Bristol City owner Steve Lansdown praises club's profit - calls it "a milestone"
30 October 2019
Bristol City have announced a profit, which pleases the club's owner, Steve Lansdown.
In an interview with the club, Lansdown acknowledges that the profit is mainly down to player sales.
"At the end of the day, players, without being mean, are a commodity to the club," Lansdown said.
With Bristol City announcing a profit of £9.8 million for the year, club owner Steve Lansdown is undoubtedly a pleased man.
"The first time I ever got involved with the club, I made a statement, and I wasn't a chairman or anything like that, that the aim would be to make a profit," Lansdown said in an interview with the club.
"I've been trying to achieve that ever since and so this set of accounts is quite a milestone."
The key factor in Bristol City's profitable accounts is the club's player sales through the year, with the club generating a £30.41 million profit on player trading.
Lansdown acknowledges that the profit is mainly down to player trading, however, he adds that it is all based on the club's focus on developing and trading players in order to generate money, which can be reinvested into the club.
"I've always talked about making us sustainable and this is all part and parcel of that process," Lansdown said.
"At the end of the day, players, without being mean, are a commodity to the club. They come and go, and they have a value and we need to realise that value as much as possible."
Part of that value, Lansdown added, is when the player is playing on the pitch for the club.
"Another part of that value is realising it in the transfer market," he said.
However, as a club with ambitions to get into the Premier League, selling their best players for profit may complicate things.
We have seen some very good players go and we've been disappointed with that when that's happened, but we've realised very good value for them"
"We have seen some very good players go and we've been disappointed with that when that's happened, but we've realised very good value for them," Lansdown said.
"We've also invested that back into the playing squad to bring in more players with more development value that we can move on. I'm sure that will give us the success we want."
This summer, Bristol City welcomed seven new players to the club.
The financial report reveal that Steve Lansdown had put another £10 million into the club during the year via a share issue.