Charlton Athletic owner outlines financial problems in a further blow to the club

Charlton Athletic owner Roland Duchatelet has today told staff that they will not be receiving bonuses they were due because of the League One club is losing money, reports the South London Press.

Lee Bowyer’s side have sold Ezri Konsa, Harry Lennon and Josh Magennis this summer, but that is apparently not enough to stem the flow of cash out of the club. Other cost cutting measures are being investigated, inclduing non-payment of staff bonuses.

Staff who hit targets in their roles were due to get incentive, thought to equate to five or 10 per cent of their salary. These will now not be paid.

In a statement to staff, Duchatelet said:

“The club makes a very significant operating loss every month which is out of proportion with the occasional player sales revenue intended to offset these operating losses. Various parties interested in taking over have been put off by the high running costs. This is a matter of restoring the financial health of the club, which had got out of control for a League One club.”

it could get worse for employees at the Valley as the owner then mentioned the dreaded ‘R’ word, not relegation, but even worse.

“At the moment there are no plans for redundancies, but we will let you know if that situation does change.”

Our View

How? How on earth can this man continue to run Charlton Athletic into the ground? Surely, the time has come for the FA to take some form of action, not the sort that punishes the club.

They’ve got a set of committed fans, they’ve got good players and in Lee Bowyer, an up and coming manager who is surprising everyone.

They also have an owner that is seemingly intent on running the club into the ground. It can’t continue, can it?

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