Business Directory

Browse the Directory

Sign Up to the Directory

FC Business Twitter
FC business Linked in
FC Business facebook
FC Business Youtube

Bristol City FC announce losses of 11m

Thu 4th Nov 2010 | Money & Finance

Bristol City Football Club has announced losses of over £11m in its latest financial statement released today. The figures audited to the year ending 31st May 2010 show a significant rise in losses from the previous financial year of more than £5m.

In the report Chairman, Steve Lansdown wrote:  "The results for the year ended 31st May 2010 reflect the difficulties we have encountered as we seek to establish Bristol City as a major football club.

"The loss for the year of £11,808,085 reflects the investment made in the playing squad, management structure, training ground and stadium developments”.

The club hopes to become one of the host venues should England win the right to host the World Cup in 2018 and are pinning their hopes on a new stadium at Ashton Vale.

"The delays to our stadium project have not helped our position either” Lansdown continued.

“By now we had hoped we would have started the construction phase and been able to draw down on the facility we have arranged for this purpose. Certain fees have been incurred by the group pending construction and should be recoverable against the project when it gets underway, which will help our cashflow. However, until there is certainty over the project it would be wrong of us to draw any funds down”.

The results do not make good reading and fans will be quite rightly worried at the significant increase in losses over the last year.

But Lansdown remains bullish: "In the short term the support of the board will see the club through these difficult times; in the longer term, however, it needs to increase its turnover and control its costs.

“The building of the new stadium is an important part of this as well as success on the pitch, and you can be assured that the Board as well as the staff, whom once again I thank for all their hard work over the past year, will be working tirelessly to achieve this.

"Of equal importance is the backing of our supporters. We need fans coming through the turnstiles, not just from a revenue point of view, but also to ensure the team receives vociferous and passionate support on the pitch, especially in difficult times."





If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

Add to: Google Google | Yahoo Yahoo | Live Live | del.icio.us del.icio | Digg Digg |

Related Articles

West Ham United launch shirt auction in aid of Mexican earthquake relief

Fri 22nd Sep 2017 | Money & Finance

West Ham United will auction all match-worn shirts from this weekend’s London derby against Tottenham Hotspur , with all proceeds going to the victims’ families and survivors of this...

Stoke City success bringing benefits to region

Fri 22nd Sep 2017 | Money & Finance

Premier League football brought £130m to Stoke region and employed 2,200 people in one season, an EY study finds. The chance to play in the Premier League not only brings joy to fans of a club...

Manchester United Post Record Revenue Of 581m

Thu 21st Sep 2017 | Money & Finance

Manchester United has followed a successful year on the pitch with a successful year in business posting record revenues for the year ending 30 th June 2017. In a season which saw the club, under the...

30 September: the other deadline day

Mon 18th Sep 2017 | Money & Finance

As of 30 September 2017, all football clubs, sports agencies and their intermediaries will fall within the remit of the Criminal Finances Act. Through this Act, criminal sanctions can be imposed on...