The whole English football pyramid is insane and should be unsustainable but owners seem to keep financing the losses. Should Charlton achieve promotion next season I doubt the losses will reduce as while income should increase so will players acquisition and employment costs.
Sandgaard lost, by his own admission, £19m running Charlton.
How much he recouped after the sale (said to be £12m), we made find out in 12 months time.
We'll see how much better/worse Global partners have done this time next year.
IMHO it's bad.
Not because we lost money, which is almost inevitable for a club of our size at this level, but because we had no on the field success as a result.
Agreed. Just my view but I think it’s why I think we have seen a change in strategy. I think the money people realised that the existing strategy was 99% doomed to failure. Of course the summer will tell us if I’m correct
Utter madness that the club loses £8m or £9m every year.
Presumably it will be the same for this year.
Totally unstainable in any form of industry except seemingly football.
Next time anyone wants to slag off the owners for any reason they should remember these figures. Because without them (or similar people prepared to lose a small fortune in order to own a football club) there would be no Charlton Athletic.
PS And forgot to mention we need to triple George Dobson's wages to encourage him to stay and spend another £3 million on 3 or 4 quality players to get us out of this league.
Sandgaard lost, by his own admission, £19m running Charlton.
How much he recouped after the sale (said to be £12m), we made find out in 12 months time.
We'll see how much better/worse Global partners have done this time next year.
IMHO it's bad.
Not because we lost money, which is almost inevitable for a club of our size at this level, but because we had no on the field success as a result.
Next years accounts will include 2 x manager pay offs, Kirk’s pay off, what I imagine are quite high wages for N Jones and the players we bought in January from higher divisions. Don’t think they’re going to look very pretty.
Sandgaard lost, by his own admission, £19m running Charlton.
How much he recouped after the sale (said to be £12m), we made find out in 12 months time.
We'll see how much better/worse Global partners have done this time next year.
IMHO it's bad.
Not because we lost money, which is almost inevitable for a club of our size at this level, but because we had no on the field success as a result.
This is where football has lost the plot. £12m for a football club with little to no real asset that loses almost double digit millions a year. What planet are these people on! I could understand to a degree if the property was part of a sale, but it's bordering insanity.
PS And forgot to mention we need to triple George Dobson's wages to encourage him to stay and spend another £3 million on 3 or 4 quality players to get us out of this league.
Lots of examples of clubs hitting the skids and because football is bonkers are saved and relatively speaking in no time are thriving again. Look at Bolton and Derby.
Sandgaard lost, by his own admission, £19m running Charlton.
How much he recouped after the sale (said to be £12m), we made find out in 12 months time.
We'll see how much better/worse Global partners have done this time next year.
IMHO it's bad.
Not because we lost money, which is almost inevitable for a club of our size at this level, but because we had no on the field success as a result.
This is where football has lost the plot. £12m for a football club with little to no real asset that loses almost double digit millions a year. What planet are these people on! I could understand to a degree if the property was part of a sale, but it's bordering insanity.
Perhaps, like the Daily Telegraph, they were advised that anyone with basic competence could reduce Charlton’s operating loss to £1m-£2m.
Although tbh I don’t believe the major shareholders can be that stupid. And even then…
Not the full story because it’s only transfer costs not wages, but confirmation there has been no net transfer spend since the takeover. The accounts weren’t signed off until March 28th, which is why we have this information about the current season.
Sandgaard lost, by his own admission, £19m running Charlton.
How much he recouped after the sale (said to be £12m), we made find out in 12 months time.
We'll see how much better/worse Global partners have done this time next year.
IMHO it's bad.
Not because we lost money, which is almost inevitable for a club of our size at this level, but because we had no on the field success as a result.
Next years accounts will include 2 x manager pay offs, Kirk’s pay off, what I imagine are quite high wages for N Jones and the players we bought in January from higher divisions. Don’t think they’re going to look very pretty.
Add to that the over top SMT plus all the specialists we are now employing on the playing side plus the external company's marketing, analysis etc. Championship style set up in L1 where there has been a failing negative output on the field, the only real driver for more revenue going in reverse .
Sandgaard lost, by his own admission, £19m running Charlton.
How much he recouped after the sale (said to be £12m), we made find out in 12 months time.
We'll see how much better/worse Global partners have done this time next year.
IMHO it's bad.
Not because we lost money, which is almost inevitable for a club of our size at this level, but because we had no on the field success as a result.
This is where football has lost the plot. £12m for a football club with little to no real asset that loses almost double digit millions a year. What planet are these people on! I could understand to a degree if the property was part of a sale, but it's bordering insanity.
