Called to account

 The appearance of Charlton's accounts today give more cause for gloom. In spite of an upbeat report from the chairman (a great year apart from the results - football and financial) the disclosure of an 11.5m loss, declining income and an ever worsening liquidity position is not designed to lift the spirits. Full credit to the Board who have shown their commitment to the cause by stumping up 14.5m to help keep the clubs net cash flow in reasonable health. Fans' may criticise some of their decision-taking (eg on manager selection) but they surely cannot argue that their hearts are not in the right place. And it cannot be easy to keep smiling when even the auditors appeared to equivocate over whether we are a going concern. 

I have long since concluded that football is a bubble industry with ridiculous sums of money being spent on TV rights, transfer fees and player wages simply because of the market for subscription-broadcasting. With the economy in recession I think it may not be too long before the bubble bursts.  But if so I may find this part of the blogosphere is less pre-occupied with trivia.