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Pardew: Loan signings are out after deal collapse

Pardew: "I'm going to take a serious look at the youngsters in this team"
Pardew: "I'm going to take a serious look at the youngsters in this team"

Manager Alan Pardew ruled out loan signings and warned of tough times ahead for Charlton following the collapse of takeover talks with Dubai based Zabeel Investments.

The parties had embarked on a process of due diligence at the offices of Charlton’s solicitors Vertex Law at Kings Hill near Maidstone until Zabeel withdrew on Wednesday evening citing Britain’s unfavourable economic climate.

The news surprised the board of Charlton’s plc, who believed they were within touching distance of sealing a multi-million pound commitment following an indicative cash offer. Supporters who had dreamt of seeing substantial investment in the playing squad were left sorely disappointed.

Since Thursday morning’s news of the collapse, it emerged that former Newcastle United director of football Tony Jiminez had been influential in the talks on behalf of Zabeel.

Pardew, who was at West Ham when a takeover bid from Iranian businessman Kia Joorabchian collapsed before the club was taken over by an Icelandic consortium, admitted: "It’s no great surprise to me because I saw one collapse when I was at West Ham.

"What matters now at Charlton is that we have to regroup, the board, the chief executive and myself and decide where we go from here.

"Are we going to continue to look for buyers or are we going to look inwardly and start focusing on the next two to three years?

"I’ve not been given any indication as to whether there are other interested people out there wanting to buy the club.

"It’s evident that the board are keen to move the club on - but we have to protect ourselves in a most difficult financial climate.

"In my view I’m going to take a serious look at the youngsters in this team because there is no money to bring anyone in on loan.

"That’s now out of the equation and in the January transfer window I can see that the squad will have to be trimmed back still further."

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