Charlton Athletic parent company makes £6.8m pre-tax loss for 2020-21 season
- Published
US-based Danish businessman Thomas Sandgaard is the owner, chief executive and sole director of Charlton Athletic
The parent company of League One side Charlton made a pre-tax loss of £6.8m for the 10 months to June 2021.
The period came at the end of one of the most turbulent times in the club's history, and a battle for ownership that ended up in the High Court.
Businessman Thomas Sandgaard eventually bought Charlton in September 2020.
But accounts show he gave an interest-free loan in excess of £10m to Clear Ocean Capital, the parent company of Charlton's men's and women's operation.
That came with the promise of more funds, and BBC Sport understands that figure is now nearer £20m.
Wage costs of £7.1m exceeded a turnover figure of £6.36m, although this was affected by matches being played behind closed doors, even if the club received £45,000 from the government as part of their furlough scheme.
The figures highlight the financial difficulties a club of Charlton's size have in breaking even from the third tier of the English game.
Charlton are in their sixth season out of seven in the third tier, something they have not experienced in almost a century.
Ben Garner's side are in 16th position, three points above the relegation zone.