Picture: Paul Edwards

Charlton Athletic incurred an operational deficit of £9.6 million in 2022-23, which equates to around £190,000 per week.

Up until the end of June, the Addicks’ revenue remained consistent with the previous accounting at £9.8 million, but wages fell by 8% to £10.3 million.

Thomas Sandgaard sold the football club to Global Football Partners in July, although the American-based Dane was required to inject money into the firm that month; his loans were erased as part of the deal.

According to the freshly revealed records, GFP contributed an additional £8.9 million to offset operating losses.

Another financial hit was the £148k in severance pay—which included the departure of manager Ben Garner, who lasted less than six months in the post before being replaced

That price is much lower than the £546k paid to split ways with Nigel Adkins and Johnnie Jackson in 2021-22, however the majority of that payment went to the former.

Jackson’s termination in May 2022 was prompted in part by the fact that the former Addicks captain was only entitled to a minimal severance package.

GFP will have expense in that area again as they have worked through Dean Holden and Michael Appleton before appointing Nathan Jones in February.

Picture: Paul Edwards
Charlton paid £678k in rent for The Valley and their training ground in 2022-23

Charlton Athletic v Fleetwood Town SkyBet League One, The Valley, 02 September 2023
Picture : Keith Gillard

Conor Coventry was another notable arrival in the January transfer window, but he arrived on a free transfer from West Ham, with the Premier League club negotiating a significant sell-on percentage – basically the same agreement that Sheffield Wednesday had agreed to

GET MORE NEWS ON

      Fafatalltimesports.com

By Fafa T

Leave a Reply

Your email address will not be published. Required fields are marked *