Friday, November 18, 2011

Swiss Ramble

In life, it's sometimes important to simply accept that someone can do something much better than you can.

Despite writing numerous posts that attempt to address issues relating to Charlton's finances, this outstanding blog is a must-read for anyone interested in the topic.

Indeed his (or her) articles are always exceptionally well-researched, regardless of which club it relates to, and this one is no different.

It does not offer any predictions, but instead a rational and balanced assessment of the financial realities of being a former Premiership club in League One.

In my own lengthy article written in June, I sought to provide a more predictive assessment of where the club was headed (and why), and I'd like to think early evidence suggests I was not too far off the mark.

Not surprisingly the key conclusion of the Swiss Ramble piece is that the 2006/7 season was both a footballing and financial disaster (especially the latter).

Seeing the extent to which the net transfer spending rocketed in both an absolute and relative sense, is truly shocking when you stand back and look at it (as the analysis permits).

Whilst blame is often placed at Iain Dowie's door (he presumably chose the overvalued new players), I'm again strongly inclined to blame instead a catastrophic (and most out of character) misjudgment at Board level.

To describe it as a calculated gamble would be generous indeed. A calculated gamble (as opposed to a wild one) would not have required such a hefty price if it failed.

Going forward however it will become harder for any curious fan to receive much financial transparency as before, although the club remains a UK limited company and thus must still file accounts at Companies House. The accounts to 30 Jun 2011 remain unfiled for now.


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