tag:blogger.com,1999:blog-38200671962898918782024-03-12T18:46:41.637-07:00Wrong Side of the ThamesCharlton Athletic, real ale, good food and whatever else is on my mind. Twitter @robontiodWrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.comBlogger102125tag:blogger.com,1999:blog-3820067196289891878.post-42991019492401080642017-05-09T06:19:00.003-07:002021-05-27T10:51:02.810-07:00Charlton Athletic Takeover Attempt - The right move?<br />
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<span style="font-family: inherit;">I noticed the recent article on the Kent Live news that the
rumoured Charlton Athletic bid from the Australian Football Consortium (AFC) had stalled owing to
a lack of capital raise.</span></div>
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<span style="font-family: inherit;">While any move to oust Duchatelet as owner should be seen as
a good thing I can’t but help think that if a consortium has trouble in even raising
the suggested purchase price then questions must be raised as to their ability to maintain the ongoing financial commitment that is required for a football club.</span></div>
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<span style="font-family: inherit;">Let’s not kid ourselves here. Breaking even is an admirable goal and might
be achievable but currently not many clubs do achieve this. The Deloitte 2016 annual review of
football gave an average annual loss for
the 2014/15 season of £1.7m for League One clubs and £0.5m for League Two
clubs.</span></div>
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<span style="font-family: inherit;">Charlton’s losses run even larger than this and given the
term of existing players’ contracts, the commitment made to the training ground and the
size of the Valley generally such losses cannot be curtailed immediately.</span></div>
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<span style="font-family: inherit;">In fact the AFC’s website states that “<span style="color: #151515;">A critical component of
AFC’s strategy will be to invest heavily into the training facility so that the
club can attract and develop local talent and provide them with the opportunity
to represent their club at a senior level.”<o:p></o:p></span></span></div>
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<span style="font-family: inherit;">Given all this, any investor would need a </span>sizable<span style="font-family: inherit;"> war chest
just to allow the club to continue in its current form. This is just not going to come from a scratch investment company such as AFC. The last thing that fans want is a nervous wait while the company struggles with a whip around in order to avoid bankruptcy. </span></div>
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<span style="font-family: inherit;">Any debt to finance these losses would need to be raised
from external commercial lenders such as banks (rather than a benevolent owner) at commercial rates and with suitable security over assets such as the football stadium.</span></div>
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<span style="font-family: inherit;">I'm no Duchatelet fan but while I'm sure that the AFC has a board with the necessary football experience (unlike our current CEO and owner) we need to ensure that they have the adequate resources to go along with it.</span></div>
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<span style="font-family: inherit;">Sources</span></div>
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<span style="font-family: inherit;">Kent Live Article</span></div>
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<a href="http://www.kentlive.news/charlton-athletic-takeover-talks-australian-investors-attempting-to-raise-more-cash/story-30314448-detail/story.html"><span style="font-family: inherit;">http://www.kentlive.news/charlton-athletic-takeover-talks-australian-investors-attempting-to-raise-more-cash/story-30314448-detail/story.html</span></a></div>
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<span style="font-family: inherit;">Deloitte Annual Review of Football</span></div>
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<a href="https://www2.deloitte.com/uk/en/pages/sports-business-group/articles/annual-review-of-football-finance.html"><span style="font-family: inherit;">https://www2.deloitte.com/uk/en/pages/sports-business-group/articles/annual-review-of-football-finance.html</span></a></div>
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Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.comtag:blogger.com,1999:blog-3820067196289891878.post-25310265618217088112017-04-25T08:03:00.001-07:002017-05-09T06:22:33.489-07:00A Tour of Deptford's Pubs and Other Drinking Establishments<div class="MsoNormal">
I’m afraid the football at the Valley has not been much to
write about this season and I fear that it won’t get any better with the
current owner and CEO in place so I will be joining the protests for the last
game of the season this Sunday.</div>
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It’s become a tradition of mine to go on a pub crawl with a
few friends after the final game and this year will be no exception. I’ve chosen Deptford this year as its not far
from Charlton and has added or refurbished a number of establishments over
the last two years.</div>
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You can catch a 177 from just outside the Valley or a 53
from near the White Swan pub in Charlton Village, or use the railway. Either way it’s only a 20-30 minute journey.</div>
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguExdZ7gfLkSf3wanpFQx_0reQtAvhCPoUodHhywV4X8og8R18S5W9UAVWfx-D3H0-3BoSpMzdv7_FvgUshMooXqSCcUEfuMykRQQRhiQ42to8LUbmAMCsOiIuHtmntVBB1EkBP802d3Tj/s1600/IMG_1446.JPG" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguExdZ7gfLkSf3wanpFQx_0reQtAvhCPoUodHhywV4X8og8R18S5W9UAVWfx-D3H0-3BoSpMzdv7_FvgUshMooXqSCcUEfuMykRQQRhiQ42to8LUbmAMCsOiIuHtmntVBB1EkBP802d3Tj/s320/IMG_1446.JPG" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Brookmill ale selection</td></tr>
</tbody></table>
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A five minute walk south of Deptford Bridge DLR station you’ll
find the the Brookmill on Cranbrook Road.
It was refurbished and opened as a Gastro pub in August 2016. They have a nice selection of 3-4 usually London
ales, from Wimbledon, Bellevue, Twickenham and Brockley to name a few. It has a high walled garden which is a perfect
sun trap in the afternoon.</div>
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Returning to the DLR a short walk west just past Deptford
High Street brings you to the Royal Albert.
One of the better Antic pubs it has three to four real ales, plus the
usual craft ales and a decent menu which is a cut above the standard pub fare.</div>
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The Royal Standard on Tanner’s Hill is worth a mention but I
have yet to venture there.</div>
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Going up Deptford High Street towards the Thames you’ll find
another Antic pub, the Job Centre. It’s
been rather quiet the last few times I visited, probably overshadowed by its
lack of </div>
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There has been a proliferation of new venues where the railway
line crosses the High Street. On the
right hand side down Resolution Way there is a trendy bar called Buster
Mantis. I haven’t tried this yet as a
little further along is Deptford’s first Brewery, Villages Brewery. The tap room is open on Friday evenings and Saturday
from noon. I recommend it for a choice
of beers different from the usual brewery line ups. I particularly like the Pontoon, a south
pacific red ale which combines citrus flavours with a biscuity caramel malt finish.</div>
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsJ3lgOsXt2JesX_L8nPQftfiQgUgruszrm7ZlmPuYgR6GgTqKPPcTwm3TXXB7fj0V1QdfpcOChGwkQFWXSn09qi4MFQm6HY3erKkMLhImsmXEaKO7vVF7zck9gnhWTP6LoQw2JLvNxxjp/s1600/IMG_1448.JPG" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgsJ3lgOsXt2JesX_L8nPQftfiQgUgruszrm7ZlmPuYgR6GgTqKPPcTwm3TXXB7fj0V1QdfpcOChGwkQFWXSn09qi4MFQm6HY3erKkMLhImsmXEaKO7vVF7zck9gnhWTP6LoQw2JLvNxxjp/s320/IMG_1448.JPG" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Little Nans Bar cocktail list </td></tr>
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On the other side, right next to Deptford railway station is
a collection of bars and street food outlets that are all worth a visit. The area is pedestrianised so you can sit outside and there is a a good vibe to it.
First there is Little Nan’s bar an eclectic mix of cocktails served in
tea pots, fresh cake and snacks . Next
door is </div>
<br />
<br />
Archies that does delicious grilled cheese sandwiches with house made
pickles and craft ale to wash it down. However,
my favourite is Frankie goes to Bollywood, an alternative twist on Indian
food. Dining at each is informal with
good service, quality ingredients and won’t cost the earth.<br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguPahntjvbBf7hm8iWiAawgUOKEC3oTmb4grFZPNq5ehHU167o5rMaX1UBhqiO_Mn7vykyenHAtaxvGC3bP1JvD-s-KFyBipOP6W2f0eWtHV0cNfU558q84VeD94GXCqWyjeNd1wvB4eWg/s1600/IMG_1453.JPG" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEguPahntjvbBf7hm8iWiAawgUOKEC3oTmb4grFZPNq5ehHU167o5rMaX1UBhqiO_Mn7vykyenHAtaxvGC3bP1JvD-s-KFyBipOP6W2f0eWtHV0cNfU558q84VeD94GXCqWyjeNd1wvB4eWg/s320/IMG_1453.JPG" width="240" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Tandoori Fried Chicken and Bhangras & Mash<br />
at Frankie Goes to Bollywood</td></tr>
</tbody></table>
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Towards the top of the high street is Wine Makers wine bar
and restaurant. It’s a small
establishment offering wines, homemade charcuterie and a compact but thoughtful
and changing menu. Being fairly new is
quite packed of an evening but from the reviews it’s a welcome addition to the
Deptford scene.</div>
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For a more traditional pub I would recommend the Dog &
Bell tucked away on Prince Street, a stone’s throw from the Thames and five
minutes north of Deptford High Street. I
would choose this as my local. They always has a great selection of well looked
after and constantly changing real ale at good prices (£3.20-£3.40). The new Landlord has kept up the ale but
spruced up the pub and it has a nice friendly local atmosphere. Don’t forget to try a pork pie with your
pint.</div>
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A little further afield towards Surrey Quays is the Black
Horse on Everlyn Street, opposite the old fire station. Again a change of ownership has seen this pub
transformed with plenty of craft beers and an amazing collection of spirits served by friendly staff. The freshly made sour dough pizzas are a must
try.</div>
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Either way there is something for everyone in Deptford.</div>
Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-91340185710327220602016-11-23T03:09:00.001-08:002016-11-23T03:11:48.174-08:00A Poisoned ChaliceSo it looks like Karl Robinson is about to take the hot seat at the Valley.<br />
<br />
I'm pretty indifferent about the manager these days but I'm amazed at why anyone would want to go and work under such a toxic management and ownership regime such as Charlton, so it must be a sign of desperation for anyone willing to take on the role.<br />
<br />
It doesn't really matter who they are, we know the same result as long as our incompetent CEO Katrien Meire and meddling clueless and impatient owner Roland Duchatelet are in charge.<br />
<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFSO1esRiX5bBinaheuJxUwQtAmmBqPhM9oirgnwqbvXW_XTImMhDJTzghQ3un6DItwk59F2i6YQwKKOOizNm9TFNt0QzVjbD8DO3O5UuKSYQsNE90_TaiMhBOJr_0czuutXS9gQ3bCDq2/s1600/mini+market+final+flyer.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFSO1esRiX5bBinaheuJxUwQtAmmBqPhM9oirgnwqbvXW_XTImMhDJTzghQ3un6DItwk59F2i6YQwKKOOizNm9TFNt0QzVjbD8DO3O5UuKSYQsNE90_TaiMhBOJr_0czuutXS9gQ3bCDq2/s320/mini+market+final+flyer.jpg" width="226" /></a><br />
What should be more surprising is that the Charlton board would consider someone who also took their team down to League One last season and are currently languishing in the relegation places.<br />
<br />
Instead of attending our FA cup fixture I will be hosting a Christmas stall selling my home made gin kits (see advert below) at the Woolwich Equitable pub on 3 December and will donate the cost of the match ticket to the Charlton Protest Fund.<br />
<br />
For details of how to donate see here <a href="http://charltoncard.tumblr.com/post/139650202571/everything-you-need-to-know-about-cards-protest">http://charltoncard.tumblr.com/post/139650202571/everything-you-need-to-know-about-cards-protest</a><br />
<br />
Come and say hello if you're also not going to the match.<br />
<br />
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<div class="post-body entry-content" id="post-body-2945736335845770258" itemprop="articleBody" style="background-color: white; color: #222222; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13.2px; line-height: 1.4; position: relative; width: 570px;">
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Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-3913867509838977812016-11-23T03:09:00.000-08:002016-11-23T03:10:34.072-08:00A Poisoned ChaliceSo it looks like Karl Robinson is about to take the hot seat at the Valley.<br />
<br />
I'm pretty indifferent about the manager these days but I'm amazed at why anyone would want to go and work under such a toxic management and ownership regime such as Charlton, so it must be a sign of desperation for anyone willing to take on the role.<br />
<br />
It doesn't really matter who they are, we know the same result as long as our incompetent CEO Katrien Meire and meddling clueless and impatient owner Roland Duchatelet are in charge.<br />
