Charlton AthleticSport

Charlton Athletic report £9.6m operating loss in 2022-23 – with Global Football Partners putting in £8.9m

Charlton Athletic made an operating loss of £9.6million in 2022-23 – equating to around £190,000 a week.

The Addicks’ revenue over that period, up until the end of June, stayed at the same figure as the previous accounts – £9.8m – while wages dropped eight per cent to £10.3m.

Thomas Sandgaard sold the football club to Global Football Partners in July but the American-based Dane had to put cash into the business that month, his loans were waived as part of the transaction.

The newly-published accounts reveal that GFP have put in an additional £8.9m to cover operating loss.

Another financial hit was the £148k in severance pay – which included the dismissal of manager Ben Garner, who lasted less than six months in the role before being replaced by Dean Holden in December 2022.

That figure is significantly less than the £546k cost to part company with Nigel Adkins and Johnnie Jackson in 2021-22 – although the bulk of that payment was to the former.

One of the reasons for the timing of Jackson’s termination of employment in May 2022 was that the former Addicks captain was only due small recompense.

GFP will have expense in that area again as they have worked through Dean Holden and Michael Appleton before appointing Nathan Jones in February.

Picture: Paul Edwards

Charlton paid £678k in rent for The Valley and their training ground in 2022-23.

Charlton paid £228,948 in agent and intermediaries fees this season, in figures recently released by the FA.

To provide some context, there were nine clubs that paid more than the Addicks with Derby County (£434,465), Reading (£397,788), Blackpool (395,345) and Barnsley (£379,108) having the biggest outlays.

Charlton’s summer swoop for Cheltenham’s Alfie May is a deal worth £250,000 while compensation in the region of £150,000 was agreed with Burton for Terry Taylor.

While May has rattled in 27 goals in all competitions this season, just two of midfielder Taylor’s seven appearances for the South London club have been starts.

Taylor, lauded as one of the top lower-league prospects when he switched to SE7, has not featured since September 30. He underwent ankle surgery in October.

Charlton Athletic v Fleetwood Town SkyBet League One, The Valley, 02 September 2023
Picture : Keith Gillard

Taylor signed a deal with Charlton until the summer of 2026 but although back fit he has not featured under Jones.

Conor Coventry was another notable addition in the January transfer window but joined on a free from West Ham, with a sizeable sell-on percentage negotiated by the Premier League outfit – essentially the same deal that Sheffield Wednesday had also agreed.


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