I'm not one to take too much interest in the off-field goings on at TW8, it is a subject that tends to divide fans, but it's always interesting to read about how the club is fairing financially.
Here are the highlights:
- After tax BFC lost £1,264,664 in 2009/10. In 2008/09 the loss was £495,263.
- Our net debt on 31st May 2010 was £8,512,915. Up from £8,303,278 in 2009.
- Average attendances rose from 5,707 in 2008/09 to 5,985 last season.
- Turnover increased by £197,191.
- We made £501,893 net profit from transfer fees. We made a loss of £8,774 the previous season!
It's pretty worrying to see that losses increased by over £750k and the debt is around £8.5m. However unlike a lot of other clubs we are in a very privileged position.
Since January 2006 Bees United (BU), the supporters trust I'd encourage all Bees fans to join, have held the majority (around 60%) shareholding in BFC and currently have three representatives on the BFC board.
Having already given BFC an interest-free loan of £4.5m, last summer Matthew Benham (MB), a Brentford fan, and owner of the Smartodds company agreed to buy the BFC shares held by minority shareholders and also invest £1m a season for five seasons. The deal also gives MB operational control of the club for the five years.
At the end of the five years BU has the opportunity to pay back the £4.5m loan and buy his shares to give them around a 95% shareholding. If BU do not take up this option MB has the opportunity to buy the BU shareholding which will give him a 75% share.
The plan is for BFC to become a Championship club and this deal has given us a real chance of achieving this. The partnership between BU and MB means that BFC can incur operating losses without a threat to its future. A future that was seriously at risk before BU took control of BFC from Ron Noades at the start of 2006.
Andy Scott has been backed by the board with the largest budget of any Brentford manager and after a disappointing start to the season Scott has steadied the ship. In the league games since the start of October we've won six, drawn one and lost two. Scott was named Manager of the Month for October (yes, as it the norm we did loose our next league game!) and we're on a run of four straight away wins and sit 13th in the table. Our home form has been hit and miss with good wins against Charlton, Wednesday and Peterborough tempered by miserable performances against Rochdale, Oldham, Bournemouth, and MK Dons.
We've not had a game for a couple of weeks having been 'giant killed' by Aldershot in the first road of the FA Cup and the Notts County game postponed last weekend so the team should be rested and raring to go at Southampton on Saturday. I just hope the lay-off hasn't seen the team go off the boil. Five straight away wins really would be a great achievement.
So why these musings about the finances of BFC? Well Greg Dyke's Chairman's statement at the start of the accounts paid tribute to us Brentford fans and it made me proud to be a Bee. The club was at in trouble before BU took over an MB made the £4.5m loan. Perhaps not as at risk as in 1967 when news broke that then Brentford chairman Jack Dunnett had been in secret talks with his QPR counterpart Jim Gregory about moving them into Griffin Park and flogging Loftus Road, but things were seemingly pretty dicey.
There isn't much glamour supporting a lower league team and every now and then it's good to hear that your efforts are noticed and appreciated. I hope BFC don't mind me reproducing the comment here:
Before a brief note on Lionel Road I wish to thank all Brentford fans for their continued support. These are very difficult economic times and there are many demands on supporter's time and pockets. Your enthusiasm for a Club which has languished in the bottom two divisions for nearly sixty years (bar one season) is remarkable and your board is working hard to ensure that we have the best possible opportunity of delivering on what we all want and that is a financially viable, self-supporting Club playing in a modern stadium and consolidated in the Championship.
The line about us languishing in the lower divisions for almost sixty years really brought into focus how small we are compared to the other three west London clubs. OUCH, typing that hurts, but it's true no matter what we think as partisan Brentford fans.
After a dismal relegation from League One in 2006/07 and first season in League Two, (be honest Bees fans, we all expected to get up at the first attempt!), we got our act together won the division the following season and had a great season last term to finish 9th. OK performances at home this season haven't been great but we are well positioned on and off the field to have a decent tilt at promotion over the next 3 seasons.
Keep the faith Bees fans I'm certain we'll get there in the end, erm, maybe!!
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