Charlton Athletic Football Club has disclosed it suffered a significant cyberattack last August that resulted in the loss of crucial financial data, complicating the release of its latest accounts which show a £14 million loss for the 2023-24 season.
The club confirmed the incident, a ransomware attack targeting its legacy accounting system, occurred on August 6, 2024, the BBC reported.
According to a disclaimer included in the accounts filed at Companies House, the attack “wiped significant financial data” which became unavailable. This legacy system had reportedly been in use since October 31, 2023.
While the club stated that the final financial impact of the breach was covered by its insurance policy, the attack caused broader disruption.
“While the direct financial impact was mitigated, the attack also disrupted other areas of activity including the financial records of the business,” the report noted.
The revelation adds context to the club’s challenging financial performance for the year ending June 2024.
The £14 million loss represents a significant 48% increase from the deficit reported in the previous year. Club revenue also experienced a downturn, falling by almost exactly £1 million, from £9.8 million to £8.81 million.
The necessary disclaimer highlights the difficulties faced in presenting a complete financial picture due to the data loss from the cyberattack.
This period marked a time of significant transition for the south-east London club, which competes in EFL League One, the third tier of English football.
SE7 Partners, led by former Sunderland director Charlie Methven, finalised their takeover from previous owner Thomas Sandgaard in July 2023.
On the pitch, the 2023-24 season saw Charlton finish 16th in League One after manager Michael Appleton was replaced by Nathan Jones in February 2024.
Despite the reported historical financial challenges and the disruption from the cyberattack, the Addicks are currently performing well in the 2024-25 season. As of now, they sit fifth in the League One table. With five games remaining, the team requires nine points to guarantee themselves a spot in the promotion play-offs.
Charlton Athletic, founded in 1905, is based at The Valley stadium, their home since 1919.
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