The EFL announced on Friday that three people wanting to own Charlton Athletic had failed to satisfy their source and sustainability of funds criteria‎.

Paul Elliott and Chris Farnell are two of them, the third is presumably their Middle East backer. The club issued. The following brief statement:

The club has filed appeals on behalf of two individuals against a decision from the EFL Board to decline to approve their Owners’ and Directors’ Test applications.

‎The individuals failed to win approval as they had a “Disqualifying Condition”. 

Elliott and Farnell launched immediate appeals, but unless they can reverse the “Disqualifying Condition” – whatever that is – there seems no grounds for the EFL to change their decision.

But until the result of the appeal is announced, the club is in limbo. The immediate effect is  that the signings of Alex Gilbey and Conor Washington will  have to be put on ice.

The decision appears to clear the way for the Peter Varney/Alex Barclay consortium to take over.

But the sticking point will be Roland Duchatelet’s valuation of The Valley and Sparrows Lane. Varney’s group want to buy the club and it’s property, but will not meet Duchatelet’s asking price of £50,000,000.

Meanwhile, the uncertainty puts a major spanner in the ‎works of recruitment, which will effectively have to be put on hold. 

These are worrying times for Addicks fans.

‎Elsewhere, academy product, Morgan Fox, turned down an extended contract at Hillsborough to sign for Stoke City. Strangely, the length of the deal was not revealed.