Former Charlton striker Yann Kermorgant has described the owner's vision for the Championship club as "deluded".
The 34-year-old striker was sold to Bournemouth by the Addicks in January 2014, shortly after Belgian businessman Roland Duchatelet took over the club.
"I wanted to sign a new deal and stay longer at the club," Kermorgant said.
"In my first meeting with the new owners I found out things were completely different. They had a vision which, for me, was completely deluded."
Kermorgant, now at Reading, scored 32 goals in 96 appearances for Charlton between 2011 and 2014 and helped the Addicks win the League One title in 2012.
Charlton supporters have recently aimed protests at Duchatelet, with fans angry at how he runs the club, the turnover of managers at The Valley and the club's recruitment policy.
"I'm gutted," Kermorgant added. "I think they have wasted the club.
"They didn't know too much about football. I felt like they were wrong and they would be in trouble because football is different to business.
"It looked to me like their position was a bit weird."
The south-east London club are currently bottom of the Championship table, seven points from safety and with a goal difference of minus 34.
Charlton skipper Johnnie Jackson has said surviving relegation would be like winning a trophy, but Kermorgant is not so optimistic about his former club's chances of remaining in the second tier.
"Two years after I can see where they are and I think it was the right decision [to leave]," the Frenchman added.
"They are bottom of the league and I can't see them not being relegated at the end of the season.
"The club and the fans are great. It's a nice, family club and to see what they have done is very annoying."