Reveals that Daisy was paid remuneration as CEO. She got no director's fees but my understanding is that directors' earnings need to be disclosed for all service, not just for service as a director. Why nothing in previous accounts?
‘qualifying services’, in relation to any person, means his services as a director of the company, and his services while director of the company—
(a) as director of any of its subsidiary undertakings; or
(b) otherwise in connection with the management of the affairs of the company or any of its subsidiary undertakings;
Think we are entitled to know how much she was nicking from the club under false pretences.
So he has now "sunk" £62M + £18M purchase price = £80M. Roland, never fails. 2 more seasons and he can "hit" £100M and we can throw a congratulations party.
Edit, this was of course at 30/6/18, so he's probably approaching £90M now.
I think the purchase price is included in the £62m
Charlton Athletic Football Club this week filed financial statements for the period ending 30th June 2018 at Companies House.The key points from these accounts have been summarised from the notes below.Key Points- Charlton Athletic made a loss of £10.1m compared to the profit of £1.4m the previous year. The report references this was in-part because the club “did not see a repeat of the level generated on player sales during 2016/17”. Profit on disposal of player registrations amounted to £4m, compared to £16.2m the previous year- Revenue from central income dropped from £1.8m to £1.4m because of a decrease in EFL distributions- Matchday income increased from £3.2m to £3.4m in-part because of the additional revenue from playing in the play-offs- Commercial income rose by £104,000 to £1.345m and was also helped by the club’s run into the play-offsThe report also notes the academy performance for the 2017/18 season continued to be productive:- There were seven Academy debutants in the first team over the course of the season - By the end of the season there were nine Academy graduates in the first team squad of 26- Academy Manager Steve Avory received the 2018 Eamon Dolan Award at the Premier League Youth Development Conference for recognition and service to youth development- The U18s became national champions for the third time in five years and the Under 23s were league runners-up and national semi-finalists- The U13s reached the inaugural national competition at that age group before narrowly losing to Liverpool in the final The full accounts are available to read here. https://www.cafc.co.uk/news/view/5c9e05cca6635/charlton-athletic-accounts-filed-for-year-ending-june-2018
£7.5m income and 17m operating costs so a £10m operating loss This is offset by £4m in income from player sales. So owning Charlton has cost him about £6m in that year.
We probably all agree that we are being run on a shoestring and further investment is needed in the squad and facilities.
I think his ego need bruising and a concerted effort to embarrass him both here and in Belgium is our only hope. How much would some billboard posters cost ? We have the talent to make them humorous and pointed.
This has been considered but the problem is not necessarily the cost, but finding a billboard company prepared to run ads that criticise or might irritate RD
So to be able to run a football club, particularly in London and not notice the losses you have to be a billionaire, those Aussies never stood a chance. I suspect it is these figures that have put buyers off.
I think his ego need bruising and a concerted effort to embarrass him both here and in Belgium is our only hope. How much would some billboard posters cost ? We have the talent to make them humorous and pointed.
Edit: sorry already answered above.
This has been looked into in the past and my understanding is if he is mentioned in anyway whatsoever the poster site companies in Belgium won't accept the poster and even if you don't mention him directly (which is pretty difficult!!) they were not keen to run them. Same for newspapers.
I think his ego need bruising and a concerted effort to embarrass him both here and in Belgium is our only hope. How much would some billboard posters cost ? We have the talent to make them humorous and pointed.
This has been considered but the problem is not necessarily the cost, but finding a billboard company prepared to run ads that criticise or might irritate RD
I think his ego need bruising and a concerted effort to embarrass him both here and in Belgium is our only hope. How much would some billboard posters cost ? We have the talent to make them humorous and pointed.
This has been considered but the problem is not necessarily the cost, but finding a billboard company prepared to run ads that criticise or might irritate RD
I assume a possible solution to this - although probably at prohibitive cost - would be a mobile billboard (like the ones accompanying the start of Farage's Brexit march) hired from a company based outside Belgium.
Reveals that Daisy was paid remuneration as CEO. She got no director's fees but my understanding is that directors' earnings need to be disclosed for all service, not just for service as a director. Why nothing in previous accounts?
‘qualifying services’, in relation to any person, means his services as a director of the company, and his services while director of the company—
(a) as director of any of its subsidiary undertakings; or
(b) otherwise in connection with the management of the affairs of the company or any of its subsidiary undertakings;
Think we are entitled to know how much she was nicking from the club under false pretences.
It was the same in last year's accounts. Reasonably informed opinion (including mine) on here was that there's no basis for not disclosing this figure.
I've only briefly scanned these accounts so far, but I've spotted a number of shoddy errors aleady. Tempted to mark them up and return them to the mickey mouse audit firm to let them know how shit they are.
So he has now "sunk" £62M + £18M purchase price = £80M. Roland, never fails. 2 more seasons and he can "hit" £100M and we can throw a congratulations party.
