CITY ANNOUNCE 2019-20 ACCOUNTS

https://www.bcfc.co.uk/news/city-announce-201920-accounts/

Pre-tax loss of £10.07m thats with selling players for 25 million!!

 

Rather than a BBC type tabloid headline, I've copied and pasted to show context to the article.
I imagine most clubs have taken a hit with the effects of Covid..




Bristol City have announced their accounts for the 2019-20 season and a large - but not unexpected - loss.

The Robins released a statement on Wednesday morning explaining that the latest accounts included a pre-tax loss of £10.07m.

However, that was always on the cards with COVID-19 affecting football over the last year and no crowds admitted to games.

City said that 'The loss for the year is within the expectations of the Board, reflecting the ongoing investment into the operations of the football club and wider operational infrastructure of the group, including investment in the new training facilities.'

CEO Mark Ashton explained that: “After making a profit for the first time in 2018/19 thanks to the sales of Joe Bryan, Aden Flint, Lloyd Kelly and Bobby Reid it was always going to be a more modest year.

“We traded well, especially with the moves of Adam Webster, Marlon Pack and Josh Brownhill and didn’t overstretch ourselves which has been key to making Bristol City a sustainable business

“We have had no matchday revenue from crowds since March 7 th last year so we are under no illusions that the results for this year will be very sobering and we will have to cut our cloth accordingly.

“Overall we are in a stable financial position, with a team competing at the top end of the Championship, and a new state of the art training ground opening in the Spring that will bring our first team and Academy together for the first time so we have a lot to look forward to.”

The club said that it made a profit on player disposals, ie, transfers and player trading, of £25.59m, which included the sale of Adam Webster to Brighton & Hove Albion, Marlon Pack to Cardiff City and Josh Brownhill to Burnley, while player purchases included Tomas Kalas from Chelsea, Daniel Bentley from Brentford and Ádám Nagy from Bologna.

 

WOW that is some read [ pages 14 to 44 ] 2 mugs of tea and 2 shortbread and 2 digestives …. to the majority on here we will simply have lost £10m, to those that understand accounts [ presentation ] the picture is not that bad. it would be foolhardy of me to attempt the reasoning, as accounts such as this are not simple to grasp. The headline banner "Bristol City announce £10.07m loss for 2019/20 after COVID-19 affected year" Will suffice to whet the appetites of most... it favours both the pessimist and realist view … the pessimist "not as bad as could be! " … realist " better than expected"

 

So in a stagnant market with covid shafting income and City not having that many players to sell teams will want beyond what was paid City could lose 30million plus, but the picture is not that bad!!!!

 

Think that goes for a lot of clubs, plus, sections of that has been towards training facilities etc...assets for the club..

 

the title is slightly misleading, as the accounting period for BCFC IS 01/06/** TO 31/05/** it affected 5 home games which were played outside the accounting period …. so 20/21 will reflect an additional 4 games of travelling expenses plus expenses for staging 5 home games. Misleading, as states a covid year when reality was affected was just 6 or 7 weeks of [38!] the end of financial year. 20 /21 will, unless a miracle, [ crowds go back for 4 weeks/5 games] will be a loss of £19m [based on 19/20 accounts and averaging ] ……
I heard one of the TV programme "pundits" actually latch on to my way of thinking … better to have "lower placed teams with a chance of picking up more round money than play MAN UTD and know that is it for the season, a drop in the ocean [ as to what might have been ] with a sell out crowd and TV money …..