Club's Parent Company Reports Significant Loss
Birmingham International Holding Company has issued a significant loss warning for the financial year and has blamed this on a lack of money coming in from player sales.
The player sales during this period are Jack Butland to Stoke for around £3.5 million pounds and Curtis Davis to Hull for around £2 million pound.
I'm unsure but I think the Redmond deal comes under this financial year not the last one.
For the year ending in 2012 Blues posted profits of £16 million pound with players like Jerome, Ferguson and Scott Dann to name a few, all being sold.
Has that money been taken out of the club? or has it slowly been chipped away by the costs of the club? its not so long back, so it would be hard to believe the club had spent that already!
The company said it expected the financial situation of the club to continue to worsen in its current state.
The club also still have liabilities of £14 million which could be the money the club owe to BIH (they loaned the club player fees), this represents a supposed fall in liabilities.
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