Charlton Athletic Football Club (CAFC) has warned that it may have to cut as many as 25 jobs in preparation for the 2009-10 season as part of efforts to find widespread savings across the business.

Shareholders are also being asked to consider the selling off a number of the club's freehold assets to club directors, including training facilities in New Eltham and its youth academy, in a bid to raise £1.5m. The club faces a £10m reduction in revenue next season when a two-year period of parachute payments expires, following the Addicks' relegation from the Premier League in 2007.

Under the terms of the proposed transactions, which will be decided upon at a general meeting of shareholders on 15 April, the directors will lease back the facilities to CAFC for at least 25 years, with rental levels determined by standard market rates. Derek Chappell, CAFC chair, said: "The loss of the final parachute pament from the Premier League at the end of this season, along with our current situation of facing relegation from the Championship, will reduce our revenue by at least £10m.

"As a result of this substantial cut in income, the plc board is finalising its 2009-10 budget with a view to a dramatic reduction in the overall cost of running the business."