Sunderland AFC news: Charlie Methven's £10.5m Charlton bid rejected by Thomas Sandgaard

Methven is leading a group currently consisting of Californian-based investors – including Joshua Friedman. The outfit initially tried to buy the League One club six months ago but failed.

Another formal offer was received on Thursday with Friedman and Methven said to have submitted a new and improved £10.5m offer to buy Charlton, which has once again been rejected.

Charlton owner Thomas Sandgaard signed an exclusivity agreement with a rival American bid led by Marc Spiegel but that takeover is also now on the verge of falling through at the last minute.

That has left Charlton Athletc’s future very much up in the air with Methven and Friedman swooping to submit another bid.

Methven was a highly controversial figure during his time with Sunderland alongside fellow co-owner Stewart Donald, who remains a minority shareholder at the Black Cats.

Methven, however, now has no shareholdings or involvement at the Wearside club.