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Last Updated: Monday, 24 December 2007, 10:55 GMT
Charlton reveal 9.9m annual loss
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Charlton Athletic plc chairman Richard Murray has revealed the club made a net loss of 9.9m in the financial year ending 30 June 2007.

The net loss for the previous season, 2005/06, was 8.1m, although turnover has increased from 35.9m to 41.9m.

There was an overall operating loss of 11.8m before player sales, which brought in 11.3m, and amortisation.

After their relegation from the Premier League, the sale of striker Darren Bent to Tottenham brought in 15.5m.

However, Bent's previous club Ipswich were entitled to a sell-on fee as part of the deal, which earned the Addicks a net fee of 12.9m.

As well as relegation, the 2006/07 season also saw Charlton go through three managers - Iain Dowie, Les Reed and Alan Pardew.

Amortisation is a financial term relating to the gradual reduction in value of an intangible asset to zero.

SEE ALSO
Bent makes 16.5m Tottenham move
29 Jun 07 |  Tottenham Hotspur


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