Skip to main content

Bristol City losses up

It is not unusual for Championship clubs to make big losses as they seek the prestige and riches of the Premier League. Bristol City have published their 2017/18 accounts and losses have increased from £3.5m to £23.5m because of lower profits from player sales and higher wages. The wage bill was up £5m and player sales were down from £16.7m to £1.8m.

Fortunately, they have a generous benefactor in the shape of Guernsey resident Steve Lansdown who wants to put Bristol on the sporting map. He made his money from financial supermarket Hargreaves Lansdown which started as a very small venture and is now quoted on the Stock Exchange. [I am one of their clients and a very satisfied one].

His total commitment is £123m of which £65m is in interest free loans.

Bristol City made £600,000 from their cup run, a decent sum, but dwarfed by their losses.

Kieran Maguire of the Price of Football has tweeted: 'Bristol City parent Bristol City Holdings changes status from private to public company. Presently owned by Steve Lansdown’s Pula Sport in Guernsey. Could be widening ownership plan or could be nothing.'

Bristol City's holding company has published its results they are as grim as those for the football club itself. Losses were £24 million and total losses over last six years total £94 million showing that chasing the Premier League rainbow is expensive, comments Kieran Maguire.

Labels:

Comments

Post a Comment

Popular posts from this blog

It's no deal say Spurs insiders over Taiwanese takeover

Senior figures at Tottenham Hotspur insisted on Friday that they had not been informed of any deal to sell Daniel Levy’s stake in the club. A business group, Eight Sports Capital — which is said to include a billionaire Taiwanese financier — claimed that it had an agreement in place to buy a 24.99 per cent stake in ENIC, the club’s majority owners, from Levy, who owns 29.88 per cent. The Times has been told Ng Wing Fai and Brooklyn Earick form part of the group, having both been linked previously to potential takeovers of the Premier League club. The Taiwanese businessman, Richard Tsai, is also said to be part of the consortium. He is reportedly worth £7 billion.  Last year Earick, the former DJ and tech entrepreneur, was part of an attempted £4.5 billion takeover, which was “unequivocally rejected” by Spurs.  An ENIC spokesperson said: “We can confirm that neither ENIC nor THFC are aware of any sale by Daniel Levy’s Family Trust of its minority stake in ENIC, THFC’...
Post a Comment
Read more

Reports about Charlton sale exaggerated

Reports have appeared in The Guardian and elsewhere that Charlton has been put up for sale. Richard Cawley is an authoritative local journalist who runs a South London Sport substack site.  He reached out to the club yesterday evening to ask for comment on The Guardian’s article. Early indications from the club have been that nothing has changed since the story about them seeking investment, except that it is now a different company doing it. Charlton have since managed to consolidate their place in the Championship, avoiding an instant return to League One, with their women’s side promoted to the WSL, returning to the top flight for the first time since 2007, although staying there is likely to be costly. It would be counter-intuitive for owners Global Football Partners not to progress the club when looking for investment, that the focus remains on driving it forward, that their spend this summer is in line with long-term planning and will see an increase in wages spent on players...
Post a Comment
Read more

Hull City's 'strange' loan

When football finance guru Kieran Maguire seems flashing lights in a club's loan deal, I become concerned.  He is the leading football finance expert in the UK. Hull City have borrowed £55m against their stadium and training ground yet they should get £30m from the Premier League before long.  What is going on? https://www.bbc.co.uk/sport/football/articles/cpwel48y51do
Post a Comment
Read more