Bristol City holding company announces "grim" financial losses It follows after the football club already posted losses Bristol City Holdings, the company that owns Bristol City, has published its financial results for the year. The company has posted losses of £24m for the last financial year, which ended in May 2018, meaning their total losses over the last six years now an eye-watering £94m - an amount football expert Kieran Maguire described as grim reading. It is largely in line with what was to be expected after the Robins themselves posted losses of £23.5m - up from £3.5m the previous year. please log in to view this image City's losses have left them 14th in the biggest loss-making clubs in the whole of England and Scotland - although they will be offset by the sales of Aden Flint, Bobby Reid and Joe Bryan over the summer, which fell outside of the last financial year. Bristol Live spoke to Maguire - lecturer at the University of Liverpool - to dissect the club's figures and discover what they actually mean for the future. Whilst Maguire says Robins fans should not be overly concerned with the results, it does show how reliant the club are on owner Steve Lansdown. https://www.bristolpost.co.uk/sport...ristol-city-holding-company-announces-2174850
Don't like putting this up but we've got to be honest with ourselves, £94m losses over 6 years, frightening. Although these figures will be offset by the sales of Aden Flint, Bobby Reid and Joe Bryan over the summer, which fell outside of the last financial year.
accounts and losses mean more than what is posted on the piece of paper... it takes into consideration capital losses and a whole host of other things and as is stated doesn't yet take into account the last lot of transfer dealings and like start up costs of the new stadium.. and it does say "BRISTOL CITY HOLDINGS" as opposed to BRISTOL CITY FOOTBALL CLUB ….BCFC is only a part of it ….maybe 35%?
Like the contributor to the article says, fans shouldn't be overly concerned by this as it doesn't give the full picture, such as not including this summers' player sales and the stadium/training facilities redevelopments. However, it should also highlight to fans how grateful they should be of SL's investments and understanding of the financial burdens of running a football club at this level, as well as the difficulties in balancing the spending on making the team competitive against sound financial management. Frankly, anyone who says the club is unambitious and that SL is 'clearly happy for us to just be a Championship club' is a moron and it's not as simple as saying 'oh, if I plow £100m of my own money into transfer fees/wages, then that will be enough for us to be promoted and I'll earn it back from the massive TV money/parachute payments'. The clubs long-term aim is and should be to not just be promoted but to get to the Premiership and stay there. The groundwork is being laid, and though it'll ultimately need to be the squad and management that will need to deliver on the field, the support from a well-run club and its infrastructure makes that all the more likely and sustainable.
DEFICIT ABOUT TO GET BIGGER …. SL plans on building a world class athletic stadium, and would like to integrate athletics training facilities with Rugby and FOOTBALL. It is rumoured he is likely to ask UB to be part of it, the way forward seems to be lightning wingers to fit in with our futuristic high speed approach to football ……….
I have no problems with running a deficit during formative years, but we need to determine what it is that we really want to be, or face higher losses that get us nowhere.
The shame of it all is that had we really gone for it back in 2008, we could now be an established Premiership side like a Burnley or a Bournemouth, or at least be a yo-yo club like WBA, Cardiff, Hull etc. Now, I'm not sure we will actually get there in my lifetime, or indeed ever. I can also see the top clubs in the land playing in a European or even world-wide league in the not too distant future. I was very surprised how much money (parachute payments aside) the owners of fellow Championship sides now have compared to us in a recent list that someone put up. Of course it's not all about money, but maybe at least the financial advantage we once had is now gone too ?
If you have £100m or £1,000m it wouldn't make much difference … apply football to the equation and you have a difference probably need something like £1,000m to £70,000m to be regarded as a "benefactor! " £1, 000m would probably generate £35m a year in a tax haven like CI..... IT IS NOT MUCH, about the same as MANU might expect as "pocket money from shirt sales!?" so SL does have to be careful!
Was it in 2008 when we had a great chance for automatic promotion but for some reason our wheels fell off and nobody knew how to remedy the issue? As far as the financial aspect goes I think we have run our race and will lose the ability to attract new players that we could possibly afford over the next few years. I never want wandering mercenaries down at Ashton Gate but unless we have options that may turn out to be our only way. It was stated yesterday by some footballing guru that the wealthy owners who have changed the face of English football for ever now face a challenge to offer new contracts to players like DeGea when they are already dishing out ridiculous monies for lazy sods like Sanchez. At some point someone needs to rein this ridiculous spending in, but as we all know money talks and bullshit walks, and unless they do the game as I love to remember it has gone forever and clubs like us will be forced to feed on scraps and other unacceptable bits and pieces. Beware the FFP.
