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An attempt by mid-table Premiership club Charlton Athletic to take the club to the next level, UEFA Cup qualification, by spending on players has ended in no improvement in performances on the pitch and the club posting a big first half loss. The club recorded a net loss of £5.1m for the six months to 31 December 2005 compared with £1.68m in the same period in 2004. This outcome was achieved on stagnant turnover of £19.5m. The club's problems were compounded when its main sponsor, all:sports, went into administration in September. There is little prospect of recovering any outstanding money from the sponsorship deal. The club's turnover was predominantly earned from FA Premier League broadcast revenues and central sponsorship revenues which represented 53 per cent of the total revenues for the period. The loss does not place the club in any difficulty as it raised £5.5m in the summer through a share placement to directors and other shareholders. Whether this money was well spent is another matter with the departure of Danny Murphy to Spurs, the return of Alexei Smertin to Russia and the long-term injury to Gonzalo Sorondo. Discontented fans have claimed that the club has 'plateaued'. With five year season tickets coming to an end, the club has either held or reduced season ticket prices for next season, already the lowest in the Premiership.
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