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Doesn't sound good
I fear another club following Bury to the wall.
Am I misinterpreting this or did the takeover go through without proof of funds? https://www.efl.com/news/2020/march/efl-statement-charlton-athletic/
That EFL statement appears to indicate that proof of funds is not part of the fit and proper owners test. They passed whatever the fit and proper owners test is, so were allowed to take a majority shareholding in the club in advance of providing proof of funding. The latter has not been forthcoming, so the club are potentially stuffed.
It would seem to be more sensible for the EFL to insist of proof of funding in advance of allowing the majority purchase, but that is not what they seem to be saying happened.
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