<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFSO1esRiX5bBinaheuJxUwQtAmmBqPhM9oirgnwqbvXW_XTImMhDJTzghQ3un6DItwk59F2i6YQwKKOOizNm9TFNt0QzVjbD8DO3O5UuKSYQsNE90_TaiMhBOJr_0czuutXS9gQ3bCDq2/s1600/mini+market+final+flyer.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjFSO1esRiX5bBinaheuJxUwQtAmmBqPhM9oirgnwqbvXW_XTImMhDJTzghQ3un6DItwk59F2i6YQwKKOOizNm9TFNt0QzVjbD8DO3O5UuKSYQsNE90_TaiMhBOJr_0czuutXS9gQ3bCDq2/s320/mini+market+final+flyer.jpg" width="226" /></a><br />
What should be more surprising is that the Charlton board would consider someone who also took their team down to League One last season and are currently languishing in the relegation places.<br />
<br />
Instead of attending our FA cup fixture I will be hosting a Christmas stall selling my home made gin kits (see advert below) at the Woolwich Equitable pub on 3 December and will donate the cost of the match ticket to the Charlton Protest Fund.<br />
<br />
For details of how to donate see here http://charltoncard.tumblr.com/post/139650202571/everything-you-need-to-know-about-cards-protest)<br />
<br />
Come and say hello if you're also not going to the match.<br />
<br />
<br />
<div class="post-body entry-content" id="post-body-2945736335845770258" itemprop="articleBody" style="background-color: white; color: #222222; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13.2px; line-height: 1.4; position: relative; width: 570px;">
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Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-29457363358457702582016-06-02T04:08:00.000-07:002016-06-02T04:13:21.377-07:00Deloitte Annual Review of FootballWhile Charlton fans are waiting for our new manager to be appointed, I thought it might be worthwhile pointing out that the accounting firm Deloitte have issued their Annual Review of Football Finance, a summary of which can be found here :-<br />
<br />
<a href="http://www2.deloitte.com/uk/en/pages/sports-business-group/articles/annual-review-of-football-finance.html">www2.deloitte.com/uk/en/pages/sports-business-group/articles/annual-review-of-football-finance.html</a><br />
<br />
I wrote about the Financial Fair Play implications for Charlton falling down to league one in this blog a short while ago and the latest Supporters Trust newsletter also has an article on the subject. The key point is that clubs in this division are subject to a Salary Cost Management Protocol (SCMP) player wages must be no more than 65% of turnover (there are of course plenty of exceptions for newly relegated clubs, definition of turnover etc). See more on this topic here:-<br />
<br />
<a href="http://wrongsideofthethames.blogspot.co.uk/2016/04/financial-fair-play-all-change-as.html">wrongsideofthethames.blogspot.co.uk/2016/04/financial-fair-play-all-change-as.html</a><br />
<br />
<br />
The task of complying with those rules is shown clearly on page 26 and 27 of the Deloitte summary. It shows total League One revenues to be less than a quarter of the Championship. Despite the SCMP, wages in League One breached the cap but this may be down to the exceptions from larger clubs such as Wigan dropping down and does not necessary signify a breach.<br />
<br />
The challenges for Charlton Athletic are huge and the delay in announcing a new manager cannot help the situation.<br />
<br />
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<br />Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com1tag:blogger.com,1999:blog-3820067196289891878.post-40053622530346442152016-05-25T05:27:00.000-07:002016-05-25T05:47:22.044-07:00Ticket Chaos at the Valley<div class="MsoNormal">
First a happy Clive Mendonca Day to all Charlton fans.<o:p></o:p></div>
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Well as usual another Tuesday at Charlton Athletic didn’t
let us down, this time it appears with shenanigans in the ticket office. Sources state that the head of ticketing Mandy
Anderson- Myers has quit apparently after a disagreement with the chief
financial officer.<o:p></o:p></div>
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It would be a fair assumption to make that this was over
resources for the upcoming season. As
the club is relegated to league one revenues fall and so cuts have to be made
in all areas. This happened last time
the club was demoted and should not be an unexpected development.<o:p></o:p></div>
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So was Anderson-Myers right to protest? To start with there is the issue of up to 2,400 refund
requests for all those in the North Lower whose view was obscured by the posts and
netting. It appears that the club is
dithering on its response with Anderson-Myers appearing to have passed the buck
to another department according to various sources on twitter. I wouldn’t hold my breath for a resolution any time soon, but fans should keep on insisting on a refund for a clearly unacceptable situation.<br />
<div>
<br />
<div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh26Wm3Q4sKc4EudS4Gcu4oOKI0fWG2CTcX8WP4RC3mTXLzzNRd-QImB5XhM2TzsTOgE1c-6pKs2WGIsFFkfxUCRSzPw3ce4QkCicR41sBrU8FqUVLRGHZmcdk5WkWpIHFbB7bzmQD6KBYZ/s1600/626B6936-BA42-455E-8FB3-39B23FBE75C5.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh26Wm3Q4sKc4EudS4Gcu4oOKI0fWG2CTcX8WP4RC3mTXLzzNRd-QImB5XhM2TzsTOgE1c-6pKs2WGIsFFkfxUCRSzPw3ce4QkCicR41sBrU8FqUVLRGHZmcdk5WkWpIHFbB7bzmQD6KBYZ/s320/626B6936-BA42-455E-8FB3-39B23FBE75C5.JPG" width="288" /></a><br />
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<o:p></o:p></div>
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Looking towards to the new season, clearly, the more season tickets sold by a club prior to the
start of the season, the fewer resources they require to issue tickets
throughout the season. The latest on season tickets sold from Dansk_Red on the
Charlton Life forum is 3,429 at the back end of April. This may have now risen to 4,000 but is well
below last year’s 10,000 plus tickets.
Most of this is down to an effective campaign to boycott season tickets by CARD (see @CharltonCARD and www.facebook.com/CharltonCARD for details ). This means at least an additional 6,000
tickets to issue for each game.</div>
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This of
course makes a big assumption that all those boycotting actually do buy individual match tickets and of course that attendances are static which undoubtedly will not be the case. Last year's average attendance at the Valley was around 15,000-16,000. Putting the boycott aside I would normally expect this to drop to around 11,000-12,000 which from memory was the crowd size last time we were in League One.</div>
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Assuming an effective boycott then individual match day ticket sales will actually be the lower than the season just gone.</div>
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The introduction of the ticketing website with print at home
tickets and bar code scanning to enter the ground mean that less staff are
required as the process becomes more automated.
This is not a complete panacea as there is a need to monitor and
restrict ticket sales for high profile games such as Millwall or Leeds to
ensure proper segregation but again it requires less resources.<o:p></o:p></div>
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On the subject of ticketing many fans have said that they
will only be buying away tickets so that they can continue to support the team
without putting money into the owner’s pockets. I will be doing the same but you should be aware that Football League regulations state that the away club may
receive a commission of 5% for tickets sold so if you really don't want to give money to the regime it might be better to buy on the day at the away club.</div>
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Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-37797170349326195832016-05-18T10:56:00.001-07:002016-05-18T10:56:51.948-07:00Article on Duchatelet's influence at St Truiden<br />
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<br /></div>
<br />
<br />
John Chapman the Belgium football writer (look for him on twitter under @BelgoFoot, he is worth a follow) has been a good source of information on the goings on in the Duchatelet network.<br />
<br />
While Duchatelet has now sold Standard Liege John still provides information on St Truiden. The latest snippet is a report from Sport Foot Magazine. You can read the original article here:-<br />
<br />
<a href="http://sportmagazine.levif.be/sport/foot-national/duchatelet-a-discute-avec-des-coaches-pour-saint-trond/article-normal-501551.html">http://sportmagazine.levif.be/sport/foot-national/duchatelet-a-discute-avec-des-coaches-pour-saint-trond/article-normal-501551.html</a><br />
<br />
If your language skills are a little rusty and you use Chrome as a your browser you can "right click" on the article to translate it into English, otherwise copy and paste into Google Translate.<br />
<br />
The gist of the article is that it appears that Mr Duchatelet has a strong say in the running of the club despite St Truiden being owned by Mr Duchatelet's partner and him having no formal position at the club.<br />
<br />
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLPHWbT-5a-PZcoy6r5o9-Gzxo5jNuwi6JgYtfuYzjtMiRwxgnYcZfOyGp9TJQYEghUHzcr0XU_Y9uVYGCtlffVfoT2yTRbVS-S88xlQolzaltpCowcKs3B63wi6JFFqd6X1fZWqW7pdd2/s1600/post+032.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLPHWbT-5a-PZcoy6r5o9-Gzxo5jNuwi6JgYtfuYzjtMiRwxgnYcZfOyGp9TJQYEghUHzcr0XU_Y9uVYGCtlffVfoT2yTRbVS-S88xlQolzaltpCowcKs3B63wi6JFFqd6X1fZWqW7pdd2/s320/post+032.jpg" width="320" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLPHWbT-5a-PZcoy6r5o9-Gzxo5jNuwi6JgYtfuYzjtMiRwxgnYcZfOyGp9TJQYEghUHzcr0XU_Y9uVYGCtlffVfoT2yTRbVS-S88xlQolzaltpCowcKs3B63wi6JFFqd6X1fZWqW7pdd2/s1600/post+032.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"></a>There are rules in the Belgium league that prevent the ownership of more than one football club so previously when he owned Standard Liege he could not be involved in the ownership or running of St Truiden. However, now that Standard has been sold he could legitimately take over the reigns at St Truiden with a formal shareholding or directorship.<br />
<br />
If the report is true then to flatly deny such influence when there is <a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLPHWbT-5a-PZcoy6r5o9-Gzxo5jNuwi6JgYtfuYzjtMiRwxgnYcZfOyGp9TJQYEghUHzcr0XU_Y9uVYGCtlffVfoT2yTRbVS-S88xlQolzaltpCowcKs3B63wi6JFFqd6X1fZWqW7pdd2/s1600/post+032.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"></a>no formal connection with the club is frankly disingenuous and a barrier to any sensible minded person taking up any role with responsibility at the club.<br />
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<br /></div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLPHWbT-5a-PZcoy6r5o9-Gzxo5jNuwi6JgYtfuYzjtMiRwxgnYcZfOyGp9TJQYEghUHzcr0XU_Y9uVYGCtlffVfoT2yTRbVS-S88xlQolzaltpCowcKs3B63wi6JFFqd6X1fZWqW7pdd2/s1600/post+032.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"></a>The fact that Roland is doing this should be no surprise to Charlton fans. Despite repeated assurances by the directors to the contrary we have seen the impact of Roland's meddling at the Valley. The more this goes on, the greater the lack of credibility in the eyes of anyone looking at Charlton. Given the alleged actions at St Truiden I doubt very much that any decent manager would want to join the club even if their contract gave specific assurances. Perception is everything Roland!<br />
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Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com1tag:blogger.com,1999:blog-3820067196289891878.post-76238298560055644392016-04-29T05:58:00.000-07:002016-04-29T06:07:38.534-07:00Financial Fair Play – All change as Charlton are relegated to League One<div class="MsoNormal">
As well as the obvious drop in income that the club will
suffer as a result of being relegated to League One it also has to contend with
a different set of rules for Financial Fair Play (FPP).<o:p></o:p></div>
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Unhelpfully the link to the Football League regulations has disappeared
from its website and they have not responded to my request for the regulations
or to restore the link so the following is my interpretation of the rules from
various other sources.<o:p></o:p></div>
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<br /></div>
<div class="MsoNormal">
This season in the Championship, under FPP, clubs were
permitted a maximum loss of £13m (or £5m if the owner did not inject more
equity) over one season.<o:p></o:p><br />
<br /></div>
<div class="MsoNormal">
However, in League One, clubs are subject to a Salary Cost
Management Protocol (SCMP) where player salaries are capped at 60% of Turnover
plus 100% of Football Fortune Income. <o:p></o:p><br />
<br /></div>
<div class="MsoNormal">
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhws21O3uzy1ksz11Awk0DtzktrEwbDI60EpcuBVaJJjZhfo04HNLfw1GB-00cRgJdz7X1I8DtmTN_U6R5nep5aJNWLI8WqR2EF6W3hEYU1Ai28cspsTet5dNBi7H9pVTB2NpJpeGMVZyS5/s1600/IMG_4888.JPG" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhws21O3uzy1ksz11Awk0DtzktrEwbDI60EpcuBVaJJjZhfo04HNLfw1GB-00cRgJdz7X1I8DtmTN_U6R5nep5aJNWLI8WqR2EF6W3hEYU1Ai28cspsTet5dNBi7H9pVTB2NpJpeGMVZyS5/s320/IMG_4888.JPG" width="240" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Fan Anger will reduce Turnover</td></tr>
</tbody></table>
Only wages of players are including non contracted
and loan players. Management, youth
players (under 20 and who have come through the club's youth programme) and other non playing staff are
not included. The salaries of players
loaned out to other clubs are not included for the duration of the loan.<br />
<br />
As a newly relegated club Charlton can also exclude some players from the wage bill if they were signed pre-September on a
contract longer than three seasons. I
believe that this exemption covers Bauer, Sarr and Bergdich but not Ba,
Cellobas or Kashi who only signed three year contracts.<o:p></o:p><br />
<br /></div>
<div class="MsoNormal">
The definition of Turnover includes match day income, commercial/sponsorship
income as well as revenue from TV rights.
