Big loss for Addicks

Charlton plc chairman Derek Chappell has revealed the Addicks made a net loss of £11.5million during the last financial year - and reiterated the main objective for the season is to secure Championship football.

Chappell made his first annual report - which covered the 12 months up to the end of June 2008 - since he stepped up to the position in March and admitted the failure to return to the Premier League at the first attempt had understandably had a big financial impact on the club.

Despite a significant reduction in operating overheads, plus profit from player sales of £3.4m, the company had an overall operating loss of £8.6m.

In the report, Chappell said: "Last season, and again this season so far, 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.

"Everyone connected with the football club remains determined to achieve this. We require full support for the team and its management and a united approach both on and off the pitch.
"Football clubs revolve around success on the pitch and ultimately this is essential for the continuing development of this football club."