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Club accounts up to 30th June 2023
shirty5
Posts: 19,235
Charlton submit 22/23 accounts: 🔑 figs
Revenue £9.8m (no change)
Wages £10.3m ⬇️ 8%
Operating loss for year £9.9m ⬇️ 2%
Player purchases £113k
Player sales £565k
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Comments
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Charlton losing about £190k a week as no money left after paying wages for the day to day costs of the club.
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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. Wage bill ⬇️ but still £105 for every £100 of income.
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Wages more than revenue. Think what value for money that represents.
Shocking.5 -
Need to have a comparison with the clubs around us.
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?5 -
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.0
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Have you seen Tesla's accounts. Not sure what they are now but early 2020's they were losing hundreds of millions.se9addick said:
Football is insane. Any other business that had both wages and losses that exceed 100% of rev would be done for.Off_it said:Wages more than revenue. Think what value for money that represents.
Shocking.1 -
But they weren't spunking it all on wages for the likes of Charlie Kirk .....golfaddick said:
Have you seen Tesla's accounts. Not sure what they are now but early 2020's they were losing hundreds of millions.se9addick said:
Football is insane. Any other business that had both wages and losses that exceed 100% of rev would be done for.Off_it said:Wages more than revenue. Think what value for money that represents.
Shocking.13 -
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.7 -
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 correctHenry Irving said: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.1 -
Sponsored links:
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Agree but football isnt any other busines.se9addick said:
Football is insane. Any other business that had both wages and losses that exceed 100% of rev would be done for.Off_it said:Wages more than revenue. Think what value for money that represents.
Shocking.
There is a constant stream of well meaning fans, egotists, crooks and investors after either a return or a thrill.0 -
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.
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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.
Just add it to the debt :-)2 -
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.Henry Irving said: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.9 -
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.Henry Irving said: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.15 -
But Tesla didn’t lose anything like the same amount as their total revenue.golfaddick said:
Have you seen Tesla's accounts. Not sure what they are now but early 2020's they were losing hundreds of millions.se9addick said:
Football is insane. Any other business that had both wages and losses that exceed 100% of rev would be done for.Off_it said:Wages more than revenue. Think what value for money that represents.
Shocking.
Charlton losses amounted to twice their revenue, relatively speaking Charlton’s accounts are much more concerning.0 -
Only 3 clubs in the Prem making a profit, according to this:
https://www.bbc.com/sport/football/68713522
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Put it on the slate, Dave .....Fortune 82nd Minute said: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.
Just add it to the debt :-)
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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.1
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Perhaps, like the Daily Telegraph, they were advised that anyone with basic competence could reduce Charlton’s operating loss to £1m-£2m.Rob7Lee said:
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.Henry Irving said: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.
Although tbh I don’t believe the major shareholders can be that stupid. And even then…
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Sponsored links:
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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.2 -
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 .fenaddick said:
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.Henry Irving said: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.4 -
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.Airman Brown said:
Perhaps, like the Daily Telegraph, they were advised that anyone with basic competence could reduce Charlton’s operating loss to £1m-£2m.Rob7Lee said:
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.Henry Irving said: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.
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!0 -
£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?0 -
What are the odds on Jones staying quiet if the ownership don't deliver the funds they no doubt promised him when he signed?1
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Seems to me that generally in football we don’t learn much and I assume contracts sufficiently tight to ensure that in return for the pay offs.carly burn said:What are the odds on Jones staying quiet if the ownership don't deliver the funds they no doubt promised him when he signed?It’s not our club it’s football wide I think.0 -
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?Athletico Charlton said:£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?
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?
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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.Kieran Maguire·Millwall submit 22/23 accounts: 🔑 figsRevenue £19.3m ⬆️4%Wages £22.6m ⬆️1%Losses pre player sales £13.7m ⬆️18%Player sales £2.7mPlayer purchases £4m
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.
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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.0 -
The championship is a whole other level of financial pain if you want to be competitive.0
