Charlton Athletic confirmed yesterday (January 7th) that they suffered a significant net loss of £11.5 million for the financial year to June 30th, 2008.
The troubled Championship strugglers have been hit particularly hard by their failure to bounce back to the Premier League following their relegation at the end of the 2006/07 season.
Charlton plc chairman Derek Chappell explained in the club's annual report that performances on the pitch - which see the Addicks five points adrift at the bottom of the table - have to improve drastically.
He said: "Our football performances have simply not been at an acceptable level and this must change.
"Our main task now is to secure our place in the Championship through improved performances and success on the playing field during the remainder of this season."
Chappell added that everyone at the Valley is "determined" to turn the situation around through a "united approach both on and off the pitch".
Charlton's only major honour is their FA Cup victory of 1947, when they defeated Burnley 1-0 in the final at Wembley.
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21 October 2010
21 October 2010
21 October 2010
20 October 2010
20 October 2010
