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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.

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