A Round of Gulf

Back in December 2006, I suggested that Petrodollars might save us from relegation. Not surprisingly perhaps, they gave Les Reed's charges a wide berth at the time.

However it seems that 14th place in the Championship today is not enough to deter the most determined bidder, because apparently 'Zabeel Investments' are poised to complete a bid for the club.

The timing of this news is incredible. The world's stock markets have just suffered their worst ever week, yet it seems the Petrodollar-fuelled Arabs can't ignore a great investment when they see one.

The deal is far from complete of course, but this is potentially the greatest development in the chequered history of our club. The possibility that they have got bored by Liverpool's internal wranglings, and looked to SE7 instead, is simply too wonderful an outcome to contemplate.

If the incredible recent volatility in financial markets has taught us anything, it's that there's a world of difference between 'real money', and what I would term, 'funny money'. The likes of West Ham's owners represent 'funny money', cash generated at the peak of the leverage boom, that is now unwinding at incredible speed.

'Real money' today is only present in the Gulf, Russia and to a lesser extent, China. Despite the inevitable cultural shock, the idea that Charlton could be purchased even indirectly by the Al-Maktoum family is surely beyond our wildest dreams. Dare I conclude that we might be the 2nd richest club in the world (after Man City)?

The deal is far from being concluded, so let's not get carried away. Moreover, it is worth pointing out that the wealth of Dubai (compared to Abu Dhabi) is somewhat dubious. They never had much oil to begin with, so the gleaming skyscrapers are a little speculative, but one cannot seriously doubt the Emirate's ambition. For further reference, I discussed the UAE in more detail here.

The obvious question is then, "why Charlton?". Firstly, we're no doubt cheap - our current Board have worked wonders, yet will not be demanding a ridiculous price.

Second, and most importantly we are London-based, and within view of the stunning wealth-generating capability of Canary Wharf (surely some mistake? - Ed). Thirdly, despite a worrying degree of mediocrity on show recently, we have produced consistent 20,000+ crowds in a friendly stadium, a far from trivial consideration in light of Mike Ashley's experience at Newcastle.

One has sensed for some time that the present Board might be willing to sell at the right price, and to the right buyer. The bifurcation of the Premiership, has made apparent the enormous financial sacrifice required to maximise the potential for survival. The Board has always implied it would only sell to a genuine and deep-pocketed bidder. They don't get much more deep-pocketed than this.

Maybe I'm getting ahead of myself, but I was wondering in the pub tonight how Mourinho would utilise Messi, Fabregas and Gerrard to their full potential, particularly if one inevitably had to start on the bench. And more relevantly, what would it mean for Darren Ambrose?