- guardian.co.uk, Friday October 10 2008 17.55 BST
Middle East investors have reportedly been attracted to the bright lights of Charlton Athletic. Photograph: Tony O'Brien/Empics
Charlton Athletic have confirmed an "an indicative cash offer" for the club from the Dubai-based Zabeel Investments, a group who have previously been linked with a takeover of Newcastle United.
Earlier today some news sources were reporting that a deal has already been done with the Middle Eastern group, but those stories appear to have been a somewhat premature.
"Should the offer be made formally to shareholders, the board would recommend shareholders to accept it," said the club in a statement. "There is, however, no certainty that a formal offer will be made."
Charlton, who dropped out of the Premier League in 2007, were forced to sell several player over the summer, with Chris Iwelumo, Marcus Bent, Madjid Bougherra and Amdy Faye all leaving the club.
