"The club entered the Championship better positioned than at any point in recent years, with modern facilities, a competitive squad, financial stability and a clear strategic direction."
"What our financial results do highlight, however, is the cost of football. That resource commitment is unsustainable in the long-term for any club, and it is a challenge for all of football to alter the economics of the game to reduce this level of cash loss."
Charlton Athletic's operating loss rose from 13.9 million to 16.7 million despite a 27% revenue increase. The club remains debt-free and is positioned well with modern facilities and a competitive squad. However, the financial results highlight the unsustainable costs of football. The club invested 3 million in improvements and noted that staff bonuses and increased wages affected finances. Attendance and season ticket sales rose, along with broadcast revenues after promotion. The team currently ranks 18th in the Championship.
Read at www.bbc.com
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