Friday 2 October 2020

Charlton were on brink of administration

In a very informative interview, Thomas Sandgaard has revealed that the club was on the brink of administration when he came in.  Cash balances were close to zero and there was a large tax bill due:

Sandgaard is having to pay a much higher rent to Roland, but the advantage is that he has got rid of side deals.  The amount being paid to Tahnoon Nimer and Matt Southall is not being disclosed.

The owner is fairly relaxed about the loss of match day revenue, seeing new sponsorship opportunities.  There is, however, a lot of rebuilding to be done and that will take some money.

Charlton is a London club with a big fan base and brand recognition, according to Sandgaard.

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