As a newly demoted club this figure rises to 75% for Charlton for the
first season. If the club is demoted to
League two then the turnover figure drops to 55%.<o:p></o:p><br />
<br /></div>
<div class="MsoNormal">
Football Fortune Income is variable or one off income which includes financial donations and
equity from the owner, transfer income (on a cash basis) and cup match income. <o:p></o:p><br />
<br /></div>
<div class="MsoNormal">
The overall effect it to ensure that clubs have enough money
in the bank after covering players’ salaries to ensure that they should be able to break
even while still allowing them to spend windfall monies on player salaries.<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
The sanctions for breaking the rules is a player transfer
embargo.<o:p></o:p></div>
<div class="MsoNormal">
<br />
How does this impact on Charlton we might ask? Using the annual accounts to June 2015 staff turnover was 96%. This figure includes all training and football management as well as 45
administration, commercial and stadium staff so is on the high side for SCMP but is a good proxy and clearly will need to come down.
If turnover and wages were to remain as they stand then the owner would have
to inject approximately a further £3.3m as equity or a donation in order to meet the criteria
above. </div>
<div class="MsoNormal">
<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Clearly turnover will be heavily down across the board. Broadcasting income will be virtually non existent and I suspect ticket income will also be down heavily. I for one will not be renewing my season ticket under the current owner's regime. So as things currently stand it would be a good estimate to assume that for the 2016/17 season player salaries are higher than turnover. In practice I believe that the losses at the club will be larger than this year and greater than the amount required to meet the Turnover rule above.<br />
<br />
The good news for Charlton fans is that loans and other debt are specifically excluded from Turnover and Football Fortune Income calculations as it would defeat the object and just mean that the club gets further and further into debt. <span style="font-family: inherit;">Roland Duch<span style="background-color: white; color: #6a6a6a; line-height: 18.2px;">ât</span>elet will therefore have to fund the club properly through equity injections or a gift instead of a series of loans from his holdi</span>ng company Staprix NV.<br />
<div class="MsoNormal">
<o:p></o:p></div>
<div class="MsoNormal">
</div>
<br />
Or he could just sell up and go..........<br />
<br />
<br />
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<div class="MsoNormal">
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<div class="MsoNormal">
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Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-83806662023107085332016-03-16T04:48:00.000-07:002016-03-16T05:25:02.790-07:00The Charlton Owner doesn't learnThe following statement appeared on the Charlton athletic club website on the evening of 16 March. We are told from good sources that it comes directly from the owner :-<br />
<br />
<a href="http://www.cafc.co.uk/news/article/statement-3009419.aspx">http://www.cafc.co.uk/news/article/statement-3009419.aspx</a><br />
<br />
Its contents convey just what is wrong about our owner and his damaging approach to our club. Roland Duchatelet seems to have a very short memory. This was the man who owned Standard Liege where he sold star players and made other crass decisions in the day to day running of the football club. The fans held mass protests, rioted in the ground and ransacked his office. He promised more engagement with the fans and when this did not materialize the protests continued and eventually led to him selling it. <br />
<br />
<a href="http://www.theguardian.com/football/blog/2014/feb/14/charlton-athletic-roland-duchatelet-standard-liege">www.theguardian.com/football/blog/2014/feb/14/charlton-athletic-roland-duchatelet-standard-liege</a><br />
<br />
These are almost exactly the same measures that he is now introducing at Charlton and yet he can't seem to appreciate this extremely obvious point that he did it before and failed. Liege supporters warned us Charlton fans what would happen when he bought the club and it has turned out to be true. <br />
<br />
I like to think that Charlton fans are more civilized and inventive at protesting than the direct action taken by supporters in Belgium, and the protests at the Middlesbrough game show how effective they can be. They create the right headlines in the local and national press to highlight our plight and get the message across.<br />
<br />
We effectively have nine mini cup matches to stay up in the Championship and the team has my full support but I cannot see how anyone can back the owner in his crass running of the club.<br />
<br />
<br />
<span style="background-color: white; color: #222222; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 13.2px; line-height: 18.48px;">_________________________________________________________________________________</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<br />
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The group consists of three entities:-<o:p></o:p></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">1. Baton 2010 Limited, the holding company</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">2. Charlton Athletic Football Company Limited, the company that operates the football club</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">3. Charlton Athletic Holdings Limited which is a property holding company</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<br />
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">I use Baton 2010 Limited to give a proper overall view
of the club’s finances as it encompasses the results of all the subsidiaries and
includes all of Charlton’s activities. This
was the original vehicle set up by Richard Murray to rescue the club.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "trebuchet ms" , sans-serif;">General Comments<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The loss for the year was £4.4m (compared to £5.9m last year) rather
than the widely reported £3.78m which only accounts for the football
subsidiary.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">Turnover was down in all areas, despite a small increase in
crowd attendance. The outsourcing of the
catering to Delaware North explains most of the drop in match day income. The deal is similar to the Nike deal with the
superstore in that the club does not take the risk of purchasing and selling
foodstuffs but takes an agreed percentage of turnover. This results in a reduction in both turnover
and costs but hopefully an improved profitability.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "trebuchet ms" , sans-serif;">Staff & Player Costs<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The cost of player salaries remained flat at around the £10.2m
mark<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">Noticeably the number of non-football staff fell from 60 to
45 and the temporary match day staff has fallen from 306 to 112. The
fall in the latter number is probably due to the catering being outsourced to
Delaware North. I would expect this
figure to fall even further next year as the automated entry system no longer
requires the gate booths to be manned.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The book value of the squad remained flat. Bauer and Ba were acquired in June (other
players were purchased after the financial year end) but their cost was offset
by player amortization in the profit and loss account.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The club benefitted from player sales to the tune of £4.4m. This was mainly from the sale of Gomez and
Poyet. As these two players came from
the academy and so would have been carried the books at zero cost so the entire
transfer fee would be accounted for as profit.
As expected, it looks like the club sold Morrison for a pittance but
surprisingly it looks like they managed to make a little bit of money of
Lepoint too.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The club continues its policy of applying add on fees for
players sold (based on appearances, call ups to the England squad etc). This contingent revenue increased by £2m over
the year. However, the club also looks
like it is trying to reduce the upfront costs of players it acquires by
agreeing to pay contingent fees too as these roughly rose by £1.3m. As they are contingent we do not know if and
when these might be received or paid.
Poyet’s current form would seem to rule out further payments from his
sale, although I suspect we will see more money from the Gomez deal once he is
fit again.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">There are no directors’ fees shown in the accounts. The only director probably taking a salary is
Katrien Meire and it’s probably coming from Staprix or another part of
Duchatelet’s organisation. It is
reasonable to expect her to take a salary even though we might question her
experience for the role but this move takes out a level of transparency that we
would expect.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<b><span style="font-family: "trebuchet ms" , sans-serif;">Club Financing<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">As we all know, the club is mainly financed by its parent
company Staprix NV which is Roland Duchatelet’s holding company. However, rather than putting money in as equity
it has been lent to the club at a rate of 3%. These loans increased during the
year from £28.5m to £38m. This covers
the club’s losses, capital investment and repayment of some of the bank debt.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">Interest of £955,000 was charged on these loans during the
year. While the rate is a very
reasonable commercial rate it misses the point in that it is paying the owner. If this was equity then it is unlikely that a
dividend would be paid out owing to the losses incurred by the club. This makes Staprix a creditor rather than a
shareholder which puts Duchatelet’s money on par with the milk bill.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The only reason I can think for this is that interest is tax
deductible and the money is being recycled anyway in additional loans. However, you can only claim the tax back if
you actually pay tax in the first place and the company needs to be profitable first
before it can offset this.<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
<b><span style="font-family: "trebuchet ms" , sans-serif;">The Future<o:p></o:p></span></b></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">The focus on next year’ accounts (to June 2016) will be on
player costs and turnover. We brought in
a number of players in the summer and a lot of players on short term loans and
contracts in January. </span><span style="font-family: 'trebuchet ms', sans-serif;">This, combined with new contracts for Gudmundsson in the
summer and more recently for Lookman are bound to increase the wage bill. This will probably be partially offset by the sale of
Lookman to a Premier League club.</span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">I expect turnover to be down on the basis of falling
attendances as results on the pitch failed to live up to expectations. It will be interesting to see the impact of
the Charlton Card campaign too. The
rumours are that Delaware North are not happy with how things have turned out on their contract.<o:p></o:p></span></div>
<br />
<div class="MsoNormal">
<br /></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">#support the team not the regime</span><br />
<br />
<br />
<br />
<span style="background-color: white; color: #222222; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 13.2px; line-height: 18.48px;">_________________________________________________________________________________</span><br />
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="background: rgb(255, 255, 255); border: 1px solid rgb(238, 238, 238); box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; color: #222222; float: left; font-family: arial, tahoma, helvetica, freesans, sans-serif; font-size: 13.2px; line-height: 18.48px; margin-right: 1em; padding: 5px; position: relative;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRvupl01B15Bk2HfF7LcM99guyJ6DVwP6J9lKFe6YmhByD1TlT8x7n2h561CYzzelgjw8_AvNh-a4rBPX-ye0djzC0C9MA3e7PntcLiadR4j1GxdLs3rZkUNEQ-DU_ijDq1imljJc7kAV9/s1600/NewGin+003.jpg" imageanchor="1" style="clear: left; color: #888888; margin-bottom: 1em; margin-left: auto; margin-right: auto; text-decoration: none;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRvupl01B15Bk2HfF7LcM99guyJ6DVwP6J9lKFe6YmhByD1TlT8x7n2h561CYzzelgjw8_AvNh-a4rBPX-ye0djzC0C9MA3e7PntcLiadR4j1GxdLs3rZkUNEQ-DU_ijDq1imljJc7kAV9/s320/NewGin+003.jpg" style="background: transparent; border: none; box-shadow: rgba(0, 0, 0, 0.0980392) 0px 0px 0px; padding: 0px; position: relative;" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="font-size: 10.56px; text-align: center;">Gin Wizard Botanicals Kit</td></tr>
