Charlton chairman Richard Murray has denied the club could go into administration.
Chairman says club will not go into administration
Charlton chairman Richard Murray has calmed any fears that the club are in danger of going into administration.
The Addicks are currently at the foot of the Championship table and have debts of £21million. Despite also having their overdraft facility withdrawn by HSBC, Murray has no fears of the club going under.
The chairman stated that Charlton's financial situation is not abnormal amongst football clubs in the current economic climate.
Debt
"First of all I don't know where these reports come from. So far as Charlton are concerned, the directors will keep supporting the club and nobody has talked administration," he said.
"We have been told by our bankers that our overdraft facility has been withdrawn, which is the same for a good many other clubs in these crazy, crazy financial times.
"We're £21million in debt but of that figure, £15million is owed to directors which leaves the debt at £6million.
"Clubs all over the country, including many in the Premier League, are experiencing serious difficulties. Some are going public, others are not."
