In the upcoming final release of the Charlton Fanzine for this season, Voice of the Valley, Fanzine Editor, Rick Everitt reveals, the true debt and interest figures Charlton owe their parent company, Staprix.
In the latest annual release of the club’s financial books, it was clear that Charlton no longer owed the banks any money, which was a debt the club had accumulated under the previous ownership. However, the Addicks have now accumulated another set of debt, which is possibly the largest debt the Southeast London outfit has ever accumulated in its 112-year history.
According to Rick Everitt, Charlton Athletic owe Duchatelet’s company Staprix £54m with interest of £1.37m charged for the year.
Total debt to Duchatelet's Staprix from #cafc parent company was £54m, with interest of £1.37m charged for the year.
— Rick Everitt (@airmanbrown) April 7, 2017
When compared with Charlton’s UK holding company in 2010 under the previous ownership, Baton, Duchatelet acquired £18.6m debt, with a £0.6m interest on that.
Baton 2010 (#cafc UK holding company) accounts disclose debt acquired at Duchatelet's 2014 takeover £18.6m. £0.6m 15/16 interest is on that.
— Rick Everitt (@airmanbrown) April 7, 2017
Therefore, since Roland Duchatelet purchased Charlton back in 2014, the club’s debt has increased by a number around £35m. It is true that the debt is no longer to a bank, but instead is in debt to Duchatelet’s company, Staprix.
Every investment which is made by Duchatelet, such as the pitch, buying players, salaries, are all loans, as the electronics mogul expects the club to balance its books and not always spend, which is a statement he expressed when first purchasing the club.
The total accumulation of Charlton’s debt to Staprix, including the interest, makes sense as to why Duchatelet was asking for a buying price of at least £55m for the League One side if he was going to sell.
Hopefully, he finally understands that the price he is looking for is simply unrealistic, and knows he has to cut his losses before he continues to leak more money.