</tbody></table>
<span style="background-color: white; color: #222222; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 13.2px; line-height: 18.48px;"></span><b style="background-color: white; color: #222222; font-family: arial, tahoma, helvetica, freesans, sans-serif; font-size: 13.2px; line-height: 18.48px;"><span style="font-family: "trebuchet ms" , sans-serif;">Make your own craft gin at home within 24 hours. No distillation or complex equipment required. See <a href="http://ginwizard.wordpress.com/" style="color: #888888; text-decoration: none;">Ginwizard.wordpress.com</a> for more details</span></b>Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-59380093666583882082016-03-10T04:47:00.001-08:002016-03-10T04:47:44.323-08:00Charlton Athletic Accounts to June 2015 are now outFor those of you interested the financial report and accounts for Charlton Athletic for the year ending June 2015 are now available at Companies House. There are three companies in the group:-<br />
<br />
1. Baton 2010 Limited, the holding company<br />
2. Charlton Athletic Football Company Limited, the company that operates the football club<br />
3. Charlton Athletic Holdings Limited which is a property holding company<br />
<br />
On an initial glance there is nothing glaring in the accounts except that income fell across the board and the club is still financed by loans charged at 3% from Roland Duchatelet's holding company Staprix NV.<br />
<br />
I hope to provide a more complete breakdown of the club's finances once I've had a chance to study them in more depth.<br />
<br />
#support the team not the regime<br />
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<span style="background-color: white; color: #222222; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 13.2px; line-height: 18.48px;">_________________________________________________________________________________</span><br />
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="background: rgb(255, 255, 255); border: 1px solid rgb(238, 238, 238); box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; color: #222222; float: left; font-family: arial, tahoma, helvetica, freesans, sans-serif; font-size: 13.2px; line-height: 18.48px; margin-right: 1em; padding: 5px; position: relative;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRvupl01B15Bk2HfF7LcM99guyJ6DVwP6J9lKFe6YmhByD1TlT8x7n2h561CYzzelgjw8_AvNh-a4rBPX-ye0djzC0C9MA3e7PntcLiadR4j1GxdLs3rZkUNEQ-DU_ijDq1imljJc7kAV9/s1600/NewGin+003.jpg" imageanchor="1" style="clear: left; color: #888888; margin-bottom: 1em; margin-left: auto; margin-right: auto; text-decoration: none;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRvupl01B15Bk2HfF7LcM99guyJ6DVwP6J9lKFe6YmhByD1TlT8x7n2h561CYzzelgjw8_AvNh-a4rBPX-ye0djzC0C9MA3e7PntcLiadR4j1GxdLs3rZkUNEQ-DU_ijDq1imljJc7kAV9/s320/NewGin+003.jpg" style="background: transparent; border: none; box-shadow: rgba(0, 0, 0, 0.0980392) 0px 0px 0px; padding: 0px; position: relative;" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="font-size: 10.56px; text-align: center;">Gin Wizard Botanicals Kit</td></tr>
</tbody></table>
<span style="background-color: white; color: #222222; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 13.2px; line-height: 18.48px;"></span><b style="background-color: white; color: #222222; font-family: arial, tahoma, helvetica, freesans, sans-serif; font-size: 13.2px; line-height: 18.48px;"><span style="font-family: "trebuchet ms" , sans-serif;">Make your own craft gin at home within 24 hours. No distillation or complex equipment required. See <a href="http://ginwizard.wordpress.com/" style="color: #888888; text-decoration: none;">Ginwizard.wordpress.com</a> for more details</span></b>Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-72535468110166539362016-01-27T06:56:00.005-08:002016-01-28T02:36:04.272-08:00We want our Charlton back !<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjo8Di6IRztsfV6z_Eo_vQFctgMEzfpnta6lsxkNXCmuTkOGeOPimuC8huIlp6J701Z1SoNLI1fWEupse759_xHKCpmbPVQ-fxJ76VKU-IT2SWyfuDD7NweRYxAX-GMlys35NOWcPllyU1V/s1600/IMG_4720%255B1%255D.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjo8Di6IRztsfV6z_Eo_vQFctgMEzfpnta6lsxkNXCmuTkOGeOPimuC8huIlp6J701Z1SoNLI1fWEupse759_xHKCpmbPVQ-fxJ76VKU-IT2SWyfuDD7NweRYxAX-GMlys35NOWcPllyU1V/s320/IMG_4720%255B1%255D.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Passionate Protest by Charlton Supporters on Saturday</td></tr>
</tbody></table>
<br />
<div style="text-align: justify;">
The <a href="http://ourcharlton.org.uk/">ourcharlton.org.uk</a> petition against the current owner has now passed the 5,000 mark. If CEO Katrien Meire's argument that the number of discontented fans is a mere 2% this means that there is an active Charlton fan base of 250,000!</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
However, if you take Saturday's attendance at the match against Blackburn of 13,512 that's 37% of fans (more if you exclude the away support).</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Of course the true figure is a little south of this, with a number of Blackpool and Leeds fans having also signed the petition in sympathy with our plight. </div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
However, one can't argue that this is now a significant figure, and considerably north of our CEO's dismissive 2% comments. You also can't dispute that there were 3,000 fans protesting after the game.</div>
<div style="text-align: justify;">
<br /></div>
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; text-align: justify;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_UZjf03EMWWxdGEUgT_nseZI86NPz4TMZVfCpDckp-uL6YNxDfg0rj1zpaIfrXKEDTdQvlcKGIdFU3M_FjBnp0ry24WukSvnCLrFP6cS0iIFZA5PH_WMUrY3GU75s2mKKZ1LzB6Cw0MqH/s1600/IMG_4721%255B1%255D.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_UZjf03EMWWxdGEUgT_nseZI86NPz4TMZVfCpDckp-uL6YNxDfg0rj1zpaIfrXKEDTdQvlcKGIdFU3M_FjBnp0ry24WukSvnCLrFP6cS0iIFZA5PH_WMUrY3GU75s2mKKZ1LzB6Cw0MqH/s320/IMG_4721%255B1%255D.jpg" width="240" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">It got a little foggy</td></tr>
</tbody></table>
<div style="text-align: justify;">
I'd get the calculator out Katrien, it doesn't look like maths is your strongest point. Alternatively, rather than dismissing us you could try and be a bit contrite. We all make mistakes and it's not too late for you and Roland to properly engage with the fan base and attempt to make amends. You never know, it might also improve the club's financial situation.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
However, as it stands, the recent media releases by the club mean that it looks like there is a long way to go before the CEO and distant owner are prepared to properly engage with fans and so the protests will go on.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
If you are a Charlton fan and don't like the way the club is being run or the way fans are being treated then please visit the site above but do read the petition first before you choose to sign it.</div>
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<br />
<br />
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<span style="background-color: white; color: #222222; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 13.2px; line-height: 18.48px;">_________________________________________________________________________________</span><br />
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<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="background: rgb(255, 255, 255); border: 1px solid rgb(238, 238, 238); box-shadow: rgba(0, 0, 0, 0.0980392) 1px 1px 5px; color: #222222; float: left; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13.2px; line-height: 18.48px; margin-right: 1em; padding: 5px; position: relative;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRvupl01B15Bk2HfF7LcM99guyJ6DVwP6J9lKFe6YmhByD1TlT8x7n2h561CYzzelgjw8_AvNh-a4rBPX-ye0djzC0C9MA3e7PntcLiadR4j1GxdLs3rZkUNEQ-DU_ijDq1imljJc7kAV9/s1600/NewGin+003.jpg" imageanchor="1" style="clear: left; color: #888888; margin-bottom: 1em; margin-left: auto; margin-right: auto; text-decoration: none;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhRvupl01B15Bk2HfF7LcM99guyJ6DVwP6J9lKFe6YmhByD1TlT8x7n2h561CYzzelgjw8_AvNh-a4rBPX-ye0djzC0C9MA3e7PntcLiadR4j1GxdLs3rZkUNEQ-DU_ijDq1imljJc7kAV9/s320/NewGin+003.jpg" style="background: transparent; border: none; box-shadow: rgba(0, 0, 0, 0.0980392) 0px 0px 0px; padding: 0px; position: relative;" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="font-size: 10.56px; text-align: center;">Gin Wizard Botanicals Kit</td></tr>
</tbody></table>
<span style="background-color: white; color: #222222; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif; font-size: 13.2px; line-height: 18.48px;"></span><b style="background-color: white; color: #222222; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 13.2px; line-height: 18.48px;"><span style="font-family: "trebuchet ms" , sans-serif;">Make your own craft gin at home within 24 hours. No distillation or complex equipment required. See <a href="http://ginwizard.wordpress.com/" style="color: #888888; text-decoration: none;">Ginwizard.wordpress.com</a> for more details</span></b><br />
<div class="separator" style="clear: both; text-align: center;">
</div>
Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-19601464742696276402015-09-14T05:54:00.001-07:002015-09-14T07:02:15.184-07:00The White Swan in Charlton VillageGood news for Charlton fans who enjoy a decent pint before (and after) the game.<br />
<br />
The White Swan in Charlton Village has re-opened under new management and if my sources are correct I understand that its run by the same people that own the Pelton Arms in Greenwich which is a smashing pub with a great beer selection. If it's anything like the Pelton then the Charlton Village locals are very fortunate.<br />
<br />
I popped in on Saturday before the Rotherham match with the former landlord of the Old Loyal Britons and a friend who flies down from Scotland to see the Addicks and we weren't disappointed.<br />
<br />
The bar had a good selection with beers from the local Hopstuff Brewery, Caveman Brewery in Kent, Windsor & Eaton and Magic Bus cider.<br />
<br />
Of course a pub only survives if we make the effort to visit so if you're in the area do pay it a visit.<br />
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_______________________________________________________________________<br />
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<tr><td class="tr-caption" style="text-align: center;">Gin Wizard Botanicals Kit</td></tr>
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<b><span style="font-family: "Trebuchet MS",sans-serif;">Make your own craft gin at home within 24 hours. No distillation or complex equipment required. See <a href="http://ginwizard.wordpress.com/">Ginwizard.wordpress.com</a> for more details</span></b>Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-23668570424064310522015-08-24T06:26:00.001-07:002015-08-24T06:26:15.417-07:00Peterborough pub recommendations for travelling Charlton supportersAs Charlton Athletic are visiting Peterborough on Tuesday night I thought I'd flag a couple of previous posts for those Addicks making the trip and looking for decent watering holes<br />
<br />
<a href="http://wrongsideofthethames.blogspot.co.uk/2013/02/posh-pints-peterboro-beer-guide-for.html">http://wrongsideofthethames.blogspot.co.uk/2013/02/posh-pints-peterboro-beer-guide-for.html</a><br />
<br />
<a href="http://wrongsideofthethames.blogspot.co.uk/2013/03/pints-in-peterborough.html">http://wrongsideofthethames.blogspot.co.uk/2013/03/pints-in-peterborough.html</a><br />
<br />
The pubs are all pretty decent but the Posh's squad is somewhat depleted since we last played them. However, it will be far from a pushover for what I expect will be a youthful Charlton squad. <br />
<br />
Happy drinking and COYR ! Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-23646650470382545122015-04-17T02:46:00.002-07:002015-04-17T02:46:36.942-07:00Football Fixtures: It’s the Economy Stupid!<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
As the season draws to an end plans are already in hand for
the scheduling of next year’s football fixtures.<span style="mso-spacerun: yes;"> </span>So this is an open plea to the powers that be