Edit, this was of course at 30/6/18, so he's probably approaching £90M now.
No - the debt includes the purchase price, which was left on the books in 2014 and accrues interest.
£7.5m income and 17m operating costs so a £10m operating loss This is offset by £4m in income from player sales. So owning Charlton has cost him about £6m in that year.
We probably all agree that we are being run on a shoestring and further investment is needed in the squad and facilities.
Why would anyone want to buy a football club!
No the operating loss is £13.1m - about £1.5m of this is amortisation, which is real money already spent on buying players and £1.5m is depreciation, which is not.)
I think his ego need bruising and a concerted effort to embarrass him both here and in Belgium is our only hope. How much would some billboard posters cost ? We have the talent to make them humorous and pointed.
This has been considered but the problem is not necessarily the cost, but finding a billboard company prepared to run ads that criticise or might irritate RD
I assume a possible solution to this - although probably at prohibitive cost - would be a mobile billboard (like the ones accompanying the start of Farage's Brexit march) hired from a company based outside Belgium.
Interesting to compare the club pre and post Duchatelet at the same League 1 level by looking back to the 2012 accounts 7 years ago
then the club employed 55 full time admin, commercial and stadium maintenance staff. That’s now 46.
the club then employed 367 temporary Matchday staff. That’s now 98.
yet the full time playing, training and football management staff has increased from 73 to 102. I’m guessing that’s academy expansion??
The club staff figures are a bit misleading - for example retail was outsourced in 2012/13 and catering in 2014/15, from recollection. The people employed by contractors don’t get counted. On matchdays the outsourcing of stewarding is another factor.
I agree re the academy. Remember he gets a chunky grant towards that.
£1.0m received in player sales since 30/06/18 to date, which includes Konsa and Grant. Seems we didn't receive anywhere near the quotes figures in the press.
So to be able to run a football club, particularly in London and not notice the losses you have to be a billionaire, those Aussies never stood a chance. I suspect it is these figures that have put buyers off.
The finances of football don't add up unless you're a small club and run it on a shoestring
Suppose we get new owners in the summer and are still in L1. Yes revenue will go up a bit as boycotters return, and we will lose a few of the high earners from the payroll, but the club will still be losing significant sums
So KM may have got redundancy of approx £350k? Maybe that's why the CEO position hasn't been filled? You can't make a position redundant and then recruit it.
I notice we have contingent fees payable of £1.93m, i.e. amounts potentially due to other clubs or agents dependent on appearance, international caps etc
That's a surprisingly high number, and rose from £1.15m in the previous year, so presumably must relate to players who joined in 2017/18. Clarke and Fosu were the main signings which weren't free transfers in that period
So the debt to the parent company has increased c. £4m. Is this just the interest, or has more money been loaned to the club this year? If so, where is this reflected in the accounts? (Probably missing something obvious, apologies)
Charlton Athletic Holdings accounts are now available at Cos House. No increased valuation of investment property (land at The Valley and Sparrows La) this time, still at £11.7m. Nothing much to comment on other than that. Though I note from Co's House that KM has been appointed as a director once and yet resigned twice. What on earth happened there?
Comments
‘qualifying services’, in relation to any person, means his services as a director of the company, and his services while director of the company—
Think we are entitled to know how much she was nicking from the club under false pretences.
https://www.cafc.co.uk/news/view/5c9e05cca6635/charlton-athletic-accounts-filed-for-year-ending-june-2018
This is offset by £4m in income from player sales.
So owning Charlton has cost him about £6m in that year.
We probably all agree that we are being run on a shoestring and further investment is needed in the squad and facilities.
Why would anyone want to buy a football club!
This has been looked into in the past and my understanding is if he is mentioned in anyway whatsoever the poster site companies in Belgium won't accept the poster and even if you don't mention him directly (which is pretty difficult!!) they were not keen to run them. Same for newspapers.
I assume a possible solution to this - although probably at prohibitive cost - would be a mobile billboard (like the ones accompanying the start of Farage's Brexit march) hired from a company based outside Belgium.
then the club employed 55 full time admin, commercial and stadium maintenance staff. That’s now 46.
the club then employed 367 temporary Matchday staff. That’s now 98.
yet the full time playing, training and football management staff has increased from 73 to 102. I’m guessing that’s academy expansion??
I agree re the academy. Remember he gets a chunky grant towards that.
Ha! You finally made a mistake!
;-)
Suppose we get new owners in the summer and are still in L1. Yes revenue will go up a bit as boycotters return, and we will lose a few of the high earners from the payroll, but the club will still be losing significant sums
That's a surprisingly high number, and rose from £1.15m in the previous year, so presumably must relate to players who joined in 2017/18. Clarke and Fosu were the main signings which weren't free transfers in that period
Which he can't