Tuesday, May 15, 2007

General Electric could bid for Addicks

US conglomerate General Electric has emerged as a possible bidder for the Greenwich and Bexley franchise of Charlton Athletic. The company is setting up a unit in its London office as it fears it is being left behind in the football takeover market.

The company's sports advisers have said that they would prefer a big deal, but realise that there are not that many around. Hence, they are looking at relegated Premiership clubs and the top half of the championship. A London franchise would be particularly suitable. However, no club has been specified.

Hermes Sports Partners, as their London unit is called, is also planning to offer options such as commercial rights deals, stadium refinancing and other refinancing packages.

I am now off to Montréal for a few days to give a paper on relations between G-14 and Uefa and discuss other football topics at a conference. I'll be back at the beginning of next week when posts will resume (Paul May is currently on holiday in the Canaries).


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