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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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se9addick said:Off_it said:Wages more than revenue. Think what value for money that represents.
Shocking.1 -
golfaddick said:se9addick said: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 -
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.1 -
Sponsored links:
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se9addick said: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 -
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 -
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 -
golfaddick said:se9addick said: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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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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Rob7Lee said: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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fenaddick said: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 -
Airman Brown said:Rob7Lee said: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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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
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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.1 -
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