The governing body of a charter school may submit to the sponsor of the charter school a written request for an amendment of the charter contract. The sponsor of the charter school shall consider the academic, financial and organizational performance of any charter schools that currently hold a contract with the current or proposed operators, including, without limitation, a charter management organization or educational management organization, of the charter school. If the proposed amendment complies with the provisions of this chapter and any other statute or regulation applicable to charter schools, the sponsor and the governing body of the charter school may amend the charter contract in accordance with the proposed amendment. If the sponsor denies the request for an amendment, the sponsor shall provide written notice to the governing body of the charter school setting forth the reasons for the denial.