Skip to main content

Increased losses at Birmingham City

Kieran Maguire of the Price of Football has reported that Birmingham City Holdings in Hong Kong has published financial results for year to 30 June 2018. The UK numbers will differ as they are dependent upon the exchange rate used, and also the parent company owns a couple of other minor businesses.

Income was up 14% overall with double digit increases for matchday (11%) broadcast (12%) and commercial (17%). This gives a total of £19.9 million which compares to average of £29.8 million in 2017.

Costs rose significantly, most noticeable in relation to wages up 81% to £40.7 million. Birmingham paid out £202 in wages for every £100 of income in 2017/18. The wage bill in the Championship averaged £29.8 million in 2017.

Birmingham losses rose 168% to £43.6 million which explains why they were being closely monitored by the EFL for financial fair play purposes, which limit losses to £39m over three years.

The Blues spent £15.6 million on new players in 2017/18, a 34% increase on the previous season. Net spend was £13.5 million.

Labels:

Comments

  1. Bexhill-Blue4 October 2018 at 10:05

    How have this crew helped anyone? Has any club welcomed their interference? The 72 should call an EGM and close them down. Football owners are responsible for the clubs. The FFP just attack the fans. Go and go now

    ReplyDelete

Post a Comment

Popular posts from this blog

Fulham requires big funding from owner

After lengthy delays, Fulham’s shiny, new Riverside Stand has finally opened, creating “a unique Thameside destination with first class facilities for supporters and partners on match days, as well as for the wider community year-round”. This ambitious project has increased Craven Cottage’s capacity by around 4,000 to 29,600, while it has also taken advantage of the club’s fantastic location and wealthy catchment area by including two Michelin star restaurants, a rooftop swimming pool, corporate hospitality and event space, all benefiting from views of the Thames. Chief executive Alistair Mackintosh observed, “Fulham is the sort of club that can have a business class or first class and have fans that turn left on a plane.” Indeed, there is also an exclusive members club – with a football season ticket as an optional extra. It’s fair to say that “the times they are a-changing”, as this is a long way from the traditional pie and a pint. However, in a world where clubs face the tw...
Post a Comment
Read more

Threat of financial calamity removed from Baggies

West Bromwich Albion had effectively been in decline ever since the club was sold to a Chinese consortium in August 2016, paying a figure north of £200m to buy former owner Jeremy Peace’s stake. Controlling shareholder Guochuan Lai’s ownership was fairly disastrous for the club, but his unloved tenure finally came to an end after Bilkul Football WBA, a company ultimately owned by Florida-based entrepreneur Shilen Patel and his father Dr Kiran Patel, acquired an 87.8% shareholding in West Bromwich Albion Group Limited, the parent company of West Bromwich Albion Football Club. This change in ownership was urgently required, due to the numerous financial problems facing West Brom, including growing high-interest debt and serious cash flow concerns, following years of no investment from the former owner. Indeed, West Brom’s auditors had already rung the alarm bell in the 2021/22 accounts when they cast doubt on the club’s ability to continue as a going concern without making player s...
1 comment
Read more

A poor financial record, but new hope at Everton

I recently saw an amusing video online in which a group of Everton fans were rebuked in jest for being hopeful.  Football fans in general tend to swing between excessive optimism and excessive pessimism, but for many it seems that moaning is in their bloodstream (Spurs fans probably take the trophy).  However, Everton fans have had plenty to moan about on and off the pitch.   Let’s hope that a new era is about to begin for this grand old club. Everton’s 2023/24 financial results covered a fairly momentous season, when they ended up 15th in the Premier League, though they would finished three places higher if they had not received an 8-point deduction for breaching the Premier League’s Profitability and Sustainability Regulations (PSR). It was a worrying time for Everton fans, as the club faced a “perfect storm” of issues, including large financial losses, an ever increasing debt burden, a challenging stadium build and the tortuous sale of the club. There were eve...
Post a Comment
Read more