Bristol City record £10m loss for financial year to May 2020
- Published
Bristol City have not had a crowd attend a game at Ashton Gate since 7 March
Bristol City have made a pre-tax loss of just over £10m, despite making a profit of over £25m on player sales.
The figures, which are for the 12 months until the end of May 2020, include the first months of the Covid-19 pandemic and the shutdown of football that followed until June.
Matchday income fell by £600,000 compared to the previous year.
The Championship club made a pre-tax profit of £10.95m in the 2018-19 financial year.
The sales of Adam Webster to Brighton and Hove Albion, Marlon Pack to Cardiff City and Josh Brownhill to Burnley all netted the Robins substantial transfer fees, but the club are still reliant on billionaire owner Steve Lansdown's continued financial support.
"We have had no matchday revenue from crowds since 7 March last year so we are under no illusions that the results for this year will be very sobering and we will have to cut our cloth accordingly," said chief executive Mark Ashton.
"Overall we are in a stable financial position, with a team competing at the top end of the Championship, and a new state of the art training ground opening in the spring that will bring our first team and Academy together for the first time so we have a lot to look forward to."