee Bowyer by the new chairman and an attempt to appoint a new chief executive officer.

“On Monday, Tahnoon Nimer sent an incredibly damaging letter on behalf of Panorama Magic General Contracting LLC to members of the club’s Senior Management Team. In the letter, he made allegations about me and my conduct, which my lawyers immediately rebutted,” a statement from Southall read.

“It is a crucial time of the season and it would seem appropriate that all the stakeholders direct their efforts in support of the team and the club.

“Therefore, it is disappointing that the majority shareholder should act in such a manner and be attempting to purchase Dinamo Bucharest to the point where he posted a picture of himself in Romania during Saturday’s fixture.

“The Board and the Senior Management Team are determined that Charlton Athletic be run in a sensible, responsible and sustainable manner but this is being made very difficult by the majority shareholder’s actions and his failure to provide either the necessary satisfaction to the EFL or the funds that he has consistently promised to invest.

“To date, not a single penny of the promised funds has been provided.

“The Board will continue to make decisions in the best interests of club, its fans, its players and its staff with the full support of the dedicated and loyal senior management team.”