City's annual accounts were sent out to shareholders this week, showing a loss of £1,997,779 on the year ended May 31st 2008.

This is compared to a loss of £882,148 for the previous financial year.

Football turnover more than doubled to £8.8m (from £4.3m in 2007), but staff costs rose to £8.5m (£5.6m in 2007) - a 51 per cent increase, representing 69 per cent of the overall turnover, which was £12.3m.

Writing in his opening statement for the annual accounts, chairman Steve Lansdown admitted "competing in the Championship brings its own problems, in particular, controlling the wage bill".

He added: "Everyone focuses on transfer activity when talking about improving the playing squad but as equally important element of this is the renegotiation of contracts with existing players.

"In fact, one of our biggest challenges going forward is managing player expectations whilst at the same time providing the appropriate incentivisation. This also applies to all members of staff throughout the group.

"It is going to be increasingly difficult to keep wages under control if we wish to progress as a football club. What we will work hard to ensure is that we use every means available to bring in quality players at the best possible price and reward as much as possible on a performance-related basis."

At the last AGM the chairman announced plans to build a new stadium at Ashton Vale.

He continues in the statement: "I am pleased to report that this project is progressing satisfactorily. It is vitally important for the success of the football club that such a project be successful."

The company will hold its annual general meeting on Thursday, November 27th, with a different formula this time around.

Steve explained to bcfc.co.uk: "The official business of the AGM will be held during business hours in the Dolman Exhibition Hall at 10.30am. This meeting is restricted to shareholders only.

"In the evening I will host a presentation, followed by a question-and-answer session involving Gary Johnson and the other board members.

"Shareholders will have priority to attend this meeting, but it will also be open to members of the Supporters Club and Supporters Trust. Both these organisations are shareholders in the club and I believe it is essential to open up discussion on how the club is run and what the future holds to their members and individual shareholders."