1. Log in now to remove adverts - no adverts at all to registered members!

An Early Build Up of Cash - £8.6m

Discussion in 'Bristol City' started by wizered, Dec 6, 2019.

  1. wizered

    wizered Ol' Mucker
    Staff Member

    Joined:
    Jan 25, 2011
    Messages:
    33,405
    Likes Received:
    5,983
    Bristol City receive early Christmas bonus of £8.6m to aid Championship promotion bid
    The Lansdowns have injected more money into the club with the January transfer window less than a month away.

    Bristol City’s owners have injected a further £8.65million into the club as The Robins battle for a first top six Championship finish in more than a decade.

    According to a filing posted on Thursday at Companies House, the cash was raised by a fresh issue of new shares, 8,650,000 in total, at £1 each. All the money was paid at the time of the issue, bringing the total amount raised via shares issues to more than £125m.

    Bristol City’s majority owners, husband and wife Steve and Maggie Lansdown, have proved benevolent owners over the years as they look to take the club to the Premier League.

    No details on the nature of the funds were used, although the last time Bristol City raised capital via a share issue - just over £10m on 31 May, the day the club’s financial year closed - the money was needed after Bristol City showed negative cash flows from day-to-day operations of more than £11m.

    The money could therefore be used to plug gaps in day-to-day operations or possibly pay for an instalment on a transfer.

    For profitability and sustainability purposes, owners injecting money in this way are able to provide up to £8m past initial losses greater than £5m, bringing the total losses acceptable under the EFL’s spending rules to £13m per season.

    Earlier this month, Bristol City declared a pre-tax profit of £11m for the 2018/19 season, thanks entirely to the more than £38m profit declared on player sales across the season.

    This was a vast improvement on the £25.3m loss suffered in 2017/18, entirely because the club was unable to make any real profits from transfers out.

    The EFL decrees that clubs are not able to lose more than £39m over a three-year monitoring period.

    Bristol City’s net debt as of the end of last season was pretty much unchanged year-on-year at £69m, including £50m of bank borrowings and a further £18.6m from Pula Sports to redevelop Ashton Gate.

    However, in September that was effectively written off by Steve Lansdown when it was converted into 71,352,347 shares to the nominal value of £1 detailed as a "capitalisation of loan by Bristol City Football Club to its parent company".

    https://www.bristolpost.co.uk/sport/football/bristol-city-receive-early-christmas-3613865
     
    #1
  2. wizered

    wizered Ol' Mucker
    Staff Member

    Joined:
    Jan 25, 2011
    Messages:
    33,405
    Likes Received:
    5,983
    Events and circumstances dear boy...:emoticon-0105-wink:
     
    #2
  3. Red Robin

    Red Robin Well-Known Member

    Joined:
    Jan 25, 2011
    Messages:
    15,242
    Likes Received:
    2,149
    Splashhhhhh the cash <party>:emoticon-0136-giggl
     
    #3
  4. Angelicnumber16

    Angelicnumber16 Well-Known Member

    Joined:
    Jan 25, 2011
    Messages:
    12,898
    Likes Received:
    3,030
    Spend it wisely if that's what it's been provided for.

    If so, it doesn't need to be spent on permanent signings at inflated prices but part of it could be used to pay the wages of a couple of high quality loanees to give us half a chance.
     
    #4
  5. johngalleyfan2

    johngalleyfan2 Well-Known Member

    Joined:
    Jan 25, 2011
    Messages:
    14,770
    Likes Received:
    943
    building up the equity is always a good way, they could also if they wished do a special share issue to fans … say season ticket holders .. say a hundred shares each at £1 redeemable in 7 years or at instigation of the club. Maybe give an additional 5% discount on ST …..
     
    #5
  6. johngalleyfan2

    johngalleyfan2 Well-Known Member

    Joined:
    Jan 25, 2011
    Messages:
    14,770
    Likes Received:
    943
    I did mention yesterday Chelsea might have a couple to loan out! … and today it was made easier as they can now splash the cash if they need to/ want to
     
    #6
  7. realred1952

    realred1952 Well-Known Member

    Joined:
    Oct 3, 2020
    Messages:
    7,614
    Likes Received:
    782
    less than a year ago club got £8.6 to spend in transfer window we were about to learn interest in "3 strikers" but JOSH was not part of that thinking around then ...no need to sell [ although contract dictated ] Smozzy was doing well at Peterbro, and wanted to buy ... deal could have been made with TONEY PART OF IT ... BUT that is hindsight along comes covid 19
     
    #7
  8. Supcon72

    Supcon72 Well-Known Member

    Joined:
    Jun 13, 2012
    Messages:
    8,311
    Likes Received:
    2,611
    Wait, what SL is giving big money to a manager who isn’t LJ... It can’t be so, Redprintt said so....
     
    #8
  9. Redprintt

    Redprintt Well-Known Member

    Joined:
    Jan 27, 2011
    Messages:
    6,761
    Likes Received:
    3,436
    Supcon, check the date.

    Hoist by your own petard.

    You are daft as a brush.
     
    #9
    Supcon72 likes this.
  10. Angelicnumber16

    Angelicnumber16 Well-Known Member

    Joined:
    Jan 25, 2011
    Messages:
    12,898
    Likes Received:
    3,030
    Why are people replying to such old threads ? <laugh>
     
    #10

  11. wizered

    wizered Ol' Mucker
    Staff Member

    Joined:
    Jan 25, 2011
    Messages:
    33,405
    Likes Received:
    5,983
    jgf2 last night, doing his research.:emoticon-0105-wink:
     
    #11
    Angelicnumber16 likes this.
  12. realred1952

    realred1952 Well-Known Member

    Joined:
    Oct 3, 2020
    Messages:
    7,614
    Likes Received:
    782
    there is some quite interesting posts and threads, opinions and comments. Had an hour spare as what I was working on had a delay whilst the chapter was perused by a professional hydro geologist for accuracy and comment, as a mere amateur I am challenging a thesis he did in 1979 ...... he agree's some of what i put forward could be so, defending his thesis by saying "in time things change" .... not ooops I was wrong!
     
    #12
  13. Redprintt

    Redprintt Well-Known Member

    Joined:
    Jan 27, 2011
    Messages:
    6,761
    Likes Received:
    3,436
    Fair play Supcon72 <applause>
     
    #13

Share This Page