Bristol City FC Announce Losses of Almost £40m for 2020/21 Following Pandemic

[Ericsladkilnhurst]

Bristol City FC announced a pre-tax loss of £38.4m for the 2020/21 financial year.

The clubs ticketing revenue falling by £4.1m on the previous year, after a season
decimated by covid.
Bristol City reported the sale of players, was down £19.4m, & nationwide lockdowns
also meant non-matchday revenue, generated from Ashton Gate was significantly
reduced.
Chief Executive Richard Gould reportedly said, " The club are very conscious of the
impact this loss will have on compliance, with the EFL's Profitability & Sustainability
rules, & we continue to work through this, including the dispensation for losses
occurred as a result of covid ".

Chief Executive Richard Gould reportedly said, " The Lansdowns have supported the
club, through the situation ". { Lansdown majority shareholder, chairman ].

Bristol City chairman & majority shareholder Steve Lansdown, wrote off a debt
of £14m inJune 2021, which was owed to the clubs holding company, Bristol City
Holdings Limited, in which he converted the £14m debt into 14,094,361 of shares,
with the nominal value of £1.
Reported to Company House dated 2nd June 2021, which was posted as ' Return
of Allotment of shares ', in a act which has become an annual process, for the
Bristol Billionaire.
Last year, Lansdown capitalised £71m of debt through the same method, ensuring
the overall financial health of the club, despite the financial strains of the pandemic.

The latest move by Lansdown is effectively to ensure the club falls within the EFL's
Profit & Sustainability obligations by keeping losses down.

[ Bristol City Holdings Limited made a pre-tax loss of £10.1m in 2019/20 }

Summary - It would seem Bristol City have found a loophole in the EFL's Profit
& Sustainability rules, by buying shares in the club, to reduce the losses
incurred by the club, so therefore keeping within EFL's rules of losses.
It would seem that in Billionaire Steve Lansdown, Bristol City have a Benevolent
Ownership.
[ Reading FC must be thinking, they could have done with someone of the same
stature, to have helped them ].
[ How can a club say that player sales are down £19.4m , unless they had
deals in the pipeline ].

[CAMiller]

I guess player sales are down £19.4m from the previous reporting period ELK, nothing to do with deals in the pipeline. e.g. previous period £30.0m, this period £10.6m therefore down £19.4m.

Irrespective of how the money is being accounted for and whether it's within the EFL P&S rules these numbers just go to show how hard it is to keep a Championship club afloat and what a good job it would appear TS is doing with RUFC at no doubt a fairly significant cost to him.

[Slimchance]

The quickest way to become a millionaire is to be a billionaire and purchase a football club. UTM.

[flourbasher]

Chief executive officer Richard Gould called the losses "extremely serious".

Well I never Richard, you do surprise us.
He,s in charge and responsible for the well being of that business but he doesn't say what his action plan is apart from to rely on a rich benefactor . If I were the owner I know where I'd be making the first cost saving

[Grist_To_The_Mill]

Then there’s Chelsea, Champions League winners and they make a £145 million loss

The game is imploding

[KerrAvon]

I guess player sales are down £19.4m from the previous reporting period ELK, nothing to do with deals in the pipeline. e.g. previous period £30.0m, this period £10.6m therefore down £19.4m.

Irrespective of how the money is being accounted for and whether it's within the EFL P&S rules these numbers just go to show how hard it is to keep a Championship club afloat and what a good job it would appear TS is doing with RUFC at no doubt a fairly significant cost to him.

But but, but, if TS had spent more money to keep us in the Championship we would have got extra TV money.

Or something like that.