to consider the humble fan but for more than the usual reasons.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Charlton played 11 league games on a Tuesday night over the
season including away fixtures at Leeds (away fans 303), Derby (311), Blackpool
(222) and Bolton (234) with a further two games held on a Friday evening.<span style="mso-spacerun: yes;"> </span>For away fans these games generally mean taking an afternoon off work or traveling major
commuter routes in the expensive rush hour.<span style="mso-spacerun: yes;">
</span>After the match it means a tiring journey home arriving back at two in
the morning or in many cases an overnight stay as the last trains have left by
the time the match is over.<span style="mso-spacerun: yes;"> </span>This makes
it difficult and undesirable for many fans to attend without sacrificing time
off work and costs over and above weekend travel, and the attendance figures back this up.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Turning up at the match is usually the only way we get to
see our teams play for these fixtures.<span style="mso-spacerun: yes;">
</span>Miss it and all you’ll get to see will be the goals on Sky Sports News
or Youtube.<span style="mso-spacerun: yes;"> </span>There won’t even be the
obligatory two and a half minutes on the Football League Show.<span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
As football fans we often appear to be bottom of the list of
priorities, especially when it comes to scheduling fixtures and yet some
sensible planning would not only allow fans to see their team in action but
also benefit so many more in a real commercial sense.<span style="mso-spacerun: yes;"> </span>To coin that memorable phrase once uttered by
an American politician “It’s the economy, stupid!”</div>
<div class="MsoNormal">
<br /></div>
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We all know the disparate financial gap between the Premier
League and the Championship with match day revenue being a key source of income.<span style="mso-spacerun: yes;"> </span>Who knows, Bolton with debts of around £173m
could certainly have done with more than the 234 hardy Charlton fans that made
the long journey North that night.<br />
<br />
While we may not realise it, professional football plays an
important role in the economy.<span style="mso-spacerun: yes;"> </span>The economist
would put forward the argument as follows:-</div>
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<br /></div>
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A football club arranges a game of football.<span style="mso-spacerun: yes;"> </span>Fans buy tickets, programmes, merchandise and
beverages from the club allowing it to purchase inventory from suppliers, employ
footballers, ground staff etc, who all spend their money, creating a knock on
effect in the economy.<span style="mso-spacerun: yes;"> </span>Similarly, fans
travel to the ground, meet up and have a few pints and some food thus boosting
bus and rail companies and stimulating the trade for local hostelries and
eateries in the area, again stimulating trade and employment in the economy. The government gets more tax revenue from VAT, corporation tax and PAYE thus allowing it to spend more money on public services or cut taxes giving individuals the ability to spend more money.</div>
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<br /></div>
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</div>
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</div>
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</div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"></span>You only have to look at the activity in and around
Charlton on a match day to see this in action.<span style="mso-spacerun: yes;">
</span>It’s clearly a bit more complicated than this but you get the general
idea. </div>
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<br /></div>
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By playing those games mentioned above on a weekend many more
away fans would attend.<span style="mso-spacerun: yes;"> </span>If we assume a
further 700 fans would attend those games and that they each spend £25 on a match
ticket, £30 on travel, £20 subsistence this gives a boost of £52,500 for each
game.<span style="mso-spacerun: yes;"> </span>Assuming each team across the four
leagues has six weekday games that are difficult to travel to over the season
then that gives us a total of about £28.35m over the season.<span style="mso-spacerun: yes;"> </span>The assumptions are rather simplistic (for
example many Premier League games are sold out regardless), and this is just a
first order effect for the clubs and that does not include the second effect stimulus
for the local economy but one can see that the figures are not insubstantial.</div>
<div class="MsoNormal">
<br /></div>
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It therefore also makes both commercial and economic sense
for the Football League to prioritise weekday fixtures such that more away fans can
attend.<span style="mso-spacerun: yes;"> </span>Given the need to generate additional tax revenue I'm surprised that no political party has yet put it in their manifesto.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Having said this I do appreciate that the busy season means
that it is not possible to avoid playing on weekday nights, and I personally
wouldn’t want to get rid of my fix of mid-week action under the spot lights.<span style="mso-spacerun: yes;"> </span>Tuesday nights are always going to be hard
for some given that children have to get up to go to school the next day and
our supporter base is spread over the South East.<span style="mso-spacerun: yes;"> </span>We also have to bear in mind the regular plea
for Boxing Day games to be held locally, given the work on the railways over
the festive season.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
However, we currently do have four reasonably local teams that
are within easy distance for a night game including Millwall, Brentford, Watford
and Fulham.<span style="mso-spacerun: yes;"> </span>The atmosphere, if not the
result, at Fulham away this season was electric.<span style="mso-spacerun: yes;">
</span>Furthermore other teams such as Brighton, Ipswich, Reading and even
Norwich can be reached reasonably by most in an evening.<span style="mso-spacerun: yes;"> </span>So it is possible to go some way to accommodating
this for many clubs.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
It won’t completely solve the issue but it will go a long
way to getting more away fans to games and boosting the economy and the
financial situation of our clubs.<span style="mso-spacerun: yes;"> </span>Here’s
hoping for a bout of common sense, and don’t forget, each time you attend a
match you are assisting the economy!</div>
Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-15250882628429954742015-04-13T10:59:00.000-07:002015-04-14T06:44:44.431-07:00Charlton Athletic: Player of the Season<!--[if gte mso 9]><xml>
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Nominations are open for player of the year are currently
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<br /></div>
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There are plenty of contenders including new arrivals such
as Tony Watt, stalwarts such as Stephen Henderson and Tal Ben Haim, to a trio
of academy players that have broken into the first team including Joe Gomez and
Jordan Cousins.<span style="mso-spacerun: yes;"> </span>They all have their
merits, but for me there is only one player that makes the grade and that
player is Johann Berg Gudmundsson.</div>
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<br /></div>
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Having made 40 starting line ups and 4 substitute
appearances (pre-Bolton) he has been consistently selected by both Bob Peeters
and Guy Luzon.<span style="mso-spacerun: yes;"> </span>A natural right winger he
has often swapped sides with Frederick Bulot during periods of the game and in
my mind would make a good makeshift striker.<span style="mso-spacerun: yes;">
</span>His work rate on the pitch is second to none.</div>
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<br /></div>
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He is a consistent goal scorer, having notched up as many
goals as Vetokele this season, 11 in all competitions and is much improved
compared to the 13 at his former side AZ Alkmaar over four seasons.</div>
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expectation that he would deliver the goals, but we picked him Gudmundsson on a
free transfer (thanks I understand to the scouting of Karel Fraeye, Jose Riga’s
former assistant) which makes him a bargain signing.</div>
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<br /></div>
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See here for a selection of Johann’s goals this season:-</div>
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<a href="https://www.youtube.com/watch?v=kPmYB9VcW9Y">www.youtube.com/watch?v=kPmYB9VcW9Y</a></div>
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<br /></div>
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Admittedly one man doesn’t make a team and Chris Solly has
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pacey wing man to create shooting space.</div>
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<br /></div>
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His scoring also comes from a variety of situations.<span style="mso-spacerun: yes;"> </span>A specialist from free kicks he is also a
solid penalty taker when Yoni Buyens is not available, but also has the
confidence to hit accurate balls from a distance in free play, resulting in some
stunning goals from his trusted left foot over the season.<span style="mso-spacerun: yes;"> </span>This reliance on the left foot is perhaps also
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So for these reasons, Johann gets my vote.<span style="mso-spacerun: yes;"> </span>In the meantime, with rumours of interest
from Premier League teams, I just hope that summer contract talks will open
soon and we don’t see him going away like last year’s player of the year! Oh,
and isn’t it time we had a song for our Icelandic International?</div>
Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-10684048010395955242015-04-08T07:47:00.001-07:002015-04-08T07:47:25.887-07:00Deptford Pub Walkabout<!--[if gte mso 9]><xml>
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You may remember many moons ago that I wrote a piece on a pub crawl from Charlton to Greenwich</div>
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(Link here <a href="http://wrongsideofthethames.blogspot.co.uk/2013/08/charlton-to-greenwich-pub-crawl.html">wrongsideofthethames.blogspot.co.uk/2013/08/charlton-to-greenwich-pub-crawl.html</a>).</div>
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Since then I’ve done a few more of these and it was fellow
Charlton blogger Hungry Ted who suggested that I should put pen to paper to
share these with you.</div>
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The introduction of the pedestrian bridge over Deptford Creek
means that there is now a pleasant walk west from the Greenwich foot tunnel along
the Thames rather than walking along Creek Road. The river side is all built up with modern high rise flats but the view down the Thames is still spectacular and you can take in the statue
of Peter the Great (Glaisher Street) a one time resident of Deptford, on the way. </div>
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As you follow the path away from the Thames around a huge tract of land that was once Convoys Wharf you come to the Dog & Bell on Prince Street. This is a quiet unassuming pub untouched by the need to
gentrify or attract the hipster crowd, tucked away down a quiet side street
away from the hustle and bustle of Deptford High Street.</div>
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The bar billiard table in the corner is a
rare sight in pubs these days as was the lack of music which encourages good conversation.<span style="mso-spacerun: yes;"> </span>On our
walk we noticed the tell tale signs of number of former pubs nearby and this is
the last surviving pub in the area that served the dockers from the massive but
now mostly derelict Convoys Wharf.
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It survives as an independent real ale pub and the walls
bear witness to this with certificates for pub of the year from the local CAMRA
group amongst others. They always have four or five guest real ales there and the
few times I’ve been the beers have always been new to me.<span style="mso-spacerun: yes;"> </span>We plumped for a pint of Gravesend Shrimper,
a best bitter from Loddon Brewery.
