ManxSeagull
NSC Creator
Wow, hefty losses two seasons on the bounce does not look good.
£18.6m wage bill against turnover of £11.8m
How does there wage bill compare to the rest of the divison's teams?
http://www.bbc.co.uk/sport/0/football/20607144
Bristol City have announced a club record loss of £14.4m for the year ending May 2012.
It compares to a loss of £11.45m for the previous financial year.
Turnover at Ashton Gate dropped from £11.9m to £11.8m, but their wage bill rose from £15.9m to £18.6m.
Chairman Keith Dawe described the figures as "disappointing" but said they reflected a "difficult year" for the club, who are currently two points off the bottom of the Championship.
The losses leave City struggling to comply with Financial Fair Play regulations, which come in to force at the start of the 2014-15 season.
The aim of the new regulations is to prevent clubs from over-spending on wages and transfer fees and accruing debts.
By the 2015-16 season, losses at a Championship club can be no more than £5m, with a maximum of £3m funded by shareholders and clubs.
Clubs not meeting the detailed criteria face a transfer embargo.
"The loss illustrates how much work is required to reduce costs and grow our income in order to comply with the new FFP regulations, brought in by the Football League," Dawe added.
""Manager Derek McInnes has a firm focus on results on the pitch but is equally aware of the financial demands of FFP on the club, and this rounded understanding and determination can only help us in our ultimate aims."
£18.6m wage bill against turnover of £11.8m
How does there wage bill compare to the rest of the divison's teams?
http://www.bbc.co.uk/sport/0/football/20607144
Bristol City have announced a club record loss of £14.4m for the year ending May 2012.
It compares to a loss of £11.45m for the previous financial year.
Turnover at Ashton Gate dropped from £11.9m to £11.8m, but their wage bill rose from £15.9m to £18.6m.
Chairman Keith Dawe described the figures as "disappointing" but said they reflected a "difficult year" for the club, who are currently two points off the bottom of the Championship.
The losses leave City struggling to comply with Financial Fair Play regulations, which come in to force at the start of the 2014-15 season.
The aim of the new regulations is to prevent clubs from over-spending on wages and transfer fees and accruing debts.
By the 2015-16 season, losses at a Championship club can be no more than £5m, with a maximum of £3m funded by shareholders and clubs.
Clubs not meeting the detailed criteria face a transfer embargo.
"The loss illustrates how much work is required to reduce costs and grow our income in order to comply with the new FFP regulations, brought in by the Football League," Dawe added.
""Manager Derek McInnes has a firm focus on results on the pitch but is equally aware of the financial demands of FFP on the club, and this rounded understanding and determination can only help us in our ultimate aims."
