Charlton had an operating loss of £256,000 a week last season in League One to take total historic losses to just under £60 million. Wages were £140 for every £100 of income, way above the 70 per cent level recommended by Uefa.
Katrien Miere's salary not disclosed as she was chief executive but not a director (she resigned during the financial year). Charlton paid redundancy costs of £374k in 2017/18.
In terms of player trading purchases were £310k and sales £4.4 million. The profit on player trading reduced the operating loss from £13.4m to £10.1m.
Match day income at £3.4m accounted for 46 per cent of the total. It was marginally up by 7 per cent from £3.2m. EFL and Premier League distributions fell by 21 per cent from £1.8m to £1.4m. The EFL distributions dropped from £1.2m to £0.7m (lower payments following relegation) and the Premier League solidarity payment increased from £0.6m to £0.7m.
Commercial income increased by 8 per cent to £1.4m, helped by the run in to the play offs. The strategic report states, 'Continued growth in commercial income is essential for the long-term sustainability of the Football Club.'
Charlton owed Roland £62 million at end of 2017/18 and interest is clocking up on the loans at a modest 2%. Interest cost £770k for the season. The club is worth far less than the value of the outstanding loans which raises concerns about its longer term survival.
Roland will close the club the moment he needs a reasonably large tax loss. End of story.
ReplyDeleteLuv Robin
One belated question on the accounts (to which only one person may know the answer). The farce of a sale process, which has been going on for over a year now, will have involved considerable costs. Does anyone know if these are included in the club's losses? By rights all associated costs should be paid direct out of Roland's pocket, as any sale of the club is nothing to do with the club per se. But I doubt that I'd be alone in suspecting that this is not the case here - and that the costs involved are added to the debt on which the club is notionally paying interest.
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