Addicks chairman Richard Murray has told the South London Press that the club will almost certainly be forced to sell their star players in the summer if they do not win promotion from League One. Nicky Bailey has recently been the subject of interest from Burnley.
Murray insists making an instant return to the Championship is 'imperative' for the Addicks' medium-term future, since they face losing a number of key men in the summer if they are still in the third tier in six months' time.
The Charlton supremo commented, 'The differential between League One and the Championship in terms of TV money and gate receipts is about £4million per year, and that is not something that can be sustained over a long period. That makes a huge difference to the squad we can run with.'
I understand that the Charlton playing budget is currently around £6.5m a year, a little short of the £7m the directors put in earlier in the year. In contrast the wage bill at Swindon is believed to be £2.8m a year.
Leeds can now concentrate on the league after losing to Carlisle on penalties in the paint drying trophy. Apparently just before the end of the game the referee had to intervene after Leeds players fell out with each other over a misplaced pass. Southampton now look like favourites to win the Johnstones Paint Trophy and they also have their cup match against Pompey on Saturday to look forward to.
Swindon beat Oldham 4-2 last night, suggesting that we did quite well (or were lucky) to hold the scoreline against us to one on Saturday. If Swindon move their two games in hand they will move above Charlton. The fact that they conceded two late goals against Oldham does, however, suggest a somewhat suspect defence.
Showing posts with label Finances. Show all posts
Showing posts with label Finances. Show all posts
Wednesday, 10 February 2010
Monday, 1 February 2010
Dr Pangloss writes
A prominent Addick thinks I am taking an excessively optimistic line about the club. I would say that I was a pragmatic realist. However we got there (and we can debate that endlessly) we are in League 1 and we don't have the readies we need to buy, for example, a striker with an eye for goal.
In those circumstances it seems that our best hope this season is to get behind the manager and the team. I don't think Parky is the second Curbs, but I do think he is competent. The team has many limitations, but they are the only team we have. If the crowd is the 12th man, then getting on their back doesn't help. It will be interesting to see how we play now that we are away from The Valley.
As for the idea that the club's management is top heavy, I am not in a position to comment. Even with the team we see the tip of an iceberg: we never see what goes on at the training ground. We hear rumours, for example that Burton and Mooney have had the odd disagreement, but they are just that: unsubstantiated rumours.
The internal structure of the club on the non-playing side might as well be the other side of the moon as far as I am concerned. Other bloggers have suggested that we do have quite a high non-playing staff wage bill, but would redeploying those resources enable us to buy a quality player? I doubt it.
Excessive expectation levels are a big challenge in modern society and they are at The Valley this season. Understandable no doubt, but they can be self-defeating.
In those circumstances it seems that our best hope this season is to get behind the manager and the team. I don't think Parky is the second Curbs, but I do think he is competent. The team has many limitations, but they are the only team we have. If the crowd is the 12th man, then getting on their back doesn't help. It will be interesting to see how we play now that we are away from The Valley.
As for the idea that the club's management is top heavy, I am not in a position to comment. Even with the team we see the tip of an iceberg: we never see what goes on at the training ground. We hear rumours, for example that Burton and Mooney have had the odd disagreement, but they are just that: unsubstantiated rumours.
The internal structure of the club on the non-playing side might as well be the other side of the moon as far as I am concerned. Other bloggers have suggested that we do have quite a high non-playing staff wage bill, but would redeploying those resources enable us to buy a quality player? I doubt it.
Excessive expectation levels are a big challenge in modern society and they are at The Valley this season. Understandable no doubt, but they can be self-defeating.
Sunday, 24 January 2010
Murray speaks out on financial woes
Interesting interview with Richard Murray on Charlton's financial woes and the wider financial problems of football: Murray
Monday, 18 January 2010
Addicks announce season ticket deal
Charlton has announced its season-ticket plans for 2010/11. Prices for the next campaign are being frozen at current rates until March 31st, regardless of whether the team wins promotion back to the Championship later in the spring.
What's more, up to 500 supporters can put increases on ice until 2015 by signing up for a five-year season ticket based on five times the League One prices. [For some of us this involves a delicate actuarial calculation].
Charlton plc chairman Richard Murray explained: 'It's a measure of the loyalty of Charlton supporters that we have retained nearly 10,500 season-ticket holders in very difficult circumstances, and the board is very grateful for that support. We are still seeking external investment, but the club now needs to plan its finances for next year and we may not know what division we will be playing in until May, so getting season-ticket revenue in early is important to us.'
