Big losses at Charlton
Charlton Athletic have reported a loss of £13.5m for the 2015-16 season, up by £9.5m from the previous twelve months. These 'unsustainable' losses are attributed to efforts to maintain the club's Championship status in what turned out to be a rather expensive relegation.
For the 2015/16 season, the net income generated for Charlton Athletic through player trading was a negligible £39,000, the Championship average was £4.7m (from figures published to date). The report does not include 2016 summer player sales, which generated income of £6.1m and will be recognised in the 2016/17 accounts.
The club’s operating loss at £12.6m is marginally below the Championship average of £14.2m (from figures published to date). The report also stated the club has completely cleared bank debt. This is for the first time since 1998. Substantial sums are, however, owed to a company controlled by owner Roland Duchatelet. £55.6m is owed to Bation 2010 and total debt is £61.7m.
For the year ending 30th June 2016, the club recorded a 3 per cent increase in turnover from £11.8m to £12.1m . Central income, which consists of EFL and Premier League central distributions, totalled £5.0m, a 19 per cent increase.Matchday income was down 9 per cent due to a decrease in attendances and fan discontent with Duchatelet, leading to reduced purchases at The Valley on matchdays. Commercial income was up 11 per cent, while other income was down 9 per cent.