The latest accounts for Charlton Athletic demonstrate the size of the financial challenge facing a medium-sized club trying to compete in the Championship against clubs with wealthy benefactors and parachute payments. The accounts are analysed here by Rick Everitt: Finances
Of particular concern is the fact that wages accounted for 101 per cent of turnover, twice the level recommended by Deloitte.
It is difficult to see how the club could move to anywhere near a break even position in the short to medium term even if stays up in the Championship which brings clear benefits in terms of higher television payments and more substantial away support.
2 comments:
People can moan as much as they like about RD but these figures show what a massive gamble he has taken in buying us. I imagine that Stephens and Kermagant were among our highest earners, so the wages to turnover ratio may have improved a little.
Financial accounting (or financial accountancy) is the field of accountancy concerned with the preparation of financial statements for decision bookkeeper makers.
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