Zabeel Investments have pulled out of a deal to buy Charlton in a move that will fuel speculation that the Dubai-based group could turn their attentions to Everton.
The Gulf investment group, which had also considered taking over Newcastle, had an offer for Championship club Charlton accepted earlier this month.
But the proposed deal has been scrapped because of concerns over the state of the recession-hit British economy and fears that restrictions on foreign ownership of English teams could be on the agenda, Charlton said in a statement.
"Zabeel Investments has informed Charlton that the decision not to proceed was taken on the basis that its focus moving forward will be on domestic opportunities in Dubai that complement the current Zabeel Investments portfolio," the statement said.
"This combined with the current debate around foreign ownership of football clubs and the worsening economic climate in the UK contributed to the decision of Zabeel Investments to pull out."
The news will disappoint Charlton fans who had been looking forward to the London club's efforts to secure a return to the Premier League being underwritten by Zabeel's deep pockets.
The club has reported debts of 20 million pounds and will suffer a substantial drop in income next season as they are currently in the last year in which they are eligible for special payments designed to help clubs cope with relegation from the top flight.
Charlton dropped down to the Championship and are currently in danger of dropping to the third tier of English football after a midweek defeat left them 20th in their 24-club division.
Reports in the English media have suggested that Zabeel may have turned their attentions to Everton, although that was denied in Charlton's statement.
"Zabeel Investments has made it clear to Charlton that this decision was not made as a result of any discoveries during the due diligence process.
"Contrary to recent press reports, Zabeel Investments has confirmed to Charlton that it has not approached any other club since it made an indicative offer for Charlton Athletic on October 10, nor has it authorised any approach on its behalf.
"In addition, Zabeel Investments has confirmed it has no current intention to acquire any English football club for the foreseeable future."
A spokesman for Zabeel added: "Zabeel Investments has the highest regard for both the supporters of Charlton and the way in which Charlton is managed and wishes the team every success in their quest for promotion this season and moving forward."
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