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 Posted by ESPN Staff
Feb, 9, 2009

Struggling Charlton dismiss administration fears

Charlton Athletic chairman Richard Murray has denied the struggling Championship club are in danger of going into administration.

The Addicks, £21m in debt and 10 points from safety at the bottom of the table, have had their overdraft facility withdrawn by HSBC, but Murray has refuted reports they could be placed in administration next month.

Murray said: ''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.

''We have been told by our bankers that our overdraft facility has been withdrawn, which is the same for a good many other clubs in these crazy, crazy financial times.''

Murray added: ''We're £21m in debt but of that figure, £15m is owed to directors which leaves the debt at £6m.

''Clubs all over the country, including many in the Premier League, are experiencing serious difficulties. Some are going public, others are not.''

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