Perhaps, like the Daily Telegraph, they were advised that anyone with basic competence could reduce Charlton’s operating loss to £1m-£2m.
Although tbh I don’t believe the major shareholders can be that stupid. And even then…
Agreed that won't have been that stupid. I can only imagine they bought the lie that we'll be out of this division PDQ and then it's challenge to get to the PL.
Instead we flirted with relegation and it's probably dawned on them that this is going to get very expensive!
£843K of transfer receipts since June '23. Who would that be; £300K for CBT and that is about all I can think. Would the rest be "add ons" of previous sales? Maybe we got nominal fees for Deji Elewere and Lavelle?
£630K paid out... So maybe; May £250K. Gillesphy £100k; Ramsey £100k; Taylor a development fee; and some loan fees?
£843K of transfer receipts since June '23. Who would that be; £300K for CBT and that is about all I can think. Would the rest be "add ons" of previous sales? Maybe we got nominal fees for Deji Elewere and Lavelle?
£630K paid out... So maybe; May £250K. Gillesphy £100k; Ramsey £100k; Taylor a development fee; and some loan fees?
On this topic why are transfer fees always ‘undisclosed’ now (seemingly everywhere) yet we understand wages and fees are known within the game and hence why clubs know who they can or cannot negotiate for?
We talk about better governance and bemoan FFP (or whatever it might now be called) and it occurs to me that full transparency on fees might go some way to address this?
Not a like for like comparison but here are Milllwall figures.
Financialy they lost more money than us.
Big difference was that 22/23 was their most successful season "on the grass" in decades, just missinng out on the play-offs which meant bigger gates and so income.
Matchday & 📺 income both ⬆️ but commercial ⬇️ in what is a tough sponsor market. Main costs are player related. Wages £116 for every £100 revenue. Amortisation (transfer fees spread over contract ⬆️ following player purchases in year.
They also have a £20m loan facility with their owners, on which the interest has been waived.
So a suppossedly "well run club" punching well above its weight that season but still making substantial losses, all of which were covered by the owner.
But crucially, for a brief time, they were thinking about premiership football, not mid table in league one.
Comments
Charlton borrowed £8.5m in 22/23 to provide working capital to pay the bills.
Over half of Charlton’s income comes from ticket sales. Payoffs (to manager?) were £148k in the year.
Charlton paying £678k rent in 22/23. Wage bill ⬇️ but still £105 for every £100 of income.
Shocking.
Three options really:
Are our wages far too high?
Is our revenue terrible for a club of our size?
Or, Is everyone losing this amount of money in this league?
How much he recouped after the sale (said to be £12m), we made find out in 12 months time.
We'll see how much better/worse Global partners have done this time next year.
IMHO it's bad.
Not because we lost money, which is almost inevitable for a club of our size at this level, but because we had no on the field success as a result.
There is a constant stream of well meaning fans, egotists, crooks and investors after either a return or a thrill.
Presumably it will be the same for this year.
Totally unstainable in any form of industry except seemingly football.
Next time anyone wants to slag off the owners for any reason they should remember these figures. Because without them (or similar people prepared to lose a small fortune in order to own a football club) there would be no Charlton Athletic.
Just add it to the debt :-)
Charlton losses amounted to twice their revenue, relatively speaking Charlton’s accounts are much more concerning.
https://www.bbc.com/sport/football/68713522
Although tbh I don’t believe the major shareholders can be that stupid. And even then…
Instead we flirted with relegation and it's probably dawned on them that this is going to get very expensive!
Who would that be; £300K for CBT and that is about all I can think. Would the rest be "add ons" of previous sales? Maybe we got nominal fees for Deji Elewere and Lavelle?
£630K paid out...
So maybe; May £250K. Gillesphy £100k; Ramsey £100k; Taylor a development fee; and some loan fees?
We talk about better governance and bemoan FFP (or whatever it might now be called) and it occurs to me that full transparency on fees might go some way to address this?
Financialy they lost more money than us.
Big difference was that 22/23 was their most successful season "on the grass" in decades, just missinng out on the play-offs which meant bigger gates and so income.
Matchday & 📺 income both ⬆️ but commercial ⬇️ in what is a tough sponsor market. Main costs are player related. Wages £116 for every £100 revenue. Amortisation (transfer fees spread over contract ⬆️ following player purchases in year.
So a suppossedly "well run club" punching well above its weight that season but still making substantial losses, all of which were covered by the owner.
But crucially, for a brief time, they were thinking about premiership football, not mid table in league one.