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It's then a short walk down <span style="mso-spacerun: yes;"> </span>Deptford High Street to the Job Centre (<a href="http://jobcentredeptford.com/">jobcentredeptford.com</a>)and the
contrast could not be more different.<span style="mso-spacerun: yes;"> </span>This is part of the Antic pub group and as appears to be the trend with Antic pubs the place looks
like it is part way through a refit but to be honest I don’t really care as
long as the beer and atmosphere is up to scratch. The music is loud and the beard count in the double figures but they do serve a good pint. There are approximately five ales on cask and many more on tap again with a nod to London beers. The London Fields' Hackney Hopster was pouring particularly well that night served in the hipster's vessel of choice, the toby mug.</div>
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They currently have a kitchen hijack where every weekend the
latest street food merchant runs the kitchen.<span style="mso-spacerun: yes;"> </span>On our visit
it was the turn of Prairie Fire BBQ (slow cooked meat smoked the Kansas City
way), and jolly good it looked but we were there for the beer.</div>
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The trip back to Greenwich took us along Creek Road and past
the Duke (<a href="http://www.thedukedeptford.com/">www.thedukedeptford.com</a>) a more modern pub run by the Inn Public group but still retaining that local bar feeling.<span style="mso-spacerun: yes;"> It </span>has two cask ales which change
frequently.<span style="mso-spacerun: yes;"> </span>The offerings on the night were Sothwark Brewings LPA and
Truman’s Zypher, both well kept and well served. The Duke has music most nights but is spacious enough that you can still avoid the music and have a good conversation if you want a quieter evening.</div>
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Creek Road takes you back into Greenwich where the Lord Hood, a truly local pub, is often overlooked but serves a decent pint of Gypsy Hill Brewing's South Paw as its regular bitter. There has been an ongoing development battle surrounding the Lord Hood and its not clear how long this local will last so you should visit while you have the chance.</div>
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In all, four decent pubs all offering something different and a reasonable three mile walk (including the trip through the foot tunnel back to the Isle of Dogs) which will burn of roughly a pint and a half of those beer filled calories.</div>
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Don't forget that SE London CAMRA hold the second Kidbrooke Beer Festival at the end of April. More news on this event at the following link <a href="http://wrongsideofthethames.blogspot.co.uk/2015/03/a-few-local-beer-festivals.html">wrongsideofthethames.blogspot.co.uk/2015/03/a-few-local-beer-festivals.html</a></div>
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Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-1934967134752203452015-03-11T07:18:00.000-07:002015-03-11T07:23:49.107-07:00A Few Local Beer Festivals<br />
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<img alt="" class=" left" src="http://www.northlondon.camra.org.uk/images/large/00/30/3066.jpg" height="320" title="" width="226" /> </div>
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The majority of Charlton fans I know also have good taste when it comes to their choice of libation so I thought it worth giving a short plug for two local beer & cider festivals taking place in and around London.<br />
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The first, which is currently taking place is the London Drinker festival. Over half of the real ales on tap are from London breweries, although there is also a good selection of casks and bottles from overseas too. Full details and a list of beers can be found here :-<br />
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<a href="http://www.northlondon.camra.org.uk/viewnode.php?id=772">www.northlondon.camra.org.uk/viewnode.php?id=772</a><br />
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<a href="http://sel.camra.org.uk/wp-content/uploads/save-the-date-2015-KBCFest.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="http://sel.camra.org.uk/wp-content/uploads/save-the-date-2015-KBCFest.jpg" height="320" width="320" /></a><br />
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The second is the Kidbrooke Beer and Cider Festival which takes place from 30 April to 2 May this year. I went to last year's inaugural event with a group from the sadly now closed Old Loyal Britons pub in Greenwich. It's too early for the beer line up to be announced but there were some cracking pints at last year's festival.<br />
<a href="http://sel.camra.org.uk/kidbrooke-beer-cider-festival">http://sel.camra.org.uk/diary/festivals/</a><br />
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It would be good to see some of you there to support this local event and secure its place on the beer festival calendar. <br />
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<br />Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-59326903691362432232015-02-20T07:17:00.001-08:002015-02-20T08:13:13.830-08:00Charlton Athletic Finances for 2013-14 Season<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
Charlton’s holding company published its accounts today for
the year ending June 2014 (i.e. last season) and I thought it might be useful
to fellow supporters to highlight a few key metrics.<span style="mso-spacerun: yes;"> </span>Certain figures are rounded for ease of use.<span style="mso-spacerun: yes;"> </span></div>
<span style="mso-spacerun: yes;"></span><br />
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Turnover was up by £829k mainly due to an increase in match
day revenue (this is prior to the new catering which was awarded in July 2014),
despite a fall of roughly 2,000 in match day crowds to just over 16,000. This
bodes well for the future if they can get the crowds through the doors but
shows the importance of attendances at Championship level, especially as it is
larger slice of revenue than central income from the Football League and Premier
League.<span style="mso-spacerun: yes;"> </span>However, judging from the announced
gates I expect roughly the same or slightly less for the current season*.</div>
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<br /></div>
<div class="MsoNormal">
<span style="mso-spacerun: yes;"> </span>Expenses were pretty
much in line (baring a few exceptional costs such as the hired pitch cover) with
last year resulting in a loss of £5.9m on par with the prior year. Employee costs are 88% of turnover (mainly football players).</div>
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<br /></div>
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On the balance sheet there was a net increase in intangible
assets (football players to you and me) of £3.3m on the books (representing the net cost of players amortised over the life of their contracts) and a reduction in short
term creditors (which appear to be the banks).<span style="mso-spacerun: yes;">
</span>This together with the loss for the year has been financed through approximately
£10m of loans from Staprix NV, Duchâtelet’s holding company. <span style="mso-spacerun: yes;"> </span>It looks like the bank loans will all be
replaced with Staprix funding by December 2015.</div>
<div class="MsoNormal">
<br /></div>
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There is no mention of compliance with Financial Fair Play but
the club is comfortably within the £8m loss for the season allowed under the
rules for the season. </div>
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<br /></div>
<div class="MsoNormal">
With respect to players Charlton spent £4.4m on additions to
the squad.<span style="mso-spacerun: yes;"> </span>The majority of this will be
for the acquisition of Vetokele but payments were also made in respect of
Parzyszek, Nego and Goochannejhad.</div>
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This was partially offset by a profit (which for the avoidance of doubt is not the same as the fee received)
of £1.7m on the sale of Stephens, Kermorgant, Button and Smith plus an amount
from the on sale of Shelvey by Liverpool to Swansea.</div>
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<br /></div>
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Post the year end loan fees and sales of players generated
income of approximately £900,000 although how much of this goes to clubs within
the Duchâtelet empire we don’t know.<span style="mso-spacerun: yes;">
</span>Most of this will be on player movements in the summer.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Interestingly, like the Shelvey fee, the club has increased
its use of contingent fees on players it has sold , the figure now standing at £4.17m
(up from £3m).<span style="mso-spacerun: yes;"> </span>While this income is
uncertain it does allow the club to make sure it does not lose out on proper
fees for the development of players that go on to excel.</div>
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<br /></div>
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One thing that did make me think is whether the use of
players (and now managers) in the network is making the accounts trickier to decipher
on a standalone basis, given the use of loan and transfer fees between clubs to
transfer money around the network.<span style="mso-spacerun: yes;"> </span>I’m
not in any way implying any impropriety, in fact it makes perfect commercial
sense for the network as whole, just that it may not necessarily give a
complete picture on the profitability of the club as a stand alone entity.<br />
<br />
______________________<br />
*update. It has been pointed out that this was in part due to the club's good FA cup run that season. Clearly our early exit this season will have an impact on match day revenue. <br />
</div>
Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-65701738724584061822015-02-17T03:57:00.001-08:002015-02-17T03:57:52.113-08:00Charlton Athletic: Don't Just Sit on the FenceNews reaches us that the Charlton Athletic Supporters Trust are to hold a public meeting about the direction of our club Charlton Athletic. A severe lack of honest engagement by the club with fans has left many of us disillusioned with how Charlton is being run and I'm pleased to see the Trust not sitting back on this.<br />
<br />
<br />
Whatever your views on the future of the club or its engagement with fans please do make an effort to attend the meeting to be held in Woolwich on Wednesday evening.<br />
<br />
Full details can be found here:-<br />
<br />
<a href="http://www.castrust.org/2015/02/public-meeting-format-process/">www.castrust.org/2015/02/public-meeting-format-process/</a><br />
<br />
If you can't attend the meeting then do take a couple of minutes to complete their survey:-<br />
<br />
<a href="http://www.surveymonkey.com/s/TrustPMsurvey">www.surveymonkey.com/s/TrustPMsurvey</a><br />
<br />
In other news, we were warned by the Standard Liege fans what would happen, so any one got in touch with the Lens supporters yet? <br />
<br />
<br />
<br />
<br />
<br />
Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com3tag:blogger.com,1999:blog-3820067196289891878.post-62165480187512397422014-07-15T00:50:00.000-07:002014-07-15T00:50:17.170-07:00Time to Blow Off the Cobwebs for Another Season<!--[if gte mso 9]><xml>
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While my blog has certainly not been updated over the last few months, with the exception of a brief hiatus at the end of last season, the goings on at Charlton have ensured that there has been no time for cobwebs to settle at the Valley. </div>
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Much has been said on the subject of the new owner and the
changes that took place at the end of last season.<span style="mso-spacerun: yes;"> </span>Over the summer we’ve witnessed a number of
changes that have started to put the owner’s intentions for the
club into force.<span style="mso-spacerun: yes;"> </span>Many believed that Charlton might become a cut price club, lacking in investment, with a head coach forced to field players sidelined by other clubs in the network. While some beneficial elements of using the network are there, this is looking far from the case as recent spending reveals quite a different approach. </div>
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While a new pitch was clearly a top priority it looks like we’ve ended up with a £1m investment in a pitch of Premier League
quality, with state of the art drainage and under soil heating.<span style="mso-spacerun: yes;"> </span>This along with other ground improvements such as replacement seating and pitch side astro turf will continue to make the Valley one of the more pleasant grounds for visitors in the Championship. While a pitch renovation was required, the rest of the
spending is perhaps more cosmetic but to me shows the intentions of the club to provide a quality match day experience for the fans. The only downside I can see came from Twitter where an apparent ban on high heels on the pitch side artificial turf has meant a wardrobe rethink for certain stylish members of staff.</div>
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I wasn't expecting much of a spending spree this summer so the signing of Ivor Vetekeleh for a fee believed to be around Eu3m was a surprise. However, I'm not expecting much more of the same and the recent signings while exciting have shown as much. Feedback on first impressions of Bob Peeters is that he is likeable and gets on well with the squad. I'm pleased to see his comments on certain players in the development squad and a decent complement of younger players turning out for the Welling game. Duchatelet has also committed the club to its youth policy<span style="mso-spacerun: yes;"> </span>with Charlton’s ambitious plans for the new
training ground complex to go ahead. Some might say this is just a good excuse to get a cheaper squad but no manager or coach will play academy players if they are simply not up to the job.
</div>
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Having said this it looks like player wages are being firmly capped. I have no idea as to what salaries players are on but we all remember the rumour of Ricardo Fuller being on
£13k a week.<span style="mso-spacerun: yes;"> </span>With Kermorgant and
Stephens who were arguably our top wager earners gone, the number of younger players coming up from the development
squad and cheaper (not my words) foreign players coming in I suspect that salaries
are around the £3,000 a week mark.<span style="mso-spacerun: yes;"> While this helps in terms of the bottom line it does mean the Charlton will be one of the lowest paying teams in the Championship. Other teams have not been so quick to adapt </span>and are likely to breach <span style="mso-spacerun: yes;">Financial Fair Play rules as a consequence but may have the talent to propel them into the Premier League. The alternative is that we become a club in a similar vein to Peterborough where they have a great ability in finding cheap but talented lower league footballers that subsequently leave for larger clubs who can afford to pay them higher salaries. The good news is that the transfer fees effectively pay for the upkeep of the club.</span></div>
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<span style="mso-spacerun: yes;"> </span>
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The recent run outs at the Philips Stayen Cup and at Welling gave
the fans a first chance to witness the players live but give us just a glimmer of new coach Bob Peeters thoughts on the first team line up. A couple of players were missing from the Welling line up though. While I presume that Reza is still enjoying a much deserved
holiday after his world cup campaign the<span style="font-family: inherit;">re was no sign of <span style="mso-ascii-theme-font: minor-latin; mso-bidi-font-family: "Times New Roman"; mso-bidi-theme-font: minor-bidi; mso-hansi-theme-font: minor-latin;">Piotr</span><span class="st"> Parzyszek (Belgium press reports him going to Sint Truiden) </span>The squa</span>d is not complete and clearly need more games under their belt, but there are rumours of another striker
coming in and there are a couple of other obvious holes in the squad that need
filling.<span style="mso-spacerun: yes;"> </span>However, I am sure we will see
a marked improvement as the July amd August friendlies go by and Peeters finds his ideal formation. The Welling game showed Solly and Wilson pushing forward deep in to the opposition territory if that offers any clue as to current thinking.</div>
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It is pleasing to see that the club has maintained certain standards by continuing its family policy of not allowing a gambling outfit to sponsor its kit but there is clearly a harder nosed attitude to making the
assets work for the club. Further sponsors on the mtach kit in addition to to the main shirt sponsor is an obvious
example of new revenue generation.<span style="mso-spacerun: yes;"> </span>It
appears that a full review of contracts and services has been undertaken and changes have
been made internally with director <span class="st">Katrien Meire taking a more
hands on role.</span><span style="mso-spacerun: yes;"> </span>
</div>
