Charlton Athletic accounts filed for year ending June 2017

Charlton Athletic Football Club last week filed the financial statements for the period ending 30th June 2017 at Companies House. 

The key points from these accounts have been summarised from the notes below. 

Key Points 

-    Charlton Athletic made a profit before taxation, as a result of player trading. The report summarising the accounts states: “This (player sales) was a necessity because of players wanted to test themselves at a higher level and with the club needing to clear wages and generate income to fall in line with the stricter financial regulations (SCMP) in League One.”

-    Much of the profit from the player trading has been spent on covering costs to keep the club running, investment in the squad predominantly through player salaries and training ground development. Further spend on the training ground, of approximately £2m, is forecasted in the report for the remainder of 2017

-    Revenue from Central Income (EFL and Premier League central distributions) decreased by £3.181m, 64% less than the previous year as a result of relegation from the Championship

-    Operating expenses were reduced as the club adapted to League One status

The report also notes the academy performance for 2016/17 season continued to be productive:

-    Five academy debutants in the club's first team: Ezri Konsa, Joe Aribo, Aaron Barnes, Brandon Hanlan and Dillon Phillips, with Konsa going on to make 39 appearances and becoming a World Champion with England U20s.

-    The productivity data at national level for the Academy also continues to be impressive with the six season statistics as follows:

o  All 92 professional clubs – ranked 4th

o  EFL clubs – 1st

o  Category 2 academies – 1st

-    The U23s were Professional Development League 2 South winners and national play-off semi-finalists

-    The U18s were Professional Development League 2 South winners and national play-off semi-finalists

-    The U14 team won the prestigious Youdan International tournament in Sheffield

Read Time: 2 mins