Bristol City post record losses

Bristol City have reported a record loss of £6.5m for the year to 31 May 2009, compared to pre-tax losses of just under £2m from the previous year.

A rise in wages and money spent funding their new stadium project are among the reasons given for the heavy losses.

City chief executive Colin Sexstone told BBC Radio Bristol: "Not far short of £2m of it are the professional fees for the new stadium.

"Another £1.3m of the loss is on players' transfers."

Sexstone continued: "Even those figures, in the Championship, are on the modest side but to be competitive you've got to stay in that ball park.

"Most of this goes on wages and our wage bill even now is in the lower half of the Championship table.

"We only stay in this division because we have a very supportive board of directors who continue to pump money into the club to make it viable."

The club's plans for a new 30,000-seater stadium go before the city council on Thursday.

"It emphasises that, to be a competitive football team in the current market place, you need a new stadium," added Sexstone.