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Recent contracts with the same outsourced caterers used by Arsenal and Wembley show the shape of things to come, but we should not read this as bad news for fans.<span style="mso-spacerun: yes;"> The partnership with IT company ITRM clearly states that is to "</span>create better opportunities for fan engagement". We have had a recent glimpse of the intentions of the board with the introduction of the excellent Fan Wall on the Charlton website, the introduction of free broadband at the Valley and the free youtube streaming of the recent
tournament in Belgium. I see this as a long term drive for a better game day experience that should ultimately attract and keep fans.</div>
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On the subject of fan engagement, the summer so far has been especially annoying from the mindless and crude drivel posted by
those brave smartphone warriors claiming to be fans on various social media every time Charlton post an update. Calm down boys and girls, stay out of the sun and think before you tweet abuse. How about providing some constructive criticism or at least giving the players a chance in an Addicks shirt first before you burden the rest of us with your refined and experienced three word opinions? You could do something useful like joining the supporters trust www.castrust.org.</div>
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Of course the real test is when we start to play in the
league.<span style="mso-spacerun: yes;"> </span>While there are a number of
veterans in the squad, many players have not tasted Championship football and it
does remain to be seen whether they can cope at this level but with the spread of youth and experience I am cautiously
optimistic.<span style="mso-spacerun: yes;"> </span>That’s not to say that I’m expecting
miracles this year but it all looks like the club is starting to shape up for both
the financial rigours and the pitch battles of the Championship.</div>
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Just one small selfish plea from me - please can we have
proper pies back at the Valley?<span style="mso-spacerun: yes;"> </span>I’m sure
these nice people <a href="http://www.pieshop.co.uk/">www.pieshop.co.uk</a>
would be only too happy to assist.</div>
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Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com1tag:blogger.com,1999:blog-3820067196289891878.post-73281743643506226072014-04-30T05:43:00.000-07:002014-04-30T05:44:51.255-07:00Harriott Pushes Charlton over the Line<!--[if gte mso 9]><xml>
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<![endif]-->First may I extend my gratitude to Charlton Live commentator
Pete Finch for a quick behind the scenes tour of the press room and studio
before the game. It was good to meet Terry Smith, Paul Glover and match day
host Dave Lockwood in person, having followed them for sometime on twitter.<br />
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<tr><td class="tr-caption" style="text-align: center;">Valley Faithful</td></tr>
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<span style="mso-spacerun: yes;"></span>There were fist pumps all round the room as
Mr Lockwood confirmed the team news hot off the press with a 4-5-1 formation
with Solly and Wilson both playing down the right hand side. The omens were good and the game was better with three
excellent goals from open play to secure our Championship position for another year.</div>
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I was really pleased for Callum Harriott.<span style="mso-spacerun: yes;"> </span>Despite deserved criticism in recent games he
stepped up when it mattered.<span style="mso-spacerun: yes;"> </span>He knows he
hasn’t had the best of games at home recently (partly as a result of being
played out of position) and the two goals more than made up for it.<span style="mso-spacerun: yes;"> </span>He does tend to blow hot and cold and I put
it down in part to a lack of awareness of his surroundings leaving him
struggling at times when he has the ball.<span style="mso-spacerun: yes;">
</span>However, when he gets it right he plays some magnificent football,
witness the game at Sheffield Wednesday creating Sordell’s goals with some
sublime passing in difficult situations.</div>
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Troy Deeney’s goal for Watford was a corker and I wouldn’t
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chance of promotion they need to stop this cynical style of football that saw a
flurry of yellow cards and a sending off.</div>
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<tr><td class="tr-caption" style="text-align: center;">Captain Jackson applauds the Fans</td></tr>
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When our third goal went in my friend turned to me and said “well
you’re safe now” to which I replied “No, this is where Watford score a quick
goal and we have a white knuckle ride for the next 15 minutes”.<span style="mso-spacerun: yes;"> </span>As predicted the goal did go in shortly after,
but was thankfully disallowed by the assistant referee.</div>
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I bumped into the lads manning the “fan cam” after the game
and was asked if staying up had changed my mind about the new owner.<span style="mso-spacerun: yes;"> </span>My answer was that it is too early to tell
and we will have to see what the summer brings.<span style="mso-spacerun: yes;">
</span>Riga’s contract was just to the end of the season so we don’t even have
a head coach after the Blackpool game as things stand.<span style="mso-spacerun: yes;"> </span>Although I was sad to see Chris Powell go I
would be happy to see Riga’s services being retained.<span style="mso-spacerun: yes;"> </span>He seems to “get Charlton” and I do sense a
positive connection between him and the players, especially the academy players
coming through.<span style="mso-spacerun: yes;"> </span>He couldn’t have made this
clearer in his post match speech to the Valley faithful. </div>
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We also have a core of key players that are out of contract
including Ben Hamer, Dorian Dervite and Michael Morrison.<span style="mso-spacerun: yes;"> </span>Poyet too has not signed a contract yet
meaning we will get a paltry fee set by the Elite Player Performance Plan if he were to leave.<span style="mso-spacerun: yes;"> </span>With seven former academy players in action
it is clear that they will form the back bone of the squad in the new season
but we will have to see how the rest of the team shapes up during the summer.</div>
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Celebratory drinks were definitely in order and the latest
edition to the pumps at Old Loyal Britons in Greenwich, Truefit Brewing’s
Caldecote Amber Ale certainly fitted the bill nicely.</div>
<br />
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Here’s to another year in the Championship!</div>
Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-66850664984025142502014-04-28T06:29:00.003-07:002014-04-28T06:29:33.798-07:00Will it be a Toast to Celebrate or Tears in the Beer?<a href="http://selcamra.org.uk/wp-content/uploads/kidbrooke_festival_poster.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img alt="Kidbrooke Beer and Cider Festival Poster" border="0" class=" wp-image-4349 " src="http://selcamra.org.uk/wp-content/uploads/kidbrooke_festival_poster.jpg" style="width: 300px;" /></a>Hopefully Charlton's season will be sorted out for the better on Tuesday night when we play our game in hand and final home game of the season against Watford. <br />
<br />
Our form has been such that the outcome is exceedingly unpredictable but as all Addicks know, we're not in the habit of making life easy and I'm preparing to accept that it might go down to the wire in our season finale away at Blackpool, where both teams could be fighting for Championship survival. With Birmingham, Doncaster and Millwall also in the mix there are plenty of permutations to make it a nervy climax the the season.<br />
<br />
So for those of you not making the trip to the seaside for our last game can I plug the following local event that South East London CAMRA are putting on this coming weekend. Whichever way the results go you'll be in the right place to drown your sorrows or celebrate survival with some fine ales and ciders on tap.<br />
<br />
The link for those interested is below<br />
<br />
<a href="http://selcamra.org.uk/kidbrooke-beer-cider-festival/" target="_blank">selcamra.org.uk/kidbrooke-beer-cider-festival/</a><br />
<br />
I'm pleased to see that local brewer Hopstuff based in Woolwich is well represented with four of their ales on show and there are a number of other London and Kent breweries and cider makers on show. Having met a few of the local CAMRA members at Old Loyal Britons in Greenwich I know they are discerning lot and we shouldn't be disappointed with their selection of casks which can be found on their website.<br />
<br />
<br />
<span style="font-size: x-small;"><br /></span>
<span style="font-size: x-small;">Notes</span><br />
<span style="font-size: x-small;">The picture is a poster produced by South East London CAMRA to promote the festival so please do share around.</span>Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0tag:blogger.com,1999:blog-3820067196289891878.post-45373948991514486772014-04-02T08:11:00.002-07:002014-04-08T03:06:10.023-07:00Charlton Athletic Financial Results - a short analysisFirst a big thank you to all of those who read my previous blog piece on the profitability of Championship football Clubs. Having had a comfortable 200 or so hits to my previous blog pieces this received over 1200 hits. <br />
<br />
One of the omissions from that particular blog was the financial report of my own team Charlton Athletic which had not then been published. The accounts are now available and I thought I would provide a short overview for interested fans.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUT_bznGYwKx6X_lCGKQTNejGsq2KwQvq1yAeG7kD_5w0OdWzjaqPArUFlVksMNjg3YWYzc57b0hhYF8SLM_H_jGQsA0hnOcYzoTqO2WNahMQykbJs9Vk97tY5jyp6F_sJ0uVBJm9F-FDJ/s1600/IMG_2659%5B1%5D.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhUT_bznGYwKx6X_lCGKQTNejGsq2KwQvq1yAeG7kD_5w0OdWzjaqPArUFlVksMNjg3YWYzc57b0hhYF8SLM_H_jGQsA0hnOcYzoTqO2WNahMQykbJs9Vk97tY5jyp6F_sJ0uVBJm9F-FDJ/s1600/IMG_2659%5B1%5D.jpg" height="240" width="320" /></a></div>
These are the consolidated figures for the holding company Baton
2010 Ltd to the end of June 2013 and well before the takeover by Staprix NV, Duchatelet’s investment vehicle.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
The headline figure is a loss of £5.9m compared to £6.8m
last year.<span style="mso-spacerun: yes;"> </span>It looks like the club remains on course to continue to achieve
Financial Fair Play targets once we take into account that certain expenses are disallowed.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Turnover/Income increased <span style="mso-spacerun: yes;"> </span>by about £3m from <span style="mso-spacerun: yes;"> </span>TV and broadcasting as a result of the move to
the Championship and £0.5m from increased match day income.<span style="mso-spacerun: yes;"> </span>There was a dip in commercial income owing to the way the company makes money from the club shop etc following the “Nike” deal which now sees the club receive a percentage of sales as a
royalty, rather than account for sales in income and stock purchases in the cost line.<span style="mso-spacerun: yes;"> </span>The upshot of this is that on
an equivalent commercial income has actually risen slightly.</div>
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<br /></div>
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However, most of the increase in income was swallowed in salary costs which went
up by approximately £3m.<span style="mso-spacerun: yes;"> </span>Given that the
number of commercial and administration staff remained static I assume that this increase was down
to playing, training and football management which went up by 17.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Staff costs remain static at just over 100% of turnover which is
clearly unsustainable and something which we have seen the new board address
almost immediately much to the chagrin of many fans.<span style="mso-spacerun: yes;"> </span>The sale of our reputedly highest paid player
will go a small way to reducing this in the current financial year but I fear
that in order to meet a more acceptable level further unpalatable cuts will be
the order of the day, until both clubs players across the divisions realise that things will have to change.</div>
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<br /></div>
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The loss appears to have been funded by an increase in long
term loans from the parent company CAFC Holdings Ltd who also appear to have
funded the scheduled repayment of bank loans during the year.<span style="mso-spacerun: yes;"> </span>The accounts confirmed that this debt has now
been transferred to Staprix NV.<br />
<br />
However,
it appears that the interest free loans from previous directors remain in place,
to be repaid if and when Charlton return to the Premier League.<span style="mso-spacerun: yes;"> </span>There was speculation that that these might
be repaid on the sale of the club but there is no mention of this in the post
balance sheet events.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In other post balance sheet news, the club generated £570k
from player sales and contingency fees.<span style="mso-spacerun: yes;">
</span>I presume that most of this took place in the summer transfer window and
does not include the sale of Yann Kermorgant or Dale Stephens as they were both
sold after the accounts were signed off.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
As expected the accounts are prepared and signed off by the
auditors on a going concern basis with the parental support of Staprix NV.<span style="mso-spacerun: yes;"> </span>From my little knowledge of audited accounts I
believe that this means that as of 17 January 2014 (the day the accounts were
signed off), Staprix has agreed to support the company for at least a further year.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In other news it is clear that the board are committed to the
Youth Academy and intend on achieving Category 1 status in the Elite Player
Performance Plan as soon as possible.<span style="mso-spacerun: yes;"> </span>The
fact that the New Eltham site has now got the go ahead confirms the new owners intention
to honour this commitment which is good news for Charlton fans.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
So all in all, no big surprises. Despite what certain fans might think of them Jiminez and Slater kept the club alive and left it in a slightly better shape than when they bought it but more crucially they did find someone in time to be able to maintain and carry the club forward.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
So on we go to the current financial year. Again, Championship survival is key but other than that I don't expect any great surprises in the next lot of accounts. Turnover will roughly be in line with the figures above but with the lack of player purchases this season and the sale of a few prominent players losses may come down a little further, again hopefully in line with Financial Fair Play. </div>
.Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com1tag:blogger.com,1999:blog-3820067196289891878.post-77757477799354149982014-03-25T03:55:00.004-07:002014-03-25T04:09:25.496-07:00Is anyone making money out of Championship football ?<div class="MsoNormal" style="line-height: normal; margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: inherit;">Charlton Athletic's accounts (or more accurately its holding company Baton (2010) Ltd) for the year ending June 2013 are due for filing at Companies House by the end of March. </span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: inherit;">For a refresher on last year's results please take a look at the excellent analysis by New York Addick here</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://newyorkaddick.blogspot.co.uk/2013_01_01_archive.html">newyorkaddick.blogspot.co.uk/2013_01_01_archive.html</a></span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;">I'm not expecting any surprises as we know the previous owners were struggling to put any more money into the club and the transfer budget was severely constrained. It was however our first year back in the Championship after a record points season in League One so it will be interesting to see how revenues have fared since. The change in ownership falls in the current year and so will have no impact on the results but may well have allowed the auditors to sign off the company as a going concern.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: inherit;">With the advent of Financial Fair Play I thought we would take a look at how other teams in the Championship division have managed so far and see if we can draw any conclusions on how prepared we all are.</span></span></div>
<div class="MsoNormal" style="line-height: normal; margin-bottom: 12pt;">
<span style="font-size: small;"><span style="font-family: inherit;">First a word of caution on the figures. Most clubs appear to have financial year ends at the end of the football season in May/June 2013 but not all of them, so the periods may
not be directly comparable and in some cases the clubs (including Charlton) have
yet to publish their latest accounts. The figures quoted are usually the statutory profit/loss required under
companies law and do not directly translate into the profitability or otherwise
as determined under the FFP rules. For example costs relating to stadium
improvements or youth development are ignored for the purposes of FFP.
