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Parkinson had spent less than any other manager on purchasing players since Lennie Lawrence in the 1980s and was able to maintain a top six status despite only having the opportunity to bring in lower level players on loan.
The new owners decided to remove both Parkinson and Charlton legend Mark Kinsella after a poor run of results, intending to replace them with an as yet unknown team.
Another Charlton legend, Chris Powell was appointed manager of the club in January, winning his first game in charge 2 – 0 over Plymouth at the Valley, Charlton's first win since November.
Powell's bright start continued with a further three victories, before running into a dreadful downturn which saw the club go 11 games in succession without a win.
The club's fortunes picked up towards the end of the season, but leaving them far short of the playoffs.
In a busy summer, Powell brought in 19 new players and after a successful season, on 14 April 2012, Charlton Athletic won promotion back to the Championship with a 1 – 0 away win at Carlisle United.
A week later, on 21 April 2012, they were confirmed as Champions after a 2 – 1 home win over Wycombe Wanderers.
Charlton then lifted the League One trophy on 5 May 2012, having been in the top position since 15 September 2011, and after recording a 3 – 2 victory over Hartlepool United, recorded their highest ever league points score of 101, the highest in any professional European league that year.
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