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Bristol City announce 2018/19 accounts
Tuesday, October 29th 2019
Bristol City Holdings made a pre-tax profit of £10.954m for the 2018/19 financial year.
The results for the year ending May 31st 2019 include a profit on player disposals of £38.2m from the sale of Joe Bryan, Aden Flint, Lloyd Kelly and Bobby Reid as well as further payments related to the sale of Jonathan Kodjia.
The profits compare to the £25.347m loss in 2017/18 and follows City’s eighth-place finish – the highest at this level for 11 years – an average home attendance of almost 21,000, as well as a record number of shirt sales. These profits have resulted in net assets of £6.15m (net liabilities of £13.76m in 2018).
City Chief Executive Officer Mark Ashton said: “This is an encouraging set of results for this football club in showing a profit.
“A lot of hard work has gone into making Bristol City a sustainable business and credit must first and foremost go to Steve and Maggie Lansdown for their continued investment and financial support.
“We are annually competing at the top end of the Sky Bet Championship and pushing hard to reach the Premier League, playing in a state-of-the-art stadium with work starting shortly on a first-class training facility.
“We have an Academy producing quality and well-equipped players and individuals as well as a women’s team playing in the top league in England. These are exciting times for everyone who works and supports this great club and we should all be proud.”
KEY POINTS
- Profit before tax = £10.954m (2018 = loss before tax of £25.347m)
- Profit on disposal of players = £38.2m (2018 = £0.3m)
- Central distributions from broadcasting, the Football League and solidarity payments up £250,011 (2018 = up £908,900)
- Total gate revenue down £673,131 (2018 - up £1,625,818 following Carabao Cup run)
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Net assets = £6.15m (2018 net liabilities = £13.76m)
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