Charlton's concerning finances

A little behind schedule, Charlton have submitted their2023/24 accounts.   Once they have been uploaded at Companies House, I will undertake more analysis.   In the meantime, I am using the summary of football finance guru Kieran Maguire.   They make worrying reading.

Revenue was £8.8m down 10%. Wages £12.1m up 18%. Wages £138 for every £100 revenue, a very high figure more typical of the Championship.  Operating loss £14.6m up 48% (£280k a week).   Severance pay (to manager?) £746k.  Exec pay £1.9m up 80% (but remember, salmon coloured chinos don’t pay for themselves, quips Maguire).  Player purchases £1.9m.   Player sales were £1.3m.

Maguire states that total Charlton losses over the years are £71.5m.

Maguire has also revealed: 'Charlton’s auditors are unable to say whether or not the 23/24 accounts are accurate following a cyber attack against the club which meant that the auditors could not obtain supporting evidence.'

The dark days after Curbs left

A story in The Athletic reminds us of a time in our history we would rather forget.

'Les Reed remains the answer to a quiz question. Unfortunately for Charlton, he was not the answer to their prayers.   [He was a decent man with some real football knowledge, but one of his depth in the role].

“In discussing our strategy going forward, it became clear that the continuous speculation surrounding my position was counter-productive to our plans and Charlton’s future,” said Reed, sending an email to a journalist from the Daily Mail after his sacking days before Christmas in 2006 after just seven games and 41 days in charge — still a Premier League record.

“We agreed mutually that it was in the best interests of the club for me to stand down and this I have done in order that this great club can move on. My position had become untenable in circumstances not of my making and beyond my control. I have not run away from this challenge, I have done what is right for Charlton.“

Reed might not have run away but Charlton sent him packing less than six weeks after he replaced Iain Dowie, who himself had lasted just six months.

And you would hope that some of the circumstances that led to the decision were at least partly within his control — one win and just four points from seven league games, perhaps, or the League Cup defeat to League Two Wycombe Wanderers.

So it wasn't rocket science with Dowie and you didn't get off the runway with Reed?   Expect more turbulence with me

Reed was replaced by Alan Pardew.'   Hmm.

Jensen: Charlton was the best part of my career

Claus Jensen recalls his years at Charlton as the best time of his career.   He praises Curbs and recalls that goal at Arsenal on the 'Black Sabbath', voted by Charlton fans as the best goal ever: https://londonnewsonline.co.uk/sport/claus-jensen-charlton-athletic-was-the-best-part-of-my-career-the-memories-are-very-strong/

Fans move away from 'the core area'

He's been silent for a long time but now former fanzine editor Rick Everitt has emerged from his wardrobe to celebrate recent achievements at The Valley and declare that there are some grounds for optimism: https://www.votvonline.com/home/the-2024-25-blogs/4-4-25-jones-silences-critics-to-lead-charlton-revival/

The latest CAST survey also shows greater optimism and positivity among fans: https://www.castrust.org/2025/04/optimism-is-growing/ 

The survey did show a gradual scattering of the fan base away from the 'core area', although 12 per xcent still live in the Royal Borough of Greenwich and 62 per cent live in South London or Kent.

My guess would be that in the 1950s two-thirds lived in the boroughs of Greenwich, Woolwich and Bexley or in immediately adjacent areas such as Lewisham and Dartford.

BTW, I read in a national newspaper this week that Eltham may soon be called 'Blackheath borders!'

From Curbs to Karel Fraeye

The latest Four Four Two has a 'best and worst at Charlton' feature written by 'lifelong Addick Paddy Pamment'.   (Who he?  Ed)

He does, reasonably enough, seem to be a bit fixated on the Curbs Premier League era.   Personally I  would have found room for some players from the 1950s and also given Lennie Lawrence an honourable mention.   But you can draw up your own lists.