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£71 million!


Jerseybean

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46 minutes ago, Sturny said:

More good news is Ashton Gate is making a £15.7m turnover a year and rising

Probably more than the mem has made in 10 years  

A bit of that will be Rugby based. Don't know if there's a segmentation in there.

However yes, we are absolutely trying to get full value, to make full use, gain full income streams out of the asset- and rightly so.

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11 minutes ago, phantom said:

Where was this £71m of debt owed?

I think thsi is being reported slightly incorrectly.

£71m of shares have been issued in Bristol City Football Club which has been described as:

"capitalisation of loan by Bristol City Football Club to its parent company".

However it wouldn't work this way round.  BCFC (the sub) is owned by Holdings (the parent) and at 31 May 2019 was owed £1.2m by group companies but owed £77.3m to group undertakings.

So I would say that it is the capitalisation of the loan TO Bristol City Football Club by its parent company.

The end result being that BCFC now owes £71m less to Holdings by capitalising that debt:

Dr Group Creditors £71m

   Cr      Share Capital £71m

It's effectively writing off that money and providing a buffer for all other creditors of BCFC as its shareholders deficit (net debts) was £49m but it now has net assets of £22m.

There's no benefit to either the Lansdowns or the minority shareholders in increasing the share capital of BCFC because they own 100% of it anyway.

It's another altruistic transaction for the benefit of the club.

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6 minutes ago, Mr Popodopolous said:

A bit of that will be Rugby based. Don't know if there's a segmentation in there.

However yes, we are absolutely trying to get full value, to make full use, gain full income streams out of the asset- and rightly so.

According to the Kieran Macguire Twitter quoted on the other thread, the stadium income for “other commercial enterprises” was up to 14.7m. I read that as outside of sports?

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14 minutes ago, Port Said Red said:

According to the Kieran Macguire Twitter quoted on the other thread, the stadium income for “other commercial enterprises” was up to 14.7m. I read that as outside of sports?

Bristol City Holdings is Bristol City FC income + Ashton Gate Limited- minus rugby related I guess.

Ground rent is listed somewhere, but not really looked at that in depth- that could also affect the figures a bit.

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39 minutes ago, Ronnie Sinclair said:

and has written off 71p of debt, loose change that he put in the meter on the back of the Babestation TV to switch it on again

Apparently 40p if that has been written off,it was actually 4 x 1970 Esso World Cup coins(one for the longer in tooth of us)

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1 hour ago, Mr Popodopolous said:

Bristol City Holdings is Bristol City FC income + Ashton Gate Limited- minus rugby related I guess.

Ground rent is listed somewhere, but not really looked at that in depth- that could also affect the figures a bit.

Think you need to look at this differently.

BCH is made up of the trading of BCFC and AG.

For BCFC, we understand the finances at a reasonable level.  Income from matches, tv, League, plus transfer profit etc.  Costs from Wages, Amortisation of player contracts, operational costs, e.g.to bristol sport for ticketing etc.

AG’s trading includes income from BCFC and Rugby (in the form of rent from allowing both to use its stadium).  It also receives income from concerts, events etc.  Along with the costs of operating the stadium for football, rugby, concerts etc, AG also has to pay interest on the stadium loan to SL (Pula).  There might be some ground rent too.

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7 minutes ago, Banjo Island said:

Never managed to get the pele one ??

Pele's always was a hard one to find. 

Not any longer though.......... 

 

 

 

 

 

 

 

 

... Shorter and softer if the rumours are true. :shocking:

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I don't understand any of the methodology behind the debt to share transfer but I do understand a few things:

 

1) it improves the financial stability and sustainability of our club. 

2) it reconfirms our Chairman's commitment to Bristol City (as if that was in doubt!) 

3) it will continue to piss the fewers off and have them ranting into their cups of fake Fanta. 

Happy days. 

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This post should be pinned.

I hope that everyone understands or can appreciate the enornity of this gesture & a transaction that will help to stabilise the club for a long time, moving forward.

All hail, Steve!

 

I always thought that Bristol Rugby paid Bristol City Holdings,  2 million for the use of Ashton Gate. Is that right?

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