Parker sale boosts Charlton profits

Charlton made a net profit of £11.1m (€16m) last year – due almost entirely to the sale of Scott Parker to Chelsea in January.

The annual report released to the Stock Exchange this morning for the 12-month period to June 20 2004 showed turnover increased to £42.6m (€61.3m) – a rise of 21% - and the club made an operating profit of £4.6m (€6.6m) but a net loss of £500,000 (€720,000) was incurred before player transfers were taken into account.

However, Parker’s controversial £10m (€14.4m) move to big-spending Chelsea made the figures look much healthier as player sales for the year accounted for an income of almost £11.7m (€16.8m).

The midfielder signed a new contract with the Addicks in the summer of 2003 but interest from Stamford Bridge in the January transfer window proved an unwanted distraction at The Valley and after much conjecture over his future he finally secured a move away.

The incident clearly left a sour taste in the mouth of chairman Richard Murray, although he admitted he felt the club got the best price possible the England international.

“There is no doubt that the loss of Scott Parker to Chelsea during the January 2004 transfer window and the manner in which he left us was hugely disruptive and a major disappointment to everyone connected with the club,” said Murray in his annual report.

“This is particularly so as he had signed a new five-year contract in the summer of 2003. In the circumstances, I believe the agreement negotiated with Chelsea was a fair one.”