FF News Posted February 12, 2015 Share Posted February 12, 2015 AN unexpected windfall following the surprise sale of Rickie Lambert from Southampton to Liverpool has helped Bristol Rovers avoid posting a yearly loss of close to £1 million. Financial results for the year ending June 30, 2014, which are set to be approved at Rovers' annual general meeting on Tuesday, March 3, will show that the club reduced their yearly losses by 27.5 per cent from £781,911 to £566,408. The club, however, would have posted a much more significant loss had it not been for the bonus they received as a result of a sell-on clause when Lambert was snapped up by Liverpool for about £4.5 million prior to the start of the World Cup over the summer. Lambert's move is believed to account for the majority of the £470,000 the club received in player sales, while a deal that saw goalkeeper Matt Macey join Arsenal is also believed to have made up the most of the £150,000 collected for sale of youth players. Total debt, meanwhile, was slightly reduced year-on-year (3.7 per cent) – but current liabilities still exceed assets by almost £5.5 million and chairman Nick Higgs writes that the "club's ability to continue trading is still heavily dependent on funding from directors." Read more: http://www.bristolpost.co.uk Source Link to comment Share on other sites More sharing options...
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