Bristol City have announced that the club has made a profit in their 2018-19 accounts. The latest documents were published on Tuesday evening on the club website.
The Robins say they 'made a pre-tax profit of £10.954m for the 2018/19 financial year', almost 11m, after a £25.347m loss previously in 2017/18. (See the documents yourself via the club website here.)
Key to the amount is that it includes a 'profit on player disposals of £38.2m' from the sales of Joe Bryan, Aden Flint, Lloyd Kelly and Bobby Reid as well as further payments related to the previous sale of Jonathan Kodjia back in the summer of 2016.
The accounts cover the period up to May 31, 2019, with Adam Webster's sale set to feature in the next year's report.
With profit and sustainability a key theme in the EFL and financial fair-play under much scrutiny the news gives Bristol City some leeway according to the rolling £39m three-year losses clubs are permitted to make.
The key part is without doubt the sales of players and while there is still high-level trading to factor into the 2019-20 assessment, particularly after Webster joined Premier League Brighton, Bristol City look to be well-placed. But it does highlight the club's necessity to keep selling players at good value if they are to remain profitable.
CEO Mark Ashton told the official club website: “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 items:
- 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)
