Waggott: Gamble was worth a risk
21 January 2009
CHARLTON chief executive Steve Waggott has told the Times he never envisaged the Addicks would struggle so much in their second season outside of the top flight.
The SE7 club find themselves rock bottom of the Championship, trailing Watford - who sit one place above the relegation places - by a daunting eight points.
And Waggott acknowledges that relegation-threatened Charlton, who also announced a £11.5m loss earlier this month, are struggling because of a failed attempt to return to the Premiership at the first time of asking last term.
"It was a bit surprising to
be in the Championship," he said. "There were two ways we could go; either we did what was required to try and get back into the Premier League, or we be realistic and slightly more conservative.
"We decided that - after seven years in the Premier League - we wanted to get straight back, so we went out and invested what we thought was needed.
"We finished 11th but, if it had worked, it would have been a decision that was well worth taking."
Despite the precariousness of the Floyd Road outfit's current plight, Waggott refuses to give up hope on the current campaign.
Nonetheless, with the gap to safety seemingly widening with every passing week, Waggott concedes that many supporters, who have not seen their side win a league game since early October, are not so optimistic.
"I think we were expecting to finish at least 10th, if not higher," he added.
"But now, if we stay up in the Championship, it will feel as though we have had a promotion season.
"Everyone from afar is always saying: 'How are you down there?'
"However, there are 54 points left to be won and football is one of those games where you have to remain positive. Until we are mathematically down, we have to believe we can escape.
"But, there is no doubt that we are in for a basement battle."
Charlton's dip in form came around the same time a potential takeover by Dubai-based company Zabeel Investments fell through.
Their parachute payments - the additional income clubs receive from the Premier League for two years after relegation - will come to an end this May, putting even further strain on a team with waning top-tier ambitions.
Waggott, though, says they remain a more than attractive proposition to prospective buyers.
"We are free from the Premier League and any investor would be buying potential," he said.
"But, it doesn't appear to be the case that a local millionaire can run things because you need huge resources to even come close to the top.
"We did have a Premier League set-up...we still have, but the income just does not match the plan.
"We are not going to get anywhere near promotion and, if the worst does happen, we have to make sure the club is in a position to bounce back."
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Comments
Watch out for icebergs and torpedoes ......
;o)
I couldn't find them anywhere after Sheff Weds.
;o)