Date: 23rd December 2007 at 8:04pm
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Charlton chairman, Richard Murray has revealed that The Addicks have made a net loss of £9.9M.

This is mainly down to the implications of relegation to the Championship despite the club raising over £11M in player sales.

When in the Premier League the club’s annual income was around £42M this has now decreased to £35M.

Murray has stated that the club investing heavily in the squad under Iain Dowie was also to blame for the financial loss.

Many of the players Dowie signed as Head Coach have now left The Valley.

Money was also given to Alan Pardew to fund the purchases of Luke Varney and Paddy McCarthy and these must also be taken into account. Murray went on the reveal that he believes that Alan Pardew will be the man to take Charlton the the next level.

 

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