Birmingham Sports Holdings yesterday made an announcement to the stock exchange warning that there would be a substantial increase in the loss suffered by the company for the year ending June 30, 2018. The poor results are blamed on the increase in spending on player registrations and staff costs.
March 1st might not seem that important a date in the football calendar – after all, it’s a Thursday night and Blues won’t be playing that day. However, it is a day that could tell us a lot about Blues future in the next 12 months – and all because of those three dreaded letters, FFP.
Recently released accounts for Birmingham City Football Club make for some grim reading. While performances on the pitch have meant that the team have seen their league position drop into the bottom three, the amount of money spent by the club has rocketed ensuring that the club made a loss before taxation of £16.395million.
Birmingham Sports Holdings filed their accounts for the twelve month period ending June 30, 2017 yesterday. They confirm that the company made a loss of HK$182million (approx. £17.4million), more than triple the loss for the previous year.
Birmingham International Holdings today confirmed that they expect to record a substantial increase in loss for the year ending June 2017. The increase of operating costs including spending on player’s registration and player wages was largely blamed for the increase.
The accounts for both Birmingham City and it’s UK parent Birmingham City PLC have been made available at Companies House this week. Both sets of accounts are essentially the same (as BCFC is 100% owned by BC PLC and it’s sole asset) and paint a stark picture of how much trouble BCFC would be without the investment of Trillion Trophy Asia.