EFL statement confirms Charlton Athletic have failed to provide proof of funding needed to run the club
(Photo by Alex Pantling/Getty Images)

The EFL have released a statement regarding the funding of Charlton Athletic.

On Monday 9th March, majority shareholder Tahnoon Nimer posted a series of comments on his Instagram account about why he was withdrawing his investment in Charlton.

Nimer soon deleted his posts, which were seen as bizarre amongst Charlton supporters, before chairman Matt Southall released a club statement:

"Following the events of 9 March, his position is now untenable and the board has no option but to accept his resignation.

"The board of Charlton Athletic and the senior management team will continue to run the club with its best long-term interests at heart."

Since then, Nimer has claimed that he will continue as director, but will suspend his financial backing until Southall is replaced.

EFL statement

On Tuesday, the EFL released a statement on the current situation at The Valley and the future of the struggling Sky Bet Championship club, which said:

"The EFL notes the concerning developments, including a number of unhelpful media comments, emanating from Charlton Athletic over the past 24 hours.

“The league has been working closely with the relevant parties since an initial application for a change of control was made.

“The relevant parties were notified in January that they were eligible under the provisions of the owners’ and directors’ test in accordance with EFL regulations."

The statement confirmed that the club have been placed under a registration embargo after failing to provide the proof of funding needed to run the club until June 2021:

“In parallel, the EFL had also made clear the requirements in respect to the source and sufficiency of funding necessary to fund the club until June 2021. Those matters remain outstanding.

“As a result of not receiving the required information the club was placed under a registration embargo and that position remains as the EFL seeks assurances that the necessary funds are available and for that funding to be placed in the club."

There could yet be further action taken on the club from the EFL, the statement continued:

“The EFL’s position has been reserved and it is considering with its external advisors what further action should be taken under its regulations. The EFL will make no further comment at this time.”

On the pitch, Lee Bowyer's side are sitting in 22nd position in the Championship after three straight defeats, two of those coming against fellow strugglers Middlesbrough and Huddersfield Town.

The South-East London club travel to Hull City on Saturday, another club desperately fighting for their lives to avoid relegation to League One.

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