This would suggest that, not surprisingly, the club faces continuing cash flow challenges. Should the club ever become insolvent in the future, holders of five year tickets could become creditors of the club.
Season tickets will initially go on sale at 2009/10 prices from early February until the end of March.
What's more, up to 500 supporters can put increases on ice until 2015 by signing up for a five-year season ticket based on five times the League One prices. [For some of us this involves a delicate actuarial calculation].
Charlton plc chairman Richard Murray explained: 'It's a measure of the loyalty of Charlton supporters that we have retained nearly 10,500 season-ticket holders in very difficult circumstances, and the board is very grateful for that support. We are still seeking external investment, but the club now needs to plan its finances for next year and we may not know what division we will be playing in until May, so getting season-ticket revenue in early is important to us.'
This would suggest that, not surprisingly, the club faces continuing cash flow challenges. Should the club ever become insolvent in the future, holders of five year tickets could become creditors of the club.
Season tickets will initially go on sale at 2009/10 prices from early February until the end of March.
Wednesday, 13 January 2010
No money to bring in players
Charlton can only afford to bring in or consolidate loans during the transfer window, there is no money to sign players: Cash
We have effectively known this for some time. Perhaps the real challenge, as assistant boss Tim Breacker has pointed out, is to hang on to our existing players: Stars
I think that we will see a relatively subdued transfer market in which valuations will often be below what clubs expect. Certainly, any club hoping to solve financial problems by selling players may have a nasty shock. Hopefully, we can retain our existing squad with the loan signings and this should at least give us a chance of promotion.
If we don't succeed, then the better players will have to be sold in the summer when it might be possible to get a better price. The alternative would be administration, but a 10 point penalty would inhibit any promotion push.
We have effectively known this for some time. Perhaps the real challenge, as assistant boss Tim Breacker has pointed out, is to hang on to our existing players: Stars
I think that we will see a relatively subdued transfer market in which valuations will often be below what clubs expect. Certainly, any club hoping to solve financial problems by selling players may have a nasty shock. Hopefully, we can retain our existing squad with the loan signings and this should at least give us a chance of promotion.
If we don't succeed, then the better players will have to be sold in the summer when it might be possible to get a better price. The alternative would be administration, but a 10 point penalty would inhibit any promotion push.
Tuesday, 8 December 2009
The big screen
The piece in Saturday's programme about the Big Screen shows just how parlous the club's financial situation still is, although it is understandable that resources should be concentrated on the pitch which is where it really matters. Incidentally, nothing that follows represents a criticism of the Bream Team and the excellent work done by them and their feesh (who I haven't seen recently so perhaps they are victims of financial cutbacks).
It appears that the big screen has been there for about ten years and is showing its age, as has been evident for some time. The cells in it are particularly vulnerable to cold weather and are expensive to replace. Hence the idea of closing down the bottom part of the screen and using spare cells from there as replacements. It also soumds a bit desperate, but needs must.
One wonders if a commercial sponsor could not be found for the big screen, but this is not easy in a recession. One could also ask fans to sponsor a cell, but probably the costs of organising such a scheme would be too great. Moreover, one consequence of the staff cutbacks at The Valley is that we don't have the staff to organise sponsorship any more.
Looking back on Saturday's match, the most exciting event was the arrival of David Gold in his Rolls which I witnessed, not realising who was inside. Could he be our saviour? A controversial figure but he and Karen Brady did a decent job at the Blews. They didn't exactly splash the cash, but that has never been the Charlton way.
It appears that the big screen has been there for about ten years and is showing its age, as has been evident for some time. The cells in it are particularly vulnerable to cold weather and are expensive to replace. Hence the idea of closing down the bottom part of the screen and using spare cells from there as replacements. It also soumds a bit desperate, but needs must.
One wonders if a commercial sponsor could not be found for the big screen, but this is not easy in a recession. One could also ask fans to sponsor a cell, but probably the costs of organising such a scheme would be too great. Moreover, one consequence of the staff cutbacks at The Valley is that we don't have the staff to organise sponsorship any more.
Looking back on Saturday's match, the most exciting event was the arrival of David Gold in his Rolls which I witnessed, not realising who was inside. Could he be our saviour? A controversial figure but he and Karen Brady did a decent job at the Blews. They didn't exactly splash the cash, but that has never been the Charlton way.
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