Charlton Athletic: New owner Paul Elliott says his is committed despite relegation

Charlton were relegated to League One on Wednesday

Charlton owner Paul Elliott says he is committed to the club despite their relegation from the Championship.

Hammersmith-born Elliott bought East Street Investments, the company which owns Charlton, in June but his takeover is yet to be ratified by the English Football League.

"This club needs stability in ownership and that is what I bring," he said.

"I put money in to keep the club running in May and in June and will continue to do so."

Charlton suffered an immediate return to League One on Wednesday after losing 4-0 at Leeds United in their final game of the campaign.

Lee Bowyer's side failed to win any of their last seven matches of the season, finishing in 22nd place and a point from safety.

There has also been turmoil off the field in recent months, with former owner Tahnoon Nimer embroiled in a row with former executive chairman Matt Southall.

"My commitment to Charlton has not changed because of the relegation," Elliott added in a statement on the club website.

"We are still awaiting EFL approval of the change in control of the club but once that comes through we will be in a position to outline our plans for the club."