So the figures shown are not directly comparable but give a good indication of a club's ability to reach the FFP requirements.</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;">Finally, some clubs have a complex web of legal entities, for various reasons including tax efficiency and protecting assets such as the stadium. Just look at the Blackpool blog link below to
see a prime example. This understandably may cloud the headline figures that I have stated and the club may actually be in a far different position to those stated when taken as a whole.</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>AFC Bournemouth</b></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">AFC
Bournemouth lost £3.4m in the financial year ending July 2012 amid concerns
from auditors over the company's ability to continue trading. According to the BBC, the
figures highlight the importance of Russian co-owner Max Demin's involvement at
the Goldsands Stadium. The 2013 accounts are not due until April but I expect further losses of the same magnitude and injections in line with current FFP rules.</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.bbc.co.uk/sport/0/football/22612870" target="_blank">www.bbc.co.uk/sport/0/football/22612870</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Barnsley</b></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">Accounts
for Barnsley Football Club (2002) Ltd were filed in January and show</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">an increased profit of £1.9m after a small profit of £30,246 in the previous 12 months </span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.duedil.com/company/04573250/barnsley-football-club-2002-limited/financials">www.duedil.com/company/04573250/barnsley-football-club-2002-limited/financials</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">
</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Birmingham</b></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">The Birmingham City director Peter Pannu was paid nearly £1m in 2012-13, a year in
which the club lost £4m and sank into a perilous financial situation which
continues to threaten its solvency.</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.theguardian.com/football/2014/jan/09/birmingham-director-peter-pannu-paid-nearly-one-million-pounds">www.theguardian.com/football/2014/jan/09/birmingham-director-peter-pannu-paid-nearly-one-million-pounds</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Blackburn</b></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">£27m loss for 2013.</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.bbc.co.uk/sport/0/football/24533649">www.bbc.co.uk/sport/0/football/24533649</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Blackpool</b></span></span><br />
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</b>Blackpool Football Club Ltd pre-tax profit was down from
£16.1m to £5.9m. However, the finances are a little more complicated than this. for more information see the excellent blog piece from independent fan Measured Progress below</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"> <b>
</b></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.duedil.com/company/00048409/blackpool-football-club-limited-the/financials">www.duedil.com/company/00048409/blackpool-football-club-limited-the/financials</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://measuredprogress.co.uk/opinion/blackpool-fcs-1213-accounts-reviewed/">measuredprogress.co.uk/opinion/blackpool-fcs-1213-accounts-reviewed/</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Bolton</b></span></span></div>
<div class="MsoNormal" style="line-height: normal;">
<span style="font-size: small;"><span style="font-family: inherit;">Bolton
have announced they are £163.8m in debt after parent company Burnden Leisure
PLC released its figures for the year ending June 2013. The group made a loss of £50.7m,
which saw net debt rise from £136.5m</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.duedil.com/company/00335699/burnden-leisure-limited/financials">www.duedil.com/company/00335699/burnden-leisure-limited/financials</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.bbc.co.uk/sport/0/football/25559504" target="_blank">www.bbc.co.uk/sport/0/football/25559504</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Brighton</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><b>Operating loss: £14.7m </b>(up from £8.6m in 2011-12 accounts)</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.bbc.couk/sport/0/football/26055733">www.bbc.couk/sport/0/football/26055733</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Burnley</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">£7.8m loss to June 2013 </span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.burnleyfootballclub.com/documents/agm-2013-review-doc113-1174642pdf" target="_blank">www.burnleyfootballclub.com/documents/agm-2013-review-doc113-1174642.pdf</a></span></span><br />
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Charlton</b> <b>Athletic </b>(Baton (2010) Ltd) </span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">£6.8m loss to Jun 2012 no accounts published yet for 2013. The next accounts are due at companies house by the end of March.</span></span><br />
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Derby County</b></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">Derby’s
losses in the past two years have been £7.9m and £7.7m.</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">Their
figures for the year ending June 2013 were submitted at the beginning of this
month</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"> <a href="http://www.derbytelegraph.co.uk/Derby-County-tackling-constant-battle-Financial/story-20308658-detail/story.html#ixzz2wtqjNk9B" target="_blank">http://www.derbytelegraph.co.uk/Derby-County-tackling-constant-battle-Financial/story-20308658-detail/story.html#ixzz2wtqjNk9B</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Doncaster </b>(Patience Form Ltd)</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">Loss of £4.4m Jun 2013</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.duedil.com//company/03739676/patienceform-limited/financials">www.duedil.com//company/03739676/patienceform-limited/financials</a></span></span><br />
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Huddersfield</b></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">Overall total loss of £4m (2011/12: £5.7m) to May 2013</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.htafc.com/news/article/club-news-201213-accounts-1259060.aspx#lT0IvyZF5Zf4ygCD99" target="_blank">www.htafc.com/news/article/club-news-201213-accounts-1259060.aspx#lT0IvyZF5Zf4ygCD.99</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Ipswich</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">The Club is due to report a loss before tax of £9.8m
(2011-12 £16.0m loss) for the year to June 2013</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.itfc.co.uk/news/article/financial-highlights-2012-13-1217945.aspx#0yqaHJxHpIwVCko8.99" target="_blank">www.itfc.co.uk/news/article/financial-highlights-2012-13-1217945.aspx#0yqaHJxHpIwVCko899</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Leeds</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">At the time of writing, Leeds have not filed accounts for 2013 and they are due by the end of March. They appear to be losing £1m a month.</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.bbc.co.uk/sport/0/football/26717044">www.bbc.co.uk/sport/0/football/26717044</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Leicester</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">The Club recorded losses in the year to 31 May, 2013
of £34 million (2012: £29.7m).</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"> <a href="http://www.lcfc.com/news/article/040314-201213-financial-results-1395981.aspx#JJ5ZpqdSdXSR0Wa5.99" target="_blank">www.lcfc.com/news/article/040314-201213-financial-results-1395981.aspx#JJ5ZpqdSdXSR0Wa5.99</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Middlesbrough</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">Middlesbrough Football & Athletic Company (1986) Limited's accounts were filed at companies house on 21 March but I haven't seen any open press mention of them yet. Heavily reliant on Steve Gibson, they made a pre-tax loss of £13m in 2012. </span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.duedil.com/company/01947851/middlesbrough-football-and-athletic-company-1986-limited/financials">www.duedil.com/company/01947851/middlesbrough-football-and-athletic-company-1986-limited/financials</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Millwall</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">£6.2m loss to June 2013</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.millwallholdingsplc.co.uk/ReportsAccounts30June2013.pdf">www.millwallholdingsplc.co.uk/ReportsAccounts30June2013.pdf</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Nottingham Forest</b></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">Nottingham Forest made losses of £17.1 during the last financial year and had staff
costs of £21m.</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">Those
staff costs dwarfed the club's turnover of £14.4m during 2012/13.</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.nottinghampost.com/Nottingham-Forest-post-losses-17-1m/story-20764935-detail/story.html#ixzz2wtvKbbSa" target="_blank">www.nottinghampost.com/Nottingham-Forest-post-losses-17-1m/story-20764935-detail/storyhtml#ixzz2wtvKbbSa</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>QPR</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">Championship side Queens Park Rangers made a loss of over £65m in their
accounts for the year to May 2013.</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"> <a href="http://www.bbc.co.uk/sport/0/football/26468560">www.bbc.co.uk/sport/0/football/26468560</a></span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;"><b>Reading</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">The Championship side posted a loss before tax of £2.3m in the year to 30 June
2013, down from £11.7m a year earlier. Operating loss was also cut from £21.8m
to £2.9m.</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.insidermedia.com/insider/south-east/107329-reading-fc-slash-annual-losses">www.insidermedia.com/insider/south-east/107329-reading-fc-slash-annual-losses</a>?</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Sheffield Wednesday</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">Loss of £3.7m to May 13</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.swfc.co.uk/documents/swfc-reportsandfinancialstatements138-1385743.pdf" target="_blank">http://www.swfc.co.uk/documents/swfc-reportsandfinancialstatements138-1385743.pdf</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Watford</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">£200k profit after player trading (loss of £1.7m)</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.watfordfc.com/documents/13118-2013-report-and-financial-statements286-1181336.pdf">www.watfordfc.com/documents/13118-2013-report-and-financial-statements286-1181336.pdf</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Wigan</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">Financial results for the year ending 31 May 2013 show the Championship side
made a net profit of £822,000 compared with £4.3m net profit in 2012. (won FA
cup)</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www1.skysports.com/news/12040/9095431/" target="_blank">http://www1.skysports.com/news/12040/9095431/</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Yeovil</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">Yeovil announced a trading profit of £50k for 2012. Their accounts have been filed for 2013 but it looks like they have a filing exemption so I can't find a freely available profit figure. From the balance sheet of Yeovil Town Holdings company it looks like profits were pretty flat and so I'm guessing that they have broken even. A connected company Yeovil Town Fc Centre of Excellence Limited suffered a small loss in net assets.</span></span><br />
<br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.duedil.com/company/07113379/yeovil-town-holdings-limited/financials">www.duedil.com/company/07113379/yeovil-town-holdings-limited/financials</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.duedil.com/company/06948893/yeovil-town-fc-centre-of-excellence-limited/financials">www.duedil.com/company/06948893/yeovil-town-fc-centre-of-excellence-limited/financials</a></span></span> <br />
<span style="font-size: small;"><span style="font-family: inherit;"><a href="http://www.ytfc.net/news/article/profits140313-712726.aspx">www.ytfc.net/news/article/profits140313-712726.aspx</a></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;"><b>Conclusion</b></span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;">Based on the above one wonders why anyone would own a football club.
However, this aside it seems clear to me that the Championship can be divided
into three broad categories.</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;">There are those that have spent to win promotion. These fall into two sub divisions; clubs such as Brighton and Leicester hoping to go up, and secondly those recent former Premier League teams such as Blackburn and QPR with legacy financial positions fighting to get back. I suspect any fines for FFP breaches for newly promoted clubs will be fairly small compared to the potential riches
of the Premier League, but penalties could be crushing for those that gamble and fail to reach the top echelons. </span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">It will be interesting to see whether the clubs that go up roll the dice once more and spend big to ensure continued top tier playing time or remain fairly prudent in terms of financial outlay, comforted by the fact that they have a financial cushion to survive on should they go down. I suspect that most clubs automatically have relegation clauses in their player contracts by now.</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;">Secondly there are a small number of clubs that have had to do this out of necessity, never
mind fair play. They have not had the sugar daddies to bank role them but
have managed their resources carefully. I include Barnsley, Yeovil, Watford, Wigan and maybe Blackpool (its hard to decipher the true figures) in this.</span></span><br />
<span style="font-size: small;"><span style="font-family: inherit;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: inherit;">The remaining clubs, including Sheffield Wednesday, Reading, Charlton and Millwall are slowly reigning in the losses but are comfortably within the confines of FFP. It is clear that there is still work to be done and it will take a few years as player contracts come up for renegotiation but they will get there in the end.</span></span></div>
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<span style="font-size: small;"><span style="font-family: inherit;">It is noticeable that broadly, with the exception of Wigan and Reading, all
the teams that are breaking even or safely within the bounds of FFP are
at the wrong end of the table. I am an advocate of Financial Fair Play. It's clear from the above figures that this level of spending is not sustainable. I fear that if the current legal challenge to FFP does succeed then the playing field will become even less level and/or we will see a number of clubs going to the wall as certain owners get tired of their "toys" as they fail to reach promotion and discard them.</span></span></div>
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<span style="font-size: x-small;"><u>Footnotes</u></span></div>
<div class="MsoNormal">
<span style="font-size: x-small;">Please let me know of any errors and I will happily
correct and acknowledge. Similarly if
you can fill in the gaps for certain teams I’d be extremely grateful</span>.</div>
Wrong side of the Thameshttp://www.blogger.com/profile/09118042579793627848noreply@blogger.com0