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Charlton in financial black hole

A grim financial picture at Charlton is revealed by the club's latest accounts as analysed by football finance guru Kieran Maguire.   I will review them myself given a few days.

Charlton have now submitted their 22/23 accounts.  Revenue at £9.8m no change.   Wages £10.3m up 8%.    Operating loss for year was £9.9m up 2%.  Player purchases £113k.   Player sales £565k. Club was sold after end of season

Charlton are losing about £190k a week as no money left after paying wages for the day to day costs of the club.

Charlton total losses from all the seasons it has been in existence now exceed £57 million. No cash at end of 22/23 in the bank.  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 (to Roland). Wage bill down but still £105 for every £100 of income.

Charlton squad by end of season cost £2.4m. Player write downs were over £100k.

Loans from owner in year took total Charlton borrowings to nearly £28m.  Charlton could still have to pay money to Roland’ DuShatalay’ if promoted to Premier League.

Old owner of Charlton controlled club via a company in that bastion of transparency, the Cayman Islands.

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