Brentford FC reveal more losses
Club £7million in debt, although cost-cutting measures are beginning to work
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The parlous state of Brentford FC's finances is bought home by the latest Annual Accounts. Covering the year up to May 2003 the report reveals that Brentford's total debt is in the region of £7 million. |
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The club have made severe cost-cutting measures over the last eighteen months and these appear to have had some reward. The Club actually made an operating profit of £75,000, helped by success in cup competitions. However the interest charged on the £4.5 million overdraft with Barclays Bank pushed the year's figures into the red, with the Club's total loss finishing at £177,000. However this compares favourably with the loss the previous year of £1.18 million. The long-term survival plan involves building a new ground on land in Lionel Road, near Kew Bridge Station. However planning and ownership issues mean that this is still some years away, and the club have announced plans to alter Griffin Park in order to bring in more revenue on match-days. |
Learning is the goal at Brentford FC Griffin Park one of safest grounds in country Renewed optimism on plans for new stadium |
The next
18 months will be crucial. Until May 2005 the supporter's trust, Bees
United, have the chance to take control of the club from the holding companies
controlled by former chairman Ron Noades.
Bees United are continuing to hold a series of fund raising events to
help bring this about - details can be found here.
The full report can be read on Brentford's website on these pages.
3 Dec 2003
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